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federal taxes Archive

Ballot Proposals Advance, Or Don’t, While Inflation Boosts Some Tax Revenues

TweetShareSharePin0 Shares Business groups want the Massachusetts high court to revise a millionaires’ tax referendum. The November ballot will include a constitutional amendment to create a 4 percent surtax on individual income exceeding $1 million. The revenue is supposed to support transportation and education. But business groups want the state Supreme Court to revise the

Ballot Proposals Advance, Or Don’t, While Inflation Boosts Some Tax Revenues

TweetShareSharePin0 Shares Business groups want the Massachusetts high court to revise a millionaires’ tax referendum. The November ballot will include a constitutional amendment to create a 4 percent surtax on individual income exceeding $1 million. The revenue is supposed to support transportation and education. But business groups want the state Supreme Court to revise the

Tax Justice Network Arabic podcast #53: الإعلان عن إفلاس لبنان: أين الحقيقة؟

TweetShareSharePin0 Shares Welcome to the 53rd edition of our Arabic podcast/radio show Taxes Simply الجباية ببساطة contributing to tax justice public debate around the world. It’s produced and presented by Walid Ben Rhouma and is available on most podcast apps. Any radio station is welcome to broadcast it for free and websites are also welcome to share it. You can follow

USICA, Competes Act, Corporate Tax Comparison

TweetShareSharePin0 Shares Key Findings Federal policymakers are debating a legislative package focused on boosting U.S. competitiveness vis-a-vis China; however, it currently contains little to no improvements to the U.S. tax code. The existing U.S. tax code is biased against capital investment and it is scheduled to worsen over the next decade. The tax bias against

Business Tax Reform Critical to Economic Recovery Set to Expire Soon

TweetShareSharePin0 Shares At a moment when we are seeing clear weaknesses in supply chains and needs for gearing production toward more environmentally friendly approaches, capital investment is critical. Policymakers have an opportunity to change a coming decline in investment incentives by adopting permanent policies to support growth. Expiring tax policies in major economies could create

Improving the Charitable Deduction and Free File, Trashing EV Tax Credits

TweetShareSharePin0 Shares Reforming the charitable deduction. TPC’s Gene Steuerle recommends ways to reform  the charitable deduction. His primary suggestion:  Congress should take into account cost-effectiveness. “That means putting gains for charitable beneficiaries—not taxpayers or even the charities themselves—as the major objective.  Manchin: EV tax credit is “ludicrous.” Sen. Joe Manchin, who in the past has

Should I Hire an Employee or a Contractor?

TweetShareSharePin0 SharesShould I Hire an Employee or a Contractor? Are you confused about whether you should hire a contractor vs employee? If so, you’re not alone. Knowing when it’s time to hire a contractor instead of an employee is one of the most confusing aspects of employment for many businesses. Below we have provided some

IRA Distribution Mistakes–How to Blow your Retirement Money

TweetShareSharePin0 SharesIRA Distribution Mistakes–How to Blow your Retirement Money With the population aging and over 4000 people a day being forced to take IRA distributions (such distributions are mandatory by April 1 after reaching age 70 1/2), mistakes in taking IRA distributions can total in the billions. Yet, because people have had no prior experience,
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