Planning for How Tax Changes Will Affect You

Tax law changes relatively often. Major tax reform is rare, but rules and regulations, especially at the state level, have a tendency to fluctuate, and this can mean that you see slightly different results in your tax returns from year to year. For example, in 2018 a number of IRS filing changes took effect, including a much larger standard deduction and a lower mortgage interest deduction.… [Read more]

The Key Tax Changes to Anticipate in 2017

Back in October, the IRS announced a number of key changes to policies regarding taxes, both for individuals and businesses. As we enter 2017, it is important to anticipate these changes coming into effect. These changes will affect the taxes you file for the fiscal term of 2017. What are the key changes to anticipate this year?… [Read more]

How to Save Money on Your Business Taxes

Business taxes are an unfortunate part of doing business. They come under many names, such as corporation taxes, but the reality is this is the government attempting to claim their slice of your pie. Do everything you can to reduce your business taxes and you can save thousands every year.

Let’s take a look at this complex issue.… [Read more]

Affordable Care Act and Taxes for 2015

Since the Affordable Care Act took effect in 2010, the number of uninsured Americans has dropped from 18 percent to 13.4 percent at the end of the 2014 enrollment period, according to a Gallup poll. The law has had its ups-and-downs, but appears to be working the way Congress and President Barack Obama envisioned it.

Each year more provisions of the law go into effect.… [Read more]

Pinocchio’s Nose

This morning I heard 3 commercials for 3 different Republican candidates and they all said a variation of the same thing:  “I will protect your freedoms from the encroachment of growing government.”

Great line. Who wouldn’t want that? It resonates and there is a lot of evidence of that “growing government” by which to give the statement credibility.… [Read more]

Distribution of wealth in the USA

The United States has a significantly unequal distribution of weallth when held in comparison with other developed countries across the globe. So much so that recent figures state reveal that in the US 75.4% of all wealth is owned by the richest 10% of the population. This means that the US has the most extreme wealth concentration of any of the top 20 developed nations in the world.[Read more]

How corporations protect the rich

There are a multitude of tax breaks and subsidies provided by federal, state and local governments which protect the financial interests of rich corporations. These include direct federal subsidies to corporations which allegedly cost taxpayers over $100 billion each year. (Image Source) In addition to federal subsidies, many corporations also receive state and local subsidies. Louise Story calculated that state and local governments provide at least $80 billion in subsidies to corporations, with over 48 major corporations receiving over $100 million each.This is mainly due to the fact that state and local governments fear these major corporations will move their jobs overseas if they do not receive subsidies from the US.… [Read more]

Tax Traps to Beware of in 2014

When Americans all across the country rang in the New Year, many breathed a sigh of relief for more than a few reasons. First of all, taxpayers no longer have to wait for Congress to finish constituting the tax laws that impact their 2013 returns and, secondly, the American Taxpayer Relief Act — which went into effect last spring —  will extend many advantageous provisions for recently filed returns.… [Read more]

Department of Justice Suing Texas over Voting Rights

Well, well, well…look here, y’all!. The Justice Department is fired up and ready to go. Breaking news is that the Justice Department has officially announced that it will file suit against the state of Texas, the Texas Secretary of State, and the Director of the Texas Department of Public Safety over the State’s strict voter photo identification law (SB 14).… [Read more]

Death and Taxes

April has come and gone, and virtually all of us have dutifully filed a tax return or an extension. The anti-tax mob hasn’t gone anywhere. Somebody’s going to have to pay the tab, according to their means. Despite the sequester that wasn’t supposed to be, replete with “For special friends of Rick’s” special interest mulligans, the bugaboo of taxation hasn’t left us.… [Read more]