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More time for the super committee?

November 2, 2011

We're barely into the Super Committee Countdown and here comes word that the panel might vote to give itself more time to craft a deficit cutting deal.

22 Days Super Committee CountdownOnly in D.C.

I guess we shouldn't be surprised by such postponements from the folks who regularly bring us continuing budget resolutions and retroactive tax laws.

I'm not sure, however, just how to read the possible push back of the Joint Select Committee on Deficit Reduction's Nov. 23 deadline.

It could be an indication of just how far apart Democratic and Republican members are. That's the conventional wisdom.

Or, if I opt to be a glass half full kind of gal (and we all know that's perky me!), it could be seen as a signal that real progress is being made and the committee members just want to make sure they don't have to rush to dot all the I's and cross all the T's.

Yeah, that's what's happening.

In the meantime, while the super committee dukes things out goes about its work deliberately, PopVox has come up with an interactive program that lets us tell (after registering) the Representatives and Senators exactly how they should trim between $1.2 billion and $1.5 billion from the federal budget deficit over the next 10 years.

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The More Tax Posts tab at the top of this page will take you to, well, more tax posts. You also can search below for a tax topic. 

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TAX-SAVVY WAYS 
TO WRAP UP 2026

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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