It is not news that state tax revenues have been absolutely hammered in the current economic downturn. But you may be surprised to learn that one local tax has held up relatively well. It is, of all things, the property tax .
But in an effort to pull more future income into the current and previous fiscal year, the 2009 budget front-loaded estimated tax payments so that 40 percent, rather than 25 percent, are due in June. …
Inheritance tax (IHT) is usually troubling to those that are affected by it. I know many who had hoped that the new administration in government would increase the current thresholds (£325000 or £650000 for a couple/ 2010) fixed by the …
I agree that something needs to be done with our current tax system but whatever is decided it must be fair to all individuals. Other examples of changes being proposed is a national consumption tax and a fair tax. The value added tax …
An early casualty of the new coalition government is the Conservatives’ planned increase in the inheritance tax nil-rate band to £1 million. Instead, the current exemption of £325000 will remain in place for the lifetime of the current …
Due to the current state of the economy the IRS has offered an even higher tax break that will cover mileage deductions from July 1st, 2008 through December 31st, 2008. The rate for business purposes for this six month window will be …
Given the current and projected large scale budget deficits of the United States, many people are advocating that the US follow the example of Europe and many other countries, and introduce a value added tax ( VAT ).
A national sales tax seems like a good idea, but not if it doesn’t replace the current and confusing national income tax system.
Frankly, I favor the idea of a “ Consumption Tax ” to replace the current income tax system. It would eliminate to a great degree the inefficiency of the current system. Tax collection would be greatly simplified and the bureaucracy would …
We need to make the transition from our current system of income tax to a system of consumption tax . Very simply put: all I have to report when filling out my tax form is how much I earned and how much of that I saved; the rest is what …