Tuesday is the deadline to file last year's taxes, and we have an early warning about next year. Some of those deductions you count on won't be available in 2013. If you're a school teacher or a parent, if you're married, or if you're thinking of buying an energy-efficient water heater, your taxes are going up.
Despite extending the Bush tax cuts two years ago, President Obama has promised to repeal that package of savings. That means a variety of cuts and credits you depend on could be gone in 2013.
For instance, the payroll tax cut lawmakers extended in February expires next year. That will add up to $2,200 to your tax bill.
If you're married, joint filers will likely pay hundreds of dollars more.
If you're a school teacher and you spend your own money for school supplies for your class, as of now, you can get a $250 tax deduction. Starting next year, it will be gone.
You will only be able to deduct $500 for each child next year, down from $1,000 this year.
Half a trillion dollars in tax hikes are in store next year, including the elimination of a tax credit to install an energy efficient appliance.
Ignoring political rhetoric, the good news is lawmakers will probably find a way to save the more popular Bush tax cuts.
"Tax rates may go up, but the elimination of the marriage penalty will stay, or the expansion of child tax credit will stay," says economics professor Ghenga Ailore.
The president wants Congress to pass the Buffet rule on millionaires and billionaires.
But the Buffet rule would only raise $4 billion a year. The national debt is going up $4 billion a day.
Wednesday, May 22 2013 11:37 AM EDT2013-05-22 15:37:02 GMT
The Ohio Supreme Court will hear the appeal in the case of former Ottawa Hills police officer Thomas White. In January, the Sixth District Court of Appeals overturned his felonious assault conviction. In
The Ohio Supreme Court will hear the appeal in the case of former Ottawa Hills police officer Thomas White.
Wednesday, May 22 2013 12:08 PM EDT2013-05-22 16:08:02 GMT
(TOLEDO, Ohio) -- Ohio Attorney General Mike DeWine is asking for the public's help locating a sexually oriented offender with a felony warrant out for his arrest. James Lee Smith, 50, last registered
Ohio Attorney General Mike DeWine is asking for the public's help locating a sexually oriented offender with a felony warrant out for his arrest.
The Boy Scouts of America will convene a two-day meeting of 1,400 local leaders to consider changing its long-standing ban openly gay boys belonging to the scouting movement.
The Boy Scouts of America will convene a two-day meeting of 1,400 local leaders to consider changing its long-standing ban on openly gay boys in the scouting movement.
Wednesday, May 22 2013 9:14 AM EDT2013-05-22 13:14:38 GMT
NB I-75 shut down north of Cygnet due to accident involving school bus
Around two dozen people were injured Tuesday night in a bus crash on I-75. It happened around 10:30 p.m. in the northbound lanes of I-75, just north of the Cygnet exit
Wednesday, May 22 2013 7:47 AM EDT2013-05-22 11:47:17 GMT
COLUMBUS, Ohio (AP) - Ohio state lawmakers moved boldly Tuesday against storefront sweepstakes parlors they have come to view as illegal gambling operations, advancing separate bills effectively banning
The bill to ban Internet cafes will head to the Ohio Senate floor today. Yesterday a Senate Committee overwhelmingly approved the plans. Two separate proposals would ban operations statewide and block new cafes until the ban takes effect. There are about 800 Internet cafes in Ohio.
Wednesday, May 22 2013 7:32 AM EDT2013-05-22 11:32:46 GMT
LOGAN, Ohio (AP) - State officials say safety improvements are planned after a third fatal fall from a cliff recently in the Hocking's Hills region of southeastern Ohio. The Ohio Department of Natural
State officials say safety improvements are planned after a third fatal fall from a cliff recently in the Hocking's Hills region of southeastern Ohio. The Ohio Department of Natural Resources says signs warning hikers not to leave marked trails are being enhanced. Rangers also have increased trail patrols and are issuing more citations to people who stray from them
Wednesday, May 22 2013 7:26 AM EDT2013-05-22 11:26:32 GMT
CLEVELAND (AP) - The three women held captive in a Cleveland house for about a decade say they are doing fine. That was the message in a letter released by their attorneys Tuesday that also noted a charity
The three women held captive in a Cleveland house for about a decade say they are doing fine. That was the message in a letter released by their attorneys Tuesday that also noted a charity fund to help the women has now raised more than 650 thousand dollars.
Tuesday, May 21 2013 11:11 PM EDT2013-05-22 03:11:02 GMT
Imagine picking up the phone to hear your grandchild is in trouble. You're told not to tell any other family members, and send cash right away. Chances are, it's a crook trying to pull the 'Grandma Scam'.
Imagine picking up the phone to hear your grandchild is in trouble. You're told not to tell any other family members, and send cash right away. Chances are, it's a crook trying to pull the 'Grandma Scam'.
Tuesday, May 21 2013 8:22 PM EDT2013-05-22 00:22:27 GMT
Relatives of three teenagers killed in an Ohio school shooting are suing a charity that maintains a fund set up to benefit the families and support the well-being of students and others in the affected community.
Relatives of three teenagers killed in an Ohio school shooting are suing a charity that maintains a fund set up to benefit victims' families and support the well-being of students and others in the affected community.
Tuesday, May 21 2013 6:08 PM EDT2013-05-21 22:08:56 GMT
A Toledo family who moved to Moore less than a year ago only had minutes to take cover. "Its devastation buildings are ripped down families lost their homes houses are flattened." It's been a difficult
A local woman who moved to Moore Oklahoma almost a year ago survives a deadly tornado. 21 year old Kristina Legree says the twister touched down a mile for her home.
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