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12-05-2012 02:59 PM  7 years ago
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westwindpilot

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Las Vegas, NV

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If and when bush tax cuts expire
Hey guys, it seems I cant get a firm answer on this locally and cant find the answer on the internet.

I have a good feeling the bush tax cuts will expire at the end of the month but I cant understand something.

When they expire at the end of the month, will this affect the taxes I submit in a couple months or the next years taxes?

Cant seem to find a firm answer.

Thanks guys
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12-05-2012 03:04 PM  7 years ago
GREYEAGLE

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Do you have a Mortgage tax deduction ???greyeagle
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12-05-2012 03:05 PM  7 years ago
westwindpilot

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I rent a house so I believe no
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12-05-2012 03:09 PM  7 years ago
GREYEAGLE

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Well the owner might so he will pass the cost's - Your rent may go up.

It's like a pyramid - the elimination's will fan out - even into the stealth taxes. The elimination's are just another way to re- activate.
greyeagle
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12-05-2012 03:13 PM  7 years ago
westwindpilot

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Ok. So when I file my taxes that will not change for this year?
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12-05-2012 03:31 PM  7 years ago
irocu88

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norfolk,va

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If they expire at the end of the month...should'nt they affedct next year taxes and not 2012? or am I wrong?Caliber 90 FT os91 c-spec
Caliber 50, OS50 hyper
Caliber 30 OS37
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12-05-2012 03:35 PM  7 years ago
GREYEAGLE

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Sincerely:
Know one knows until the code's are activated: Their have been over 6000 change's. Their is also quite a lead / lag in the system between civilian filing and business filing's, and federal and state deadline's.

Most will have filed long before the change's are activated.

Whole lot of HUH ???

I would suspect any one in the commercial preparation business or CPA / audit firm's is just about tearing their hair out already.

Just the business administration area of medicine { paper work} & Insurance's is getting strange. The IRS is going to be running or monitoring the system. Medical service's and doctor's are getting out !

Interesting is ALL the National Ad's " Businesses" for Legal Tax help on past filing's with the Fed . Both Commercially and Publicly. Look for EM. Tax attorney's are going to make a pile $$

National Ad's 1-800 I got Busted so help !

That 's what they voted for
greyeagle
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12-05-2012 04:40 PM  7 years ago
ssmith512

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Indianapolis, IN USA

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They will effect 2013 taxes. They will not effect your 2012 tax return. In 2013 your take home pay will be less (assuming same gross pay as 2012).Steve
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12-05-2012 06:42 PM  7 years ago
PsychoZ

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Northern, CA

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5 years later and we are still dealing with Bush's great accomplishments.Tea Parties are for little girls with imaginary friends
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12-05-2012 06:47 PM  7 years ago
GREYEAGLE

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Simpler:
Simpler:

You will go home Friday nite and have to write a check to the company because you did not dig enough coal this week.
greyeagle
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12-06-2012 01:20 AM  7 years ago
hams

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Ohio

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5 years later and we are still dealing with Bush's great accomplishments.
Please elaborate?
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12-06-2012 01:28 AM  7 years ago
baby uh1

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St. James, Mo.

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He would rather have been paying more all along.
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12-06-2012 01:32 AM  7 years ago
hams

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Ohio

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He would rather have been paying more all along.
I am well aware...

Just wanted to hear it from him
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12-06-2012 01:48 AM  7 years ago
pctomlin

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Texas

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5 years later and we are still dealing with Bush's great accomplishments.
Can't wait to see what his first post will be after he receives his first paycheck in January. Bet money I will be ROFLMAO
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12-06-2012 01:55 AM  7 years ago
Dennis (RIP)

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Oregon

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It will not affect your 2012 tax return. But, it will affect your 2013 payroll tax deductions. When you file your 2013 tax return in 2014, it's likely you will get a smaller refund depending on your income.
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12-06-2012 01:57 AM  7 years ago
dilberteinstein

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texas - USA

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ssmith512
They will not effect your 2012 tax return
True, but it can ruin the rest of the year thinking about it.
90% of life is "showing up"
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12-06-2012 02:11 PM  7 years ago
fla heli boy

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cape coral, florida

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5 years later and we are still dealing with Bush's great accomplishments.
That's because they weren't made permanent, which they should be.
Easy for you liberals to toss tax increases out there when it doesn't affect you. Hell, I think we oughta have a 40% tax surcharge on all liberals from Cali and Chicago. Who else agrees????
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