Archive for the
‘Taxation’ Category

The 1% In Various Countries

February 13, 2019

Bob Veres

Lifestyle, Money, News, People, Taxation

0

Rich or Comfortable? What would you have to make to be a one-percenter—that is, to have an income in the upper one percent of the population—in the U.S., Singapore, China, Brazil, England or Australia?   The answer, of course, differs in every country. At the bottom of the scale, someone earning $81,000 a year in […]

Tax Opportunities Before Year-End

November 15, 2018

Bob Veres

Lifestyle, Money, News, Tax, Taxation

0

      Tax Opportunities Before Year-End Every year, U.S. taxpayers face a number of year-end deadlines which, if ignored, can be costly and even punitive. In the latter category, consider people over age 70 1/2 who forget to take the full required minimum distribution from their IRA or 401(k). If they get the calculation wrong, or […]

Withholding Tempest in a Teapot

September 19, 2018

Bob Veres

Tax, Taxation

0

Withholding Tempest in a Teapot Chances are, you’ve read an article recently telling you to be careful about the withholding in your paycheck, to make sure your employer (assuming you have one) is taking out enough money so that you won’t have a big tax obligation come April.  This is the result of a big […]

No End Run

August 27, 2018

Bob Veres

Tax, Taxation

0

No End Run By now, you probably know all about the so-called SALT (state and local tax) deduction limitations imposed by the Tax Cuts and Jobs Act.  If your property, local and state taxes exceed $10,000 (couples) or $5,000 (singles), well, too bad.  That’s all you can deduct on your federal tax returns. Some of […]

Charitable Contribution Rules: 10 Years in the Making

August 27, 2018

Bob Veres

Lifestyle, Money, Taxation

0

Charitable Contribution Rules: 10 Years in the Making Ten years ago, the Internal Revenue Service proposed regulations that would define how to value (and prove the actual value) of non-cash donations to charity.  The regs involved things like artwork, jewelry and other possessions whose value is often in the eye of the beholder. Now, a […]

Goodbye Marriage Penalty—Almost

August 16, 2018

Bob Veres

Lifestyle, Taxation

0

Goodbye Marriage Penalty—Almost One of the unexpected gifts from the Tax Cuts and Jobs Act of 2017 was the virtual elimination of the so-called “marriage penalty.” But at the same time, the new tax regime imposes a new “stealth” marriage penalty which will show up for taxpayers in higher-tax states. The marriage penalty is roughly […]

New Tax Considerations for Divorcing Couples

July 30, 2018

Bob Veres

People, Taxation

0

New Tax Considerations for Divorcing Couples People who are contemplating divorce could be surprised by some provisions of the new tax law—and should be including it in their separation plans.  The new laws affect the taxation of alimony payments, and also the valuation of certain assets that are usually part of a divorce agreement. In […]

States vs. SALT

June 18, 2018

Bob Veres

Tax, Taxation

0

States vs. SALT Each year, thousands of professionals use their creativity and ingenuity to try to figure out the best ways to lower your federal taxes.  You know you’re living in interesting times when state lawmakers join that crowd. The reason they’re working so hard is something popularly known as the SALT provisions of the […]

Reclaiming Charitable Deductions

June 18, 2018

Bob Veres

Money, Tax, Taxation

0

Reclaiming Charitable Deductions You may remember that when the new tax law was debated, there was a lot of chatter around the possibility that Congress would totally eliminate the deduction for charitable contributions.  That Republican-backed proposal never made it into the final Tax Cuts + Jobs Act, but in other ways the tax changes may […]

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