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Kip Tips

No Tax Hikes for the Wealthy -- Yet

The Kiplinger Tax Letter's mid-November installment forecasts a decided delay of Obama's pledged tax hikes for high-income earners. "Obama wants to give the economy time to get back on its feet," the letter reports. The hold on proposed tax increases could extend through the end of 2010.

That buys wealthy baby boomers some time for tax planning, but there's more good news:

Obama's tax agenda next year will focus on long-awaited relief for the middle class, which may include a payroll tax credit as part of the package. Further details are covered in Kiplinger's Tax Letter along with changes and rulings for retirement plans, families, business expenses and more (see subscription details).

Also see  How Obama's Tax Plan Could Affect You to follow our latest Web coverage.