Taxes

AP FACT CHECK: Claims about Trump's tax plan don't hold up

WASHINGTON (AP) — Getting to the bottom of President Donald Trump's tax plan is difficult because it exists so far as bullet points on a single page, with no detail. Still, there are reasons to be wary about some of the claims coming out of the White House about it.<p>CLAIM: TAX CUT IS BIGGEST …

Donald Trump

Robert Reich: 5 reasons why Trump’s corporate tax cut is appallingly dumb

Don’t fall for Trump’s corporate tax giveaway scam<p>Trump wants to cut the corporate tax rate from 35 percent to 15 percent, in order to “make the United States more competitive.”<p>This is truly dumb, for 5 reasons:<p>1. The White House says the United States has one of the highest corporate tax rates in …

Corporate Tax

Trump Plan Seen Turning ‘Everyone and Their Dog’ Into an LLC - Bloomberg

The Trump administration’s proposal to slash the tax rate on partnerships and limited liability companies could set off a stampede of individual …

U.S. Dept. of the Treasury

Let's Reconsider That Rachel Maddow Segment On Trump's Taxes That Everyone Hated

Now that we have Trump's tax plan, it's worth a second look.<p>On March 14 MSNBC’s Rachel Maddow took to the airwaves and presented an hour-long segment on two pages of President Donald Trump’s 2005 tax returns. Those documents, obtained by journalist David Cay Johnston, revealed that Trump made $150 …

Donald Trump

Sean Spicer caused a brief stir when he said the government might not help your 401k any more

<b>Washington (CNN) —</b> Let's geek out for a minute on tax deductions before people start freaking about about their retirements.<p>There was a brief moment of panic for any taxpayers who were watching the White House Press briefing Thursday when press secretary Sean Spicer said the President's tax reform …

Sean Spicer

Trump loves corporate tax cuts. Voters, not so much

President Donald Trump loves the idea of cutting the corporate tax rate, but voters?<p>The proposal, the centerpiece of the administration's new tax plan, is hardly a political winner, with recent polling showing that most Americans — including 44 percent of Republicans — believe corporations are not …

Corporate Tax

Here’s the ugly truth that critics of Trump’s tax plan need to face

Critics from both sides of the aisle say President Donald Trump's tax plan is going to blow up the deficit because there's no way to pay for the tax …

Donald Trump

Trump’s Tax Plan Hits First Land Mine: Blue State Republicans - Bloomberg

President Donald Trump’s pledge to repeal Obamacare ran into a Republican buzz saw. Now, his ambitious proposal to cut taxes is again encountering …

Tax Preparation

Congressional Republicans are unimpressed with Trump’s tax plan: “Not even close” to tax reform

One bipartisan think tank estimates a $5.5 trillion loss in revenue over the next decade under Trump's plan<p>President Donald Trump ushered in a new era of tax reform on Wednesday when the White House released a one-page memo detailing his tax plan, but not every Republican was celebrating the plan. …

Tax Reform

How Trump's tax plan could affect you

The White House unveiled a broad outline Wednesday for a dramatically simpler tax code that could lead to lower tax bills for many ordinary taxpayers …

Personal Finance

Startups are America’s job engine, so give workers tax credits, not tax cuts for big corporations

A newly elected democratic congressman from Silicon Valley has an ambitious alternative to the republican’s corporate tax cut: a giant negative income tax for the average American. Under Ro Khanna’s still-forming plan, the government would massively expand its existing annual income matching …

Corporate Tax

Meadows: Tax Reform More Important Than 'Revenue Neutral'

U.S. House Representative Mark Meadows discusses tax reform and rates President Trump’s actions thus far. He speaks with Bloomberg's Kevin Cirilli on …

Tax Reform

Trump Can Radically Reform Taxes For Small Business And Families Without Congress

This week, the Trump tax plan outline was released. I did a write up on it here.<p>Like most tax plans, the president’s has one very big drawback–it requires an act of Congress to happen. In case you haven’t noticed, Congress has a hard time agreeing on whether grape jelly is purple these days. So …

copyright

If Trump Repeals the Estate Tax, the Federal Government Will Hardly Notice

Despite the hype, the death of the so-called death tax isn't that big of a deal for the U.S. government.<p>The repeal of the estate tax, which is one of …

