The IRS recently released the official 2012 inflation adjusted income tax brackets. This is something the IRS must do each year so the tax rates keep pace with inflation. These income tax bracket changes will affect your 2012 income and your 2013 income tax returns. Just something to keep in mind when it comes time to filing your taxes.
If you remember back to 2010, Congress eventually voted on extending the Bush tax cuts through 2012. So, not surprisingly, the income breakdown is very similar to the 2011 federal income tax brackets. The only change for 2012 is the inflation adjustment to the income levels and deductions.
Though changes can still be made by Congress before the start of 2012, it’s highly unlikely. Federal tax reform looks to be a big part of the 2012 presidential election campaigns. Any changes now would spoil the future tax debate. Continue Reading…
The at-home business has become really popular over the years. It offers people an opportunity to generate an extra source of income right from home. By taking advantage of some home business deductions, you could significantly lower your year-end income tax bill when you 
Many people took full advantage of a Roth IRA conversion in 2010, thanks to the new no income limit rule and a one time tax payment change. But were those 2010 Roth conversions the best choice for the money? Is there time to go back? What should you be considering for any future Roth IRA conversion?
Bank of America took a big leap last week, jumping head first into the monthly debit card fee ring. Starting the next round of additional banking fees introduced to counteract the new limits on debit card swipe fees which took effect Oct 1st. Which has not made me and a few million other BofA customers happy campers. But don’t fret, there are still options available to avoid them.
“Significant” was the word of the day. As in “significant downside risks to the economic outlook.” The day was not, however, sponsored by any letter and number.