Tuesday, November 21, 2017

Google Alert - tax

Google
tax
Daily update November 21, 2017
NEWS
The international features of the Republican tax bills make an odd pairing with the nationalist rhetoric of President Trump. Trump has long made it clear to the American public that, for better or worse, he wants to put "America first." Like most economists, I view such nationalism as simplistic and ...
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When the tax reform talks started a few weeks back, there were murmurs that Congress and the Trump administration would sharply reduce how much employees could save for retirement through 401(k) plans. That trial balloon popped, and here's a surprise: Congress may now actually improve things ...
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Today, investors who want to sell a certain stock can pick from any of the tax lots they own. A proposal in the Senate tax bill would require investors to sell the shares they have owned for the longest amount of time first. If approved, the change would mean investors would pay an estimated $2.7 billion ...
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Mr. Walther is not sure the tax plan before the Senate is going to pass, much less be signed — in its current state. However, the bill's critics, he argues, are overstating their case. "Trickle-down economics doesn't create the broad base of wealth its bow-tied architects imagine," he writes, "but it's not clear ...
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If a provision in the House-passed tax bill makes it into the final legislation, owners of boats and recreational vehicles who write off the interest on their loans would lose that deduction. The Tax Cuts and Jobs Act approved by the House last week eliminates the deductibility of mortgage interest on second ...
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One thing you can count on in 21st-century U.S. politics is that Republicans will lie about taxes. They did it under George W. Bush, they did it under ...
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"The inability to face our fiscal reality is a concern," he wrote in his annual letter to investors that year, lamenting the failure to adopt the Simpson-Bowles plan to reduce the debt by $4 trillion, in part by increasing taxes, closing loopholes and reducing entitlements. "I believe that if we had adopted some ...
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If you're an entrepreneur, you're running out of time to reduce your 2017 tax bill. That means it's time to whip out your receipts, review any upcoming payments and fund your retirement plans. "For small business owners, accelerating deductions and deferring income is almost always part of year-end tax ...
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One of the biggest questions surrounding the Republican tax overhaul is who benefits from the changes. Democrats have decried it as a giveaway to ...
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Because this provision is not literally a tax cut or deduction explicitly given to private-jet owners, but because it has the effect of reducing the tax ...
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To be fair, Conway was only listing the tax plan as the first among other considerations, and didn't even include the more ethically salient question of ...
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With the U.S. Congress determined to get tax reform done before the end of the year, one of the taxes on the chopping block is the estate tax. Up till now, if you had a lot of money — more than $5.5 million for an individual or $11 million for a couple — and you wanted to leave it to your kids when you died ...
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One of biggest questions hanging over investors throughout the year is the fate of tax reform. With the clock ticking on 2017 and the outcome still uncertain, investors are nonetheless sharpening their pencils to determine the prospective winners and losers across equities and bonds. Uncertainty remains ...
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The end of the year will be here before you know it - and that means year-end tax forms will soon be on their way. That's right - many year-end tax ...
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The Senate tax bill would provide more tax benefits to higher-income Americans than the middle-class or lower-income people. But in another odd quirk of the plan, which now also repeals Obamacare's individual mandate, federal spending on lower-income Americans is also projected to significantly ...
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This telecommunication tax – sometimes called a franchise fee – is controversial among bill payers but has served as a steady funding stream.
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Yesterday the Tax Policy Center released its macroeconomic analysis of the House tax cut bill. TPC is not impressed: their model says that GDP would be only 0.3 percent higher than baseline in 2027, and that revenue effects of this growth would make only a tiny dent in the deficit. But Brad DeLong ...
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Kellyanne Conway suggested Monday that Alabama Senate candidate Roy Moore's potential to help pass the GOP's tax bill outweighs the mounting ...
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As an American subsidiary, the company stands to benefit from a corporate tax cut. Iyer promised the company would invest any money saved back ...
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The Republican tax reform must still pass the Senate, but already it's having a political impact in at least one high-tax, ill-governed state. Democrat Steve Sweeney, president of the New Jersey Senate, said last week that the GOP decision to eliminate the state and local tax deduction could throw a new ...
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Individual investors are livid that the Senate Finance Committee has exempted large mutual funds from a provision in the tax bill aimed at preventing shareholders from minimizing taxes on stock sales. The exemption was reported by The Wall Street Journal. But the provision will still hit individuals with ...
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As he raised estate tax rates to fund work programs during the Great Depression, Franklin Delano Roosevelt said, "The transmission from generation ...
