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July 2010

Recs

18

Prepare for the coming increase in taxes

July 29, 2010 – Comments (9) | RELATED TICKERS: X , TA , ES.DL

I've read a few articles on the coming tax hike storm that will hit the middle class like a ton of bricks but as usual US News and World report hits the nail on the head.  I've warned for a couple years now that the mortgage interest tax deduction was going away and should not be relied upon as part of ones decision to buy a home. I was often dismissed with hems and haws and "thats not going to happen".  All of the articles I've read this year confirm that prediction. So those of you who were depending on that schedule A for tax planning, I suggest you find another schedule. Schedule C maybe?  [more]

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