With cold and flu season ramping up, your wallet is likely to take a hit – especially now that the threshold for claiming the medical deduction has increased under Obamacare. What options exist for easing the pain of copays, medications and other medical expenses?
Read MoreYear: 2013
Lesson Lerner-ed? Disgraced IRS Official Tenders Resignation
Remember Lois Lerner? The former Internal Revenue Service Director of Exempt Organizations made headlines this spring when she was accused improperly targeting certain applications for tax-exempt status based on keywords and politically charged language. She’s finally stepping down from her position. Why now?
Read MoreRussians Consider Boosting Divorce Tax, Citing ‘Moral And Demographic Decline’
As Russia’s economy slows down, its leaders are searching for new ways to raise revenue. Yelena Mizulina, the head of the Committee on Family, Women and Children in the Russian Parliament, thinks she has the answer: increase the tax on divorce.
Read MoreAchtung Baby: Bono Defends U2 Tax Moves
U2 is one of the most successful rock bands in the world. Frontman Bono is considered one of the most charitable men in the world. Yet, when it comes to economics, the band chose to move some operations to the Netherlands in order to pay fewer taxes. Is that hypocrisy? Bono says no.
Read MoreThe Game Is Giving Away $1 Million ‘Just Because I Feel Like It’
Rapper The Game has pledged to give away $1,000,000. And it’s not going to big name charities but to small time folks. What are the consequences of these kinds of gifts?
Read MoreGovernment Shutdown 101: What Happens When The Lights Go Off?
With Congress and the White House unable to reach a conclusion on the budget, a government shutdown looms. What happens if we don’t have the money to keep the lights on?
Read MoreIRS Gets Big Win In Corporate Tax Holiday Case, Readies For Next Fight
This week, BMC Software Inc., which was acquired this week by a private investor group led by Bain Capital LLC (yes, that Bain Capital) and Golden Gate Capital together with Insight Venture Partners, GIC Special Investments Pte Ltd, and Elliott Management Corporation, found out its fate in a tax dispute with IRS.
Read MoreSurviving Tax Season: It’s Not Over Yet
With a few weeks to go before tax returns are due for those individuals on extension, tax professionals are already looking forward to the season being over. But who’s to blame for the mess this year?
Read MoreForget Kiddie Tax, New Senate Proposal Would End “Parent Tax”
Everyone in Washington seems to have a plan for tax reform – but at some point, they’re all beginning to sound the same. Senator Mike Lee (R-UT) stands out for his novel approach: benefiting parents. But will it fly in Congress?
Read More2014 Tax Brackets, Exemption Amounts Likely To Save Tax Dollars
Following the release of data from the Department of Labor, Wolters Kluwer, CCH released estimates of what 2014 tax brackets might look like, along with other tax items likes the personal exemption and the standard deduction. How will you be affected?
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