Taxes

These 4 questions could change your views on tax fairness

Here’s how pliable our tax attitudes are.<p>“Do you think low-income Americans pay too much, too little, or a fair amount in taxes?”<p>This question was part of a tax quiz we published in February. About 7,000 of you answered four knowledge questions, as well as questions about how fair you thought taxes …

Social Justice

Donald Trump’s Tax Plan—The Rich Pay Less, and You Make Up the Difference

The higher up the totem pole you already are, the better you’d do under the Trump plan.<p>Now that Donald Trump has failed in his campaign promise to promptly repeal and replace Obamacare with something better, it’s time to turn to his next promise: tax reform.<p>Don’t be fooled. Trump has already …

Accounting

Even Republicans think the rich aren’t paying their fair share in taxes, but …

Both President Trump and House Speaker Paul D. Ryan want to slash taxes mostly for the wealthy, but most Americans think the wealthy already pay too little.<p>According to a Gallup poll from last April, 61 percent of Americans feel that the rich contribute less than their fair share in federal …

Social Justice

9 Big Questions About GOP Tax Reform

If they can overcome fallout from the health-care debacle, and the looming prospect of a self-inflicted government shutdown, Republicans would very …

Tax Reform

The myth of the 70,000-page federal tax code

The US tax code is definitely complicated at points, so it’s no wonder that the claim that it is 70,000 pages long has become a widely cited factoid, most recently in messaging from Republicans on the House Ways and Means Committee, the committee that’s leading the Republican effort to simplify and …

Government

Tax Reform? No. Tax Cuts? Probably. Maybe.

Several excellent items, beginning with budget maven Stan Collender's column in Forbes, are arguing just how hard tax reform will be to accomplish. That is, everyone is expecting Donald Trump to reprise one of his greatest hits and claim that nobody knew taxes could be so complicated.<p>Democratic …

Tax Reform

Trump could borrow Hillary Clinton’s plan for a bipartisan deal on taxes and infrastructure

It’s not a very good plan. But it is a plan.<p>Back when Democrats thought Hillary Clinton was going to win the election and face the need to deal with a Republican House, they had a plan for legislation that would combine an aspect of corporate tax reform with a push to increase infrastructure …

Corporate Tax

What to Expect From President Trump's Tax Reform Plan

Now that the president's focus is shifting to taxes, here's what to expect.<p>After Republican leaders in the House of Representatives decided to pull …

Tax Reform

What Is the Maximum Social Security Tax in 2017?

Social Security provides critical benefits to millions of seniors and disabled Americans, but the money for the program has to come from somewhere -- namely, your paycheck. The amount of Social Security tax you'll pay will depend on your income, but if you're a high-enough earner, you could pay a …

Social Security

Any more self-employment tax raids 'politically catastrophic', says policy guru

The Tories face “politically catastrophic” consequences if policymakers attempt to use quick fixes to equalise taxes paid by employees and the self-employed, according to the head of a government review into modern employment.<p>Matthew Taylor, who was appointed by the Prime Minister to lead a review …

Employment Law

When Is It OK For Democrats To Work With Trump? A Handy Guide

Suddenly, Democrats are in demand.<p>Suddenly, Democrats are in demand. With the Republican caucus fractured and even moderate Senate Democrats feeling feisty, the road to legislation now runs through minority leaders Sen. Chuck Schumer and Rep. Nancy Pelosi.<p>Senate Republicans have indicated that …

Tax Reform

The most tax-friendly state for you? It depends.

In retirement, when every single dollar of income counts, moving to a tax-friendly state – a place where you’ll get the most after-tax income possible – makes a good deal financial sense.<p>But the most tax-friendly state for you and your household will depend on your sources of income and how states …

Retirement

IRS loses lawsuit in attempt to get Amazon to pay $1.5B in back taxes

Judge: Amazon properly valued amount that one corporate entity charged another.<p>Amazon has successfully emerged from a lawsuit brought by the Internal …

Amazon to start collecting state sales taxes everywhere

<b>New York (CNN) —</b> The days shopping tax-free with Amazon are coming to an end.<p>On Saturday Amazon will start collecting sales taxes on purchases in the last four states where it wasn't doing so: Hawaii, Idaho, Maine and New Mexico. Four other states -- Delaware, Montana, New Hampshire and Oregon -- …

