Tax Information

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Small Businesses Filing Amended Federal Tax Returns to Recover Money


Small Businesses Filing Amended Federal Tax Returns to Recover Money By Darren Oliver April 15th may be gone but, but certainly not forgotten ? especially if you, like millions of small businesses, unknowingly overpaid your federal taxes and can recover money by filing an amended return. According to the IRS tax code, you have three years from the filing date for the tax year in question to file an amended return. For example, if returns for the 2003 tax year were filed on March 1, 2004, the taxpayer has until March 1, 2007 to file an amended return. This same rule also applies if the taxpayer feels they have made errors resulting in a balance. Most business owners either prepare their business taxes themselves or have a tax preparer or accountant do them. With either method, the tax liability can be calculated as higher than it actually is because of missed deductions, unrecognized changes in tax laws or just plain being given bad advice. There are a number of applicable deductions which many tax preparers often miss from home office deductions to self-employed health insurance to personal assets converted to business use. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars. Another area, which causes many businesses to overpay, is being given incorrect advice by their tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer produces an average of 480 returns between February 1 and April 15, making it difficult for each return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Furthermore, in the IRS?s 2001 assessment of their own call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether a business owner does their taxes themselves and had to call the IRS for clarification on an issue or a CPA did, odds are the answer was not correct. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can, like all humans do, easily make a mistake. In 2002 alone, 3.3 million taxpayers filed an amended return. Samuel Rowley, owner of Muffler Masters in Colorado, was able to recover $14,500 through the filing of an amended return when it was found that he overpaid FICA and payroll taxes. Another small business owner, Karen McClafflin, owner of home-based Secret Canyon Realty, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Why is it that when faced with a life-threatening surgery a second opinion is immediately sought after but, when trusting thousands or millions of dollars to an individual or entity, it?s done without question? Businesses must get a second opinion, whether it is done before or after the return is filed, to ensure they are not overpaying or simply to ensure their returns are accurate in all aspects. If not, they could be leaving thousands of dollars on the table.

