Don't Mess With Taxes

Did you throw a tax party last week? What? You missed the 10th anniversary of the Bush tax cuts?

No worries. They're in place through 2012 so you have more chances to celebrate. But should you?

The ramifications of the tax cuts enacted on June 7, 2001, were discussed last week in my Bankrate Taxes Blog post Tax cuts turn 10.

It's been a mixed bag and one that, thanks to (or blamed on, depending on your political and economic perspective) the continuation last December of the tax breaks, we'll be dealing with until Dec. 31, 2012.

Also last week at my other tax blog I looked at a possible new tax cut, this time for businesses.

Because of the dismal jobs situation, there's talk of giving employers a payroll tax cut. The thinking (hope) is that a lower cost of hiring will encourage companies to add staff.

A corporate tax break that's the employer equivalent to this year's employee payroll tax cut is not a sure deal. But with the economy stalling and hiring falling, it's getting some traction on Capitol Hill.

As always, you can check out my other tax blog's posts at Bankrate, usually each Tuesday and Thursday.

If you miss them on their original posting days, you'll find a reminder here the following weekend of what was posted last week at my other tax blog.

Related posts:

• Tax cuts, 10 years and counting
• Obama, GOP reach tax cut deal
• Merry Taxmas! House OKs tax deal
• Put your payroll tax cut to work
• Payroll tax cut won't benefit all
• Last week at my other tax blog (June 4): What 401(k)s cost Uncle Sam; Adoptive parents wait on tax refunds
• Last week at my other tax blog Archives Page

Want to tell your friends about this blog post? Check out the buttons -- Tweet This, Reblog, Like, Digg This and more -- at the bottom of this post. Or you can use the Share This icon to spread the word via e-mail and online avenues. Thanks!