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Monthly Archive:: December 2021

Tax Credits for Retirement Savings

TweetShareSharePin0 SharesTax Credits for Retirement Savings It is a well-known fact that Americans are miserable failures when it comes to saving for retirement. Well, the government is offering tax credits to change this for some of us. Tax Credits for Retirement Savings Social security is going to be under siege as baby boomers hit retirements.

IRS issues accounting-method change procedures for small businesses

TweetShareSharePin0 Shares Under guidance in Rev. Proc. 2022-9 issued Thursday, taxpayers may obtain the IRS’s automatic consent to change their tax accounting methods to comply with final regulations relating to simpler tax accounting methods available to smaller businesses. Those final regulations, issued early in 2021 (T.D. 9942), implemented changes made by the law known as

“Wins Above Replacement” Econ Guide

TweetShareSharePin0 Shares Earlier today we published our annual State Business Tax Climate Index, which measures tax structure. It’s an extremely valuable diagnostic tool, enabling readers to compare states’ tax structures across more than 120 variables. Unlike most studies of state taxes, it is focused on the how more than the how much, in recognition of the

Tenancy by the Entirety and Bankruptcy Exemptions

TweetShareSharePin0 Shares In the case of In re Morgan, No. 21-50455 (M.D.N.C. 2021) the bankruptcy court sustained an objection by the trustee to the exemptions claimed by the debtor.  The basis for the objection was that even though the debtor owned certain property in the form of tenancy by the entireties he could not escape

Will There Be A Blue, Blue, BBB-less Christmas?

TweetShareSharePin0 Shares Don’t ask about Child Tax Credit? President Biden and Senate Democrats still are trying to pass Build Back Better  before Christmas. But Sen. Joe Manchin  continues to press for spending reductions and more modest tax cuts. Multiple news outlets report talks between  Biden and the senator are at an impasse. Among other concerns,

The Skinny On Siberian Ginseng

TweetShareSharePin0 SharesThe Skinny On Siberian Ginseng Ginseng is yet another addition to the category of Hot supplement topics. Of course – if there is a naturally occurring substance that helps to stimulate mental and physical energy, decrease incidence of cancer and ward off colds and flu – I certainly want answers! Although I’m still left

Comparing Property Tax Systems in Europe, 2021

TweetShareSharePin0 Shares Today’s map shows how European OECD countries rank on property taxes, continuing our series on the component rankings of our 2021 International Tax Competitiveness Index (ITCI). Although an important element when measuring the neutrality and competitiveness of a country’s tax code, property taxes account on average for less than 5 percent of total
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