Could “Red” States Actually Be Considering Tax Hikes?
![shutterstock_333011963-[Converted]](https://groco.com/wp-content/uploads/2021/02/shutterstock_333011963-Converted.jpg "shutterstock_333011963-[Converted]")
Revamping the nation’s tax system is a very hot topic in Washington D.C. at the moment and that’s not going to change any time soon. One of the reasons Donald Trump was elected president was his stance on simplifying the country’s tax system and lowering the nation’s tax bill. This was a common theme amongst House and Senate republicans during the election, as well. However, some states that typically vote republican are now singing another tune.
According to recent reports, several red states are actually considering new taxes as a way to give their tax revenue dollars a boost. Many of these states, including Kansas, recently made big waves by cutting taxes across the board. However, they are now finding depleted budgets with no relief in site.
That’s why Kansas, along with several other states, including Arizona, Tennessee and Missouri are all considering raising taxes or creating new ones, including raising gas taxes, among them. Meantime, lawmakers in Oklahoma, Nebraska, Indiana and Mississippi are all considering different tax hikes, including raising tobacco taxes, increasing sales and property taxes, creating an Internet sales tax and additional vehicle taxes.
On the other hand, states that have just voted to put republicans in control are still considering tax cuts, including Iowa and New Hampshire. No matter where you live, taxes continue to be a hot topic just like they are on Capitol Hill. 2017 stands to be an interesting year for tax reform, one way or the other.
http://thehill.com/policy/finance/313101-red-states-mull-higher-taxes
Are You Defining Items in QuickBooks Correctly?
[vc_row][vc_column][vc_column_text] Create item records in QuickBooks carefully, and QuickBooks will return the favor by running useful, accurate reports. Figure 1: Clearly-defined items result in precise reports. Obviously, you’re using QuickBooks because you buy and/or sell products and/or services. You want to know at least weekly — if not daily — what’s selling and what’s…
Saving Money for College: Education Credits
Saving Money for College: Education Credits Education credits are tax credits available for qualified education expenses paid by the taxpayer in the furthering of their education. Qualified education expenses are defined as an expense paid during the tax year for tuition and fees required by an eligible educational institution for student enrollment and attendance. Room…
Thinking About Giving up Your U.S. Citizenship? Think Twice
Thinking About Giving up Your U.S. Citizenship? Think Twice While not a lot of people ever entertain the thought of giving up their U.S. citizenship, there are more people every year that are making that choice. Among them are several wealthier people whose main reason for renouncing is to escape the country’s overloaded tax system;…
Health Care For Senior Citizens – Understanding Medicare!
Health Care For Senior Citizens – Understanding Medicare! By Dennis Wolfe In America having health care cost protection (also known as medical insurance) is not a right. Neither is it a right to access health care services. Health care services in strict economic definitions are simply services for which we consumers pay fees. As consumers…