federal taxes Archive

TweetShareSharePin0 Shares CBO: Federal deficit will reach $3 trillion in 2021. Largely because of its response to the coronavirus pandemic, the federal government will spend $6.8 trillion in 2021 and collect $3.8 trillion in revenue. The $3 trillion deficit will be slightly less than last year since US is likely to collect more revenue as

TweetShareSharePin0 SharesInvesting In Oil And Gas Opportunities Investing in direct participation, or working interest ownership in new oil & gas prospects being offered by only the very best oil & gas independents, and broker/dealers is now a pretty common way to beat the stock market, and just about any other passive investment being offered to

TweetShareSharePin0 Shares In recent years, countries have been debating significant changes to international tax rules that apply to multinational companies. This week there was a breakthrough in discussions, and an outline for the new rules was released by the Organisation for Economic Co-operation and Development (OECD). If today’s global tax agreement is fully implemented, large

TweetShareSharePin0 SharesInvesting – Tax Shelters Equals Big Fine For Kpmg What happens when a world renowned accounting firm decides to market tax shelters to its elite clientele? The first thing that happens is that the client buys them because of the source. In this case the source is utterly reliable; KPMG is one of the

TweetShareSharePin0 Shares Michigan lawmakers are considering lowering the corporate income tax rate to alleviate the tax burden on businesses still emerging from the pandemic and to make the state more competitive. Senate Bill 392 would retroactively reduce the state’s corporate income tax rate from 6 percent to 5.5 in tax year 2021, and then lower

TweetShareSharePin0 Shares While high top tax rates may provide “sticker shock” for corporations looking for a state to call home, they are just one of several important drivers of businesses’ tax burdens and tax compliance costs. The tax base, and more broadly, the structure of the tax code, play a large role in business taxes

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