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Under the current tax law, Cindy does not pay much in federal income taxes. After taking a standard deduction of $9,550 and two personal or dependent exemptions worth $4,150 each, her taxable income is $12,150, which means she is in the 10 percent tax rate. So before credits, her tax bill is $1,215.
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Democrats believe the massive tax cuts for the wealthy and corporations that Trump and Republicans are now pushing gives them a way of doing just ...
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U.S. stocks rose on Monday as Wall Street bet tax cuts would keep the economic expansion going. The Dow Jones industrial average rose 72.09 points to close at 23,430.33, with IBM and Verizon among the best-performing stocks in the index. The S&P 500 gained 0.1 percent to finish at 2,582.14, with ...
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It was Thursday night, not long before the Senate Finance Committee passed its version of the Republican tax cut bill, when Hatch and Ohio Democrat ...
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At the same time, Murphy told reporters he is still committed to raising taxes on wealthy residents to pay for his initiatives -- even though state Senate President Stephen Sweeney recently said the federal tax overhaul currently being considered in Congress might complicate the issue. Appearing at his ...
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(CNN) Kellyanne Conway suggested that the White House remains open to Roy Moore's embattled senate candidacy on Monday when she told Fox & friends that "we want the votes in the Senate to get this tax bill through" -- less than a week after Conway said that "no Senate seat is worth more than a ...
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Unveiled a few weeks ago, the House Republican tax plan aims to replace the standard inflationary measure, the Consumer Price Index (CPI) for all ...
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Sen. Jeff Flake, R-Ariz., and President Donald Trump traded barbs again on Sunday evening, this time over the Senate GOP tax overhaul measure.
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Regular readers won't be surprised to hear that the thing I would like to see most in Wednesday's Budget is simplification of the tax system. I have no ...
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Italy is putting forward plans for a digital sales levy as a European crackdown on how large US internet groups pay tax gathers momentum. The upper ...
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The president thinks we should get rid of it, I think we should get rid of it—it's an unfair tax on poor people," Mnuchin told Chris Wallace in an exclusive ...
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WEB
2018 Tax Brackets
Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called "bracket creep." This is the phenomenon by ...
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Tax Certification and Other Sworn Financial Advisory Services
Tax certification simply means that a sworn financial advisor (SFA) carries out a tax audit of the company and certifies the tax returns. The tax ...
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Macroeconomic Analysis of the Tax Cuts and Jobs Act as Passed by the House of Representatives
Macroeconomic Analysis of the Tax Cuts and Jobs Act as Passed by the House of Representatives · Benjamin R. Page, Joseph Rosenberg, James R. Nunns, Jeffrey Rohaly, Daniel Berger. November 20, 2017. Download PDFPrint. Share ...
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Kellyanne Conway on Roy Moore: 'We want the votes' for tax bill
Kellyanne Conway suggested that the White House remains open to Roy Moore's embattled senate candidacy on Monday when she told Fox & friends that "we want the votes in the Senate to get this tax bill through" -- less than a week after Conway said that "no Senate seat is worth more than a child" in ...
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Who Really Pays Under the Senate Tax Bill?
The enormous tax legislation currently moving through the Senate at breakneck speed has already been analyzed by several official and nonpartisan ...
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Saez and Zucman on the Republican Tax Plan
Emmanuel Saez & Gabriel Zucman: Republican tax plan slams workers and job creators in favor of the rich and inherited wealth, by Emmanuel Saez ...
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Trump SLAMS Senator Jeff 'Flake(y)' During Final Tax Cut Push
On Sunday, in the midst of the final push for votes on President Trump's tax reform bill – a bill that is vital to both Republican House chances in 2018 and Trump's re-election effort in 2020 – Trump decided it was vital to lash out at Senator Jeff Flake (R-AZ).
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The Grad Student Tax
By now as you've read from Luca or Scott or PhD Comics or a variety of other sources on the dangerous changes to the tax code that passed the US ...
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Council Tax (Administration and Enforcement) Regulations 1992
The Council Tax (Administration and Enforcement) Regulations 1992, Statutory Instrument 1992 No. 613, as originally made.
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Christian Aid – Tax Avoidance November 2017
Almost 9 in 10 (89%) of people believe that tax avoidance is morally wrong, even if it is legal; 85% think it is too easy for large companies in the UK to avoid paying tax; One in four people (25%) are currently boycotting the products or services of a company because it does not pay its fair share of tax.
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Danger Lurks in Tax Bill
The 1954 Johnson Amendment, named for LBJ, prohibits tax-exempt churches, charities and foundations under Section 501(c)3 of the tax code from endorsing candidates. The amendment has long been a target of evangelical Christian groups who yearn to amplify their conservative voice in campaigns ...
