Vote Elections Pixabay Spain is about to hold its most contested general elections in history. The Spanish President Pedro Sánchez called general elections last February after the Government’s defeat to approve the General State Budgets in the Congress. This Sunday 28, Spanish citizens will vote in a political scenario more fragmented than ever, although in
Barrel of oil with words sanctions. Getty America’s determination to enforce sanctions and drive Iran’s oil exports to zero have put China in a box. When it comes to the policy options to deal with the situation that is. This is evidenced by the way Beijing responded following Washington’s announcement that it won’t extend the
The first full filing season of the TCJA is done. What do we need to know? TPC’s Howard Gleckman digs out the top three numbers worth remembering. “About 65 percent of households paid less in individual income taxes in 2018 as a result of the TCJA. About 6 percent paid more. The rest paid about the same.
The research and development (R&D) tax credit is finally in a good place – with Congress making the federal credit permanent, and ultimately expanding it so that small and medium businesses can now easily reduce their tax bill. Over time, Congress began to realize an imbalance of companies who were taking advantage of the credit.
President Trump’s tax and regulation cutting spurred economic growth with quarterly GDP running at 2.8% over the past 9 quarters compared to 1.9% in Obama’s last 9. Data from the U.S. Bureau of Economic Analysis, chart by the Texas Public Policy Foundation The U.S. economy grew at a 3.2% annual rate in the first quarter,
You’ve printed out your returns. You are awaiting your refund…or the IRS cashed your balance due check. Now you finally can put that shoebox full of W2s, 1099s, and receipts in storage. Unless you filed for an extension (sorry) the 2019 tax season finally is over. And it was eventful. It was the first under
I can’t tell you how many conversations I’ve had about property taxes. Other than discussing the turmoil, in Washington, real estate taxes are a perennial pain point. If you live in a low-tax state, of course, property taxes are not an issue and you probably shouldn’t read any further. But if you’re in a high-tax
Most folks assume that work for tax professionals tapers off after Tax Day, but for many of us, the pace actually picks up. This is often the time when the tough questions begin. And chief among them: What happens if you discover a mistake on your tax return? My answer is almost always the same:
In my new book, Fiscal Therapy: Curing America’s Debt Addiction and Investing in the Future, I show how to reduce federal debt in 2050 from a baseline projection of nearly 180 percent of gross domestic product (GDP) to less than 60 percent of GDP. My proposal would control federal entitlement programs (such as Social Security
U.S. Senator Elizabeth Warren (D-MA) (Photo Credit: AP Photo / Charlie Neibergall) U.S. Senator Elizabeth Warren wants to cancel your student loan debt. Here are five questions. Student Loan Forgiveness: Elizabeth Warren Proposal This week, Warren (D-MA) and a 2020 presidential candidate, proposed a bold plan to cancel student loan debt for tens of millions of
Elizabeth Warren has come out with a corporate income tax proposal. As far as I have been able to discern it is not very well fleshed out and the analysis of it seems pretty weak. Nonetheless, there is a core piece to it that deserves consideration. That would be taxing corporations based on reported earnings.
Sen. Elizabeth Warren has proposed a long list of detailed, ambitious, and very expensive campaign ideas. And she has described how she’d pay for them: She’d raise taxes by trillions of dollars on wealthy individuals and corporations. Give the Massachusetts senator and Democratic presidential hopeful credit for acknowledging that her initiatives must be paid for,
Pension And Retire Text On Yellow Eggs Over Hundred Dollar Note Getty For many Americans, their financial planning goals can be broken down into two periods: saving for retirement and spending in retirement (if you’re up on your financial industry jargon, you might know these phases as accumulation and decumulation, respectively). While this is definitely
Governor Ned Lamont (D) is sounding a skeptical note, but in Connecticut’s legislature, a capital gains surtax proposal may be gaining steam. Under the proposal, capital gains—both short- and long-term—for filers subject to the state’s current top rate (6.99 percent) would be subject to an additional 2 percent on the income tax, yielding a capital
During an IRS audit, one of the most serious grinds that a small or medium business can face is when the IRS decides that as part of an audit they are going to contact third parties – the taxpayers’ bank, suppliers, creditors and even customers. Joy. Now, a recent Ninth Circuit opinion breathes new life
As I finished my federal income tax return for 2018, I could not help but think about a return I filed 30 years ago. What caused my fiscal flashback? This was the first filing season under the Tax Cuts and Jobs Act (TCJA), the largest tax overhaul since the Tax Reform Act of 1986 (TRA86).
Still spinning from Tax Day? You’re not alone: plenty of folks who bagged wins last year are feeling shell-shocked, now that Uncle Sam has walked off with his cut. Let’s face it: it’s too late to recoup any of that cash. But you can still take steps to weaken Uncle Sam’s grip on from your
Getty Now that this tax season is over, it’s time to start planning for the next one. If you own a small business, this means you. The U.S. Small Business Administration reports the number of small businesses with no employees increased from 15.4 million in 1997 to 23.8 million in 2014. A business without any
Senate Democrats have rallied around the Working Families Tax Relief Act (WFTRA) that would significantly expand the Earned Income Tax Credit (EITC) and more modestly boost the Child Tax Credit (CTC). While the measure is not the most ambitious tax idea Democrats have put forward this year, it relies on several existing plans that may
As part of the Tax Cuts and Jobs Act, Congress enacted two companion provisions designed to encourage investment and economic growth in certain low-income communities. First, Sec. 1400Z-1 paved the way for nearly 9,000 such low-income communities to be designated as “qualified opportunity zones” (QOZs). In turn, Sec. 1400Z-2 offers three federal income tax incentives