LTE: Tax Time….

The end of 2009 comes close to a end, and soon we will be thinking about Income Taxes. Many received up to thirteen dollars a pay period extra on their checks, the so called stimulus tax rebate. Well in 2010 that rebate becomes income and taxable. Social Security Recipients received $250 and that as well is income and taxable. What is wrong with the $13 a pay-period is its your money that you would have received as a refund when you filed income taxes. So now it will be income and taxed again and your normal income tax refund you receive each year will be that much lower, and a few bucks more for the taxes owed on your rebate. It would have been better not to have received the money then to have the government tax you on already taxed money and in the end you loose. Think Obama wont tax you, he just did and you fell for it. Look forward to many taxes ahead. The question is, will you recognize the tax when it happens???

Ed McGarvey
Hooversville

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