Three Tax Topics to Keep Up With

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Please join me Sat, July 25th for a FREE! Teleseminar “Opportunities and Pitfalls in 2009 Tax Law Changes.” It’s at 9 am Pacific, 10 am Mountain, 11 Central and Noon Eastern. Get registered at DianesSeminars.

There are three main tax topics that we’re watching at USTaxAid and my tax practice:

( 1 ) Income tax

We’re looking at all the income tax changes – federal and state. There is one thing that’s for sure. Taxes are going up. And it all seems to be about “tax the rich.” But, who is rich? And just how much tax do you think the “rich” can stand before they move their businesses, and their jobs, out of the country? You don’t want to be the last one to hear about these taxes. You can make some changes now that will help you in 2009.

( 2 ) Employment taxes

This one is still silently, steadily there. Google “David Walker” sometime and watch his videos over at David Walker is the head of the GAO, the US’s head accountant. He’s been on the road since 1/08, preaching a pretty sobering message. The interesting thing is that NO ONE is disagreeing with him. The far right and the far left all agree that he’s talking about the problem no one else is.

That’s Social Security and Medicare. January 2009 saw the first of the Baby Boomers drawing Social Security. In three years, they’ll be eligible for Medicare. According to the accountants for the US, we need to have $6 trillion put aside right now to cover the first few years of the draws.

Know how much we have? Zero. And where do you think the shortfall is going to come from? This will be the mother of all bail-outs and you get to pay for it directly.

Learn more on July 25th on my special teleseminar DianesSeminars.

( 3) State sales tax and income tax

I left the biggest one for last. This is a huge mess and I’ll go over the things you need to be careful of when it comes to nexus. In fact, I’ll tell you the calculation I just made this past week for my business that you need to as well. Miss this one, and California might be in your pocket even if you don’t live there and your business isn’t there.

Join me Saturday!

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