I think the problems are starting to hit and 2011 will be a big year of reckoning.
Look at the chart to the right. Ugly.
Why is this happening?
There’s the looming end of the Build America Bonds program, questions about how state and local governments will manage their debts, and the impact of huge pension and health care obligations that seem unsustainable.
CLICK FOR FULL ARTICLE: WHAT’S WRONG WITH MUNI BONDS? EVERYTHING .
20 million people will be paying the “tax on the rich” AMT come January if Congress doesn’t amend the law.
Will they? My guess is yes.
Will they resolve the estate tax issues by the end of the year? I doubt it.
FULL ARTICLE: BIPARTISAN VOW: WE’LL FIX AMT
What’s the difference between Fiscal and Monetary policy?
It seems like discussions about these 2 similar, but very different, topics are forever getting confused.
If you’re worried about taxes, deficits, and the debt, is that a fiscal or monetary issue?
I want you to know the difference so you’re the smart one at the cocktail party discussion.
2010 is the year of the Roth Conversion and maybe the end of lower taxes.
In 2010 there are unique Roth Conversion rules that expire at the end of the year.
With higher tax rates next year, what should you do?
Listen to my video below to find out why this is so important.
As a follow up to my video in the next blog, unless Congress passes a new tax law in a lame duck session by the end of the year, higher taxes are in your future.
Here’s the chart
What a disaster!
The Estate Tax exemption is about to revert to $1,000,000 again in just a few months.