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- 4 Tax Breaks of Homeownership
There are two things you can count on when you become a homeowner: You get more tax breaks, and your taxes get more complicated. Whether you've purchased a single-family home, town house, or condominium, there are tax breaks available to you. It's time to get familiar with the Form 1040 and Schedule A because that's where you will have to provide all the details about your new tax-deductible ...
tax 28 Jan 2012 - APNewsBreak: Group pushing tax change gets $1.2M
A group pushing to replace Missouri's income tax with a broader sales tax said Thursday it has received a million-dollar contribution from a prominent Missouri businessman.
tax 28 Jan 2012 - Tax Gap Grows Between Haves And Have-Nots
President Obama?s call for tax reform may have sparked an unpleasant debate about who should pay more and what kind of system we have. Unfortunately, a minimum tax is something we tried in the 1960s. It spread into the out-of-control (and often quite inequitable) AMT. Will??Everyone??Pay??AMT??Next??Year? Plainly, an AMT model is flawed. Yet with all ...
tax 28 Jan 2012 - IRS Wins $62M GE Tax Shelter Case
You would expect a tax shelter designed to save General Electric $62 million in taxes to be complicated. You would be right. The Second Circuit upheld a ruling against General Electric's financing arm that charged the conglomerate with understating its income. See TIFD III-E Inc. v. United States. The court said the IRS was right and IRS penalties were correctly applied. See General Electric ...
tax 28 Jan 2012 - Assets on tax forms missing on Romney financial disclosures
(Reuters) - A handful of financial holdings reported by U.S. Republican presidential hopeful Mitt Romney on his tax returns was not declared in earlier government financial disclosures, his campaign acknowledged on Thursday. A comparison of Romney's 2010 tax filings with a set of disclosure forms he submitted last year to government election officials showed some holdings listed in the tax ...
tax 28 Jan 2012 - Household employers face tax deadline
Taxes » Don't Miss The Household-help Tax DeadlineYour new baby has certainly added a lot to your life, including a nanny to help you handle all your new parental duties. But while your new hire may make ...
tax 28 Jan 2012 - Okla. House leaders detail plan to curb tax breaks
Dozens of state tax credits will remain unavailable for two more years, and stricter oversight will be put in place before any more credits are renewed under a legislative plan announced Thursday by House leaders.
tax 28 Jan 2012 - Key Democrat puts Romney tax issue in payroll fight
CAMBRIDGE, Maryland (Reuters) - Private equity managers should pay more in taxes to help fund a tax break for 160 million U.S. workers, a top Democratic lawmaker said on Thursday, taking a swipe at laws that helped Republican presidential hopeful Mitt Romney pay a 15 percent tax rate on much of his income. Lawmakers are working to extend through the end of 2012 a payroll tax cut due to expire on ...
tax 28 Jan 2012 - A Personal, and Painful, Tax Reality ? Common Sense
With all the focus on tax rates, I sat down with my 2010 returns, calculator in hand. I?m still reeling from the results.
tax 28 Jan 2012 - Five Tax Deductions that Favor the Rich
All is not equal when it comes to tax breaks. The rich benefit more.
tax 28 Jan 2012
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