12 smart year-end tax moves
With so much still up in the air about tax changes come January, it's vital to ensure that that you close out 2012 protecting your finances from the tax man.
MORE ON MSN MONEY
VIDEO ON MSN MONEY
IT'S FUNNY THE DEMOCRATS AND LEFT WING MEDIA PROPAGANDA MACHINE IS HARD AT WORK TELLING PEOPLE IT'S THE
REPUBLICANS WHO ARE GONNA LET TAXES GO UP BUT IT'S OBAMA AND THE DEMOCRATS WHO ARE SAYING THEY WANT
MORE TAXES AND REVENUE! THEY ARE SAYING THEY WANT HIGHER TAXES AND MORE SPENDING AND STIMULUS WITH
NO DEBT CEILING AND NO BUDGET! WHAT MORON CAN'T SEE IT'S OBAMA DOING ALL THIS?
here is the deal.. It is plan and very simple..
WRITE YOUR CONGESS PEOPLE.. TELL THEM YOU WANT THE FAIR TAX ACT..
Look it up for the ones who don't know what it is..
but it will do away with pay roll taxes, the irs.. and every one including the 12 million illegals in this country will have to pay their FAIR SHARE?
i MEAN REALLY?????
Anyone over a $million/yr should pay the same 48% of income like me. As a small business owner with no preferred status, and income less than 200k, I have to pay in 10k of Tax an FICA for every 20k I bill. Lets screw the Single White American that is building a business !
( BTW, No money to return to school either, because I own a home.. ) If you have any money in the bank you receive NO finical aid. How are we supposed to educate the work force ? It forces you into the system and recruits from the high risk sample.
Obamanomics, mmmm, mmm, mmm.
How stupid you are for wanting such a burden in our lives.
we are loosing our freedom and we have lost our independence, our rights are being shrunk and our corporations have our families working dark to dark, and our kids are being raised by the government.
Now they want to take more of our money, It is time for people start taking interest and making their way for governors of each state and break away from the united states and claim our independence back.
I think its time to stop all welfare payments, food stamps, government workers paychecks (including president, senate and congress) until a decision is reached.
Then once one is reached a new welfare reform should be put into place. This would help decrease the deficit, including mandatory drug testing for all recipients. Then form a welfare task force to check homes of recipients to make sure they own nothing, and that there are no additional working people (ex: live in boyfriends, etc...) in the homes. Next, those who still qualify would be put to work cleaning highways, government buildings, picking up trash and working in childcare to take care of those who are working and on welfare.
Next a mandatory 15% pay decrease to all government workers. This would weed out who really wants to work for the people. All gifts, donations etc.. to president, congress and senate are made illegal. And, their co-pays for insurance are doubled. No bonuses, no perks, no trips, nothing. No parties at the whitehouse canceled, no personal chefs, let them cook for themselves. No more traveling on our expense, they need to fly to hawaii on there own buck.
And finally, a sliding scale for big corporation CEO's that their salary be in check to the salary that they are paying their employee's. If not huge tax penalties would be imposed on their corporations. Also, that they employee at least 75% of their workforce here in the USA or they would be severely taxed on their product. And all imported products would have a major import tax. It is time to make US products more affordable than the made in Taiwan crap people purchase.
Just sayin it might work for us.
Please take note that you don't need to have an income of $250,000 to justify a Roth IRA conversion. Why? The conversion may very well boost your TOTAL income into this range. Also, the higher additional taxes could be as high 8.3% - not 3.8% - if Obama gets his tax rate increase from 35% to 39.5% for the top earners.
An alternative strategy is to do a partial conversion that brings your total income just up to, and not over, the $250,000 threshold. Repeat this every year until the entire conversion is complete. The downside of this approach is that gains in the conventional IRA before converting are taxable. On the other hand, there may not be much in the way of gains under Obamanomics.
Copyright © 2013 Microsoft. All rights reserved.