Sales Tax deduciton

[Skeemo]

Is the sales tax deduction in force for 2007? If not opinions of the likelihood it will be extended...

[solomon]

Yes

but this is the last year. Extension? Who controls Congress.

[veritas]

More importantly

what is going to happen with AMT? I'm thinking they are going to let it stay with the lower exemption.

[solomon]

With Biden

introducing a bill to do away with the education credits and tuition/fees deduction and replacing with a new one, may be there will be some trade off with AMT hopefully.

[LTS]

what are they thinking?

what is going to happen with AMT? I'm thinking they are going to let it stay with the lower exemption.

the current AMT exemption amounts are bad enough - not having been indexed or increased for years and years - the amounts need to be increased.

if the exemption amounts are lowered ( i think this is what is proposed to happen?), the tea may again be dumped in the Boston harbor.

[Chief]

Dump the tea in Boston Harbor

and drink Crysal Delight. Its Peach Tea is better than the real stuff.