California Comes Out on Top of Estimated Tax Revenue
Who says California isn’t doing well financially? When it comes to taxes, it appears that the Golden State is doing just fine. California is definitely one of the worst locations to live if you want to keep your tax bill low. With the latest report from the state’s Controller, Betty Yee, it’s no wonder that taxpayers wonder why they lose so much money to the government.
According to recent reports, the month of February was a very good month for the state treasury. That’s because Ms. Yee reported that California beat it’s tax revenue for the month of February by about $1 billion. In fact, the state received about $6.6 billion in total tax revenue in February, which beat Governor Jerry Brown’s estimates by close to 18 percent.
Of that amount, $2.6 billion came from tax receipts from personal income taxes. That was 26 percent more than expected. Meantime, taxes for retail and use were up about 16 percent. As for the fiscal year, revenue for the general fund is already 1.4 percent higher than forecasted.
While the news is good for the state, the extra money could be gone fast. That’s because with all the extra cash, many expect that democratic lawmakers will encourage the governor to increase spending.
Leader or Manager – Which One Are You?
Leader or Manager – Which One Are You? Are you a great leader or just a manager? While your title may include “manager” that doesn’t automatically make you a leader. Likewise, being a manager doesn’t mean you can’t be a leader, as well. Some people might think the words leader and manager are interchangeable, but…
When Should I Convert From a Traditional to a Roth?
When Should I Convert From a Traditional to a Roth? If you own a traditional IRA then chances are you’ve considered converting it to a Roth IRA. At the very least, you’ve heard about this option and wondered if it’s right for you. Both types of IRAs are good. A traditional IRA is a way…
Why Doesn’t the Government Tax the Wealthy to Fund SS?
Why Doesn’t the Government Tax the Wealthy to Fund SS? The demise of Social Security is coming. In fact, it looks like it’s getting closer and closer every day. For almost eighty years retired workers have been collecting monthly Social Security checks. What started as a program to help low income individuals for a few…
Try These Strategies to Simplify Taxes in Retirement
Try These Strategies to Simplify Taxes in Retirement It might be coming up in a year or two, or maybe you’re still 20 years out, but retirement is coming at some point. There’s a lot to plan for when it comes to retirement, and taxes are one of the big ones. That’s the bad news.…