Gates Not Opposed to Wealth Tax Despite Implications

Bill Gates

There has been much chatter lately regarding a wealth tax. At least two of the leading democratic presidential candidates have discussed it, even though most wealthy Americans would likely oppose this tax. After all, why should they be punished just because they make more money? But not all wealthy taxpayers oppose a wealth tax. In…

Read More

Tips for Filing Your Tax Return

Tips for Filing Your Tax Return

Tax season is here and the deadline for filing your tax returns is nearing. If you are not sure where to start, these five tips may help as you prepare to send your tax returns to the IRS and state authorities. 1.Get Organized You should review all financial activities throughout the year and collect any…

Read More

Deductible Business Expenses

Deductible Business Expenses Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit. What Can I Deduct? To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted…

Read More

Tips to Help Taxpayers with January 31 Tax Season Opening

We are again suggesting some tips to help taxpayers with the January 31 tax season opening.  The IRS will begin processing most individual income tax returns on Jan. 31 after updating forms and completing programming and testing of its processing systems. The IRS anticipated many of the tax law changes made by Congress under the…

Read More

Taxable and Nontaxable Income

Taxable and Nontaxable Income Most types of income are taxable, but some are not. Income can include money, property or services that you receive. Here are some examples of income that are usually not taxable: Child support payments; Gifts, bequests and inheritances; Welfare benefits; Damage awards for physical injury or sickness; Cash rebates from a…

Read More

2016 Tax Rates and Other Numbers Are Out

2016 Tax Rates and Other Numbers Are Out

    The 2016 tax rates and other numbers are out.  And yes, it’s that time of year again; so, you better have your turkey and all the other fixings ready for Thanksgiving.  But it’s also time to take a look at the latest tax brackets and standard deductions amounts for the upcoming 2016 tax…

Read More

Taxable Investment Account

  Be Careful What You Put in Your Taxable Investment Account By Kent Livingston Mutual funds are a great option for anyone who wants to invest his or her money in the stock market but has limited time, money or knowledge. In short, mutual funds offer a simple way for just about anyone to play…

Read More