More On Tax Planningfrom The Advisor's Professional Library
- Cafeteria Plans The income tax treatment of cafeteria plans is key to their popularity. Learn how to maximize the tax benefits of these “flexible benefit plans”.
- Annuities: Estate Tax The value of certain types of annuities may be included in an estate’s value. Understanding the intricacies of these inclusions is a critically important aspect of estate planning.
"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.