From the category archives:

Taxes

Romney’s Corporate Raider Job Gives Him a 13.9% Tax Rate

In any other year, Mitt Romney’s financial experience might be a selling point for his political campaign. Anyone in finance knows the private equity business, and many more know the firm Romney led – Bain Capital. But now Wall Street has a marketing problem. Given America’s love-hate relationship with the wealthy, his experience in private [...]

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Social Security Tax Deal for 2012 Explained

Social Security Tax changes for 2012 were recently enacted but will likely change again later in the year since the latest deal only carries over for the first two months of 2012 and will likely need to be extended yet again.  Aside from extending the existing payroll tax cut by 2% (payroll tax reduced from [...]

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Debt Ceiling Vote Explained – What Media ISN’T Telling You

The debt ceiling vote was consummated on August 2, 2011 just in time to avoid a technical default on US government obligations.  I’ve been tracking this issue of the US hurtling toward bankruptcy for the entire year and this is a more current update to my initial post predicting how this whole charade would play [...]

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45% of Americans Paying NO Federal Taxes for 2010

Like a bad dream, each year, the headline surfaces from various tax foundations regarding how many Americans paid no federal taxes.  Last year it was 47%.  This year it’s 45%.  Same thing.  Millions of Americans, many of them earning six figures or more, will not pay a dime into the federal tax coffers this year.  [...]

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Review: OnepriceTaxes.com

It’s tax time again.  Despite what you’ve probably heard about the vast complexity of the US tax code, most Americans can actually e-file their taxes online without the use of an accountant or tax preparer in person.  I did this for years until very recently when I had the added complexity and documentation associated with [...]

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Value of Tax Shield Explained – MBA Mondays

The Value of Tax Shield strategies by corporations will be the subject of this week’s MBA Mondays with Darwin.   Have you ever found it odd that in the same day, you’ll hear the pundits on CNBC saying that IBM or Exxon are sitting on hoards of cash, but then you see that they’re still issuing [...]

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Guess Which 5 Companies Pay the Most Taxes?

People love to trash big business, especially politicians.  You know, those greedy bastards that make all those profits?  Recall when oil spiked to over $140 per barrel, politicians were calling for a “windfall profits” tax?  What a ridiculous notion.  I don’t know, do they get a “windfall loss” tax deduction when times are bad?  Well, [...]

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Energy Tax Credit 2011 – Not What It Used to Be

The  energy tax credit for 2011 is not nearly as generous as the credit was in 2010 when you were able to deduct up to $1500 as as long as it was 30% of the total installed cost of various home efficiency measures like window installations, hot water heaters and more.  While the 2011 tax [...]

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If you Make 6 Figures, You’re Getting 2 Bonuses Next Year

There were two recent developments that have locked in 2 additional bonuses for 6 figure earners in 2011.  Aside from the framework tax deal Obama announced last week which left tax rates alone for all earners, the payroll tax reduction of 2% and the locked cost-of-living adjustment on Social Security means the cap at which [...]

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Payroll Tax Holiday – How Much Would It Save You?

The Payroll Tax Holiday that was brushed aside by the administration in the past is coming to the forefront again as a possible compromise between conservatives and liberals as a means to help “stimulate” the economy without having some of the same problems the other efforts have had.  Namely, it would actually work…as opposed to [...]

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