rws@gypsy.UUCP (03/19/84)
#R:u1100a:-59700:gypsy:22100002:000:255 gypsy!rws Mar 19 10:28:00 1984 Be careful! If you take a tax exemption this year, you might not be able to income average for the next four years, which can hurt you much more than paying taxes now. Bob Schwanke Siemens RTL Princeton, NJ decvax!astrovax!princeton!siemens!gypsy!rws
mbr@fortune.UUCP (04/07/84)
#R:u1100a:-59700:fortune:15800005:000:419
fortune!mbr Apr 6 17:46:00 1984
A recent article in US News & World Report stated that one of the
proposals for reducing the deficit involves changing the conditions
under which you can use income averaging, so that it is much more
difficult to qualify for. I believe the proposal was to change the
averaging period from 5 to 4 years, and change the income increase
threshold from 120% to 140%.
{ihnp4,ucbvax!amd70,hpda,sri-unix,harpo}!fortune!mbrajs@hpfcla.UUCP (04/11/84)
> If you take a tax exemption this year, you might not be able to income > average for the next four years, which can hurt you much more than paying > taxes now. I don't get it. If I take the exemption now, how does that prevent me from income averaging? If it reduces my current taxable income, it should make it EASIER to average in the future, no? Alan Silverstein