10 Things To Know About The Fiscal Cliff Deal
Here is what you need to know as the dust settles on the Congressional tax bill.
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The World Keeps Turning, Even As Payroll Tax Cuts Expire
So as the dust settles in the Congressional tax bill, you knew it would only be a matter of time before the hyperbole started. And there it was. Just a day after the tax deal was passed, the headlines were all over the place: TAXES ARE GOING UP! Taxes will rise for most Americans! Higher…
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How You Can Lose Money on Paper & Still Win at Tax Time Like Romney
We’re programmed to hate losses. A loss tends to mean that you did something wrong, made a poor move, or chose the ill-advised option. But in the tax world, a loss isn’t always a bad thing. Losses on paper sometimes mean a win at tax time – just ask Mitt Romney. Romney’s 2010 federal income…
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As Tax Season Approaches, IRS Releases 2013 Refund Information
Expecting a refund in 2013? The IRS has announced they expect refunds to be processed about as quickly in 2013 as they were in 2012. Last year, the IRS issued more than 9 out of 10 refunds to taxpayers in less than 21 days; the average refund was about $3,000. For the new year, you…
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Throwing A Holiday Party That Even Uncle Sam Will Love
Dear corporate types, I do love the B52s but under no circumstances should “Rock Lobster” be played – and danced to – at a company party. That was my tweet on yesterday. I happened to be working at a venue not far from such a party. It was a mishmash of mostly middle-aged corporate types…
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Challenges To Same Sex Marriage To Be Heard By Supreme Court
On Friday, the Supreme Court of the United States granted certiorari on two same sex marriage cases. Those cases include Hollingsworth v. Perry, a challenge to California’s controversial Proposition 8 measure, and a case out of New York, U.S. v Windsor, which considers the constitutionality of the Defense of Marriage Act (DOMA). As noted on…
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What You Can Learn From The Most Recent Lottery Winners
The final Powerball ticket holder has come forward to claim one half of record jackpot hosted by the Arizona lottery. The winner – who has asked to remain anonymous – will pocket nearly $200 million before taxes; he reportedly spent just $10 to buy the winning ticket despite being prompted by the clerk to buy…
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Key GOP Senator Says Yes To Higher Tax Rates In Compromise
It might have started with quiet whispers about breaking THE promise – you know, the one apparently signed in blood to never, ever have an (using Norquist’s imagery) “impure thought” about raising taxes, cutting deductions, letting tax breaks expire or anything remotely related. But now? It’s not a whisper anymore. It’s a full on grown-up…
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What Not To Do In 2012 As Tax Rates Creep Up
As December 31 creeps closer, we keep hearing stories about how the combination of increased taxes and sequestration is literally the end of the world. It has a whole zombie apocalypse feel to it. But should we ready our bunkers and stock up on canned goods just now? Not quite. Outside of taking note of…
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IRS Announces 2013 Standard Mileage Rates
If you feel like gas prices have been edging up, it’s not your imagination. Prices have increased since last year and the IRS has taken notice. Beginning January 1, 2013, the standard mileage rates will increase slightly to: 56.5 cents per mile for business miles 24 cents per mile for medical or moving purposes 14…