Richard Rubin
speaker
1,496 appearances
29 recordings
1 series
first heard Oct 2017
last heard Jan 2024
Richard Rubin’s voice in public audio — every appearance, attributed to the second.
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Appearances
It might appear to raise more money.
And then with everyone sort of knowing they might come along later and fix it and resolve it.
And so it's definitely part of the decisions that Congress makes every time it sets one of these numbers, it tries to figure out should it be tied to inflation or not.
It depends on the bucket of goods and services that you're buying.
I think, you know, for people who are buying things that have gone up a lot in price, then this won't be enough.
And for people who are purchasing less and saving more, perhaps, you know, they maybe this will not be as, you know, maybe this will be more than they need.
It really is going to depend on your individual circumstances.
So again, it depends on what they're doing.
So the capital loss deduction that we talked about is something that tends to be for higher income people.
There's a $200,000, $250,000 set of taxes that take effect when you hit those income levels.
Those have been stuck in the law since they took effect about eight to 10 years ago.
And so more and more higher income people will come into contact with those over time.
And so that, I think, is something that higher income investors and workers, again, depending on their particular situation, might encounter.
So the important thing to remember is these changes don't affect the return that you're going to file in early 2022.
These are changes that take effect for the 2022 tax year.
And then they only sort of get resolved on the return that you file a year and a half from now in early 2023.
And the idea is to help families with children cover the cost of raising children.
matched
And also to, you know, the recent expansions are really designed to significantly reduce child poverty.
matched
Yeah, a credit is a dollar-for-dollar reduction in the amount of tax you owe.
matched
It's not a deduction in the sense that's reducing the amount of income that's subject to taxes.
matched
Showing 401–420 of 1,496 · page 21 of 75
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