The month of December comes with holiday expenses, a looming new tax year, and high heating bills. With all of the holiday cheer, it can be easy to spend more than you can afford. Fortunately, there are literally hundreds of ways you can save money this month. To help out [...]
Earlier in the week one of my favorite blogs – The Glass Hammer – posted a very interesting article on how so many attorneys have been willing to neglect their personal lives to avoid being let go. However, as the article explains it is important to give yourself some [...]
From Reuters.com:
The U.S. government racked up a gaping shortfall in the first two months of this fiscal year after posting a record budget deficit last year, congressional analysts said on Friday.
In October and November, the government spent $292 billion more than it took in, [...]
According to the Associated Press, the IRS auctioned off acres of land owned by a Native American tribe to help pay off a tax debt totaling more than $3 million dollars. The tribe asserts that the sale is illegal under a federal law protecting Indian land, but the IRS [...]
From Bloomberg.com:
President Barack Obama plans to head to the U.S. Capitol to press Senate Democrats to agree on health legislation as lawmakers struggle to resolve disputes over issues including a proposed government-run insurance plan.
Democrats met throughout yesterday to seek an alternative to Senate Majority Harry [...]
From DET News.com:
Pam Anderson - the actress/Playmate/home movie star and ex-wife of Detroit native Kid Rock - owes more than $1.9 million in delinquent taxes, records show.
What's owed:
The IRS filed a $1,700,173 lien against Anderson on Oct. 19 with the Los Angeles County [...]
According to the Tax Foundation “46.6 million people who filed tax returns in 2007 had a zero or negative tax liability -- 32.6% of the 143.0 million tax returns filed. In about half of these cases, substantial additional money was ‘refunded’ to the tax filer. 15 million people do [...]
The holiday season is in full swing, and while your children’s heads may be filled with visions of sugarplums, yours is probably full of nightmares about the upcoming tax season. The holidays are expensive, and while hitting up the sales rack may save you a few bucks, the real savings [...]
New reports have emerged showing a slight improvement in the country’s job loss problem. According to Automatic Data Processing – a payroll-processing firm – private job losses totaled 169,000 in November. This represents the eighth month in a row that job losses have fallen from the month before according to [...]
Yesterday, Bank of America announced plans to repay the $45 billion in government bailout money it received last year. They hope the move will help them recruit a new CEO, a feat they have yet to manage since their last CEO (Ken Lewis) announced this was to be his last [...]
From NPR.org:
Despite all the attention given to Afghanistan this week, President Obama knows that most Americans' biggest concern is the lackluster economy. When new unemployment numbers come out on Friday, they're likely to show that tens of thousands of people lost jobs in November. So the White [...]
In their newest press release the IRS announced the standard mileage rates for 2010. These rates are used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.
Beginning on Jan. 1, 2010, the standard mileage rates for the use of a [...]
Joining a division of the United States military is a major life decision. Active members of the military face a lot of different challenges than the average American, including a specific set of tax laws, deductions, and credits. Luckily, much of the confusion surrounding military taxes is based on rumors [...]
Next week, the United States House of Representatives will vote on whether or not to extend the current estate tax rates or allow them to expire at the end of 2009. While members of Congress support the extension, the biggest roadblock will be getting legislation through the Senate, who will [...]
Job creation is still a hot topic amongst lawmakers, as legislators are desperate for a way to lower the ever-increasing unemployment rate. One of the methods proposed by Democrats in Congress is to create a new stock market tax to pay for job creation. The move could generate the Federal [...]
From Politico.com:
After months of listening to conservatives caterwaul over deficits and health care, senior House Democrats want a graduated surtax on individuals and corporations to pay for another big drain on the treasury: the Afghanistan war.
Three full committee chairmen — including the House’s top tax [...]
We all know that companies like Google, Intel, and Yahoo are revenue-making machines in the United States. However, you may be surprised to learn that immigrants started all of the aforementioned companies. Paul Kedrosky and Brad Feld recently published an opinion piece for the Wall Street Journal explaining how start-up [...]
This year, instead of giving gifts that your friends and family will only use a short time, David McPherson of ABC News.com is encouraging readers to give money-themed presents. These types of gifts can both encourage recipients to make smarter decisions about money, and some might even help lower [...]
On Monday, the Obama administration announced a few steps they are planning to take to pressure lending institutions. The Federal government could no longer ignore complains from taxpayers who still cannot find the long-term loan assistance they need. CNN Money.com published a great article explaining how the government plans to [...]
Bill Sizemore, Oregon's high-profile anti-tax activist and Republican candidate for governor, has been indicted on tax evasion charges that could send him to prison if convicted.
The Oregon Department of Justice said Monday that Sizemore and his wife, Cindy Sizemore, are each [...]
