Category: financial planning

Federal Gift and Estate Law in 2016 and Beyond

By Mary Randolf For the foreseeable future, the federal estate tax will continue to affect only the richest families in America. Under legislation passed by Congress on New Year’s Day 2013, the estate tax exemption was made permanent at the $5 million 2012 rate, but adjusted for inflation each year. Of course, calling the tax law “permanent”

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Taxes

If you are using W2, you pay taxes first. In using 1099, you subtract all your expenses and depreciating assets and other deductibles from your income and you pay less taxes. Do not be like Donald Trump, paying zero taxes. We need to support our schools and other infrastructures to build more educated workers that

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1099 is better than W2 for middle class Americans

Many corporations have to find ways to save on taxes. Working Americans can also find ways to save on taxes. Have your own business and/or use 1099 instead of W2. Apple is an example of a smart company. We thank Apple for the many jobs it created. We should encourage more enterpreneurs and job creation

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USA Rich and poor tax payers, 2010

Middle income and families Middle income and couples contributed more in taxes compared to other income groups. Free education, housing support, child care support, health care access and other family-centered and middle-income centered benefits should be given more to this income group. From these income groups, more than half of the monthly income goes to

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2010 Tax Statistics in the USA

More women between the ages of  55 under 60 yrs of age worked in 2010 compared to the number of men in the same age group. In both men and women, the top earning age group is between the ages of 46 under 55 yrs of age. Disparity in income between men and women is

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