3/26/2023 0 Comments Filesafe taxBecause of this, those projections show the deficit rising to a much more modest level. As a result the assumptions of budget projections based on our current law is that the AMT will continue to be out of synch and hit people at ever lower income levels with higher taxes. The AMT now hits people who would in no other way qualify as rich, especially if they live in high-tax states.Ĭongress has made hit and miss efforts to change this by adding the equivalent of a day here and there. With the passage of time, the AMT has fallen out of synch with reality - the fiscal equivalent of a lunar calendar which, unadjusted, would eventually give you Christmas in July. If your tax rate falls below your "alternative minimum tax rate," then you have to pay the AMT rate instead. The "Alternative Minimum Tax" is kind of a parallel tax rate, created in 1969, designed to ensure that very rich taxpayers didn't amass so many deductions that they could avoid paying any taxes. tax code, Jonathan Chait has a fine explanation of the AMT: The winner will be chosen via and have 48 hours to respond to the email with contact info.In case your preferred summer reading is something besides the U.S. This giveaway is open to US residents and will close Maat 12 PM CST. So - you may leave up to FIVE COMMENTS as entries. You also have 4 extra entry options (PLEASE leave a comment for each one):ġ) Follow Motherhood on a Dime by email subscription (or RSS).Ģ) Follow Motherhood on a Dime on Facebook OR Twitter.ģ) Visit the website and enter to win a $5000 savings bond or play the Tax Time game to win a safe.Ĥ) Share this giveaway on Facebook or Twitter. If you’d like, you can tell me what you would use the safe for. I’m very excited, because SentrySafe is giving one of you the opportunity to get a Sentry waterproof & fireproof safe AND a $25 Walmart gift card! I am SO GLAD to be finished with taxes! I’ve promised myself that I’ll stay on top of my paperwork to make things easier next year… Sentry File Safe: Ultimate Tax Time Giveaway One for all my blog stuff…and one for our home and Usborne Books stuff. I decided to put all of my sorted and categorized papers into sheet protectors and store them in a binder. This year with all of the print-outs and receipts, I needed a new idea. Usually our taxes fit into an envelope, and I just store them in the safe that way. Computer back-up (hard drive, flash drive, etc.) You never know when your computer might stop working…and you need all of those documents!.Sentry File Safe (I think it’s a good idea to have a fireproof safe to keep a copy of your taxes in - we asked for one as a Christmas present one year!).Here’s what I included in my tax time survival kit: I had all kinds of blogging expenses and giveaways and all of that to deal with, so I stayed up way too late for several nights getting things together!ĭuring this time, I had the opportunity from SentrySafe to receive a waterproof & fireproof Sentry File Safe and a $25 Walmart gift card to make a “Tax Season Survival Kit”. I’m finally finished up with my taxes! In the past, they haven’t been too difficult, but this year was different.
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