September 18, 2012
Unless Congress acts prior to year end - most of the tax rate reductions and exemptions enacted since the Economic Growth and Tax Relief Reconciliation Act of 2001 will expire. Consider the following examples of the changes that will occur at year-end if Congress takes no action.
In addition to expiring tax provisions, as a result of passage of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, the Medicare tax rate will change. For example, the Medicare tax rate on earned income exceeding $200,000 ($250,000 for couples filing a joint income tax return) will increase from 1.45% to 2.35%. In addition, net investment income will generally be subject to a 3.8% additional tax to the extent AGI exceeds $200,000 ($250,000 for couples filing a joint tax return) effective January 1, 2013.
We can all get caught up in the day…meetings, calls, texts, emails and the myriad of other workday demands that pile up quickly and can create unwanted stress.
Labor Day is upon us—a popular holiday that is dedicated to the millions of women and men who keep this country going strong. For many, it also means that it’s time to break out the grill for that big end-of-summer celebration. And because most of us aren’t Grill Masters, this is a good time for a refresh on some basic grilling safety tips to keep everyone safe and the party going.
Let’s face it. Kids aren’t cheap, so you have to save money where you can. Back-to-school shopping is a good place to start because costs can add up quickly—especially if you have more than one child. Consider these tips for sending your kids back to school without breaking the bank.