How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share


How Home-Based Businesses Can Avoid Giving Uncle Sam More than His Share By Darren Oliver With the rush to file your taxes by April 15th, you probably did not consider the possibility that you overpaid. According to the General Accounting Office, in 1998 alone, there was $311 million paid unnecessarily to the IRS. Do not count on the IRS to tell you if you have overpaid because they are not required to but you can file an amended return for up to three years. Chances are, you either prepare your business taxes yourself or have your tax preparer or CPA does them. There a number of issues surrounding either tax preparation method, which can result in your tax liability being calculated as higher than it actually is including missed deductions, numerous changes in tax laws or being given incorrect advice. As a home-based business professional, there are a number of deductions you are entitled to which many tax preparers often miss. For example, if you run a home office you are entitled to deduct expenses for the percentage of square footage the home office is occupying. Expenses include the combined total of mortgage interest, property taxes, utilities, repairs, etc. For example, if 250 square feet of a 1,000 square foot house is being used for a home office, you are entitled to deduct a quarter of your total expenses. Although some deductions may seem minor, over an entire year, they can add up to thousands of dollars that you are unnecessarily paying the IRS. That is money that you could be using to grow your business. Karen McClafflin, owner of home-based Secret Canyon Realty in Colorado Springs, CO, was able to recover $11,000 when her tax preparer failed to include home office and automobile deductions in her past returns. Another area, which causes many business owners to overpay, is being given incorrect advice by their CPA, tax preparer or even the IRS directly. In a poll performed by Money Magazine, the average tax preparer, prepares an average of 480 returns between February 1st and April 15th, that is a lot of returns in a relatively short amount of time which makes it difficult for your return to get the time and attention it deserves. This same poll also found there was an average discrepancy of 300% between what the tax preparers said was due and what was actually due. Moreover, in a poll of 50 professional tax preparers, consisting of 10 basic tax questions, none answered all 10 questions correctly and only 34 got at least half correct. This problem does not extend to just tax preparers or CPA?s. In the IRS?s 2001 assessment of their own 544 call centers, they found that 50% of the time, their representatives gave incorrect or insufficient advice. Whether you do your taxes yourself and had to call the IRS for clarification on an issue or your CPA did, odds are the answer was not accurate. The United States tax law is one of the most complex in the world. Not to mention, tax laws change every year and have changed tremendously in the last couple of years. Even the best tax preparer, CPA or even IRS representative can easily make a mistake or, forget to use an exemption which could reduce your tax liability. If you have not yet filed your taxes, it is a good idea to get a second opinion from an independent source. The extra money and time spent in doing this could save you thousands. Look for someone or a company who: Has sufficient years preparing home-based business tax returns Prepares less than the average number of returns between January and April so that your return gets sufficient time and attention. Have had clients get a second opinion. In addition, talk to those clients to get there first hand insight. Is willing to pay for a second review of your tax returns to ensure accuracy. Is willing to take MSN?s online Tax IQ Test at http://moneycentral.msn.com/investor/calcs/n_taxq/main.asp. Although designed for consumers, this test contains basic tax information that even junior level tax preparers should know. Just as you trust a surgeon with your life, you trust this individual or company with your money and confidential information. Be highly selective and do not be afraid to put them through a rigorous qualification. If they are not willing to participate in your qualification then either they do not know their stuff or, your business is not that important to them. If you already filed your taxes or think you might have missed out on deductions, have been given bad advice or failed to take advantage of a tax law change which could reduce your liability for previous tax years, what can you do? The good news is that by law, the IRS is required, for up to three years, to review your returns and records as many times as needed to find errors. You have the same three years to get a second opinion and file an amended return. In fact, in 2002, 3.3 million taxpayers filed an amended return. Samuel Rowley, owner of Muffler Masters in Colorado Springs, was able to recover $14,500 through the filing of an amended return when it was found that he overpaid FICA and payroll taxes. You may worry that an amended return will trigger an audit however; the IRS itself admits this is not the case. In 2002 alone, 3.3 million taxpayers filed an amended return. The IRS is not the big, bad agency we used to know. In fact, statistics show that audits are down and continue to decline. Businesses throughout the U.S. overpay their taxes to the tune of billions each year and your money could be part of the billions that is overpaid. When it comes to your taxes, always get a second opinion to ensure you are not paying more than you should and, you can even hit pay dirt by looking back.

Alas! In E-Commerce Taxland


In trying to comply with tax laws for your e-business, you may find yourself falling down the rabbit-hole, going through the looking glass, and attending a Mad Tea-Party.

Rearrange Your Affairs For Maximum Tax Savings


One way to maximize your business profits is by reducing your taxes. Frequently, income and other taxes could be lowered significantly if only the taxpayer were willing to plan ahead. By taking some simple steps to rearrange your affairs, you could save a fortune!

Organizing Your Taxes


Does this scene sound familiar? It?s April 7. You haven?t seen the top of your dining room table in two weeks because of the piles of paid bills, receipts, canceled checks, and unidentified cash register receipts covering it. Your head pounds and your stomach churns as the countdown to April 15 begins.

Seven Key Tax Deductions for the Self Employed


As a sole proprietor, it?s wise to familiarize yourself with the some key deductions that may reduce your tax bill for 2004.

How To Set Up A Tax-Saving Bookkeeping System


One of the most important, but least understood or appreciated aspects of any business is its bookkeeping or accounting system. And, because very few people know much about the reasons for a bookkeeping system, most people are frightened by the thought of the work involved in setting up such a system, and the drudgery of daily maintenance.

Knock-Knock-Knock


Knock-Knock-Knock

How to Reduce the Estate Tax Using the A-B Revocable Living Trust


In a past article I relayed the plight of the widow who stated:

Keeping Your Own Money ? NOT Handing It Over To The Taxman


Most people trying to make a crust online (or offline for that matter) are so focused on doing just that, they ignore taking simple steps to ensure that they hang on to just as much of it as they can. Instead, they hand over large lumps of their hard-earned money in tax, usually in one of two mistaken beliefs. Either:

Tax Reform, My Way


We need real tax reform and we need it now. Previous attempts have been made at tax reform, but they have only provided band-aid solutions that have still left us with too many quirks, complication, and read tape. There are several things Congress could do to simply the tax system and benefit the taxpayers and federal budget at the same time.

