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federal taxes Archive

Advance Child Tax Credit Payments

TweetShareSharePin0 Shares Later this month more than 39 million households are set to receive advance payments of the Child Tax Credit (CTC) that was expanded in the March 2021 American Rescue Plan. Many households are uncertain about how the advance payments will affect their refunds or taxes owed when they file next year, and some

Biden Tax Proposals Could Impact Small Businesses

TweetShareSharePin0 Shares In a prior post, we discussed how President Biden’s tax proposals under the American Jobs Plan could increase the tax burden on small businesses in the corporate sector. This post will examine how the tax proposals under the American Families Plan could affect businesses in the non-corporate sector. While these proposals primarily target

Tax-Exempt Hospitals and Charity Care: Should Those Hospitals Do More?

TweetShareSharePin0 Shares A recent Wall Street Journal report made me wonder about tax-exempt hospitals.  The story details how a nonprofit organization, RIP Medical Debt, collected tax-deductible donations to pay $282 million in medical debt owed by 82,000 patients of the tax-exempt hospital system Ballad Health. Ballad serves Tennessee, Virginia, North Carolina, and Kentucky. Many of

Anti-Base Erosion Provisions and Territorial Tax Systems in OECD

TweetShareSharePin0 Shares Key Findings All OECD countries with territorial tax systems have designed provisions that seek to prevent base erosion and profit shifting by multinational corporations. Designing a territorial tax system requires balancing competing goals: exempting foreign business activity from domestic taxation, protecting the domestic corporate tax base, and creating a simple system. A system

Fast Ways To Be Successful In Having A Home Based Business

TweetShareSharePin0 SharesFast Ways To Be Successful In Having A Home Based Business A lot of people today are thinking that they want to get into creating and operating a home business. With home businesses growing in popularity expanding your knowledge on the subject can help you stay ahead of the game and become successful. This

Biden Capital Gains Tax Rate Would Be Highest in OECD

TweetShareSharePin0 Shares President Biden’s proposal to tax capital gains at higher, ordinary income tax rates would lead the U.S. to have the highest top marginal tax rate on capital gains in the Organisation for Economic Co-operation and Development (OECD). The proposal would tax long-term capital gains as ordinary income for taxpayers with taxable income above
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