Tax

Tax cuts played an important role in stimulating economic growth. In the fiscal stimulus package, the government temporarily reduced taxes with a sales tax holiday, tax credits on income and housing taxes, permanently extending the alternative minimum tax, making dividend and capital gains tax cuts, and cutting the corporate tax rate. Since declines in housing prices made people feel less wealthy and thus unwilling to spend, the government provided tax rebates. 29% of total individuals and…

How Tax Shelters Work kw: tax shelters Meta: You know that tax shelters are used to hide wealth, but that is about it. Find out how tax shelters work. Tax shelters are technically any kind of legal strategy that someone uses to limit the amount of taxes that someone owes. While many people think that a tax shelter is illegal, this is not always the case. You do not have to resort to breaking the law tax deductions or credits. Legally, there are a number of ways that you can shelter your…

Understanding the Fair Tax Act A lot of Bronx tax payers feel that the tax system applicable here is too complicated. It is thus that the wealthy and other exceptional groups are taking advantage of the same and the other tools to avoid the payment of taxes. It is this that a proposal to introduce Fair Tax Plan has now come up. There are many other reasons to this and it is thus that it has gained a lot of recognition too. In the recent part the Fair Tax Plan is one system which is being well…

of Utilitarian Approach to Apple’s Tax Avoidance To determine the ethical choice via the Utilitarian approach it is necessary to identify and measure the utility of the decision being made. The ethicality of tax avoidance will be measured by the utility gained or lost by Apple, Ireland, and the United States. The analysis will focus on the years 2009 through 2012, the years Apple’s subsidiary companies paid no corporate income tax to any nation because of the tax discrepancies. The decision…

alarms about the situation at HSBC. In other words, tax evasion violates ethics and culture of corporations. The…

For every dollar in taxes a religious organization does not pay, you and I are paying for it. Churches have been tax-exempt since the start of our country. Our government and society are founded on the freedom to choose, freedom of faith and religion, but we all share the tax burden of religion, even if we choose not to practice it. The First Amendment of the United States Constitution clearly states churches are separate from the government. The First Amendment also states the freedom to…

“The U.S. corporate tax rate (35%) is the highest rate amongst the developed nations” (Dubay, 2015). Meaning, that U.S. companies pay a lot more in taxes than foreign companies do. Therefore, if Congress eliminated corporate taxes, Amazon would report a higher income since their earnings will no longer be taxed. This higher income would allow Amazon to partake in more investments such as the purchases of plant assets that they can use to earn additional revenue. Since Amazon would be doing well…

what they actually pay. Patricia Cohen, a writer for the New York Times writes that despite the top tax bracket being 39.6%, the top 0.1% earners pay only 25% in taxes on average (Cohen). There are a variety of loopholes that people who can afford the best attorneys and financial consultants are able to utilize; however, the most common method is the exploitation of the capital gains laws. The tax rate for capital gains and dividends (which is money made from investments and property) is a…

Family Tax Benefits - Australia On moving to Australia, NZ citizens do qualify to receive the family tax credit benefit from the Australian government. (Kelsey, 2011)In Australia this policy is known as the Family Tax Benefit (FTB). The Australian FTB is administered by their Dept. of Human Services. The minimum a family can receive from the family allowance is $50. This amount received depends on the families’ income. The FTB is divided in to part A&B. FTB Part A The payments are either made…

Cigarettes and tobacco products are highly taxed. Steve Mason/Photodisc/Getty Images Excise tax, also known as duty or sumptuary tax, is an indirect tax that is charged at federal and state levels on the sale of particular items. It is an indirect form of taxation, since the government does not apply the tax directly on the consumer, but instead charges manufacturers, producers and merchants, who pass the tax on to consumers through higher prices. These taxes are often levied on items such as…