Surprising Truths About Tax Preparers


Choosing the right tax preparer for your business is a decision best not left until April. A former tax preparer and small business mastermind offers insights into the secret world of tax preparers.

Navigating The Internet Sales Tax Laws


QUESTION: I have been contacted by my local city government to say that my business is scheduled to be audited to determine if I owe any sales tax from items purchased on the Internet. Can they really make me pay this tax? I thought you could buy things online tax free? -- Katie R.

Home Based Business Tax Deductions


Running a home based business reaps many wonderful tax deductions that other businesses some times may not claim. Unfortunately to many small business owners end up paying the government taxes every year because they are unaware or several small business deductions that are available.

More Articles from Tax Information:
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What Is Taxable Income?  U.S. News & World Report

Get organized and understand what types of earned and unearned income can be taxed before the start of the tax-filing season.


O rly? California considers plan to tax text messages  NBC News

Your texted emojis may soon cost you in California, if the state's public utilities commission votes to approve taxing text messages next month.


The case for raising the alcohol tax  Vox.com

A higher alcohol tax would save lives, prevent crime, and mostly affect excessive drinkers.


Roanoke's treasurer taking a tougher approach to delinquent meals taxes  Roanoke Times

Two Roanoke restaurateurs are facing embezzlement charges for failing to pay more than $30000 in meals taxes to the city.


N.J. mayors want higher taxes on marijuana. They are pushing a hard bargain.  NJ.com

EDITOR'S NOTE: New Jersey has never been closer to legalizing adult-use cannabis. If you are Interested in the marijuana business industry, NJ Cannabis ...


Hopeful Home Fund will help Berrien County families struggling with property taxes  WSBT-TV

There's no place like home for the holidays, but if you're at risk of losing that home the holidays aren't so sweet. The Berrien County treasurer is hoping to help ...


Make these 2 tax moves in time to cut your tax bill  Yahoo News

Saving for retirement is a good idea, of course, but if you time things right and do your homework, some of your nest egg could also do double duty as a tax ...


Confused about tax return changes? Here's how to find your new bracket  CNBC

The IRS has updated its individual income tax brackets for the new year. The agency has also tweaked its standard deduction and done away with a $695 ...


Gov. Inslee proposes $54.4B state budget with new tax on capital gains  The Seattle Times

Gov. Jay Inslee's $54.4 billion proposed state operating budget represents a roughly 20 percent increase from the $43.7 billion budget that he and state ...


Feds Collect Record Taxes Through November; Still Run $305.4B Deficit  CNSNews.com

(CNSNews.com) - The federal government collected record total tax revenues of $458,653,000,000 in October and November, the first two months of fiscal 2019, ...


Maybe It’s Not Taxes That Scare Off Business but Failing Subways  The New York Times

Amazon is coming to New York despite the city's transit horrors. Other companies may not be so forgiving.


Oregon lawmakers get a taste of possible tax hikes in 2019  OregonLive.com

Business begins for the day on the floor of the Oregon House of Representatives on May 14, 2015 at the Capitol in Salem. Randy L. Rasmussen/Staff LC- The ...


Dems aim to punt vote on ObamaCare taxes | TheHill  The Hill

Health-care companies are making a last-minute push to delay ObamaCare taxes as part of a year-end government funding deal, but they face resistance from ...


This falling market offers an opportunity to cut your taxes in retirement  CNBC

There might be a silver lining in this fall's recent market tumult: Now could be a good time to convert some of your retirement savings to a Roth IRA. We explain ...


‘Historic’ Tax Refunds Will Extend Retail Boom Into 2019  Bloomberg

Polling shows that many Americans don't like the landmark tax overhaul passed a year ago, but maybe that's because they haven't received a bulk of the ...


Climate change: Protecting the poor from green taxes  BBC News

As President Macron caved into the yellow vest fuel tax protests, President Trump was triumphant. The French humiliation showed people rejected the sort of ...


No tax increase planned in Harrison, commissioners to consider different tax break for firefighters  Tribune-Review

Harrison Commissioners are expected to vote Monday to adopt a proposed $5 million budget that includes no increase in real estate taxes. The township's real ...