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Tax Reform Without the Reform
Jonathan Chait: "The tax break for private planes is the sort of provision that is usually held up as a case for what tax reform is needed to eliminate.
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Forbes Bottom Lines Insanity of GOP Tax Bill
Today's article in Forbes describes how the current GOP tax bills are "the end of GOP economic sanity" and goes through a long list of problems that would never have been inflicted on the US populace before: "If it's enacted, the GOP tax cut now working its way through Congress will be the start of a ...
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Tax Reform: What Does It Mean for Health Care?
Now that the House has passed its version of tax reform, the Senate is eyeing a vote on its own tax bill the week after Thanksgiving. It's about time for health-care stakeholders to take the...
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Republicans Are Blowing Their Chance at Tax Reform
David Frum: "As I write on November 19, it may see like the GOP tax plans are carrying all before them. A big tax cut has passed the House. A somewhat different plan passed late Thursday night through the Senate Finance Committee. The president is bellowing on Twitter his readiness to sign almost ...
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Under Senate Tax Plan, Average Folks Lose Even If They Win at the Track
Well, under the GOP tax plan now speeding through the Senate, that guy would lose ten times in income tax what he did at the track. That's because ...
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Koskinen Remarks in Politico May Constitute a Crime, Tax Lawyers Say
Former IRS Commissioner John Koskinen may have violated tax information privacy law when he revealed during an interview published November 15 by Politico that President Trump had filed his tax returns and that they are secured at agency headquarters, tax lawyers told Tax Analysts.
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With MoDOT's Tank Nearly Empty, a Fuel-Tax Increase Might Be the Answer
If you are younger than 36 years old, then Missouri hasn't raised its gas tax since you started driving. But that might need to change. The Missouri Department of Transportation (MODOT) is arguably underfunded for the job it is being asked to perform. Enter the legislature, where gas tax increases may be ...
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Whiny Ivies apoplectic over tax
Harvard has an endowment of more than $36 billion. They actually lost money last year, pre-Trump, but let's say that in a more typical (non-Obama) year, their endowment makes at least a billion, which is probably low. Under the new tax, on that theoretical billion-dollar profit, Harvard would owe Uncle ...
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Flanagan Touts Tax Cuts Taking Effect In 2018
Senate Majority Leader John Flanagan on Monday touted a tax cut that's due to take effect at the start of the new year. In a statement, Flanagan says the Senate Republican conference deserves credit for the cut, worth $4.2 billion annually once fully phased in, and will reduce rates by 20 percent for ...
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Junior Tax Accountant
Company: Volt Information Sciences, Inc. Position: Jr. Tax Accountant Location: Orange, CA Volt Information Sciences, Inc. Volt Information Sciences ...
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A Working Tax System
When President Ronald Reagan implemented a sweeping reform of our nation's tax system in 1986, it helped millions of Americans from different walks of life save money and kicked off an era of strong economic growth. A little more than three decades later, our tax code has become severely outdated.
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Tax Accountant
description. Tax Accountant. In anticipation of the 2018 tax season, we need to bring in two seasoned individual tax preparers for the St Louis office. Applicants should be very seasoned accountants that are experienced in tax preparation for high net worth individuals. Responsibilities: Duties include ...
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The $2.4 Trillion Hidden "Fed Tax"
The $2.4 Trillion Hidden "Fed Tax" - Peter Diekmeyer. Jerome Powell's support for the Federal Reserve's low interest rate regime has long benefited ...
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We All Know the Rich Don't Need Tax Cuts
The Republican tax plan has plenty of critics, but not enough it seems. And the plan's critics in Congress, where the battle is being waged, seem ...
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Trump promises Americans 'huge tax cut' for Christmas
WASHINGTON (AP) - President Donald Trump on Monday promised a tax overhaul by Christmas, a day after the White House signaled its willingness ...
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State Tax Agencies and Tax Industry Announce National Tax Security Awareness Week
For the second year, the Internal Revenue Service, state tax agencies and the tax industry will host National Tax Security Awareness Week to encourage both individual and business taxpayers to take additional steps to protect their tax data and identities in advance of the 2018 filing season. Starting ...
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Tax Cut Numbers Don't Add Up
This op-ed by Concord Coalition Executive Director Robert L. Bixby discusses some of the problems with the House and Senate tax bills. The article was originally published this week in Seacoast Sunday. Republicans in the House and Senate are now debating their respective $1.5 trillion tax cut plans, ...
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