Wednesday, December 5, 2012

Fiscal Cliff Calculator from

It seems like everybody is talking about the upcoming fiscal cliff. The simple and clear explanation is this: There will be a $607 billion increase in automatic annual tax with more spending cuts if the Congress and White House cannot agree on a solution by the end of the year. That means only few weeks left before the big change kicks it.

So what does it means to you? Generally speaking, more taxes starting next year. We found this great fiscal cliff calculator provided by where you can compare the changes in tax payment before and after the "fiscal cliff" takes effect.

There are other more sophisticated caculators out there, but the one from is the most suitable for the general public instead of employers, accounts, etc.

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