Federal Tax Updates Archive

Senate and House Continue Cutting Budget Bill

TweetShareSharePin0 Shares The tax provisions contained in President Joe Biden’s Build Back Better bill have seen significant changes from where it started over 200 days ago, and as Democrats work to accommodate each other’s priorities, many programs have been cut. Some of the most notable shifts are to provide more benefits for dependent care and

Plan Your Retirement Income Carefully and Accurately

TweetShareSharePin0 SharesPlan Your Retirement Income Carefully and Accurately When you are asked to look into your future, how far can you see? Can you see yourself being retired? And, how do you feel about that? If you have saved enough or maybe started saving for your retirement, you only have a few reasons to worry.

Cigarette Tax Scorecard shows modest progress globally

TweetShareSharePin0 Shares The second edition of the Tobacconomics Cigarette Tax Scorecard is out today and shows that governments have made insufficient progress in addressing the world’s leading cause of preventable death, despite established evidence that the most effective tool—tobacco taxation—would reduce smoking and increase tax revenues. By using new data from the WHO Report on

One More Week to Get BBB Done?

TweetShareSharePin0 Shares Infrastructure Bill passes with bipartisan support. Late Friday night, the House passed the $550 billion bipartisan infrastructure bill with 13 Republican yes votes and 6 Democratic no’s. The Congressional Budget Office estimates the bill will add $256 billion to the deficit. The bill includes few increases or spending reductions, though it does end the

Oklahoma Tax Reform Options Guide

TweetShareSharePin0 Shares Executive Summary Overview Oklahoma policymakers have been focused on tax reform for many years, always keeping an eye on the state’s neighbor to the south. Legislators succeeded in reducing rates for both individual and corporate income taxes, but Oklahoma is far from alone in this pursuit. In an increasingly mobile economy, states are

Getting the Government out of Community Service

TweetShareSharePin0 SharesGetting the Government out of Community Service We live in a time when we tend to look to the government to do a lot of things. For some reason, we tend to think that just because we have to pay taxes, it is our government’s job to fix everything that is broke and arrest

Three Dumbest LLC Formation Mistakes

TweetShareSharePin0 SharesThree Dumbest LLC Formation Mistakes I see a lot of dumb llc formation mistakes. Maybe more than most people because I occasionally teach a graduate tax class on LLC formation. Some of the mistakes are made by entrepreneurs and investors trying to save money on accountants and attorney fees. And I guess that’s okay–albeit

Tax Deferral Methods You Should Be Using

TweetShareSharePin0 SharesTax Deferral Methods You Should Be Using Tax Deferral Tax deferral is the method whereby most Americans plan their savings and retirement funds. It is the ingenious method whereby IRAs (initial retirement accounts) are created. An incentive if you would for the employee to create retirement savings account by having his employer deduct pre-tax

A Quick Guide To Local, State, And Federal Government Auctions

TweetShareSharePin0 SharesA Quick Guide To Local, State, And Federal Government Auctions There are million of dollars of seized and unclaimed property auctioned by the government on an everyday basis. These potential hidden treasures include cars, houses, boats, jewelry, antiques, and more. Since the government has nothing invested and often lacks potential buyers, the amount required

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