Pending Taxastrophe

Notwithstanding the chance that anything can change between now and January 1, we are facing a devastating barrage of tax increases next year. We face the expiration of the 2001 and 2003 tax cuts, the alternative minimum tax (AMT) patch, numerous tax extenders and various economic stimulus programs. If our elected officials do nothing between now and the end of the year, which is unfortunately...

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Taxes on Performance

Did you know that our US athletes can earn prize money for winning Olympic medals? $25,00 for a gold, $15,000 for a silver and $10,000 for a bronze. Good for them; they certainly deserve it. It wouldn’t bother me at all if they earned 10x that amount for the years (or decades) of sacrifice and hard work that they put in to become the best in the world at what they do. Most of us cannot...

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