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September 30, 2023

taxes

Article

HILL: Using the flat-rate structure of payroll taxes to reform our tax policy 

January 4, 2023 Frank Hill

Close to 60% of all American taxpayers, about 100 million households, don’t pay one dime in federal income taxes. If a household makes $75,000 or less annually, it will most likely pay zero income tax. […]

No Picture
Article

Officials: Expect $4.2B more NC revenue this year, $2B next

May 12, 2022 Gary D. Robertson, Associated Press

RALEIGH — North Carolina government tax collections will smash the projections used to help fashion the first year of the current two-year state budget, officials announced Monday as lawmakers return next week to begin figuring […]

Article

Justices reject states’ appeal over cap on tax deductibility

April 21, 2022 The Associated Press

WASHINGTON, D.C. — The Supreme Court on Monday rejected a challenge from New York, New Jersey, Connecticut and Maryland to the 2017 tax law that capped federal tax deductions for state and local taxes. The […]

Article

7 ways small-business owners can save on taxes in 2022

March 1, 2022 Tina Orem, NerdWallet

Taxes are complex, and for small-business owners, freelancers and people with side gigs, they’re even more complex — especially now, as filers reckon with the tax effects of small-business relief programs and rule changes.  But […]

Article

HILL: Elon Musk’s “itty-bitty” $11 billion tax payment

February 23, 2022 Frank Hill

Tesla founder Elon Musk is scheduled to pay $11 billion in California state and federal taxes by April 15.  That figure, $11 billion, would almost be equal to tax collections from all sources in South […]

Business

Traded cryptocurrency in 2021? Here’s how to approach taxes

February 3, 2022 Sabrina Parys, NerdWallet

Professionals have a major piece of advice for those who traded cryptocurrency for the first time last year: Take your tax prep seriously. The IRS has been zooming in on cryptocurrency reporting with increasing interest […]

Article

Tax season begins two weeks early due to virus, IRS funding

January 13, 2022 Martin Crutsinger, Associated Press

WASHINGTON, D.C. — This year’s tax filing season will begin on Jan. 24, 17 days earlier than last year, the Internal Revenue Service announced Monday. The IRS is warning that a resurgence of COVID-19 infections […]

Article

LETTER TO THE EDITOR: Federal government revenues are soaring, don’t increase taxes now

November 18, 2021 Jon Gauthier

Some people would have you believe cutting taxes reduces government revenue. However, as evidenced by the Tax Cuts and Jobs Act of 2017, individual and corporate tax rates were reduced, but federal revenues increased from […]

Article

SHAPIRO: Punishing achievement is punishing everyone

November 8, 2021 Ben Shapiro

This week, Democrats settled on an area of apparent commonality: the desire to eat the rich. According to Treasury Secretary Janet Yellen, “Senator Wyden and the Senate Finance Committee … would impose a tax on […]

Article

MOORE: Taxing America first

October 23, 2021 Stephen Moore

Back in early 2016, when Larry Kudlow and I suggested that then-presidential candidate Donald Trump propose a 20% business tax rate for U.S. companies (down from the highest in the world rate of 35%), he […]

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