Taxes in 2011

moneysense · #1 04-27-2010, 10:43 AM

As always, there will be changes in the tax breaks we get. Here is what some of the changes will look like in 2011.

The Making Work Pay credit will be around for another year, with singles getting a $400 credit while married couples filing jointly will get an $800 credit.

Buying a new vehicle? The credit for sales tax on the purchase of a new vehicle has expired.

No more federal estate tax.

These are just a few of the changes, but dont expect them to be written in rock as they can change during the year.

Rae74 · #2 04-27-2010, 05:19 PM

I found this website that has a lot of information about the proposed tax changes and let me tell you some are good and some are bad if you ask me.

There is also a video that tells you exactly who is considered to be middle class and who is not and this video can be rather eye opening.

Check it out for yourself,you might be surprised.

http://money.cnn.com/2010/02/01/pf/t...nges/index.htm

moneysense · #3 04-28-2010, 01:14 PM

Thanks for posting the additional information, but do be aware of the fact that there is a whole year before taxes are due again and many of these new tax benefits will be changed and many will disappear, plus more will be added during the year.

So be sure to keep tabs on what is going on as far as tax benefits are concerned. Because as I said, there will be a lot of changes happen during now and time to file your taxes again.

dimetime · #4 05-02-2010, 06:55 PM

Thanks for the information everyone. Tax laws are always changing and at time it is really hard to keep up with what is going on when.

This information is going to be extremely helpful come the new year, well that is if they don't decide to go and change everything around again before them,LOL.