federal taxes Archive
The Two Biggest Thieves In Regards To Wealth Building
July 29, 2021
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TweetShareSharePin0 SharesThe Two Biggest Thieves In Regards To Wealth Building The two biggest wealth thieves a person will encounter are tax deductions and lawsuits. Taxes work against you by chipping away at your wealth. These include federal income taxes (deducting up to 39% of your income), state taxes (deducting up to 9.6%), and self employment
Infrastructure Investment Revenue Options | Tax Foundation
July 28, 2021
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TweetShareSharePin0 Shares Policymakers broadly agree that investments by the federal government in highways, mass transit, and other modes of transportation are crucial to facilitate the nation’s economic activity, but they can’t seem to agree on how to fund such investments. The current debate is over corporate income taxes, and therein lies the problem. The standard
State Gas Tax Rates | State Gas Tax Rankings, July 2021
July 28, 2021
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TweetShareSharePin11 Shares This map shows state gas tax rates as of July 2021, using recently released data from the American Petroleum Institute. States levy gas taxes in a variety of ways, including per-gallon excise taxes collected at the pump, excise taxes imposed on wholesalers (which are passed along to consumers in the form of higher prices), and sales taxes
Living on Pretax Dollars in a Post Tax World, Part Two – Maximize Legitimate Tax Deductions
July 28, 2021
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TweetShareSharePin11 SharesCould you use more tax deductions? How about a lot more tax deductions? Read on to find out what it takes to maximize your tax savings — legitimately — so you too can live on pretax dollars in a post-tax world. The first step you’ll have to take is start a business. Your business
Lobbyists Push and Pull on Proposed Tax Increases
July 28, 2021
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TweetShareSharePin0 Shares Big Pharma: Don’t raise taxes on makers of COVID-19 vaccines. Pharmaceutical companies are telling Congress that the global minimum corporate tax could raise their taxes by hundreds of millions of dollars every year. They say the financial hit is unfair, given how fast they developed and produced vaccines against COVID-19. Will the message
Reducing the Tax Gap and Simplifying the Tax Code
July 28, 2021
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TweetShareSharePin0 Shares Key Findings The tax gap is the gap between what taxpayers owe the U.S. government, and what the government actually collects from taxpayers. Tax compliance efforts ensure that tax law applies evenly to all taxpayers. At the same time, we would like to avoid placing undue compliance burdens on taxpayers. Reducing the tax
Coverdell Education Savings Account
July 28, 2021
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TweetShareSharePin0 SharesCoverdell Education Savings Account As an alternative to student loans or regular education plans, the Federal Government offers Coverdell Education Savings Account. This is actually an incentive for parents and students so that they can save a portion of their earnings or income in order to finance education expenses. Why Get a Coverdell Education
FCC’s Proposed Change Could Raise Phone Taxes
July 27, 2021
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TweetShareSharePin0 SharesFCC’s Proposed Change Could Raise Phone Taxes Americans are speaking out against a proposal by the Federal Communications Commission (FCC) that could raise millions of people’s phone bills. The proposal by FCC Chairman Kevin Martin has to do with a tax called the Universal Service Fund (USF). The USF tax was established to help
Tax revenues in Asia and the Pacific hit by pre-COVID economic slowdown
July 27, 2021
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TweetShareSharePin0 Shares The Organisation for Economic Co-operation and Development (OECD) recently published a report on tax revenue statistics in selected Asian and Pacific countries. The report, covering 24 tax jurisdictions, provides tax revenue data from 1990 to 2019 and includes a section on nontax revenue data for selected Asian and Pacific economies. Additionally, a special feature co-authored
Lawmakers Still Feuding Over… Lawmaking.
July 27, 2021
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TweetShareSharePin0 Shares Darkness before…what? Bipartisan negotiators had hoped to have an agreement by yesterday on a big infrastructure bill. Instead, public feuding continued over how to fund the measure and how to spend the money. Making matters worse, former president Trump has weighed in, urging Hill Republicans to walk away from talks until 2022. Majority
