Taxes

As many tax readers are aware, in South Dakota v. Wayfair, 585 U.S. __ (2018), the U.S. Supreme Court upended the physical presence rule, meaning that states are no longer bound by a physical presence bright-line rule to impose tax collection obligations. (I explain the Wayfair case in more detail, here). In the wake of

Vote Elections Pixabay Spain is about to hold its most contested general elections in history. The Spanish President Pedro Sánchez called general elections last February after the Government’s defeat to approve the General State Budgets in the Congress.  This Sunday 28, Spanish citizens will vote in a political scenario more fragmented than ever, although in

I can’t tell you how many conversations I’ve had about property taxes. Other than discussing the turmoil, in Washington, real estate taxes are a perennial pain point. If you live in a low-tax state, of course, property taxes are not an issue and you probably shouldn’t read any further. But if you’re in a high-tax

Barrel of oil with words sanctions. Getty America’s determination to enforce sanctions and drive Iran’s oil exports to zero have put China in a box. When it comes to the policy options to deal with the situation that is. This is evidenced by the way Beijing responded following Washington’s announcement that it won’t extend the

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses the widespread confusion about whether filing and suspending is a necessary part of restricted applications, spousal benefit eligibility, filing at FRA or later, survivor benefit calculation and the timing

The research and development (R&D) tax credit is finally in a good place – with Congress making the federal credit permanent, and ultimately expanding it so that small and medium businesses can now easily reduce their tax bill. Over time, Congress began to realize an imbalance of companies who were taking advantage of the credit.

President Trump’s tax and regulation cutting spurred economic growth with quarterly GDP running at 2.8% over the past 9 quarters compared to 1.9% in Obama’s last 9. Data from the U.S. Bureau of Economic Analysis, chart by the Texas Public Policy Foundation The U.S. economy grew at a 3.2% annual rate in the first quarter,

Most folks assume that work for tax professionals tapers off after Tax Day, but for many of us, the pace actually picks up. This is often the time when the tough questions begin. And chief among them: What happens if you discover a mistake on your tax return? My answer is almost always the same:

NFL Commissioner Roger Goodell speaks ahead of the first round at the NFL football draft, Thursday, April 25, 2019, in Nashville, Tenn. (AP Photo/Steve Helber) ASSOCIATED PRESS Gregory R. Hampton, a New York Giants fan, might have been the biggest winner in the National Football League (NFL) draft. Hampton won 100 years of season tickets

Unless you filed for an extension (sorry) the 2019 tax season finally is over. And it was eventful. It was the first under the 2017 Tax Cuts and Jobs Act (TCJA), which made many of us uncertain to say the least. It got off to a rocky start thanks to a month-long government shutdown that

U.S. Senator Elizabeth Warren (D-MA) (Photo Credit: AP Photo / Charlie Neibergall) U.S. Senator Elizabeth Warren wants to cancel your student loan debt. Here are five questions. Student Loan Forgiveness: Elizabeth Warren Proposal This week, Warren (D-MA) and a 2020 presidential candidate, proposed a bold plan to cancel student loan debt for tens of millions of

Elizabeth Warren has come out with a corporate income tax proposal. As far as I have been able to discern it is not very well fleshed out and the analysis of it seems pretty weak.  Nonetheless, there is a core piece to it that deserves consideration.  That would be taxing corporations based on reported earnings. 

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column explores when a lower-earning spouse can best file, filing when a spouse will receive a pension based on income not covered by Social Security, whether divorced spousal benefits can be

Still spinning from Tax Day? You’re not alone: plenty of folks who bagged wins last year are feeling shell-shocked, now that Uncle Sam has walked off with his cut. Let’s face it: it’s too late to recoup any of that cash. But you can still take steps to weaken Uncle Sam’s grip on from your

Pension And Retire Text On Yellow Eggs Over Hundred Dollar Note Getty For many Americans, their financial planning goals can be broken down into two periods: saving for retirement and spending in retirement (if you’re up on your financial industry jargon, you might know these phases as accumulation and decumulation, respectively). While this is definitely

During an IRS audit, one of the most serious grinds that a small or medium business can face is when the IRS decides that as part of an audit they are going to contact third parties – the taxpayers’ bank, suppliers, creditors and even customers. Joy.  Now, a recent Ninth Circuit opinion breathes new life

As part of the Tax Cuts and Jobs Act, Congress enacted two companion provisions designed to encourage investment and economic growth in certain low-income communities. First, Sec. 1400Z-1 paved the way for nearly 9,000 such low-income communities to be designated as “qualified opportunity zones” (QOZs). In turn, Sec. 1400Z-2 offers three federal income tax incentives

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses whether to file and suspend before filing for spousal benefits, when divorced spousal benefits can be available, when spousal benefits become available, the calculation of divorced spousal benefits and

Getty Now that this tax season is over, it’s time to start planning for the next one. If you own a small business, this means you. The U.S. Small Business Administration reports the number of small businesses with no employees increased from 15.4 million in 1997 to 23.8 million in 2014. A business without any

Tense work of four employees sitting in the front of monitors in the office room. Getty Senate Democrats have rallied around the Working Families Tax Relief Act (WFTRA) that would significantly expand the Earned Income Tax Credit (EITC) and more modestly boost the Child Tax Credit (CTC). While the measure is not the most ambitious