Federal Tax Updates Archive

Will A Refinance Mortgage Loan Make Sense For You

TweetShareSharePin0 SharesWill A Refinance Mortgage Loan Make Sense For You Have you been looking for a way to finance college education for your kids? Does the vacation of a life time seem like only a dream? Or maybe you want to buy a new car and deduct the interest on your federal taxes? How about

Complaining About A Global Minimum Tax And All Hands On Deck For Tax Season

TweetShareSharePin0 Shares The global minimum corporate tax could minimize other benefits, say businesses. The Wall Street Journal reports (paywall) that businesses are complaining a global minimum corporate tax could discourage research and development and low-income housing investments by limiting the benefits of tax breaks for those activities. Under the agreement reached last year by the

The Nature of a Freight Shipping Company

TweetShareSharePin0 SharesThe Nature of a Freight Shipping Company A freight shipping company is in the business of transporting goods from one place to another through the plane, truck, ship, or train. Reasons for freight shipping may be either for personal or business purposes. Whatever one’s specific needs may be, a freight shipping company can accommodate

No Impact on New England Sales

TweetShareSharePin0 Shares Earlier this month, JAMA Internal Medicine published a study about the impact of banning flavored tobacco products in Massachusetts. The study found, not surprisingly, that the sale of flavored tobacco decreased following the ban. By comparing sales in Massachusetts with sales across 27 other states, the authors observed that sales had decreased more

National Debt Hits A High, States Advance More Tax Cuts

TweetShareSharePin0 Shares The national debt surpasses $30 trillion. Treasury reports the public debt  now exceeds a record $30 trillion. The Peter G. Peterson Foundation notes that under current law, interest costs will top $5 trillion over the next 10 years and consume nearly half of all federal revenue by 2051.  Some optimism on a spending deal.

2022 Sales Taxes: State and Local Sales Tax Rates

TweetShareSharePin0 Shares Key Findings Forty-five states and the District of Columbia collect statewide sales taxes. Local sales taxes are collected in 38 states. In some cases, they can rival or even exceed state rates. The five states with the highest average combined state and local sales tax rates are Louisiana (9.55 percent), Tennessee (9.547 percent),

The Tax Justice Network’s French podcast: Mali – l’exigence de la justice sociale au-delà des sanctions et de la junte #36

TweetShareSharePin0 Shares Welcome to our monthly podcast in French, Impôts et Justice Sociale with Idriss Linge of the Tax Justice Network. All our podcasts are unique productions in five different languages every month in English, Spanish, Arabic, French, Portuguese. They’re all available here and on most podcast apps. Here’s our latest episode: Pour cette 36ème édition de votre podcast impôts et justice sociale proposé par le

Indonesia Cigarette Tax Reform Simplifies Taxes, But More Work Remains

TweetShareSharePin0 Shares More than 300 billion cigarettes are sold each year in Indonesia—making it the world’s second-largest cigarette market to China. As such, it is important how Indonesia taxes tobacco products. Last year, I wrote about the counterproductive complexity of the country’s tobacco tax system, but in December, Indonesia announced some positive changes to the

Does the World Need Tax-Advantaged Art Freeports?

TweetShareSharePin0 Shares A friend opened her solo art exhibition at a Detroit gallery last month. When my spouse and I bought one of the six pieces she sold that night, we paid Michigan’s 6 percent sales tax on the purchase.  Turns out not all art buyers are like us. High-end collectors can delay taxes indefinitely

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