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Federal Tax Updates Archive

A Climate-Only Bill, A Fed Confirmation, An Affirmed Power

TweetShareSharePin0 Shares Manchin’s latest. Sen. Joe Manchin is attempting to negotiate a broad-based bipartisan energy bill that would include incentives for short-term production of oil and gas combined with new tax subsidies for alternative energy. At the same time, Manchin is looking to separate that bill from social spending and other tax provisions that once

Should You Use An LLC For Your Small Business?

TweetShareSharePin0 SharesShould You Use An LLC For Your Small Business? Accountants and attorneys love limited liability companies. But do limited liability companies—LLCs for short—really make sense for small business owners. Probably. And for two almost unknown reasons. The Big Legal Benefit of an LLC: Limited Liability… The big legal benefit of an LLC is that

The Weekly (Tax)Buzz – April 27, 2022

TweetShareSharePin0 Shares The Weekly (Tax)Buzz – April 27th, 2022 If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from

Should the Government Compensate the Clients of TAT?

TweetShareSharePin0 SharesShould the Government Compensate the Clients of TAT? This, of course, is a political decision. There is no “right” thing to do. Even the IMF imperatives are not sacred. Sometimes, inflationary goals should be sacrifice to avoid the total collapse of the banking system and, with it, the economy as a whole. Unfortunately, a

Flat Tax Revolution: State Income Tax Reform

TweetShareSharePin0 Shares In more than a century of state income taxes, only four states have ever transitioned from a graduated-rate income tax to a flat tax. Another four may adopt legislation doing so this year. In what is already a year of significant bipartisan focus on tax relief, 2022 is also launching something of a

Ranking Unemployment Insurance Taxes by State, 2022

TweetShareSharePin0 Shares Today’s map examines another major component of our 2022 State Business Tax Climate Index: unemployment insurance (UI) taxes. Compared to individual, corporate, sales, and property taxes, UI taxes are less widely understood, but they have important implications for a state’s business climate. A state’s performance on the UI tax component accounts for 9.8 percent

Capital Allowances | Capital Cost Recovery across the OECD

TweetShareSharePin0 Shares Download Data Key Findings A capital allowance is the amount of capital investment costs a business can deduct from its revenue through the tax code via depreciation. Ideally, countries should provide higher capital allowances, as they can boost business investment which, in turn, spurs economic growth. The average of OECD countries’ capital allowances

Beneficial ownership transparency: how to fix a serious secrecy loophole in the automatic exchange system

TweetShareSharePin0 Shares Automatic exchange of bank account information is an important transparency tool to address tax evasion and other tax issues. It could also be used to tackle other types of illicit financial flows including money laundering, corruption, or the financing of terrorism, if only the OECD were to stop restricting its use for tax

Direct Deposit Brings Reliability, Safety and Convenience to Banking

TweetShareSharePin0 SharesDirect Deposit Brings Reliability, Safety and Convenience to Banking (ARA) – Have you ever rushed to the bank to deposit your paycheck before the cutoff time? Have you ever played “beat the bank” — writing checks before making a deposit? Have you ever made a trip to the bank just to deposit your paycheck?

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