Estate Tax

Legislators Scale Back Sales, Income Tax Proposals With Vote Expected Thursday

On another busy budget day at the state Capitol, the finance committee is expected to vote Thursday on a package that does not include any major …

State Income Tax

Millennials must resist Trump's 'trickle-down' tax reform

The administration has decided to tout its tax reform proposal as “the biggest of all time,” but it is also irresponsible and ill-conceived. The …

Tax Reform

5 Ways To Use Your Tax Refund That Are Actually Really Sensible

As the end of April approaches, many of you have filed your taxes and experienced that moment of truth waiting for the system to calculate whether or …

Tax Preparation

Tax credits in GOP plan 'unusable' in NY

Republican Congressman Dan Donovan of New York explains that the tax credits in the GOP's current health care plan would be unusable in his state due …

Tax Preparation

30 Utterly Amazing Things To Buy With Your Tax Refund

Wondering what to spend your tax refund on? We're here to help.<p>Posted on April 27, 2017, 15:05 GMT<p>Zoë Burnett / BuzzFeed<p><b>We hope you love the products we recommend! Just so you know, BuzzFeed may collect a share of sales from the links on this page.</b><p>1. A juice extractor that'll have you yelling …

Tax Preparation

Tax tips for couples

Couples generally have more tax planning opportunities than singles.<p>To see how, let’s look at spouses named Hi and Lo. Hi’s income exceeds Lo’s.<p>To …

Retirement

Trump’s Tax Cuts Ignore History and Arithmetic to Make the Rich Richer

The Laffer Curve is back, as GOP politicians trot out the same old argument that decreasing rates will bring down deficits.

Economics

House tentatively approves bill that could wind down ‘margins tax’ — a major brace for Texas budget | Texas Legislature

AUSTIN — The House late Thursday tentatively approved a bill that would gradually eliminate the business-franchise tax.<p>Members weighed business …

Government

Trump's Tax Plan Could Add $5.5 Trillion to U.S. Debt

President Trump is on the right track by turning focus toward fixing our nation’s broken tax code. But so far, he is going about it all wrong.<p>We …

Economics

Retired Tampa police officer pleads guilty to theft of treasury check

TAMPA — A retired lawman and husband of a disgraced Tampa police detective admitted Thursday that he cashed a U.S. Treasury check his wife had stolen …

Crime

3 More Common Mistakes That May Get You Audited

Last month, we covered three of the most common miscues that may get you audited. As you will remember, we pointed out that when your tax return …

Small Business

Millennials: Here's the best way to spend your tax refund

<b>(CNN) —</b> A shiny new TV. A trip to a tropical island. Season tickets to a sports team. These are the ways some of my friends and fellow millennials have told me they plan to use their tax refunds.<p>It's the choice about 17% of millennials are making, according to a survey by GoBankingRates, a leading …

Tax Preparation

Trump tax plan's lack of details has Canada in wait-and-see mode

Proposal would reduce the top U.S. corporate tax rate from 35% to 15%<p>A large corporate tax cut proposed by U.S. President Donald Trump must still get …

Corporate Tax

Oklahoma struggles to pay for schools after slashing taxes

OKLAHOMA CITY – Four years ago, Oklahoma's oil patch was booming, unemployment was falling and state lawmakers were debating what to do with $200 million in surplus revenue.<p>Republicans who control state government successfully pushed to reduce the state's top income tax rate, slash the oil and gas …

Oil

Ten last-minute tax tips for those facing unemployment

According to Statistics Canada’s Labour Force Survey for March, unemployment in Canada sits at 6.7 per cent, the lowest rate in about two years. This is all well and good – unless you’re one of the unemployed, of course.<p>Having said this, unemployment may actually be better than certain types of …

Tax Preparation

Here are six ways the Ontario Budget will help (or hurt) your wallet

Ontario released its 2017 budget on Thursday and it included few new taxes or fees — a shift from recent years as the Liberals cobbled together …

Canada