Let's Face It: Our Taxes Are Going to Go Up

You might want to buy extra life insurance, held in a trust outside your estate, to provide liquidity to pay the higher estate taxes that are surely on their way. Life insurance could be a bargain now, compared with later when there is more demand (and when you're older, making you less likely to qualify).

By all means, pay attention to your tax-filing chores. Check your arithmetic before you file. Be sure to sign your return. Think twice about taking the home office deduction, which will invite IRS scrutiny. Double-check the impact of the alternative minimum tax. File online to get a faster refund -- and beware paying your taxes on your credit card, because there's an extra fee. Please remind seniors who don't usually file a return that they must do so this year to collect their rebate.

And do read every tax-tip article you can find in the next ten days. They'll all save you a little money.

But only some serious, big-picture tax planning can mitigate the onslaught of tax increases that are surely on the horizon. And that's The Savage Truth.

1 What would best describe your stance heading into the coming week of trading? Bullish Bearish Neutral 2 Which of these sectors do you think is set to move up in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities 3 Which of these sectors do you think is set to move down in the coming week? --Choose One--Aerospace and DefenseAirlinesAutomobilesBeverages and Food ProductsBiotechnologyCommercial BanksComputers and PeripheralsConsumer NondurablesEnergy Equipment & ServicesHMOs and HospitalsHomebuildingInsuranceIntegrated OilInternet, Software ServicesInvestment Bankers and BrokersMediaMultiline RetailPharmaceuticalsPrecious MetalsSemis, Semi EquipmentTelecom EquipmentTobacco and AlcoholWireless CommunicationsUtilities View the results without voting