Today on the Consumerism Commentary Podcast, Tom Dziubek talks to Bob Meighan, CPA and Vice President of Consumer Advocacy TurboTax, Intuit about potential income tax changes for the new year. Bob and Tom talk about the potential sunsetting of the “Bush Tax Cuts” and how it will impact more than just those making $250,000 a year. They also talk about other tax-related topics such as the estate tax, the alternative minimum tax and the new law just passed that benefits those who are self-employed.
Potential Income Tax Changes, Bob Meighan: S04E01 / 104
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Table of contents
[00:00] Introduction from Flexo
[00:33] Interview with Bob Meighan
– [00:46] The tax years impacted if the Bush tax cuts expire
– [01:48] Who would be impacted by ending of the Bush tax cuts
– [03:02] Anticipated congressional action
– [03:45] Impact on dividends
– [04:50] The marriage penalty
– [06:15] Reduced donations to the Coverdell Education Savings Account
– [07:01] Potential impact on personal exemptions & itemized deductions
– [08:18] The alternative minimum tax
– [10:25] The federal estate tax
– [11:31] Non-prescription (OTC) medication & Health Savings Accounts
– [12:10] Health insurance premium deductions for the self-employed
– [13:06] Unemployment benefits
– [13:53] Potential changes that could affect tax filings for 2010
– [15:01] Potential new credits and ones that could be expiring
We always welcome feedback from listeners. If you have any comments for this episode or for any other, or if you have suggestions for future episodes, please leave us comments here or email us at podcast at this domain name.
Updated March 21, 2011 and originally published October 24, 2010. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.