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.

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135Comments
Dec 26, 2012 6:29PM
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There's no need for the Democrats to compromise, because they effectively got what they wanted in a poison-pill compromise from the Reps in the last round of fiscal-cliff negotiations. AND, they won the election. The point is, the Republicans will look bad for protecting the income of those making over $250k, when they already lost the class war in the last election, and may lose mid-term seats as a result.  As an independent, I think they have a real problem winning elections going forward with the constituency they represent, and a demographic problem after telling 47% to pound sand.  The last budget surplus was under Clinton, and the massive deficit and recession was created largely by two unfunded wars, and unregulated big business/big bank policies, not to mention sending out $600-$1,200 tax refund checks under Bush.  It is time for some tax breaks to expire.  With HH income of $150k+, I don't mind paying more, if there is a viable solution in sight.  You can't balance by cutting alone.  People defending these teabaggers are the same right wing birther nuts that defend the NRA...Clueless!  Trickle-down economics doesn't work. They call Obamacare socialism, but so is SS, medicare, schools, and the government requires you to buy car insurance! 
Dec 26, 2012 6:24PM
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You all have it all wrong.  Perhaps you need to educate yourself on what the real issue is.  Obama wants the people in the wealthy upper income bracket to pay their fair share of taxes.  He is trying to protect us middle income people.  That is the thing the republicans don't want to do.  They just continue to hide their money in out of the country banks and institutuions.  Romey was a good example of that.   EDUCATE THEYSELF YOU FELLOW AMERICAN........
Dec 26, 2012 5:01PM
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Your BOY Obama wanted the job and he got it, so it is up to HIM to do whatever needs to be done, including compromise. But OBAMA refuses to do so, so he clearly has no problem with taxes going up. In fact, he LOVES it because he wants to stick it to the "rich" and doesn't really care that all of us in the middle will suffer as well. He couldn't be happier with how its gonna go down. Anybody that says otherwise is in complete denial or a flat-out liar.
Dec 26, 2012 3:03PM
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We can argue all we want amongst us....The reality of it all; elected officials hide their money in off-shore accounts because they don't want to pay taxes on the money we pay them, from us being taxed.  They get excellent health care coverage, better that you and I can afford, that we pay for in taxes.  They are bought and paid for by special interest groups that have immediate access priveledges, that we pay for in taxes.  Regardless of where to point the finger, they are giving us the finger.  A some point they will learn that we are the people and they work for us, not the other way around.
Dec 26, 2012 1:30PM
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  Our President has been very successful-He has divided our Country, economically, racially, politically,scocialy, religiously.  He or his mentors have weakened our Country to state of collapse.  Remember that our heritage is Judeo-Christian-we tend to be tolerant/accept other cultures and live in peace.  Unlike a muslim culture that says conform or die. Where did we go wrong?
Dec 26, 2012 12:57PM
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What the hell is a bonus or an itemized deduction ?  I have seen either one in years.
Dec 24, 2012 4:18PM
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Thank you "Rant" you are totally right. the black reference was uncalled for and does degrade my argument. Sorry if I offended anyone. The point was that programs which favor minorities and such, unfairly tip the scales of opportunity making it even harder for those that get no preference. Affirmative action has done wonderful things to level the play field for those oppressed victims of society. Programs like that have also given some an unfair advantage. Merry Christmas and good luck in the new year 
Dec 22, 2012 4:43AM
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Listen,  Everyone who is crying they need to go to work so I can get free money,  Tough luck.  Just keep working so I keep getting my checks. Who is the smart one here is it you or is it me? All I have to do is wait for the mail man. No gas needed here to go to work, no traffic jams to sit in, I just get the money you earn. I love this system. So keep working, I love it,  fools!!!!!!!!
Dec 20, 2012 4:37PM
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haven,t you seen their stratygy they create a loophole to line there pockets then close the loophole. then create a diversion and while your focus is on the diversion they sneak in another perk for themselves. If this is not taxation without represantation then I missed something. why do you think they keep there money in overseas accounts.

remember if your not in there bracket you mean nothing to them.

Dec 20, 2012 4:20PM
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The feds are targeting incomes, retired people are a big part of the plan to steal by law, your 401 is fair game, your dividends and your capital gains will be going up and your income will be in jeopardy, so far there is no way to avoid the oncoming parasite taxation.

