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Your 2012 income tax return is due on April 15, 2013. What if you can’t get it done on time? Here are 4 easy steps to file your income tax extension.
The New Year’s celebrations are over.
The New Year’s Resolutions are starting. We’ll see how long they last.
Many people feel income taxes are going up. I’m confident they are for the higher income earners.
The Federal Government and the country are set to go off the Fiscal Cliff on New Year’s Day.
The term Fiscal Cliff refers to number of laws that if they remain unchanged, could result in significant tax increases and spending cuts.
The highest ordinary income tax rate is 35%. This is scheduled to go up to 39.6%
No Fifty Shades of Grey here. Here are Fifty Black and White Tax Deductions and Credits.
1) Standard Deduction – Taxpayers can take the higher of the Standard Deduction or their Itemized Deductions.
2) Medical Expenses
3) Medical Miles – The deduction for medical miles is currently 23 cents per mile.