Things are really going to change NEXT YEAR and the year after that as I understand the ongoing tax debate. Obama and the Dems want to take the tax issue off the table so most Americans will no longer pay any income taxes. In their vision, as I understand it if you make ~$30,000 or less you pay no income taxes taxes; but get a big honking earned income tax credit of ~$3400 based on your number of dependents (thank you tax payers), $30,000 to $50,000 pay no income taxes but get a check back of ~$1000. $50,000 to $60,000 either pay no income taxes or what they pay is cancelled out by the $1000. ~$60,000 to 99,000 pay about what they pay now. The rich are going to get hammered. During the campaign "the rich" were over $250,000. During recent speeches, "the rich" has become 'over $200,000', 'over $150,000', and/or 'over $100,000'. Depending on where they ultimately set that line expect a 4-6% increase effective for either 2009, 2010, or 2011. There is also a strong possibility that they will take the ceiling off of FICA taxes and raise the capital gains rate and the rate that they tax dividend income. We really need to follow what exactly comes out of Washington closely and adjust your tax strategies accordingly.