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New Year brings New Taxes

As the year of 2010 was ushered in with exuberance, so also were new taxes, but without the excitement. Taxes will differ this year with fewer deductions among the middle class and the benefits of yesteryear will vanish. There are now 70 new taxes on small businesses, and the middle class. These taxes and deductions include:

Bush’s enactment of tax breaks will end this year. Obama’s plan for the end of the year is to extend the Bush tax cuts for those who’s income is less than $250,000, but those who are above this income will be taxed without cuts.

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