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Sunday, August 28, 2016
taxes
Republican U.S. presidential nominee Donald Trump speaks to the Detroit Economic Club at the Cobo Center in Detroit, Michigan August 8, 2016. REUTERS/Eric Thayer -

Trump Offers Huge Favors To Billionaires, Calls It A Big Economic Speech

If it came out of the mouth of any other politician, the speech delivered Monday by the Republican presidential candidate at the Detroit Economic Club would have been stunning in its mendacity. But issuing forth from the pie-hole of Donald J. Trump, it was, sadly, to be expected.

August 9, 2016
Britain's Chancellor of the Exchequer George Osborne leaves number 11 Downing Street in London, Britain March 22, 2016. REUTERS/Eddie Keogh

British Finance Minister Cuts Corporate Taxes To Stay ‘Competitive’

The new rate, which was announced without a target date, compares with Osborne’s previous target to cut corporation tax to 17 percent by 2020 from 20 percent now. It compares with an average of 25 percent among most developed economies.

July 4, 2016
Hillary Clinton Ohio Speech

#EndorseThis: Clinton Takes On Trump’s Business Record

“You know, when I was working on this speech, i had the same experience I had when I was working on the speech I gave about foreign policy and national security,” she said, before talking about Trump’s tax plan. “I’d have my researchers and my speechwriters send me information, and then I’d say, ‘Really? He really said that?’ And they’d send me all the background and the video clip… So here it goes.”

June 21, 2016
Republican U.S. presidential candidate Trump addresses the media regarding donations to veterans foundations at Trump Tower in Manhattan

The Buck Never Stops At Donald Trump: He Takes No Responsibility For His Actions

When reporters asked Donald Trump months after his veterans fundraiser where the money went — including whether Donald had, indeed, donated $1 million — he told them he didn’t have to account for the funds.

June 16, 2016
U.S. Republican presidential candidate Donald Trump speaks during a campaign rally at the Century Center in South Bend, Indiana, U.S., May 2, 2016. REUTERS/Kamil KrzaczynskiU.S. Republican presidential candidate Donald Trump speaks during a campaign rally at the Century Center in South Bend, Indiana, U.S., May 2, 2016. REUTERS/Kamil Krzaczynski

Dear IRS: Orangutan Hairs Are Legit!

“Dear Commissioner — As you know, our client is dying to share his tax returns with American voters before the upcoming presidential election. However, he has prudently chosen to wait until your agency has completed its unfair audit of his Form 1040 filings…”

May 17, 2016
Donald Trump points to a supporter as he leaves a campaign event in an airplane hanger in Rome. REUTERS/Carlo Allegri

What Doesn’t Donald Trump Want You To Know About His Wealth?

This is what Donald Trump’s refusal to release his tax returns says about America. We are a nation that can’t think straight about wealth and class. And Trump knows better than to puncture our delusions.

May 14, 2016
An anti-Trump mask and sign sit outside Republican National Committee headquarters in Washington, May 12, 2016. REUTERS/Jim Bourg

Trump Taps Climate Change Skeptic As Energy Adviser, Pushes Back On Taxes

Trump is building out his policy proposals as he pivots from campaigning for his party’s nomination to the general election, including tapping experts in various fields. Among those he has asked for help is U.S. Republican Representative Kevin Cramer of North Dakota, one of the country’s most ardent oil and gas drilling advocates and climate change skeptics.

May 13, 2016
Republican U.S. presidential candidate Donald Trump speaks during a campaign rally in Lynden, Washington, U.S., May 7, 2016. REUTERS/Jim Urquhart

Trump’s Debt ‘Idea’ Would Depress The Global Economy

If his Muslim ban and a Mexican wall didn’t turn away Republicans still planning on voting for Donald Trump, maybe his ideas about the national debt will. The racist billionaire said recently that he would try to game the international economy — much like he did with creditors for his bankrupt casino projects — by paying less on U.S. treasury bonds than what bondholders are owed, a move that would surely destabilize the global economy.

May 9, 2016
Republican U.S. presidential candidate Donald Trump speaks during a campaign rally in Lynden, Washington, U.S., May 7, 2016. REUTERS/Jim Urquhart

Trump Says He’s Open To Raising Taxes On The Wealthy

Pressed on the contradiction between his latest comments on taxes and the September tax plan, Trump said he viewed his original proposal as “a concept” and that he expected it would be changed following negotiations with Congress. “By the time it gets negotiated, it’s going to be a different plan,” Trump told ABC.

