Posts tagged with: "tax"
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16 Aug 2011, 2:20 pm
Warren Buffett...apparently not a believer is Reagonomics. [read post]
11 Dec 2012, 4:01 pm
What’s the best way to create wealth? If I had a definitive answer, you can bet your margarita that I’d be typing this from a beach somewhere. From where I’m actually typing this — my Annapolis business law office — … Continue reading → [read post]
18 Feb 2010, 8:27 pm
Looks like naked money grabs have consequences after all.
Leslie Kwoh of the Star Ledger writes about the massive flight of the wealthy from the state of New Jersey (emphasis added):
More than $70 billion in wealth left New Jersey between 2004 and 2008 as affluent residents moved elsewhere, according to a report released Wednesday that marks a swift [...] [read post]
2 Nov 2012, 8:42 am
George Lucas was likely motivated by the looming 2013 tax increases when he chose to sell LucasFilm in 2012, according to this Wall Street Journal Article.
As I previously posted here, there are unprecedented estate tax and capital gains tax savings opportunities that are set to expire as part of the “fiscal cliff” at the end of 2012. Capital gains tax rates are increasing, estate tax rates are increasing and estate tax exemptions are decreasing. Plus, the Affordable Care Act (aka… [read post]
4 Dec 2010, 8:27 am
Why are Democrats forcing a vote on a bill that will extend the Bush tax cuts for the middle-class even though they know it will lose?
In a word, “politics.”
Dave Espo of the Associated Press has the story (emphasis is mine):
[D]efeat on the Senate floor is predictable and the speeches have the ring of the recent campaign season.
But [...] [read post]
26 Jan 2010, 2:51 pm
Barrack Obama has been a godsend for my tax practice. His profligate spending and reluctance to eliminate bureaucratic waste have forced him to take across-the-board aggressive action against tax cheats and delinquent taxpayers in an attempt to close the annual $300 billion tax gap. That means more clients for moi. Lynnley Browning of the New York Times writes of the latest new IRS collection [...] [read post]
6 Oct 2011, 9:11 pm
Greg Mankiw calls the left out on another tax fib in Obama versus Clinton on Tax Policy: One of the common memes about tax policy is that President Obama just wants to return the tax code to where it was during the Clinton years. The problem is, this is just not true. This table from the [...] [read post]
7 Nov 2011, 4:48 am
It doesn’t take a fission engineer to deduce that more people would be willing to risk jail time to save 60% of their income than would be willing to risk jail time to save 25% of their income. Tim Lister of CNN.Opinion writes in Tax Evasion is a National Pastime in Southern Europe (emphasis added): “Wherever the [...] [read post]
10 Mar 2010, 5:11 am
Taxes have consequences.
WebCPA reports that Amazon.com has severed ties with affiliates in Colorado in response to a Colorado law that requires Web retailers to send statements to their customers apprising them of their use tax liability on online purchases:
“The regulations are burdensome and no other state has similar rules,” the company wrote in an e-mail to the [...] [read post]
13 Apr 2010, 6:01 am
From Cato@Liberty, here’s an interesting take on the enormous cost to the public of complying with the current income tax code
Bookmark & Share: [read post]
18 Jun 2010, 7:19 pm
In April Florida lawmakers passed a bill authorizing the state’s first tax amnesty program (“Program”) since 2003. House Bill 5801 was approved by both chambers on April 30, 2010, the closing day of the Florida Legislature’s 60-day session. Governor Crist signed the bill into law on May 28th.
Here’s Ryan Tax Gateway’s press release on the bill [...] [read post]
26 Aug 2010, 8:34 am
Jacob Gershman says that New York imposes a special sales tax depending on how you eat your bagel:
What’s the tax on a bagel? It depends how you slice it — or in the case of New York, if you slice it, The Wall Street Journal reported Tuesday.
State tax officials, under orders from cash-strapped Albany to [...] [read post]
13 Dec 2010, 4:49 pm
Image via Wikipedia On December 13, 2010, the Senate voted to end debate on the Reid bill. The final vote was 83 to 15. This vote suggests that the Obama-Republican compromise will probably pass the Senate. The bill will then head to the House, where many House Democrats are protesting primarily because of the estate tax provisions ($35% tax rate, $5 million exemption, for two years) and other tax cuts for millionaires and billionaires. To some observers, the 35% estate tax rate and $5 million… [read post]
18 Oct 2012, 5:20 am
During the past few years, homeowners living in Trenton, NJ, have found themselves paying increasing amounts of taxes. By some estimates, city taxes have increased nearly 30 percent within three to four years. The amount of money raised by the … Continue reading ? [read post]
15 Apr 2010, 7:08 am
Scott Hodge of the Tax Foundation’s Tax Policy Blog provides further evidence that David Leonhardt of the New York Times just may have an ulterior motive of his own in suggesting that the wealthy don’t fund the lion’s share of government services in this country:
Tomorrow is Tax Day, April 15th, and if the 2009 filing season [...] [read post]
4 Mar 2010, 6:10 am
Joe Kristan tells us that at least 600 Congressional staffers are delinquent in their taxes:
And that doesn’t even count the Congresscritters.
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17 Apr 2009, 9:26 am
With less than a week until Chancellor Alastair Darling's second Budget statement the speculation as to what may be announced on Wednesday 22 April 2009 is mounting. [read post]
6 Dec 2010, 3:24 pm
On December 2, 2010, Senator Max Baucus [D-MT] (Chairman of the Senate Committee on Finance), introduced legislation that would have permanently extended current tax rates on incomes up to $200,000 for individuals and $250,000 for married couples. It also proposed to make significant and permanent changes to federal wealth transfer taxes. Sen. Baucus' proposed legislation was introduced as an amendment to H.R. 4853, the Middle Class Tax Relief Act of 2010. See Baucus S.A. 4727. Sen. Baucus called… [read post]
12 Feb 2013, 5:54 pm
The 2012 Taxpayer Relief Act ushered in many new tax laws. Among them, IRC Section 402A(c)(4)(E) now permits in-plan ROTH rollovers. To qualify, (i) your 401(k) plan must otherwise allow
for a Roth account; and (ii) such a conversion will likely result in current
income tax to the participant. Previously, if you held assets in a 401(k) plan and you were under the age of 59 1/2, you were unable to transfer some or all of your plan assets to a Roth plan under the 401(k) plan. Sarasota and Manatee… [read post]
7 Nov 2010, 9:31 am
When did they start issuing surnames based on the number of brain cells one has in their head?
If you want to understand just how irrational and intellectually dishonest tax protesters are you have to watch tax protester Michele Seven’s incoherent rant against paying taxes in its entirety.
This sad and sorry woman starts by saying that she merely forgot to file her tax returns because she was too [...] [read post]