This time of year is often the time for families and friends. It’s a time many use to reflect on the past year or maybe even past decade, and to plan for the next year (decade).
My family is in a new home this year on the beach and our son made the jump, tentative at first, into adulthood. He now has his own place, but it’s just 3 doors down from us.
I’ve re-discovered how much I enjoy working with my clients, one on one, to create huge differences in the amount of money they make, and more importantly, keep. And I’m learning a lot about the new way of doing business in this new economy with the new technology. There are huge opportunities everywhere. But there are also dangers.
I’ve never seen so many strange, ill-thought-out tax changes in my life. It’s hard to know exactly what the public policy behind the taxes is right now. It seems simply a case of “who can we tax that the general public can behind?” And that means ‘tax the rich’. The problem, of course, is that the definition of rich is changing almost daily so that the ‘rich’ will soon be anyone who has a job or some other form of earned income.
Rich won’t mean the guy who lives off passive income. Rich won’t be the person who get public welfare. Everyone else pays more tax, and probably a lot more tax at that!
Keep posted here and at USTaxAid for tax law changes. Megan and I have a busy week ahead of us digesting the last hurry-up bill (the Defense bill with its last minute tax consequences) and now the Health Care bill once the House and Senate come to an agreement.