An Echo Press Editorial: In defense of tax increases...  Alexandria Echo Press

OK, the headline for this editorial is a little misleading. Nobody — including the newspaper's editorial board — believes that local governments should go around ...


Illegal Tax Moves to Avoid  U.S News & World Report Money

It may seem like a harmless fib, but lying on your taxes can result in fees, interest and penalties.


The Golden Age of Rich People Not Paying Their Taxes  The Atlantic

An eight-year campaign to slash the IRS's budget has left the agency understaffed, hamstrung, and operating with archaic equipment. The result: a ...


China's Rich Rush to Shelter $1 Trillion From New Taxes  Bloomberg

Wealthy Chinese are rushing to shelter assets and income in overseas trusts before new tax rules go into effect next month, including provisions that target ...


Cell Phone Taxes and Fees in 2018  Tax Foundation

A typical American household with four wireless phones paying $100 per month for taxable wireless *service* can expect to pay about $229 per year in wireless ...


Taxes going down in Delaware County  WPVI-TV

Taxes are going down for Delaware County residents.


Final decision on Allentown's tax increase to come Saturday  69News WFMZ-TV

A battle between Allentown's mayor and city council over a hefty property tax increase -- the first in 13 years -- is going down to the wire.


Employer taxes, rent caps, and more in big, bold Bay Area housing plan  The Mercury News

Rent caps, new taxes, emergency assistance, anti-eviction policies and more are all on the table in this big and bold agenda to build and preserve housing in ...


California proposes a plan to tax text messages  CNN

San Francisco (CNN Business) California regulators want to tax text messages to increase funds for programs that bring connectivity to underserved residents.


Brady releases revised version of year-end tax package | TheHill  The Hill

House Ways and Means Committee Chairman Kevin Brady (R-Texas) on Monday released a revised version of his year-end tax package, a move aimed at ...


'Tax Liens' Mean Towns Win, Homeowners Lose  NPR

When homeowners can't, or won't, pay their property taxes, local governments auction off the right to pay those taxes to private companies. Housing advocates ...


In early win for party’s left, House Democrats back off tax rule  The Washington Post

House Democrats have backed off a proposed rule that would have made it more difficult for them to raise taxes and pass their most ambitious goals, an early ...


7 year-end tax tips to boost your refund  CNBC

The new tax law has put a whole new spin on year-end tax planning, though it hasn't eliminated the need to do it altogether. "The tricks we had in our back ...


Pay Your Taxes In Bitcoin, Trigger Tax Losses On Price Drop Too  Forbes

With Bitcoin and other crypto prices down again, many holders don't want to sell. But if you owe taxes, how about paying them in Bitcoin? Selling now may ...


Mayor Rahm Emanuel pushes state gas tax increase to fund major transportation bill  Chicago Tribune

Mayor Rahm Emanuel on Tuesday called for a 20 to 30 cent per gallon increase in the state's gas tax to fund a major statewide transportation bill.


Paris Is Burning Over Climate Change Taxes -- Is America Next?  Forbes

The bottom line is this: economic freedom—the kind you get with a large middle class—leads to prosperity, economic growth, and technological innovation.


State income tax to drop, edging closer to 5 percent  The Boston Globe

The state's income tax rate will drop from 5.1 percent to 5.05 percent in January. But other changes could be in store for taxpayers if the economy keeps ...


How to solve the tax gap, erase the deficit, and build a wall  MyNorthwest.com

During November, the federal government spent twice as much as it took in. Biggest monthly deficit on record. Which is why some are calling for more IRS ...


House Democrats to seek Trump tax returns: Pelosi  Reuters

Democratic leader Nancy Pelosi said on Thursday that members of congress from her party will seek to obtain President Donald Trump's tax returns when they ...


North Dakota governor proposes tax exemption for military pay, pensions  Military Times

Gov. Doug Burgum wants to exempt military pay and pensions from North Dakota income taxes, arguing in part that retaining veterans could help the state fill ...


FCC panel wants to tax Internet-using businesses and give the money to ISPs  Ars Technica

At AT&T's urging, committee proposes tax on websites to pay for rural broadband.


