Taxes – 2010+ – How to Keep Your Cash – Know Changes & Take Action

Tax Day of April 15, 2010 has just passed. As a CPA I saw people forget about income taxes and planning -- then cringe when next year’s tax bill appeared. It’s up to you to keep the cash you earn.

NOW is the time to plan 2010 and also future years, so you can manage your income tax outlay legally and ethically. To plan you need some info on changes that are coming. I received this info and share it with you. The source of the information is a CPA with special expertise in taxes.

The information is about Federal taxes – both direct and indirect taxes. Direct taxes are those that affect you directly on your tax return.

Indirect taxes are taxes that are hidden, but you pay them whenever you buy something. Example: A federal tax imposed on medical supplies or drugs that the medical supply company must pay is passed onto you in the form of higher cost of the medical supply when you purchase it. You might call it a ‘sales tax’ added onto the cost of the product or service you buy. In each case, the real cash comes out of your pocket and goes to the government.

Hope this is helpful. If you learn of other taxes and costs that affect you, please share them with all of us so that we can manage our money better.

Here’s the website for the Federal tax information with 2 articles shown below, By John Campbell, Masters Degree in Taxation. For state information, seek your state resources.

http://www.flashreport.org/blog.php?postID=2010041609535122
**The Tax Man Cometh – 2010 Edition - Taxes Enacted in 2009
** Pending Tax Increases if Congress Take No Action – effects on all levels of taxpayers

It is time to plan and manage your cash and prosperity!
Keep your cash and spend it wisely for your family and community.

Barbara Filla
Thrifty Is Nifty Community

P.S. This info will also be posted in my “Thrifty Is Nifty” Community for future reference, so join now for access and refreshment as you need it in the future.