The Ice Blog

by Ice

Tax Increases Begin Next Year

If you believe the tax increases won’t effect your finances next year – think again. If there were ever a time to seek Financial Solutions to the runaway system of taxation – now is the time. Are there steps that you can take to reduce the burden of next years increased tax rates?  Contact The Ice Blog to find out.

Major Individual Income Tax Benefits Expiring 12/31/2011:

• Personal tax credits applied against income tax no longer apply

• Higher alternative minimum tax exemptions revert back to extraordinarily-low thresholds

• $250 school teacher expense deduction ends

• Mortgage insurance premium deduction expires

• State and local sales tax deductions expire

• Tuition and related fees deduction end

• IRA to charity tax-free transfers stop

• 2% Social Security tax reduction ends

Major Individual Income Tax Benefits Expiring 12/31/2012:

• Marriage penalty equalization ends

• Dividends taxed at capital gains rates removed, taxed at regular rates now

• Capital gains low tax rates expires

• Removal of itemized deduction phase out for higher income Americans

• Removal of personal exemption phase out for higher income Americans

• Child care deduction limit of $3,000 reverts to $2,400

• Child credit reduces from $1,000 per child to $500 per child

• Low 10% tax bracket for low income Americans is eliminated

• Lower income tax rates and smaller brackets expires

• Refundable adoption credit and reduced deduction

• American Opportunity college education credit expires

• Major reduction in earned income credits and refunds

• Income tax exemption for debt forgiven on home foreclosures and repossessions

• Deduction for student loan interest ends

• Education IRA limit drops from $2,000 to $500

Vote Ron Paul and put an end to the IRS strangle hold on your freedom and finances.

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November 10, 2011 Posted by | Economy, IRS, Money, Tax, Taxation, Taxpayer | , , , , , , | 20 Comments

(Coerced) Voluntary Charitable Contributions

 

You can find out more about the organizations behind this video at: www.georgeoughttohelp.com

 

January 3, 2011 Posted by | Freedom, Government, IRS, Liberty, Limited Federal Government, Ludwig von Mises Institute, Politics, Taxation, Terrorism | , , , , , , , , | Leave a comment