Personal Finance Advice and Commentary

Tuesday, July 10, 2012 11:53 am
By Kay Bell ·

The president’s proposal to extend Bush tax cuts only to lower-income taxpayers is more popular …

Thursday, June 21, 2012 3:08 pm
By Kay Bell ·

Congress and the president continue to fight over how individual income tax rates should look in 2013. President Barack Obama wants to increase the top two rates, currently at 33 percent and 35 percent, to 36 percent and 39.5 percent, respectively. Congress, and by Congress I mean the Republicans who control the House and who

Tuesday, June 07, 2011 4:15 pm
By Kay Bell ·

Ten years ago today the Bush tax cuts became law.  They were part of the Economic Growth and Tax Relief Reconciliation Act of 2001, and the key tax provisions were: Creation of the 10 percent tax rate for the first few thousand dollars of earnings. Cuts in the existing top four income tax rates, topping out

Tuesday, November 16, 2010 11:25 am
By Kay Bell ·

Most tax watchers expect Congress, during its lame duck session that began this week, to continue the Bush tax cuts for at least a little while. Such predictions have prompted a rush to Roth IRA conversions. A Roth retirement account doesn’t offer an immediate tax deduction for any contributions, but there is no tax on the money

Wednesday, November 03, 2010 10:58 am
By Judy Martel ·

How do the results of the mid-term election bode for the wealthy? Well, at first blush, it could mean that the Bush tax cuts enacted in 2001 and 2003 won’t expire for those in the top tax brackets. The Republicans, who gained control of the House of Representatives, are in favor of extending the tax cuts

Thursday, September 30, 2010 2:26 pm
By Kay Bell ·

Politics trumped policy this week. Representatives and Senators left Capitol Hill without voting on the expiring Bush tax cuts. Apparently, Congress believes that their re-election campaigns will fare better without a specific tax vote to point to. Part of the problem, aside from the purely election-driven concerns, was that lawmakers couldn’t agree on what to do about tax