Month: June 2012
Should Warren Buffett’s $3.46M Lunch Be Tax Deductible?
About taxes, John F. Kennedy once said, ''The slogan—'It's deductible'—should pass from our scene.'' (Special Message to Congress on Taxation, Apr. 20, [...]
IRS Announces More Flexible Offer-in-Compromise Terms to Help a Greater Number of Struggling Taxpayers Make a Fresh Start
IR-2012-53, May 21, 2012
WASHINGTON — The Internal Revenue Service today announced another expansion of its "Fresh Start" initiative by offering more [...]
Follow Three Simple Tax Rules
Taxes are complicated, but some rules are simple. Respect these three rules, and you’ll reduce the chance of coming to grief with the IRS.
1. Keep [...]
Hidden State-tax Breaks Can Add Up for Small Cos
As CFOs look to cut costs in all aspects of their operations, one often-overlooked area for savings is the hidden state-tax incentives available where they do [...]
5 Tax Rules That Work
I’m not a big fan of rules of thumb in the realm of personal finance, primarily because we are such inherently varied and volatile beings that most scenarios [...]
5 Tax Myths Debunked
"Don’t let the tax tail wag the dog." In college, I heard that quote for the first time from the professor who made the greatest impact on me in those years, [...]
IRS Finds 1 in 189 High Earners Paid No U.S. Taxes in 2009
The percentage of U.S. taxpayers reporting adjusted gross income exceeding $200,000 who paid no U.S. income taxes increased in 2009 to 0.53 percent from 0.51 [...]