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The Short Answer

Family-Friendly Tax Breaks at Risk From Fiscal Cliff

Higher tax rates and government-spending cuts aren't the only potential changes that might affect household finances.

Mentioned:

Question: I know the fiscal cliff might mean a higher tax rate for my family and me, but what family-oriented tax breaks also could be affected?

Answer: Federal income tax rate hikes and spending cuts seem to grab most of the fiscal cliff-related headlines, but many other less publicized tax changes also are scheduled to go into effect Jan. 1, including several that will hit families hardest.

Adam Zoll does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.