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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 72254  
Subject: Fiscal Cliff Tax Changes Date: 1/1/2013 5:52 PM
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The best summary I have seen of the new tax compromise passed by the US Senate and now pending in the house is here--

http://www.nytimes.com/interactive/2013/01/01/us/the-mcconne...

>Dividends and Capital gains stay at 15% for most of us, but go to 20% for incomes over $400k single/$450k married permanently.

>Estate tax to 40% for amounts over $5mm single or $10mm family permanently.

>AMT indexed to inflation permanently

>Extends unemployment, the farm bill, delays fiscal cliff spending cuts and Medicare payment cuts to physicians

>No action on the temp reduction in withholding or the debt ceiling. Republicans still want more cost cutting.

I saw an AP story indicating changes in the rules for conversion of IRAs to a Roth, but search turned up no details.
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Author: pauleckler Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 71188 of 72254
Subject: Re: Fiscal Cliff Tax Changes Date: 1/2/2013 12:08 PM
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Today we learn they also extended tax credits for wind farms and presumably renewable energy sources like solar, but no details yet. Is ethanol included?

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