What is the fiscal cliff and what does it mean for you? Owen Malcolm from United Capital stopped by Good Day Atlanta on Monday to spell out how it could affect consumers, investors and the nation.
Information: If the fiscal cliff is reached...
For a family making $60,000 a year, the federal tax rate jumps from 14 percent to 17.8 percent. Taxes could increase by $2,000, payroll taxes increase by 2 percent and the child tax credit drops to $500 maximum per child.
For the nation, it could cause a recession, and the US economy could shrink. It may mean fewer jobs, taxes go up and the economy goes down.
For investors, most Americans will pay more taxes; new taxes related to the Affordable Care Act; changes in the Alternative Minimum Tax and estate taxes will go up for some.
Sunday, May 19 2013 7:55 PM EDT2013-05-19 23:55:43 GMT
Throughout the month of May, Good Day Atlanta will be featuring an app each day!
Throughout the month of May, Good Day Atlanta will be featuring an app each day! FOX Consumer Reporter Steve Noviello thinks you will find these apps useful, and perhaps you'll even save a buck or two!
Friday, May 17 2013 6:31 PM EDT2013-05-17 22:31:42 GMT
For decades, Atlantans have woken up to Tom Sullivan on their radios. But you might not know that he's also somewhat of an expert eBay seller, and he's got quite a story to tell.
For decades, Atlantans have woken up to Tom Sullivan on their radios. But you might not know that he's also somewhat of an expert eBay seller, and he's got quite a story to tell.
Friday, May 17 2013 11:28 AM EDT2013-05-17 15:28:00 GMT
They say the third time's a charm, and that's certainly the case for Candice Glover. A third try on American Idol was just what she needed, and on Thursday night she was crowned the season 12 champ.
They say the third time's a charm, and that's certainly the case for Candice Glover. A third try on American Idol was just what she needed, and on Thursday night she was crowned the season 12 champ.
Friday, May 17 2013 11:18 AM EDT2013-05-17 15:18:53 GMT
What's better than Friday? FOOD TRUCK FRIDAY! This week, we got a visit from Masala Fresh Indian Street Food, and just like always, Good Day's Buck Lanford was more than willing to have a taste.
What's better than Friday? FOOD TRUCK FRIDAY! This week, we got a visit from Masala Fresh Indian Street Food, and just like always, Good Day's Buck Lanford was more than willing to have a taste.
Friday, May 17 2013 11:17 AM EDT2013-05-17 15:17:48 GMT
Can you smell what The Rock is cookin' next? He's ready for Fast & Furious 6, which opens in theaters on May 24!
Can you smell what The Rock is cookin' next? He's ready for Fast & Furious 6, which opens in theaters on May 24! The Rock --- who almost never goes by his real name, Dwayne Johnson-- joined Good Day to give us a sneak peek.
Friday, May 17 2013 10:18 AM EDT2013-05-17 14:18:11 GMT
Need some great advice about... well, anything? Ask Wendy! Wendy Williams has a brand-new book (called, of course-- Ask Wendy) that offers advice on all the "drama" in your life.
Need some great advice about... well, anything? Ask Wendy! Wendy Williams has a brand-new book (called, of course-- Ask Wendy) that offers advice on all the "drama" in your life.
Friday, May 17 2013 7:54 AM EDT2013-05-17 11:54:05 GMT
For most women, there's a big difference between the wedding you wish you could have, and the wedding you can actually afford. So how can you have your dream wedding and not break the bank?
For most women, there's a big difference between the wedding you wish you could have, and the wedding you can actually afford. So how can you have your dream wedding and not break the bank? We got some tips from an expert.
Thursday, May 16 2013 11:21 PM EDT2013-05-17 03:21:44 GMT
American Idol Season 12 is almost officially over, and now, all that's left is part two of the giant finale.
American Idol Season 12 is almost officially over, and now, all that's left is part two of the giant finale. Good Day's Paul Milliken never met a red carpet he didn't like-- so who better to break down the final performances of the season live from downtown L.A. bright and early!
Wednesday, May 15 2013 5:41 AM EDT2013-05-15 09:41:00 GMT
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
The recession hasn't spared any age group, but it's been especially hard on seniors. More and more Americans 62 and older are turning to reverse mortgages to supplement their cash. But is it right for you?
Wednesday, May 15 2013 5:04 AM EDT2013-05-15 09:04:58 GMT
The amount of money many of us pay in taxes in a given year is often times larger than any purchase we'd make. Where does that really money go? Well, there is a way to find out.
The amount of money many of us pay in taxes in a given year is often times larger than any purchase we'd make. Where does that really money go? Well, there is a way to find out.
Monday, May 13 2013 6:56 AM EDT2013-05-13 10:56:00 GMT
It's pretty normal these days when you're apartment hunting to be asked to pay an application fee. Those fees can be pretty steep, and can be at least $50 for every application.
It's pretty normal these days when you're apartment hunting to be asked to pay an application fee. Those fees can be pretty steep, and can be at least $50 for every application.
Wednesday, May 8 2013 10:01 AM EDT2013-05-08 14:01:02 GMT
Do you recall that New Year budget resolution you made? Do you even remember what it was? Did you even make one? Fox Consumer Reporter Steve Noviello says fear not, there is still time to reset your resolution.
Do you recall that New Year budget resolution you made? Do you even remember what it was? Did you even make one? Fox Consumer Reporter Steve Noviello says fear not, there is still time to reset your resolution or even set up a budget.