From TheHill.com:
A House bill still being drafted aims to raise $150 billion each year to pay for new jobs.
Under a bill being drafted by Democratic Reps. Peter DeFazio (Ore.) and Ed Perlmutter (Colo.), the sale and purchase of financial instruments such as stocks, options, [...]
Last Friday Lynnley Browning of NYTimes.com posted an article on Bradley C. Birkenfeld, and his chances of a billion dollar payout from the IRS. For those of you who might not be familiar, Birkenfeld was a private banker at the Swiss bank UBS. He divulged the tax evasion secrets [...]
From MercuryNews.com:
Gov. Arnold Schwarzenegger was having a feel-good Thanksgiving week, passing out turkeys in East Los Angeles and giving thanks for "the blessings of freedom and democracy."
But then came the heartburn.
A gossip Web site Friday morning revealed that the IRS filed [...]
Last week the Roni Deutch Tax Center – Tax Help Blog posted a season entry with holiday gift advice for employers and employees. Since there is so much confusion over presents and holiday bonuses from employers I wanted to make sure and share this informative article with my readers. [...]
Last week one of my favorite blogs, The Glass Hammer posted a very interesting article by Liz Cornish on how to thrive in today’s tough economy. You can check out a section of the entry below, or click here for the full text.
It’s been a tough [...]
The United States Senate voted last week to debate their health care bill, the Patient Protection and Affordable Care Act. However, their legislation is significantly different than the bill passed by the House of Representatives a few weeks ago. To help anyone curious about the differences between the two Democratic [...]
From the WallStreetJournal.com:
A few weeks ago, President Barack Obama signed legislation extending an $8,000 tax credit for first-time home buyers. The refundable tax credit, available even if a family has no taxable income, will enable many more buyers to close on a home. But it also [...]
According to an article on Bloomberg.com, the jobless rate rose in 29 of states across the country last month. California, Delaware, South Carolina and Florida were all among the list of states with record unemployment rates, while Michigan, Nevada, and Rhode Island had the highest jobless rates with 15.1%, [...]
From the Associated Press:
Schoolteacher Kinzi Blair makes only $46,000 a year, but she has what many would consider a "Cadillac" health plan, now targeted for a big tax increase by health reformers.
She has $10 co-pays and no deductible. She gets generic prescription drugs for [...]
Over the weekend, the United States Postal Service announced that it had lost $3.8 billion over the past fiscal year, which ended on September 30th. Their report claimed that they also delivered about 26 billion less pieces through the mail then they had the prior year, which translates to a [...]
From CNNMoney.com:
In a sign that more foreclosures could be on the horizon, 23% of people with mortgages owe more than their home is worth, according to a report released Tuesday.
Almost 10.7 million U.S. mortgages were "underwater" as of September, said research firm First [...]
Last Wednesday, the Senate Majority Leader Harry Reid and key Democratic leaders announced their highly anticipated health care reform bill, which has already been voted to the debate floor. For those of you who do not remember, the House of Representatives unveiled their plan a few weeks ago. The [...]
Check out the following new Ask the Tax Lady answers and feel free to ask me questions through one of the links below. You can send me an email, direct message or @ reply, and I will do my best to get an answer for you!
From Politico.com:
In an attempt to illustrate the real world consequences of reform's taxes, Senate Republicans are pointing out a provision that would tax the makers of swine flu vaccines and drugs. The provision raises $2.3 billion annually from drug makers who sell their products through government programs.
[...]
After voting to extend the homebuyers credit just a few weeks ago, Congress is already making plans to extend $37 billion in tax cuts for individuals and businesses in 2010. Leaders of the House of Representatives have been working on legislation and assert that they plan to pass the legislation [...]
Eric Dash, of the New York Times, posted a fascinating article on the pathology of a financial crisis. It includes information discovered by government investigators who are performing financial autopsies on over 100 banks that have collapsed in the United States. They have already looked at over 40 financial [...]
From Reuters.com:
Check Out home-related retailers Sears Holdings and Williams-Sonoma reporting better-than-expected quarterly results. Does this mean consumers are feathering their nests again?
Somewhat, according to Barclays analyst Michael Lasser, who said Williams-Sonoma’s results were “an indication that upper-income consumers are spending a bit more, [...]
At a small business finance forum in Washington, Timothy Geithner reminded small businesses that the credit crunch is not over yet and warned listeners not to get too far ahead of themselves. He went on to explain that while many big businesses are already seeing profits, small business owners still [...]
In a recent press release, the IRS announced their efforts to deliver $123.5 million in tax refunds to taxpayers who have not received them because of mailing errors. They also reminded taxpayers that the best way to avoid this problem is to e-file your return and have your refund [...]
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