Taxes & The State Of The Union 2013

Last night, the President delivered his annual State of the Union speech to members of Congress and to the nation. Each year, this is the President’s opportunity to address Congress and the nation about how we’re doing as a country and what his particular agenda will be for the coming year. You can read the … Read more

IRS Releases Proposed Regs for Health Care Law: Who’s Covered, Who’s Exempt and What Happens If You Don’t Pay?

The IRS has finally released proposed Regulations relating to the requirement to maintain minimum health care insurance coverage under the terms of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, as amended (“ACA”). Under the terms of ACA, there is a “shared responsibility to reform and … Read more

Boehner, Obama Talks Heat Up But Still No Deal On Taxes, Spending

With 19 days left on the calendar until the end of the year, Congress is pretending like they want to make a deal on the budget. But if you think that means we’ll see significant reform between now and then, don’t hold your breath. Yesterday, House Speaker John Boehner (R-OH) and President Barack Obama held … Read more

9 Tax-Related Myths About Selling Your Home

I am moving. It feels weird to finally say that out loud (er, yes, the blog counts as out loud). I have lived in my current home in Philadelphia for fourteen years: my entire adult life, more or less. In that time, I’ve stored up a whole houseful of memories. I have hosted Thanksgiving dinners … Read more

Romney, Ryan & Reagan: The Winning Team?

“Mitt’s Choice for VP is Paul Ryan.” That’s the message that Mitt Romney supporters received this weekend via his smartphone app. And with that, many prospective voters went scurrying to figure out: Who is Paul Ryan? Here’s the quick scoop on Ryan: He’s Rep. Paul Ryan. He’s represented the 1st congressional district for Wisconsin in … Read more

Cheney’s Million Dollar Heart Stirs Health Care Debate: Who Lives & Who Dies?

Over the weekend, Vice President Dick Cheney received a new heart at Inova Fairfax Hospital in Falls Church, Va. The news raised eyebrows and questions about whether he was too old for the procedure. At age 71, Cheney was older than the average heart transplant patient; while there is no firm age limit for a … Read more

Taxes From A To Z: M Is For Making Work Pay Credit

M is for Making Work Pay Credit. Doh! This is kind of a trick post. There is no Making Work Pay Credit for 2011. That also means no Schedule M. The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act which was signed into law on December 17, 2010, did not renew the Making Work … Read more

Paying For Getting Better: What’s Deductible?

I’m back in North Carolina for the second time in two weeks, this time with Nurse Kate (my daughter) in tow. My mom had heart valve replacement surgery last week and it wasn’t without her complications: her lung collapsed the day after the surgery and the resulting 24 hours was quite stressful. Mom is back … Read more

Deal or No Deal? Congress May Have Agreement on Payroll Tax Cuts

Congressional leaders are reporting that they’ve reached a deal to extend the payroll tax cut. Two Representatives in the “closed door” committee negotiations, Reps. Renee Ellmers (R-NC) and Fred Upton (R-MI), seemed upbeat and optimistic about the agreement. Reportedly, a vote will come before the full House on Friday. Under the compromise, the payroll tax … Read more