Taxpayer asks: Are tax rates locked in at start of year ?? I’d like to do a Roth conversion in early Jan 2021. Can I count on Trumps current tax rates ? If Biden would wins, could he change the rates before year end ?? Taxgirl says: Even though we like to call tax policy…
With just a few days before the President delivers his 2015 State of the Union address to Congress, the White House has released a “sneak peek” of what we can expect. Not surprisingly, tax and economic reforms will be on the President’s agenda for 2015 as he seeks to close what he terms “unfair loopholes…
(Update: We have our winners!) Our second tax trivia question is: In honor of President’s Day, this question focuses on presidential tax returns. Since Richard Nixon, almost all of our U.S. Presidents (and most presidential candidates) have reported this specific kind of additional income on their tax returns. Since it’s occasional income for our Presidents,…
With 19 days left on the calendar until the end of the year, Congress is pretending like they want to make a deal on the budget. But if you think that means we’ll see significant reform between now and then, don’t hold your breath. Yesterday, House Speaker John Boehner (R-OH) and President Barack Obama held…
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…
Wow, all that coffee tonight and I didn’t even need to stay up very late! Almost all of the major networks and media have called the race for President Barack Obama. It appears that the Senate will be controlled by the Democrats and the House will be controlled by the House (as predicted). So, what’s…
With Election Day just around the corner, I’ve received a number of questions about the differences between the Obama/Biden and Romney/Ryan tax plans. It’s nearly impossible to compare the plans note by note for a couple of reasons: The plans aren’t etched in stone. Details on some parts of the plans are fuzzy and others…
Our next tax trivia question is: Taxpayers may indicate on their tax returns that money be given to the Presidential Election Campaign Fund. About how much money was given to the Presidential Election Campaign Fund from 2010 tax returns? For more about the giveaway, including rules and prizes, check out this post.
Taxpayer asks: Does the President have to pay income tax? — I get that question a lot. And this week, I also received this question: — Taxpayer asks: Does the President pay income taxes to every state he visits on official business? This question occurred to me because of the pending Mobile Workforce legislation. Also,…
Comedian Dave Barry is running for President (not) and he has a tax plan (also not). Check out this video clip on CNN.