It’s finally here! I’m kicking off my state tax series this week… beginning with Alabama and ending in a bit with Wyoming (sorry, Wyoming, you’re like the short kid in school). I’d love to hear your stories – I might be able to use them in the series. If you moved to or away from…
Earlier today, the GOP indicated that they are not on board with the Democrats’ proposal for a second economic stimulus package. There’s no surprise there. Rep. John Boehner (R-OH), the top ranking Republican in the House, wrote a letter to Rep. Nancy Pelosi (D-CA) calling the proposal: an irresponsible, business-as-usual approach that has earned this…
Taxpayer asks: I was told by “somebody” that the stimulus checks we received will be deducted from our tax refunds for 2008? Is that true? Taxgirl says: Nope. The tax rebates are not taxable and will not be credited against your 2008 return – unlike the 2001 rebates which were credited against the 2002 returns….
After a federal judge initially barred Helio Castroneves from leaving the country as part of the race car driver’s bail conditions, it seems he has changed his mind. Despite arguments by the prosecutors that Castroneves had both motive and assets to flee the country, U.S. Magistrate Judge William Turnoff said that he believed “the dumbest…
I indicated earlier that I didn’t think that a second economic stimulus package would be considered until after the elections – and it looks like that is, in fact, the case. I’m actually still confident that any stimulus package which includes “tax rebates” would not result in checks being mailed out until the new year….
There’s a lot of good discussion on the Fix the Tax Code Friday comments thread about debt cancellation and mortgage debt cancellation relief. I started to reply to one of the comments and thought it was best to make it a separate post so that it doesn’t get buried. I wanted to clarify some misconceptions…
Fix the Tax Code Friday is back! This is your chance to sound off about tax policy – and propose how you would fix the Tax Code if you were in charge… One of the heavily criticized pieces of the economic bailout package is the extension of the debt forgiveness exemptions for mortgage cancellations. Here’s…
When all else fails, hit ’em in the pocketbook… This week, supporters of Proposition 8, which would ban gay marriage in California, released an ad, pictured above. The ad claims that under current law, gay marriage would be promoted in public schools and warned that churches which opposed same-sex unions would lose their tax exempt…
I’ve been tossing around blog post after blog post in my head, trying to figure out what to write exactly about the tax provisions in the most recent bailout package. And I think I’ve finally figured out what’s been bothering me: the darn thing just doesn’t make sense. I knew that the bill was going…
Taxpayer asks: My wife and I make a combined annual income in the ballpark of $270-280K/year. We work hard, and are saving for a home in order to start a family. I need someone to explain something to me …. I understand that Barak Obama’s proposed tax plan uses the $250K mark as the line…