federal taxes Archive

Biden Minimum Tax on Billionaires Unrealized Capital Gains
March 30, 2022
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TweetShareSharePin0 Shares This week, President Biden introduced a new tax proposal as part of the White House fiscal year 2023 budget to raise taxes on households with net wealth over $100 million. The proposal would require wealthy households to remit taxes on unrealized capital gains from assets such as stocks, bonds, or privately held companies.

Colorado Flavored Tobacco Ban Tax Analysis
March 30, 2022
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TweetShareSharePin0 Shares A bill that would prohibit the sale of flavored tobacco and nicotine products, HB22-1064, is moving through the Colorado legislature, which undoubtedly would have a significant impact on the revenue from taxes levied on those products. Flavored tobacco and nicotine products make up a significant portion of the market: over 20 percent of
Tips For Setting Up And Running A Home Business (3)
March 30, 2022
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TweetShareSharePin0 SharesTips For Setting Up And Running A Home Business If you have always wanted to work in your pajamas, then you should look into owning and operating a home based business. While it’s not a get rich quick scheme, (you will have to do lots of hard work) it can be a way to

Biden Tariffs & Trade Agenda Should End Trade War, Promote Free Trade
March 30, 2022
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TweetShareSharePin0 Shares After the failed approach of the Trump administration’s tariffs and trade war along with the current need to reduce inflation and increase productive capacity, we hoped the administration would reevaluate the tariffs. But under the Biden administration’s new trade policy agenda, most U.S. businesses will continue facing tariffs on billions of dollars’ worth

How the TCJA Affected the Housing Market
March 30, 2022
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TweetShareSharePin0 Shares When the Tax Cuts and Jobs Act (TCJA) was enacted, critics claimed that reducing the tax subsidy for mortgage interest would hurt home values. But new TPC research shows that the reduced deduction had very little effect on the size of new mortgages, suggesting that the changes in the TCJA have not substantively

Taxing What You “Have” Versus What You “Earn”
March 30, 2022
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TweetShareSharePin0 Shares Sen. Manchin opposes President Biden’s minimum tax on very wealthy households. Source link TweetShareSharePin0 Shares
Automobile Tax Expenses
March 30, 2022
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TweetShareSharePin0 SharesAutomobile Tax Expenses If you use a vehicle for conducting business, you can deduct certain automobile tax expenses from your tax bill. This is true even if you use the vehicle for personal and business needs. Automobile Tax Expenses The powers that be have historically written sections into the tax code promoting business activities.
Improve Your Financial Outlook With These Valuable Tips
March 29, 2022
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TweetShareSharePin0 SharesImprove Your Financial Outlook With These Valuable Tips Planning for retirement can seem a bit complicated with 401Ks, allocations, investments, taxes and other confusing terms and concepts. Saving money, though, is a concept that anyone can understand, and that is the bedrock for retirement planning. The good news is that it is never to

Are Tax Rebates a Good Way to Provide Tax Relief from Rising Prices?
March 29, 2022
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TweetShareSharePin0 Shares States are flush with cash, but taxpayers’ purchasing power is being eroded by high inflation. It’s unsurprising that many policymakers have jumped at the chance to apply surpluses to meet the genuine needs of many residents—but good intentions do not always make for good policy. Tax rebates, gas tax holidays, and other temporary

State Debt, State Revenue, and State Tax Collections
March 29, 2022
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TweetShareSharePin0 Shares How do taxes in your state compare regionally and nationally? Facts and Figures, a resource we’ve provided to U.S. taxpayers and legislators since 1941, serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more. For visualizations and further analysis of 2022 state tax