Editor's Note
Here at AccountingWEB we're very excited that Melissa Etheridge
is staging a tax protest resulting from the passage of the
controversial Proposition 8 in California. Any time people talk
about taxes is good news for accountants, and this is no
exception. If voters drew a stronger connection between their
elected officials and the results on the bottom line of their
tax return, the elections would be perceived on a more personal
level and voters would realize that their votes really do
impact their lives.
Best regards,
Gail Perry, CPA
Managing Editor
editor@accountingweb.com
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Obama's tax decisions will define income tax systems for years
"Tax policy decisions ahead: President-elect Obama's call for
change," prepared by the Tax Policy Group of Deloitte Tax LLP
in Washington, D.C., predicts that with Barack Obama in the
White House and a strengthened Democratic Congress facing huge
budget and tax issues, the outlook is for changes in tax policy
in the next two years that could determine the size and shape
of our income tax systems for the foreseeable future.
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Year-end tax planning checklist includes tips for 2008 tax savings
We may have a new President-Elect, but taxpayers have only six
weeks to make certain moves that will help ensure tax savings
when they file in April 2009. According to Bob Trinz, Senior
Tax Analyst for the Tax & Accounting business of Thomson
Reuters, "Factors that challenge year-end planning include the
stock market's swoon, the economic climate, and the strong
possibility of tax changes next year. In fact, there might be
another economic stimulus package enacted before the end of
this year."
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Melissa Etheridge suggests California gays stop paying taxes
Since the recent passage of Proposition 8 in California
restricting the definition of marriage to a union between a man
and a woman, homosexual men and woman and those sympathetic to
their cause have engaged in numerous protests. Singer,
songwriter Melissa Etheridge has chosen to voice her objection
to the legislation by encouraging a tax revolt.
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Blog: Year End Planning is Good Marketing
The year-end is fast approaching. While the economy is
dominating everyone's thoughts, this is the best time to get
the attention of your clients. What better way to demonstrate
your concern and your commitment to them than by offering some
proactive year-end, tax planning suggestions.
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Preserve tax break for life insurance proceeds
Life insurance proceeds paid upon the death of the insured
person generally are exempt from federal income tax. But income
taxes aren't the end of the story. When death benefits go
directly to a beneficiary other than a surviving spouse - such
as a child or a sibling - the proceeds potentially are subject
to federal estate tax.
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