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
.
