With gas prices on the rise, it’s no surprise that the mileage rates as determined by IRS were a little higher this year than in years past. For the calendar year 2007, the standard mileage rates will be: 48.5 cents per mile for business miles driven; 20 cents per mile driven for medical or moving…
My real anniversary, that is, not a blog anniversary. I’ve been married for six years. And the notion of my anniversary got me to thinking. You know, about marriage and what drives people to marry and to divorce. It should come as no surprise to anyone in the modern world that finances are often cited…
Everybody in the US (and beyond) seems to agree that the Tax Code is broken. What we can’t seem to agree on is how to fix it. Here’s your chance to offer your two cents… This week’s question: Following up on recent posts about tax breaks for college sports, considering the amount of money available…
Back in February, Madeline authored an interesting post about the tax implications of college football. Not to be outdone at the beginning of football season, DevilGrad followed up on an inquiry by some Congressional officials into the tax-exempt status of college sports. It seems, these days, that as the popularity of college sports grows, so,…
The Tax Foundation, a nonpartisan tax research group based in Washington, D.C., recently released its State Business Tax Climate Index which ranks how “business friendly” the 50 state tax systems are. Not surprisingly, the results showed that from a tax perspective, it’s generally more expensive to do business in parts of the northeast and less…
Ever wish you could live a double life? Growing numbers of people do every day. At least, virtually, courtesy of a San Francisco-based Linden Lab which has introduced a virtual world called Second Life in 1999. Second Life describes itself on its website as: “a 3-D virtual world entirely built and owned by its residents….
In part of its efforts to get more money faster be more tax-payer friendly, the IRS has finally brought its Installment Plan Agreement online. The OIA is not to be confused with the OIC, the Offer in Compromise, which allows you to apply to reduce the total amount of tax due either because it is…
It’s not just movie stars who are getting in trouble for not paying their taxes these days. Professional athletes have their share of issues, too. In Italy, the Serie A club, Siena, lost one point due to late payment of taxes on players’ wages. The loss of the point was crucial to the club, which…
As part of a regular series, I’m instituting “Fix the Tax Code Friday!” Everybody in the US (and beyond) seems to agree that the Tax Code is broken. What we can’t seem to agree on is how to fix it. Here’s your chance to offer your two cents… This week’s question: What expense, currently not…
Officials have confirmed that Wesley Snipes, who has an arrest warrant pending in the United States for tax evasion, is currently filming a movie in Namibia (yes, of Angelina and Brad fame). He is reportedly filming a movie in the Namib desert, though the film company would not comment. There is no extradition treaty between…