More On Tax Planningfrom The Advisor's Professional Library
- Taxation of Real Estate Real estate may be used to shelter income and may offer certain tax benefits. However, the type of real estate investment may result in different tax treatment. Learn how to use these investments to help your clients.
- 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.