Agent's Take: Here are the NFL's real highest-paid players after taxes and salary deferrals are considered  CBS Sports

We did the math, and these 15 players are the real top earners in 2018.


What Are the 2019 Tax Brackets?  Motley Fool

Here's a look at the tax brackets for 2019 and what they could mean to you.


Travel and taxes are a bad combo - One Man's Meat  The Star Online

When holidaymakers have to pay more charges than they think they should, the aviation and tourism sectors may encounter turbulence.


Divorcees can save on taxes — if they take this one step  CNBC

If you're planning on shedding weight in 2019 — in the form of your soon-to-be ex — be sure you understand this tax-planning benefit. Why the "head of ...


All the Taxes in France  The Wall Street Journal

Even before the fuel tax, France had the highest burden in the West.


The Trump tax cuts are putting America in a hole  Yahoo Finance

Tax cuts and a slowing economy will erode America's fiscal strength during the next decade, according to a new report from Moody's Investor *Service*, the ...


Why greens are turning away from a carbon tax  POLITICO

Putting an economic price on greenhouse gases is proving a hard sell with the public, even as time to head off climate change shrinks.


How State Taxes Could Affect Where Bryce Harper and Manny Machado End Up  Sports Illustrated

Contract value can fluctuate substantially depending on the state. How might that affect the negotiations for Harper and Machado?


Kansas, Missouri have high taxes on cell phones, report says  The Wichita Eagle

Kansas, Missouri and Nebraska all ranked high in a report tracking tax rates on wireless *service*.


The New 2019 Federal Income Tax Brackets And Rates  Forbes

We're just about to enter 2018 tax filing season. But already the IRS has issued new federal income tax brackets for 2019. Confused? That's completely ...


Reedsburg City Administrator resigns over error, taxes will increase over 6 percent  Baraboo News Republic

Stephen Compton resigned from his duties as city administrator for Reedsburg amid budget errors and a miscommunication with the council when presenting ...


Miami's oldest church slapped with a $7 million tax bill  Miami Herald

The First Presbyterian Church of Miami, the oldest organized congregation in the city, has been hit with a $7.1 million tax bill by the Miami-Dade Property ...


California considering text message tax – but iMessages would be exempt  9to5Mac

California is considering introducing a tax on text messages. The reason? Because nobody makes phone calls any more. While you might not be aware ...


Europe won't give up on new tech taxes  CNN

London (CNN Business) EU plans for a new tech tax are on life support. But Facebook and Google could still be on the hook for millions in payments.


New Arizona ban on taxing 'services' might wreck city budgets. So cities lawyer up  AZCentral

Prop. 126 bars new or increased taxes on services, but the voter-approved measure did not define "*service*". Restaurant waitress. A waitress retrieves dishes at ...


Kentucky physician sentenced after failing to pay taxes for 4 years  WKYT

Dr. Werner Grentz, 69, was sentenced to federal prison Wednesday after authorities say he falsely reported his yearly income as $0 between the tax years ...


GM has barely paid federal taxes for years. Here's why  CNN

GM has used one of the most popular tax breaks in corporate America to reduce, or even eliminate, its federal income tax bill since it came out of bankruptcy.


The Tax Cuts And Jobs Act: 3 Changes You Should Know  Forbes

Tax season is coming more quickly than you might think — has the Tax Cuts and Jobs Act affected you? Read here to discover more!


Modesto City Council approves tax rate for marijuana retailers  The Modesto Bee

The City Council in Modesto, California, has approved a tax rate for cannabis retailers and other marijuana businesses, including distribution, microbusiness, ...


It May Be Time to Stop Itemizing Your Tax Deductions  NerdWallet

The standard deduction nearly doubled for 2018, leaving many taxpayers wondering whether itemizing tax returns is worth the effort anymore. Tax pros share ...


Property taxes are going up in Lynn - Itemlive  Daily Item

With no discussion, the Lynn City Council voted unanimously on Tuesday night to set the lowest residential tax rate at $14.30 per $1,000 home assessment.


