Some Thoughts On “Review & Outlook: The Buffett Alternative Tax”
By the same token it punishes lower income people who have a one time income infusion. When my husband and I married, we each owned a home improvement tips. This was before the capital gains tax was eliminated for selling your primary home. We were both in the lowest tax bracket at the time, but the sale of my home pushed us into a higher bracket. This cost us $5,000 in additional taxes.
The frustrating part of the whole deal was that Clinton was dragging his feet on eliminating the capitol gains on homeowners, but it finally went into effect the year after we sold the home.
That is another problem with tax law. It changes minute by minute, so some are punished one year for doing something and others are regarded the next year for doing the same thing and vice versa.
