One of the features of the Patient Protection and Affordable Care Act (PPACA, also called Obamacare) passed in 2010 is the application of subsidies for those who need help paying insurance premiums. For those who need to purchase health insurance on an exchange, subsidies can help reduce the amount paid for premiums.
States try many schemes when it comes to raising revenue through taxes. Back when it seemed as though oil prices would keep rising -- and bring gas prices up with them -- some states decided to tie gas taxes to price. Kentucky is a state that ties gas taxes to the price of gas, and as oil and gas prices fall, Kentucky is starting to feel the pinch.
When we think of taxes, often we focus on federal income taxes. However, the reality is that state and local taxes are likely to have an impact as well. And, even though there is much made of people who don’t pay federal income tax, the reality is that these low wage earners are often hit by local taxes.
The number of states legalizing marijuana for different purposes is on the rise. There are states that allow marijuana use for medical purposes, and some even allow it for recreational purposes. However, many states charge a great deal in taxes. On top of that, the fact that marijuana still isn't legal on a federal level causes its own problems.
For many years, I prepared and filed my own taxes. I've only been paying someone else to take care of my taxes since tax year 2007. In many cases, there is no reason to pay someone else to handle your taxes if the situation is relatively simple and you can handle the paperwork on your own.
While environmentalists and others probably applaud the increasing numbers of hybrid and electric vehicles on the roads, some states are finding a new problem with these types of cars: falling revenue.
It’s become an annual ritual for Congress: At the end of the year, lawmakers wrangle over which tax breaks to make permanent, which to renew, and which to let expire. Very rarely do tax breaks become permanent; instead, much time is devoted to arguing over which tax breaks are worth keeping, and which should be allowed to come to an end.
One of the issues acknowledged when it comes to low- and moderate-income workers is the fact that it can be difficult to set aside money for the future. In order to help encourage workers to set aside money for retirement, the government offers a saver’s tax credit.
One of the more interesting things to follow is to see what people are willing to pay for through taxes.
Many people think that taxes comprise their federal income taxes and state taxes. Others remember that they pay sales taxes as well. However, the vast majority of consumers probably don’t think about the other taxes that they are paying on a regular basis. Among those taxes are those charged as part of your wireless bill.
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