next year on taxes

The damn ATM tax got us this year.

What is the ATM tax?

Tammy it will be worse next year. If the Senate passes the new laws it will kill us next year. My accountant has been doing my taxes for 25 years says they will do something. They have to. He advised us to change our deductions to married 0. So at least we wont owe in case this happens. KYSIDE38

Sorry Steelers, it called AMT Tax which is alternative minimum tax.

Tammy he had all kinds of info on this posted in his office. He said we will have to watch what they do in this session of legislature. Hopefully with an election year coming things wont get too bad. KYSIDE38

Just another way for Uncle Sam to get our money so he can fund things that he should have stayed out of in the first place.

Boy, that really stinks for anyone in that income bracket. :evil:

So besides the ATM tax, what else are they considering? I have no deductions anyway, so I'm always screwed... :evil:

I remember reading where theya re only going to have the 1000.00 child tax credit for a few more years too. Does anyone else recall hearing anything about that?

yeah I fell real sorry for those who make over $60K a year, sorry no symnpathy here, try making it on minimum wage and supporting a family. I personally believe the more income you make the more taxes you should pay.

I do not hold anything against somebody who makes more than $60,000/year. You never know a person's situation, just because they make a certain amount a year doesn't mean they aren't struggling. They could be living with a medical crisis for themselves or taking care of a chronically ill family member with high medical costs out of pocket. I know, I make a very decent salary, but yet I find myself struggling because I am taking care of two disabled children with chronic medical conditions for which no amount of salary could compensate for the out of pocket expenses it costs to care for them and their needs. It is unfair to judge somebody because they make a certain amount of money per year. I know I have busted my a$$ and climbed my way up the ladder to earn what I make on an annual basis.

I guess I don't really agree with hometwoemail on that point. I don't hold what someone makes against them. They're just people, like you and I, they just make more money, and they probably had more schooling and possibly had a few more advantages early in life than I did. They might have the same rotten financial situation I do - they just have it on a larger scale. It's six of one and half a dozen of another in my book.

You also have to look at what part of the country they are in, as the cost of living is different in different parts. Here where I am, trust me, 60k is not that much.

When making a statement like that hometwoemail, you need to consider that people making that amount don't leave on easy street. People have insurance, 401k, and other things taken out of their paycheck. My husband makes good money, but after all is taken out of his paycheck, we pay the monthly bills, we have just enough to get groceries and gas for both vehicles. We can barely make it paycheck to paycheck.

62k in Cal is nothing.. Trust me with rents for 1 bedrooms over 1200.00 a month.. Car Insurance is really high.. the Cost of living is very high here.. and after taxes you are lucky to have money left for any fun forget making ends meet...

You are so right, PDL. The rent for my two-bedroom, hole-in-the-wall is $1045 a month--and trust me, that is a DEAL in Northern California!! So like I said, it really depends on what part of the country you are in!