federal taxes Archive

Mississippi Confirms Forgiven Student Loan Debt Will Be Taxed

TweetShareSharePin0 Shares In a departure from most states, the State of Mississippi has confirmed that forgiven student loan debt will be taxed. Per the official White House fact sheet for President Biden’s plan explains that the proposal will eradicate $10,000 in student loan debt for those who do not have Pell Grants and make under $250,000 per

Missouri Income Tax Reform: Details & Analysis

TweetShareSharePin0 Shares Gov. Mike Parson (R) has called the Missouri legislature into a special session beginning September 6th, with the goal of reducing the individual income tax from 5.4 percent to 4.8 percent and raising the standard deduction. An income tax reduction is a competitive move, especially in a rapidly changing tax landscape, but the

Divisive DeSantis Promises Largest Tax Cuts In Florida History

TweetShareSharePin0 Shares Divisive Florida Governor Ron DeSantis has promised residents of the Sunshine State the largest tax cuts in state history if he is re-elected in November. DeSantis — who has close ties to Donald Trump’s newly-hired attorney Chris Kimes — faces opponent Charlie Crist, a former Republic now running on the Democratic ticket, in

The Weekly (Tax)Buzz – August 31st, 2022

TweetShareSharePin0 Shares The Weekly (Tax)Buzz – August 31st, 2022 If you feel like the news is tough to keep up with these days, you aren’t alone. Every week, we publish a curated list of some of the top articles in tax and finance. Tune in every Wednesday to read the latest thought leadership pieces from

The Impact of the Inflation Reduction Act on U.S. Doctors

TweetShareSharePin0 Shares The recent passage of the Inflation Reduction Act in the United States Congress is a huge win for the President Biden administration, who pushed for the Democrat-backed bill to be pushed through, even making special provisions to get Senator Kyrsten Sinema (D-AZ) and Senator Joe Manchin (D-WV) onboard.  The sweeping bill, that specifically

Justice Department Confirms Trump “Likely Obstructed” Gov. Investigation

TweetShareSharePin0 Shares In a new 36-page report relating to the Federal Bureau of Investigation (FBI) raid at Donald Trump’s Mar-a-Lago residence, the U.S. Department of Justice acknowledged that the former President “likely obstructed” a government investigation with intent. Politico reported on some of the details within the report: “The government also developed evidence that government

JP Morgan Office Raided as Part of Tax Fraud Probe

TweetShareSharePin0 Shares Finance giant JP Morgan Chase has confirmed the company’s Frankfurt office was raided as part of a tax fraud probe.  Financial Times reported that company spokespeople for the U.S.-based bank stated the office was “visited” by Cologne prosecutors, and that they are continuing to co-operate with the investigation. The outlet also shared that

How High Are Beer Taxes in Your State?

TweetShareSharePin0 Shares As cookout attendees around the country crack open a cold one on Labor Day weekend, take a minute to discover how much of your cash is actually going toward the cost of a brew. The United States collects an excise tax on beer at the federal level (ranging from $0.11 to $0.58 per gallon based

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