Mike Haridopolos says he deserves a tax break because of Indian River Lagoon problems  Florida Today

Former Florida Senate President Mike Haridopolos says he deserves a tax break on his Lansing Island home because of the Indian River Lagoon problems.


Editorial: N.C. has greater needs than more corporate tax cuts  WRAL.com

Wednesday, Dec. 12, 2018 -- Given North Carolina's needs, not to mention the additional costs tied to hurricane and snowstorm recovery, the General Assembly ...


A no-brainer tax break — if you’re old enough and have a traditional IRA  San Francisco Chronicle

People who are at least 70½ years old and donate to charity should consider making the donation from their individual retirement account to take advantage of a ...


Wow, a Financial Transactions Tax Is an Amazingly Good Idea  Splinter

Imagine—just imagine—if a tiny, barely noticed tax on Wall Street could solve many of our nation's problems. Well it can!!!!!!!!


Kentucky doctor really didn’t like paying taxes on hefty income. Now he’s headed to prison  Lexington Herald-Leader

A Kentucky doctor who evaded paying more than $1.1 million in federal income taxes has been sentenced to four years in prison. Dr. Werner Grentz, 69, ...


Paying Taxes Wisely: A Fresh Look at Tax-Efficient Withdrawal Strategies  Kiplinger's Personal Finance

Sometimes it pays to go against conventional wisdom. Here are two ways to possibly reduce taxes in retirement while extending the life of your nest egg by ...


10 Smart Steps to Minimize Taxes and Penalties on Your RMDs  Kiplinger's Personal Finance

Here are 10 smart RMD moves to help you minimize taxes, meet deadlines and avoid penalties when you make these mandatory withdrawals from your ...


No, The Deficit Isn't 'Soaring,' But Tax Revenues Are At Record Highs  Investor's Business Daily

In the first two months of the new fiscal year, tax revenues are up. But so is the deficit. Why? Because spending continues to outpace revenues. So why do tax ...


France’s protesters are part of a global backlash against climate-change taxes  The Washington Post

The single most effective weapon in the fight against climate change is the tax code — imposing costs on those who emit greenhouse gases, economists say.


Make the Most of Potential Tax Deductions Under the New Tax Law  Kiplinger's Personal Finance

With some year-end planning, you may still find it worthwhile to file an itemized return to lower your 2018 tax bill.


Kansas faces new fight over taxes after years of turmoil  The Associated Press

TOPEKA, Kan. (AP) — Kansas' new Democratic governor promised not to raise taxes to meet her goals of boosting spending on public schools and social ...


Pay Taxes With Bitcoin? Ohio Says Sure  The Wall Street Journal

Ohio appears set to become the first state to accept bitcoin for tax bills, a show of support for a technology that has garnered lots of hype but failed to gain traction ...


It may be time to stop itemizing your taxes  Yahoo Finance

Around this time of year, many taxpayers begin the annual ritual of pondering The Big Question: Do I take the standard deduction or spend time hunting for ...


Republicans are taxing churches to help corporations. Really.  The Washington Post

Republicans tax churches to help pay for big corporate giveaway. You would be forgiven for thinking this is a headline from the Onion or the fantasy of some ...


Proposed foreign tax credit regulations issued  Journal of Accountancy

The IRS issued proposed regulations on the determination of the foreign tax credit after the changes in the law made by the Tax Cuts and Jobs Act.


Hundreds of Thousands in France Protest Taxes by Blocking Roads  The New York Times

The country's “Yellow Vest” movement demonstrated nationwide, blocking roads and roundabouts, to register anger about fuel taxes and the loss of purchasing ...


What the Amazon tax breaks really mean  Vox.com

I think the easiest way to understand Amazon's HQ2 and the specific question of cities handing out tax subsidies is to abstract away from the particular details of ...


Macron, Confronting Yellow Vest Protests in France, Promises Relief  The New York Times

PARIS — Faced with violent protests and calls for his resignation, President Emmanuel Macron of France said Monday that he had heard the anger of the many ...


Sherrod Brown’s tax math on GM moving to Mexico  The Washington Post

The senator from Ohio said GM's tax rate would be cut in half if it moved its Lordstown plant to Mexico. That's open to interpretation.


