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Individual Taxes Archive

Could Tax Incentives Help Recruit and Retain Teachers?

TweetShareSharePin0 Shares In November, our children’s high school principal announced he’ll retire at the end of the year, after 16 years of service. I was shocked, but shouldn’t have been. After nearly two years of chronic upheaval and conflict in public education as a result of the COVID-19 pandemic, I can only imagine how attractive

How An $80,000 SALT Cap Stacks Up Against A Full Deduction For Those Making $400,000 Or Less

TweetShareSharePin0 Shares Congress seems to be considering two ways to address the Tax Cut and Job Act’s $10,000 cap on the state and local tax (SALT) deduction. The House version of President Biden’s Build Back Better (BBB) bill would raise the cap to $80,000. An alternative plan,  first proposed by the Institute on Taxation and

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

How The Democrats’ New Millionaire Surtax Would Work

TweetShareSharePin0 Shares Democrats, scrambling to find a way to tax high-income households that Congress is willing to enact, appear to have settled on an individual income tax surtax. Their “millionaire’s surtax,” announced by President Biden this morning, would raise taxes on all forms of income, including wages, capital gains, and dividends. It would impose a

South Dakota Turned Itself Into A Tax Haven. But Why?

TweetShareSharePin0 Shares In recent decades, South Dakota has become one of the world’s great tax havens. By the end of last year, more than $367 billion in trust assets were managed in the state through at least 62 publicly-chartered trusts. The trust companies earn big fees. The trust owners hide their assets and avoid billions

Dear Senators Crapo And Grassley: Synthetic Tax Data Protect Taxpayer Privacy

TweetShareSharePin0 Shares Senators Mike Crapo (R-ID) and Chuck Grassley (R-IA) recently asked for an investigation into the Internal Revenue Service’s research activities, including its use of contractors to conduct studies and its  security protocols. The senators are right to be concerned about taxpayer privacy, especially after ProPublica’s recent articles about the tax situations of very
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