Thursday, July 29, 2010

Tax Foundation Tax Estimator

The Tax Foundation, a libertarian/conversative-leaning organization which publishes the Tax Policy Blog linked at right, has developed a calculator which allows users to estimate their upcoming tax liability under three scenarios: all "Bush" tax cuts are retained (recently proposed by three moderate Democrats), all "Bush" cuts go away (the default if Congress does nothing) and the "Obama" budget plan (selective cuts are kept, others expire). One should keep in mind that this will only provide a estimate of the upcoming taxes; nevertheless, this could be an useful tax planning tool.


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