Fortune 500

The Roth Mistake You Need to Undo before April 18

If you’re a savvy and planning-oriented individual and you make a Roth IRA contribution for your retirement every year, congratulations. However, …

Retirement

How Republicans’ obsession with tax cuts for the rich drove their health care plan over a cliff

A century ago, the Austrian sociologist Rudolf Goldscheid described the government’s budget as “the skeleton of the state stripped of all misleading ideologies.” His point was that we distinguish reality from spin by looking at what leaders do — by the policies they create and how they pay for …

Health Care

House Republicans Vote To Keep Trump's Tax Returns Secret For The Third Time

They defeated Rep. Bill Pascrell's proposed measure in a testy committee hearing.<p>WASHINGTON ― Republicans on the House Ways and Means Committee voted down a measure offered by Rep. Bill Pascrell (D-N.J.) to force President Donald Trump to release his tax returns to the committee.<p>In a party-line …

Government

Trump Wants a Win, But This Tax Plan Is a Loser

Now that President Donald Trump has failed to repeal and replace the Affordable Care Act, he’s turning to tax cuts to get a much-needed political win. There’s just one problem: What the Republicans want violates international law. If the reform bears any resemblance to the leading proposal, …

This Undocumented Student Posted a Selfie of her Tax Form and Asked Trump to Do the Same

An Arizona-based Latina is challenging President <b>Donald Trump</b> in a major way.<p>On Sunday, <b>Belén Sisa</b>, a 23-year-old DREAMer who is protected from deportation through the Obama administration's Deferred Action for Childhood Arrivals program, posted a selfie of her with a tax form.<p>Sisa, who came to the …

Donald Trump

Owe taxes this year? The surprising reason owing money to the IRS is better than getting a refund.

Tax season is an exciting time for anyone expecting a fat refund check from Uncle Sam. Whether you're paying down credit card debt or saving up for a …

Tax Preparation

After Obamacare defeat, Trump advisers want the White House to delay child-care plan

One of President Trump’s economic advisers, a co-author of his tax plan, is urging the administration to delay efforts to make child care more affordable. The advice comes days after Trump failed to persuade the Republican-dominated Congress to repeal and replace Obamacare, a core campaign …

Tax Reform

Working in the UAE? Here’s how you can continue not paying tax in South Africa

<b>*This content is brought to you by</b> <b>Sable International</b><b>, specialists in financial and immigration solutions for South Africans. Sable International can</b> …

South Africa

What's Your Safe Money Plan for Retirement?

Don't overlook these five facets of true financial security.<p>Paper wealth is meaningless when it comes to true financial security.<p>Or, more accurately, there's an enormous difference between paper wealth and real wealth. With investments, until you sell an asset and lock in any gains you have …

Retirement

Filing tax returns to be less painful from April 1

NEW DELHI: A crisp income tax form for salaried individuals will be introduced from April 1, doing away with some columns to simplify the filing of …

Lok Sabha

Texas lawmakers need to rethink the program that gives property tax breaks to corporations | Commentary

This waste of taxpayer dollars resulted in part from the structure of the program.<p>In most cases, companies that used this program were planning to …

University of Texas at Austin

India Moves Closer to Launch Landmark Tax Reforms From July - Bloomberg

India moved another step closer to the launch of a nation-wide sales tax regime when the lower house of parliament approved supporting legislation on …

Tax Reform

Filing Corporate Taxes? Here's How to Use Form 1120

<b>How Does a Corporation Pay Income Taxes?</b><p>A corporation is a separate entity from its owners (shareholders). As a separate entity, the corporation's …

3 Charitable Giving Strategies Anyone Can Use

All too often I come across articles on giving that feature complex strategies like charitable remainder trusts, conservation easements, and starting …

Retirement

A Tax Penalty for I.R.A. Withdrawals Can Sneak Up on You

Time is running out for retirement savers who are required to take initial withdrawals from their Individual Retirement Accounts for 2016.<p>Savers who turned 70½ last year must take their first “required minimum distribution” — R.M.D., for short — by April 1, if they have not already done so. This …

Retirement

Republicans take new steps to keep Trump's tax returns secret

At a White House press briefing last week, Press Secretary Sean Spicer briefly flubbed a line before correcting himself. “I think there’s a huge …

Government