Tax

The Congress passed the Sixteenth Amendment to impose a Federal income tax. Income tax gives the opportunity for the federal government to build bridges and roads, army, and also enforce laws and carry out other essential duties. The reason for the Sixteenth Amendment because after the Civil War, the industrial and financial markets increased of the eastern United States. Although the farmers of the west and south suffered from low prices for their farm products, due to the fact they were…

government asks an individual to pay tax they are fined if they don’t. When the government asks a large multinational company to pay tax a political party gets a donation, and no tax gets paid. The Australian government has regardless of which political party, over many years shown that its preference is to allow large multinational companies including Google, Apple and Amazon to avoid their tax obligations while doing very little to help those in need with any form of tax relief. In 2013-14…

Real Estate Tax Strategies Achieving Financial Strength Through Real Estate Tax Strategies The right tax strategy can help you build true wealth because you can deduct hundreds of everyday personal and business expenses and interest payments, generate cash flow from rentals while building equity and realize tax-free capital gains on the sale of primary homes every two years. Any financial portfolio benefits by including real estate to hedge and balance the investments. In real estate, agents…

taxpayers often file a joint tax return than filing separately since joint filing provides several benefits including tax savings. This is true especially if one spouse earns more income than the other spouse. But when a tax return is jointly filed, both individuals are equally responsible for the payment of taxes. If one of you underpays your taxes, the IRS can come after both spouses to collect the entire tax dues. Under joint and several liability rules, joint tax return filers remain…

flat tax or flat to the graduated tax? The graduated tax system, also known as the progressive tax system of the United States of America, has been in place since the time Abraham Lincoln. Many people disagree with each other that the progress tax system is unfair because tax rates create more of a task on lower income wage earners. Reform is being considered, one plan is the flat tax, which states everyone will pay the same tax rate. Flat tax is better than the graduated tax because a flat tax…

The FactCheck published an article “Who Benefits From Corporate Tax Cut?” which was written by Robert Farley, a journalist for more than 23 years, was most recently a reporter at the St. Petersburg Times for more than 13 years. The main idea that was touched upon in this article was corporate tax cut and who takes benefits from it. According to the Treasury Secretary Steven Mnuchin words he says “most economists believe that over 70 percent of corporate taxes are paid for by the workers” and…

Most of us dread doing our taxes, whether for our personal finances, our business, or the few dollars our child made flipping hamburgers last summer. Although filing a tax return is generally a once-a-year event, the activities that result in the final amounts reported occur all year long. That’s why the professionals at CK & Co offer year round service and planning. Why Choose a Certified Public Accountant CPAs devote years of study obtaining their degrees in subjects such as business…

revenue. As tax burden increases, many Indonesian tycoons shift their assets overseas to evade onerous income tax. Consequently, the Indonesian government proposes the implementation of tax amnesty to lure money back into the domestic market. Besides certain criticism, this approach is welcomed because of its expediency. Tax amnesty seems to be a pragmatic policy that employs the economic principles: People face tradeoffs and people respond to incentives. Both the government and the tax-dodgers…

It is 2032 and a guaranteed universal basic income has been in place for about 5 years now. My dad is a doctor and went through 2 medical residencies to get where he is now. He has been in school for as long as I can remember, working hard, studying so much my family barely saw him, he even had to work two jobs when he was in residency so that our family could live comfortably. 6 years ago, all of my dad’s dedication and hard work paid off. He opened his own practice! Back then, we all thought…

Jeb Bush, son of George H. W. Bush, has promoted more conservative tax policies during his campaign for president as a Republican candidate. He recently announced his tax plan on September 8; promoting tax cuts for all individuals and corporations. In general, Republicans heavily favor the “trickle down” economic theory, the theory that economic benefits for the wealthy will “trickle down” and benefit society as a whole. Rather than spend their newfound wealth, the upper classes would choose to…