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federal taxes Archive

NC Reinforces Its Tax Reform Legacy

TweetShareSharePin0 Shares With the adoption of its new budget in mid-November, North Carolina has reinforced its position as a leader in pro-growth tax reform, becoming the 12th state to enact income tax rate reductions in 2021 alone. (An additional four states implemented income tax cuts in 2021 that were previously adopted or were automatically triggered

Tips To Help You Buy Real Estate

TweetShareSharePin0 SharesTips To Help You Buy Real Estate Purchasing a home is the dream of practically every person out there. Settling down and starting a family has been the natural way of life for people from the very beginning of human existence. Of course, the houses of today are a lot better than caves, but

Government Shut Down Averted, For Now

TweetShareSharePin0 Shares Congress funds the federal government through mid-February. The House and Senate voted last night to temporarily fund the government through Feb. 18, averting a partial government shutdown at midnight tonight. The $1.65 trillion bill for the fiscal year that began on Oct. 1 funds most government agencies at last year’s levels. The result:

IRS Announces Tax Credits For Toyota Prius

TweetShareSharePin0 SharesIRS Announces Tax Credits For Toyota Prius The Toyota Prius is the vehicle that started the entire hybrid vehicle craze. It continues to dominate the market and the IRS has announced the tax credits for this year. IRS Announces Tax Credits For Toyota Prius In an effort to promote energy efficiency, the federal government

A Guide To Chapter 7 Bankruptcy

TweetShareSharePin0 SharesA Guide To Chapter 7 Bankruptcy Bankruptcy is a legally declared inability of individuals or businesses to discharge their debts. A declared state of bankruptcy can be requested not only by creditors in an effort to get what they are owed but also by the insolvent individual or organization. If it is difficult to

A Shut Down Over Shots?

TweetShareSharePin0 Shares A government shutdown, at least for weekend, seems increasingly likely.  Congress needs to act quickly to avoid a shutdown tomorrow night. But roadblocks keep appearing. Some Senate Republicans insist they’ll block any continuing resolution that includes funding to enforce vaccine mandates—a non-starter for Democrats. And the two parties are at odds over the

Comparing Consumption Tax Systems in Europe, 2021

TweetShareSharePin0 Shares Today we examine how European countries rank on consumption taxes, continuing our map series on our recently published 2020 International Tax Competitiveness Index (ITCI). The ITCI measures and compares the competitiveness and neutrality of all 36 OECD countries’ tax systems, looking at corporate income taxes, individual taxes, consumption taxes, property taxes, and the

Cigarette Taxes and Cigarette Smuggling

TweetShareSharePin0 Shares Key Findings: Excessive tax rates on cigarettes in some states induce substantial black and gray market movement of tobacco products into high-tax states from low-tax states or foreign sources. New York has the highest inbound smuggling activity, with an estimated 52.2 percent of cigarettes consumed in the state deriving from smuggled sources in

Advice To Follow When Building A Home Business

TweetShareSharePin0 SharesAdvice To Follow When Building A Home Business Almost everyone, at some point, has fantasized about being their own boss. Dreaming is easy, but making that dream a realty happens to be another story. If owning your own home-based business is something that appeals to you, Make sure to carefully research your plan to

Trump-Biden Tariffs Hurt Domestic Manufacturing

TweetShareSharePin0 Shares Boosting American industry is a policy objective shared by many lawmakers and is a key issue at debate in the Build Back Better Act as well as other year-end legislation. Missing from the debates is how the tariffs put in place by the Trump administration, and largely maintained by the Biden administration, are
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