Taxes could present 'significant problem' for Trump, says ex-federal prosecutor | TheHill  The Hill

Former federal prosecutor Gene Rossi on Monday said that taxes could present significant legal hurdles for President Trump after federal prosecutors in New ...


Will Trump's 'Opportunity Zone' tax break help residents along North Broad — or push them out?  Philly.com

The tax break, a part of the 2017 tax bill, is designed to spur investment in distressed communities. But with few incentives for investment that will directly help ...


1 Smart Tax Move to Make in December 2018  Motley Fool

Most of the provisions of the tax reform bill that passed in late 2017 took effect at the beginning of this year. Between new tax rates and brackets, expansions of ...


France Suspends Fuel Tax Increase That Spurred Violent Protests  The New York Times

PARIS — Trying to quell its most serious political crisis, the government of President Emmanuel Macron announced on Tuesday that it would suspend the ...


Why pro athletes may lose a fortune because of the new tax law  MarketWatch

CPAs who work with athletes say they can no longer get full deductions for state and local taxes — or for itemizing.


Herbert proposes $200 million tax cut — but also new taxes to 'broaden' Utah's shrinking tax base  Deseret News

In a year with more than $1 billion in new state revenue, Gov. Gary Herbert is proposing a $200 million sales tax cut to help Utahns keep more money in their ...


Six tax deductions you'll lose on your 2018 return  CNBC

If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That's because the Tax Cuts ...


Stadium taxes: You'll pay more for Reds, Bengals stadiums  Cincinnati.com

Once again, Hamilton County leaders broke a promise.


Cook County restores tax on parking apps before January cut took effect  Chicago Tribune

Cook County commissioners voted to repeal a parking app tax cut set to take effect next month.


Uber disputes Georgia tax bill, and the stakes are high  Atlanta Journal Constitution

Ride-hailing companies like Uber and Lyft could be on the hook for tens of millions of dollars as a tax dispute with the state heads to court. The Georgia ...


Des Moines will vote on sales tax increase in March  Des Moines Register

Des Moines voters will be asked again whether the city should increase the local sales tax by a penny in March. This time, they don't need support from the ...


In eulogy, Alan Simpson praises George HW Bush for raising taxes  Washington Examiner

Former Wyoming Sen. Alan Simpson on Wednesday used his eulogy of George H.W. Bush as an opportunity to praise the former president for agreeing to raise ...


Ex-US attorney: Mueller ‘absolutely’ has Trump’s tax returns | TheHill  The Hill

Former U.S. Attorney Chuck Rosenberg said Thursday that he “absolutely” believed special counsel Robert Mueller has President Trump's tax returns.


Going Through Divorce? Start These 3 Steps Today To Save On Taxes  Forbes

The Tax Cut and Jobs Act eliminated the alimony deduction for divorces after 2018. The new law will mean less money for expenses of the two household.


Want to pay less in taxes? Here are last-minute tax tips for 2018  NJ.com

AS the year comes to a close, make sure you know what changes to expect under the new tax plan - before it's too late.


Anger over rising fuel taxes sparks fiery French protests  USA TODAY

Thousands of French police have deployed to contain the eighth day of deadly demonstrations that started as protests against tax but morphed into a rebuke of ...


Justin Trudeau’s Carbon Tax Push Finds Critics on All Sides  The New York Times

A conservative shift in Canada's provinces has opened a new battle over carbon pricing, threatening one of the prime minister's goals. But that is not the only ...


Think you’re owed a property tax refund? San Bernardino County residents have until Tuesday to claim checks  San Bernardino County Sun

Homeowners in San Bernardino County have a few more days to claim property tax refunds, otherwise the county gets to keep them. On Tuesday, Dec. 18, the ...


Thousands in France protesting gas taxes and President Macron  Vox.com

Thousands of protesters in Paris and elsewhere in France demonstrate against rising fuel prices and Macron's economic policies.


FBI Raids Trump's Former Chicago Tax Attorney Who Saved the President $14 Million in Property Taxes  Fortune

The FBI raided the offices of Trump's former Chicago tax attorney, who obtained millions in assessment relief for the Trump Organization.





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