Seminars teach ins and outs
Wed, 18 Jan 2012 22:05:50 -0800

Don't get caught blindsided by the taxes which will be due. Learn which payments are subject to ordinary income taxes versus capital gain; about the percentage depletion deduction ; and how signing a lease may affect your CAUV status. ...

Tesoro refining and marketing company v. STATE
Fri, 13 Jan 2012 04:55:08 -0800

We hold that the plain language of RCW 82.04.433(1) created for " sales of fuel" indicates that the B&O tax deduction applies only to B&O taxes on wholesale and retail sales , not on manufacturing. As our holding rests on statutory grounds, ...

Tax Literacy 202
Tue, 27 Dec 2011 15:23:45 -0800

The deduction for up to $4000 of qualified higher education expenses ($2000 at higher income levels). This break expires at the end of 2011. The option to claim an itemized deduction for state and local general sales taxes instead of state and local ...

Seven Year-End Tips to Reduce 2011 Taxes
Thu, 29 Dec 2011 14:48:36 -0800

Taxpayers who itemize deductions can take a deduction for sales taxes paid or for state income taxes paid, but since most Tennessee residents don't pay state income tax, the sales tax deduction is usually more beneficial for tax filers in the Volunteer ...

Wichita Realtors, builders oppose end to mortgage tax deduction
Tue, 17 Jan 2012 04:32:57 -0800

The deduction elimination comes at a time when analysts think new home starts have bottomed out in the Wichita area, and existing home sales are primed to recover. John Mc Kenzie, president of Wichita's Coldwell Banker Plaza Real Estate, ...

New Evidence from Japan Shows Why Romney's Interest in a Value-Added Tax Is So ...
Mon, 16 Jan 2012 14:22:40 -0800

Noda reshuffled his cabinet last week, aiming to win support for doubling Japan's 5 percent national sales tax by 2015 Japan's finances are getting worse and worse every day, every second, Takahira Ogawa, Singapore-based director of sovereign ...

Retain excise duty at current level: ASSOCHAM
Fri, 13 Jan 2012 00:23:13 -0800

Central sales tax (CST) rate must be cut from 2 per cent to 1 per cent to accelerate implementation of the Goods and Services Tax (GST) which is likely to push the country's economic growth by 1.4 per cent to 1.6 per cent and might add Rs.1.50-lakh ...

Tax Benefits From Options as Windfall for Businesses
Thu, 29 Dec 2011 20:03:44 -0800

Now, the corporations that gave those generous awards are beginning to benefit, too, in the form of tax savings. Thanks to a quirk in tax law, companies can claim a tax deduction in future years that is much bigger than the value of the stock options ...

Extension of sales tax deduction caught up in political fight
Fri, 06 Jan 2012 22:14:20 -0800

Late last year, lawmakers were on track to extend the sales tax benefit for another year. But partisan wrangling over how to pay for extending a payroll tax cut delayed renewal of the sales tax deduction and other generally popular tax breaks. ...

Changes impact taxes , this year's refund
Wed, 04 Jan 2012 11:35:52 -0800

This will be the last year to claim the following breaks: Tuition and Fees Deduction , Nonbusiness Energy Credit, refundable Adoption Credit, Educator Expense Deduction , an option for those with itemized deductions to deduct state and local sales taxes ...

What the payroll tax deal will do
Fri, 23 Dec 2011 07:41:12 -0800

Left out was any action on a host of other "temporary" tax breaks that expire this year. These include the research and development credit for businesses and a state and local sales tax deduction for individuals. Also left out was the usual fix to ...

Top 5 Ways to Cut Your 2011 Taxes Now
Tue, 27 Dec 2011 09:35:41 -0800

31, so that you can get the interest tax deduction in 2011 instead of 2012, Hobson said. Second, if you are considering making a home improvement related to energy efficiency, complete the project before Dec. 31 so that you are eligible for the tax ...

More housing market stability, optimism seen
Tue, 17 Jan 2012 13:04:14 -0800

Being that close without the tax credit I think is a good sign, she says. Consumer confidence, Hultz says. Real estate agents and builders are not excited by the governor's proposal to eliminate the mortgage interest deduction , she says, ...

Baird is back, as lobbyist
Tue, 03 Jan 2012 20:44:35 -0800

Edmonds something is different this year as Washington, DC, engages in a perennial rite, the haggling over a sales tax deduction that benefits Washington state taxpayers. Key proponent of the tax break, Brian Baird, isn't in Congress to fight for ...

The Road Ahead for Taxes
Fri, 06 Jan 2012 14:51:23 -0800

IRA owners 701 2 or older were able to donate up to $1000 of assets per year to a tax -exempt charity. Under this provision, there's no deduction , but the payout doesn't increase adjusted gross income in a way that could trigger higher taxes on Social ...

Gov. Brownback seeks 16 percent tax hike
Tue, 17 Jan 2012 13:28:25 -0800

For example, if one accepts the current premise that allowing the built-in expiration of the "Bush tax cuts" constitutes raising taxes , then it follows that failing to honor the built-in demise of the one-cent sales tax increase qualifies as a tax hike ...

How to reap tax savings for selling your products abroad
Sat, 31 Dec 2011 16:09:51 -0800

The IC-DISC is paid a commission on foreign sales by the manufacturer, and the manufacturer can take a deduction for the commission payment. This deduction normally generates a tax benefit of 35 percent to the manufacturer. The IC-DISC itself is a tax ...

IRS encourages taxpayers to e-file
Tue, 17 Jan 2012 23:05:35 -0800

Maureen Scott, a certified public accountant at Horne LLP in Ridgeland, said some major tax provisions expired at the end of 2011. The optional sales tax deduction , the educator expense deduction, the tuition and fees deduction, the energy efficient ...

Companies that pay no federal income tax on the rise
Tue, 10 Jan 2012 08:25:41 -0800

Most of those receiving these dividends are paying at least 28% and many pay 33% or higher in federal taxes not to mention any state taxes . They also pay taxes again in sales tax when they spend this money so someone receiving this type of income who ...

Donors swing by Goodwill to get last-minute tax deduction
Sun, 01 Jan 2012 12:40:06 -0800

... said Margie Brown, lead sales associate. "For the past four days, it has been non-stop," she said. The Goodwill Donation Centers in York County stayed open until 7 pm on New Year's Eve so people could get that last-minute tax deduction . ...