Posts tagged with: "tax"
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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]
21 Oct 2011, 5:00 am
More corss border tax issues for Trustees to consider. [read post]
9 Sep 2011, 7:58 am
Do you remember last year’s debate about whether or not we should extend the Bush tax cuts? Do you remember how the Democrats and their soak-the-rich friends kept insisting that the expiration of those tax cuts did not amount to a tax increase? On July 25th, 2010 I wrote the following in a post titled Truth & Taxes: Not Extending the Bush [...] [read post]
27 Oct 2010, 8:03 pm
Tax law Professor and blogger Linda Beale today wrote exuberantly about the IRS’s crackdown on tax preparer abuse in Tax preparer — old abuses, new procedures.
Here’s an excerpt:
The days of just anyone becoming a tax return preparer and playing havoc with the rules, as some have, seem to be winding down.
The courts, for one, are now taking [...] [read post]
24 Nov 2009, 1:17 am
Even before the Chancellor's Pre-Budget Report 2009 on 9 December the Conservative Party has indicated that they will have an 'emergency' Budget within fifty days of winning the general election next year. [read post]
5 May 2011, 1:57 pm
According to the Wall Street Journal the rich are not only funding the bulk of our federal government, they are funding it at a rate that is increasing faster than their share of income.
From the Wall Street Journal’s High-Earning Households Pay Growing Share of Taxes:
As President Barack Obama pushes to raise income taxes on high earners, opponents are [...] [read post]
21 Dec 2012, 12:52 pm
It’s t-minus four days to the peak of the gifting season, Christmas, and we seem entirely occupied with the end of the world, the fiscal cliff, the end of the recession and the general end of sanity as we know it. … Continue reading → [read post]
10 Feb 2010, 8:44 pm
Maggie Fox of Reuters writes that a study released by the Cancer Action Network, the advocacy arm of the American Cancer Society, the Campaign for Tobacco-Free Kids, American Heart Association, American Lung Association and the Robert Wood Johnson Foundation shows that,
[A]dding a $1 per pack tax to cigarettes could raise more than $9 billion a year [...] [read post]
24 Jan 2012, 8:48 am
Tax changes that President Barack Obama and Congress hammered out in the final days of 2010 discouraged clients from seeking estate-planning advice last year, even though estate lawyers argue there are many planning opportunities that shouldn't be missed. [read post]
19 Jul 2011, 9:00 pm
With the new estate tax laws in place, including the $5 million exemption ($10 million for a married couple), many people are enjoying a false sense of security about any potential estate tax liability. First, as Forbes recently pointed out, keep in mind this new generous law expires at the end of 2012 … and it’s anyone’s guess what will happen next. [read post]
10 Jan 2012, 11:20 am
Did you get any exciting gifts this holiday season? What’s not so exciting are the tax implications that may come with them. We often get questions about those implications this time of year so let’s take a look at some of the most common tax myths about gifts. [read post]
19 Jan 2011, 7:27 pm
William Gale of Brookings in What Will it Take to Reform the Tax System tells us why reforming the tax system is so difficult:
Taxes are already built into the fabric of almost everything people and businesses do. Whether it is a business hiring a worker, making an investment or offering health insurance, or an individual [...] [read post]
22 Oct 2010, 9:00 am
On October 20, 2010, Citizens for Tax Justice (CTJ) published State-by-State Estate Tax Figures: Number of Deaths Resulting in Estate Tax Liability Continues to Drop (PDF). CTJ advocates for a "more robust estate tax than what president Obama proposes." Specifically, CTJ would like to see S. 3533, The Responsible Estate Tax Act, enacted. The article states that S. 3533 is the best proposal and is the "most fiscally responsible estate tax proposal introduced during this Congress." (I described the… [read post]
27 Jul 2010, 4:05 pm
Kay Bell reports that Theresa Heinz Senator John Kerry will pony up the Massachusetts’ use tax due on his $7 million yacht:
OK, Sen. John Kerry is tired of all the yacht tax questions.
Kerry announced this afternoon that he’s paying all Massachusetts taxes due on his new $7 million yacht even though it’s docked in Rhode Island, where he [...] [read post]
15 Feb 2010, 2:57 pm
Robert Gehrke of the Salt Lake Tribune writes in an article titled Tobacco Tax is Personal for Utah Lawmaker that,
Rep. Paul Ray doesn’t need to look far to see the toll of a lifetime of smoking. His mother wheels an oxygen cart with her since she was stricken with emphysema after nearly 50 years of smoking. [...] [read post]
19 Jul 2011, 9:00 pm
With the new estate tax laws in place, including the $5 million exemption ($10 million for a married couple), many people are enjoying a false sense of security about any potential estate tax liability. First, as Forbes recently pointed out, keep in mind this new generous law expires at the end of 2012 … and it’s anyone’s guess what will happen next. [read post]
1 Nov 2010, 5:29 pm
Howard Gleckman has written an interesting blog post about why so many Americans are unaware that President Obama has signed tax cuts into law benefiting approximately 97% of American households:
Michael Cooper over at The New York Times stopped off at the Pig Pickin and Politickin rally in North Carolina the other day to ask folks about the Obama tax cuts. Their [...] [read post]
4 Jun 2011, 2:15 pm
The Huffington Post says protesters are going to march in front of Apple stores today in opposition to it’s tax practices:
Protesters are set to visit Apple stores Saturday to oppose the company’s federal tax practices.
Apple doesn’t pay its fair share of taxes, and now the technology company is trying to get another tax break, says grassroots [...] [read post]
21 Oct 2010, 11:58 am
WebCPA reports that a Buffalo, New York pizzeria owner who failed to pay New York State over $100,000 in sales taxes has been ordered by a judge to deliver 12 free pies a week to a local charity that serves the poor:
Joseph Jacobbi, owner of Casa-Di-Pizza, has repaid $51,000 of the $104,295.31 tax debt so far, [...] [read post]
30 Sep 2011, 5:33 am
The Economist has published a chart showing which countries take the biggest share of a citizen’s $100,000 salary: (Hat Tip: Paul Caron) Bookmark & Share: [read post]