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Letterman’s Top Ten Budget Surprises

February 3, 2010

No, not Dave's personal budget. Not even the money allocated for his Late Show program.

We're talking the fiscal 2011 U.S. budget that Obama released this week.

I looked at some of the tax provisions in the prez's financial wish list for the country. But leave it to Letterman to find some things in the 192-page document that I missed.

So in case you didn't catch Dave's reading of revelations on Monday night, here are his Top Ten Surprises In The $3.8 Trillion Federal Budget:

10.  3.5 trillion dollars given to committee fighting overspending

  9.  President now has to pay $25 for each bag he brings aboard Air Force One  

  8.  Cut NASA budget so much, next mission is to New Haven, Connecticut

  7.  Estimate does not include convenience fee of $3.95  

  6.  Government is raising the money by sending out a drunk Rip Torn to rob banks

  5.  United States pays for Ahmadinejad's tan windbreakers

  4.  It allocates five billion dollars for a giant wallet to hold all money

  3.  Don't tell him, it's a surprise, but McCain's getting a new Craftmatic adjustable bed

  2.  One billion dollars research grant to figure out what the hell iPad does


And the number one surprise in the $3.8 trillion federal budget – 

  1.  The naked centerfold of senator-elect Scott Brown.

Ewwww! I certainly am glad I missed that!

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It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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