Could L.A. Millionaires Be Facing Another Tax?

la-homeless

Everyone can agree that being homeless is terrible. No matter what the circumstances are that bring an individual to this predicament, it’s unfortunate that anyone has to be without a place to call home. Cities all over the country deal with the homeless in different ways, including California. The Golden State is considering taking its effort to stamp out homelessness even farther, and they are looking at the state’s wealthiest individuals to foot the bill.

According to reports, the L.A. County Board of Supervisors plans to include a proposal in November that would add a tax of .5 percent to anyone that has an annual income over $1 million. According to the numbers, that would create anywhere between $250 and $300 million each year in funds that would be earmarked for eliminating homelessness and helping these individuals back into the workforce.

So far, early indications show that most people are very much in favor of the idea. A recent poll showed that 76 percent of the 1,400 people asked, liked the proposal. The plan to wipe out homelessness in the county includes creating steady housing and services as well as job placement help, among other things, for the county’s growing number of homeless people. No word yet on how those who fall into this bracket would respond.

http://time.com/money/4356367/millionaire-tax-los-angeles-homeless/

Posted in
Strategies for Representing Yourself in an IRS Audit

Strategies for Representing Yourself in an IRS Audit

Strategies for Representing Yourself in an IRS Audit Have you been selected by the IRS for an audit? It’s OK. Relax; you can get through this. Although we advise you to never try to go through an audit by yourself, if you really like a challenge and would rather do it by yourself, there are…

Strategies for Representing Yourself in an IRS Audit

U.S. Government Could Lose Billions Due to Fewer Audits

U.S. Government Could Lose Billions Due to Fewer Audits Taxpayers rejoice! There may actually be some good news about tax returns this year. The US Government could lose billions due to fewer audits.  That’s because according to reports, due to  reduced staff, the IRS may be forced to reduce the number of audits it would…