More On Tax Planningfrom The Advisor's Professional Library
- Selected Provisions of the American Taxpayer Relief Act of 2012 The experts of Tax Facts have produced this comprehensive analysis of selected provisions of the American Taxpayer Relief Act of 2012 (the Act) to provide the most up-to-date information to our subscribers. This supplement analyzes important changes to the tax code with emphasis on how these developments impact Tax Facts’ major areas of focus: Employee Benefits, Insurance, and Investments.
- IRAs: In General Individual Retirement Accounts are highly popular tools for contributing funds that grow on a tax deferred basis. Depending on the type of IRA, the accumulation can be tax free.
"The details are being worked out," one source said.
Treasury Secretary Timothy Geithner said Sunday, July 25, that the economy was not likely to slip back into recession but letting tax cuts for the wealthiest Americans expire was necessary to show commitment to cutting budget deficits. In appearances on several Sunday talk shows, Geithner said only 2% to 3% of Americans -- those making $250,000 or more a year -- would be affected when tax cuts enacted under President George W. Bush ended on schedule this year.