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Fri Dec 28, 2012, 12:57 PM

Washington’s Stalemate Leaves Taxpayers in Limbo.

So we’re left with no idea how much we’ll be paying in federal income taxes in 2013, and a wide range of possibilities for taxes on investments and estates and tax deductions for mortgage interest and charitable contributions. Plenty of people will spend the next several days feeling helpless, with one eye on the stock market and the other on Washington.

For all the uncertainty, though, there are a few things we do know about how things will change next year. . .

As we’re learning now, most great tax deals, like the mortgage interest deduction for beach houses and the tax-free health insurance benefits that many of us get from our employers, may not last forever.

We don’t have much control over what will happen in Washington or our state capitals next year, or 10 years from now. But most of us can probably find ways to earn a little more, save a little extra or spend a little less. Pick just one of those options, make it your New Year’s resolution and see if it helps you feel more in control of your financial destiny by this time next year.


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Reply Washington’s Stalemate Leaves Taxpayers in Limbo. (Original post)
elleng Dec 2012 OP
Warpy Dec 2012 #1
elleng Dec 2012 #2

Response to elleng (Original post)

Fri Dec 28, 2012, 04:56 PM

1. It leaves business owners in limbo more than anyone else

because the IRS can't get new withholding tables out until they know what they are.

Ordinary taxpayers will be fine since they'll be doing last year's taxes according to last year's laws.

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Response to Warpy (Reply #1)

Fri Dec 28, 2012, 05:01 PM

2. That's good, of course, Warpy,

but does nothing to get attention of We the People to kick Congress ass.

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