Tax season 2017 is in full swing. Statistics issued by the IRS showed a 17.2% decline in the total number of returns received through February 10, 2017 compared to the same period last year. The decline was most likely caused by the mandate on refunds on returns involving the Earned Income Credit and the[…]
President Obama released his fiscal year 2015 budget on March 4. I have written about some of the personal tax proposals in a previous post. Now let’s take a look at some of the business tax provisions. Depreciation Code Section 179 allows business taxpayers to expense the entire cost of qualifying property in the year[…]
President Obama released his FY 2015 budget proposals on March 4. I’m not one to analyze the benefit or cost behind proposed tax law, or argue conservative or liberal viewpoints ( I am conservative), but I am interested in what may be on the horizon for tax law. While I’m conservative, I’m not naïve enough[…]
President Obama released his budget proposal earlier this month. There are many tax changes for businesses and individuals included in his budget. A few of the provisions designed to increase taxes include the following: Create a “Fair Share Tax”, which would require households with at least $1 million of income to pay a minimum of[…]