New York Times: Searching the Tax Code for Upsides to a Downturn, by Tara Siegel Bernard:
It’s the time of year when personal finance writers offer suggestions on end-of-the-year tax planning. The problem this year is that there are so many unknowns. Are tax increases in the works? Will you keep your job next year? Will your income drop? And what about all those terrible investment losses?
Even some tax experts are scratching their heads.
The biggest question is whether Barack Obama will go ahead with his plans to increase income and capital gains taxes on affluent families — those making $250,000 a year or more — soon after he becomes president. With the economy in such trouble, he may decide it’s better to delay any action.
“It is unlike any other year,” said Rich Kohan, a partner at PricewaterhouseCoopers. “Everything is a struggle this year because of the uncertainty of the economy and the uncertainty of tax rates.” [Hat Tip: Ann Murphy.]
- Associated Press: There Are Still to Chip at Your Tax Bill Before Year's End, by Eileen Connelly
- Newsday: Year-End Tax Tips: 5 Ways to Hold Onto Some Cash, by Andrew Leckey
- Roth & Co.: 2008 Year-End Tax Planning, by Joe Kristan
- USA Today: Do This Now to Reduce Your Tax Bill in April; Nine Last-Minute Easy Steps To Take Now To Lower Your Taxes Come Spring, by Rhonda Abrams
- Wealth Strategies Journals: 2008 Year-End Yax Planning, by Bradley M. Van Buren
- Wall Street Journal: Tax Tips for End-of-Year Giving, by Shelly Banjo