Removing the progressive tax and the IRS would be a considerable way to begin the reduction of government cost,  a national sales tax would make all americans pay a equal taxation rate, the 47% that pay no income tax would share the burden,  the more you spend the more you pay.   It would take the tools of tax discrimation and class warfare away from the politicians and force a budget by putting the Nat'l tax on the ballot every 10 Years...this is why WTP will never see purposeful, responsible taxation.

Merry Christmas and the best of the New Year....next year is gonna be a real female dog.

Dec 20, 2012 3:52PM
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Protecting your money is undeomcratic.You should give75% to the democrats so they can ounish businees.
Dec 20, 2012 3:31PM
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the government can't manage their money so we're supposed to get them out of debt. They never helped me when I was hungry. You're smarter not to work and let the Dem. keep you on the plantation like they keep the poor.

Dec 20, 2012 3:26PM
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This 2 party crap system we have is not working, We must start writing letters to our state reps. and demand impeachment! Start petitions, our constitutional rights are being stepped on by the people that we have put into office and it's high time we actually start doing something besides bitching about who did or did not get elected. We had a viable candidates but not enough people voted for Ron Paul or even gave Gary Johnson a fair shot. We need to get rid of the fed reserve the c.i.a the electoral college and all of the brain dead politicians we have in office this needs to be done now before the end of the presidents term cause that evil hilary seems like she is going to be running in 2016 at that time we may as well just implode
Dec 20, 2012 2:58PM
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Wait till you do your taxes for this year. If nothing gets done this year then the AMT (Alternitive minimum Tax) kicks in.
Dec 20, 2012 2:47PM
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whose not working with who?? 

 

the following is a transcript to sum up the events:

 

Boehner: we'd prefer to extned tax cuts for everyone across the board, but will instead agree to extending current rates for those who earn 1 million or less.  and as for increasing the Debt Ceiling, you ran through the 1.2 Billion we gave you back in April; we relaly shoudlnt give you any more but we will.

 

Obama:  i said only extend the rates for people who earn under $250,000 and a blank check to cahs before the Debt Ceiling expires; i'll veto anything else.

 

Reid: *snort* you only have to veto it if it gets past the Senate, which it wont.

 

Media: the House is twiddling its thumbs, Republicans refuse to compromise.

 

Citizens:  *head desk*

Dec 20, 2012 2:44PM
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This is by far the funniest article I've read in a while!  All the liberal/democrats say "Obama will lower people's taxes except for the rich".  HOWEVER, this article, from a liberal media outlet, say 90% of people are looking at a tax increase....sooooo, I suppose 90% of America became rich overnight.  Nuff said...point proven!

Dec 20, 2012 2:26PM
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I find it very interesting that Obama is now saying he does not want to deal with the "fiscal cliff" problem, and just focus on this gun control issue. AND the truth is coming out on the Benghazi incident, three officials have quit or left! And the Libtards were all saying the Repubs kept bringing it up cause they were sore about losing the election? OMG! And I thought it was only the top money earners not the majority that the taxes were going to go up on?? He's like a clown! And the ones who follow him are joining  his circus!

Dec 20, 2012 2:24PM
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JUST ABOUT ALL OF YOU SHOULD HAVE YOUR MOTHERS CHANGE YOURS DIAPERS**
Dec 20, 2012 2:09PM
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I still blame the 3 Million people that stayed home because Romney was not conservative enough., they wanted to teach the Republicans a lesson. Compared to Obama he was Ultra Conservative.  I can't believe that they could put a person with such a dismal record back in the White House.  Obama knew just what he was doing promising everything.  He wants our country to go down because he does not want the USA to be the greatest in the world.  He wants a Global government.  Send the UN packing and protect the United States as a Sovereign Nation. 
Dec 20, 2012 2:07PM
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Wow! It must be low class moron day. I'm referring to the idiots who are not rich, yet support the rich man's politicians, i.e. republicans. You all say you can't understand how democratic supporters can not see your point of view, but I assert that anyone who isn't rich and doesn't see that the republicans continue to pick your pockets and hand the proceeds to their rich buddies must be S-T-U-P-I-D!

Many of you are living in trailer parks and eating spam for dinner, but you'll vote republican. How on earth does that make sense? The again, you probably have a few GUNS at home don't  ya? Big guns, small brains; I think that about sums up the republican mentality.

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