May 8, 2016
Jane Sanders CNN

Tax Transparency: Jane Sanders Goes Back On Disclosure Promise

The returns will be released, Jane suggested, when Hillary Clinton provides transcript of her lucrative speeches to Wall Street firms. Clinton should absolutely release the transcripts and she should have done so long ago, but the issues are not even close to parallel.

April 27, 2016
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Tax Transparency: Jane Sanders Claims Returns Released In ‘Every Election’

Sanders had made available only his and wife Jane’s 2014 Form 1040, a summary lacking crucial details about their sources of income, deductions, and tax strategy.

April 13, 2016
U.S. Senator Elizabeth Warren speaks with a fellow guest as they arrive for U.S. President Barack Obama to sign the Every Student Succeeds Act into law in the Eisenhower Executive Office Building at the White House in Washington, December 10, 2015. REUTERS/Jonathan Ernst

Elizabeth Warren Takes On Tax Preparation Industry With New Legislation To Make Filing Easier

The bill would direct the IRS to create a free tax preparation and filing service.

April 13, 2016
Democratic U.S. presidential candidate Bernie Sanders holds a town hall event at the Navajo Nation casino in Flagstaff

Tax Transparency: Sanders Again Promises Full Disclosure

It is also puzzling that the media generally and the top newspaper editorial pages in particular remain so tolerant of stonewalling on taxes by all the candidates. That wasn’t their attitude toward disclosure four years ago, when Mitt Romney tried that strategy.

April 11, 2016
Screen Shot 2016-03-02 at 12.04.10 PM

Does Your Teen Need to File a Tax Return?

“My daughter is 16 and has her first paying job. Does she need to file a separate tax return?”

March 2, 2016
taxes

Gail MarksJarvis: It’s Tax Time — Here Are Some Notable Credits And Deductions

After a few congressional tweaks, it’s worth it to explore the credits and deductions you could be missing.

March 2, 2016
9 key points about Donald Trump’s income taxes

9 Key Points About Trump’s Income Taxes (And Many More Questions)

I expect Trump’s tax returns to be extremely aggressive, but well within the boundaries set by Congress and without even a hint of criminal tax evasion. I also suspect Trump’s returns will show negative income. That’s right — negative.

February 26, 2016
Oil barrels are stacked at a storage facility in Seattle, Washington

Obama’s Oil Tax Is Politically Unfeasible, But It’s Still An Important Discussion To Have

Even though the plan has zero likelihood of passing in a Republican-controlled Congress during an election year, the motivations behind Obama’s proposal deserves a closer look.

February 11, 2016
Democratic presidential candidate Clinton addresses supporters at the Electric Park Ballroom in Waterloo, Iowa

Clinton’s Estate-Tax Plan Doesn’t Address Her Own Tax Planning

Hillary Clinton’s call this week to increase taxes on the wealthy and close “loopholes” didn’t address the candidate’s own moves to shield at least part of the value of her New York home from the estate tax.

January 14, 2016
U.S. Democratic presidential candidate Hillary Clinton speaks after being publicly endorsed by Planned Parenthood Action Fund in Hooksett

Clinton To Propose Four Percent Income-Tax ‘Surcharge’ On Wealthy

“Fair Share Surcharge” would be imposed on taxpayers who make more than $5 million a year, and is expected to raise $150 billion over a decade.

January 11, 2016
Taxes

Can You Turn Your Investment Loss Into Tax Savings?

The end of the year is a good time to consider harvesting some capital losses. By doing so, you may ultimately be able to trim your losses and your taxes — as long as you complete any sales by the end of the year.

December 9, 2015
hundred dollar bills money

Tax-Free Gift Limits: How Much Money Can You Give?

Current gift tax laws allow for some pretty hefty exclusions for the giver. But, of course, as with anything to do with taxes, there are some very particular dollar figures that you should be aware of.

December 2, 2015
taxes

Top 10 Year-End Tax Planning Moves

With time rushing by and the end of 2015 in sight, you may be lamenting that you haven’t accomplished all that you had planned. But even if you’ll have to put off certain things until 2016, you still have time this year to make some smart financial moves.

November 18, 2015
automobile traffic cars trucks highways

Is This The Way States Can Sell Tax Hikes For Transportation?

In a conservative Republican state, how does a governor raise taxes, issue bonds and ask local taxpayers to pay even more for transportation?

October 16, 2015
tax haven

Should Companies Have To Pay Taxes?

With the U.S. tax code now permitting companies to use brazen tax avoidance schemes in true tax havens, the real question is now whether corporations should have to pay any taxes on their profits at all.

September 25, 2015
taxes

Your Mid-Year Money Checkup

This time of year presents a great opportunity to slow down and look at the financial progress you’ve made in 2015.

August 8, 2015