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federal taxes Archive

The Latest SALT Cap Fix Would Mostly Benefit High Income Households, Do Little For Middle-Income People

TweetShareSharePin0 Shares The House Democrats’ latest plan to adjust the cap on the state and local tax (SALT) deduction would provide little or no benefit for low and middle-income households but generate a substantial tax windfall for those with much higher incomes, according to a new analysis by the Tax Policy Center. The latest plan

Watch Out For Bad Apples Who Offer Consumer Debt Counseling

TweetShareSharePin0 SharesWatch Out For Bad Apples Who Offer Consumer Debt Counseling Some people may wonder about the point of having a non-profit organization such as those that provide credit counsling. After all, everyone wants something, it is hard to believe that organization exist in order just to help people. If you are skeptical about the

It Would Be a Mistake to Resurrect Corporate Alternative Minimum Tax

TweetShareSharePin0 Shares The latest version of the Biden administration’s Build Back Better reconciliation package reintroduces a policy that has been tried before—and abandoned: a corporate alternative minimum tax (AMT). It would be a mistake to revive this complex and poorly designed policy. Instead, lawmakers should consider directly reducing corporate tax expenditures. The corporate alternative minimum tax was

Settling the Dust of the Coal Industry

TweetShareSharePin0 Shares Coal miners increasingly are victims of a cruel paradox. Even as production declines, more are suffering from deadly black lung disease. Yet falling production and growing efforts to combat climate change will slash the federal funds to support sick workers and their families. This problem can be resolved, but it will require policymakers

A Medicare Drug Deal But BBB Still Awaits A Score

TweetShareSharePin0 Shares Congress keeps inching towards a BBB agreement. Democrats agreed among themselves on a scaled-back plan to allow Medicare to negotiate prices on a handful of very costly drugs, along with a cap on insulin costs. That clears away one of the last outstanding issues prior to a House vote on President Biden’s latest

Will the Ohio Supreme Court Fuel the State’s NASCAR Tax?

TweetShareSharePin0 Shares “If you ain’t first, you’re last.” That all-or-nothing motto catalyzes number one NASCAR driver and titular hero in the 2006 spoof, Talladega Nights: The Ballad of Ricky Bobby.  Funny coincidence: My kids and I watched the movie on television right after I read about NASCAR’s (National Association for Stock Car Auto Racing Holdings,

Saving Money With Tax Free Medical Plans

TweetShareSharePin0 SharesSaving Money With Tax Free Medical Plans Do you have medical expenses that you incur every single year? Do you always use up your entire medical insurance deductible on co-pays? If so, there are a couple of medical saving plan available that would allow you to use tax-free money to pay for your medical
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