I’ve received a number of queries about the capital gains exclusion for the sale of a personal residence (more on that next week). But it made me start thinking about the policy reason for exempting gain and why a limit would be imposed. So, I’m curious to hear what you think. Today’s Fix the Tax Code Friday question is:
Should there be a limit on the amount of gain that you can exempt from the sale of your personal residence?
As I mentioned on yesterday, holiday bonuses (and the equivalent) are taxable. Seems a little Grinch-y to some folks. So today’s fix the tax code Friday question is: Should holiday bonuses be taxable? And if not, which holidays should be included for purposes of such an exemption? Kelly Phillips Erb Kelly Phillips Erb, known as Taxgirl, is a…
It’s Fix The Tax Code Friday! Today’s question focuses on the new, refundable tax credit in the GOP health care proposal.
It’s Fix the Tax Code Friday! As the economy continues to sour, Congress and the White House both agree that some measure of economic stimulus is needed. The problem? They can’t agree on what would work best. So, I’m taking it to you, the taxpayers… Which of the following scenarios currently being contemplated by Congress…
Earlier this week, I reported that Treasury Secretary Steven Mnuchin was still considering extending the tax season. Reactions to this idea were mixed. So, for today’s Fix The Tax Code Friday question, I want to know your opinion: [forminator_poll id=”52138″] Kelly Phillips Erb Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and…
Some members of Congress have proposed a “war tax” to fight the increasing costs of the wars in Iraq and Afghanistan. Opponents are crying “no more taxes” while others scramble to reconcile a budget spiraling out of control. So today’s question is: Should Congress impose a war surtax in order to pay for the war?…
So, my father-in-law was saying that he always claimed the standard deduction, despite the fact that he would have saved more money by itemizing, just because it was easier. That brings up an interesting point… Why have itemized deductions at all? Why not just have everyone claim the standard deduction? So, today’s Fix the Tax Code Friday question is:…