Scott Gottlieb, CPA


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NEWS BYTES
June 2001

Editor: Scott Gottlieb, CPA
Assistant editor: Susan A. Maffetone, CPA

Heritage Foundation Tax Calculator

The Heritage Foundation Tax Calculator allows you to simulate some key elements of the new tax law, signed by President Bush on June 7, 2001.

The Calculator shows the savings to taxpayers of the first year (2001) and fully phased in cuts in marginal rates, reform of the marriage penalty, the dual earner deduction for married couples, the doubling of the child tax credit to $1,000, and the deductibility of charitable contributions by taxpayers who use the standard deduction for tax year 2000.

By entering in your income and a few other bits of information, you can quickly get an idea of how much money this new tax law will save you

The website address is http://www.heritage.org/taxcalculator/

And don’t forget to add this to your bookmark or favorites menu to help you in visiting us monthly. 

Other issues of NewsBytes see our archives

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The materials on this Web site are for informational purposes only and are not intended and should not be construed as accounting advice. This information is not intended to create, and receipt of it does not constitute, a CPA-Client relationship. You should not act upon this information without seeking counsel from a Certified Public Accountant