No Cost of Living Change for Social Security Benefits for 2016

sociaRecently, the Social Security Administration announced that there will be no cost of living increase for monthly Social Security income. Normally, when the cost of living goes up, Social Security recipients see an automatic increase in how much they receive each month. However, thanks to the fact that the government’s measure of inflation for this purpose shows now […]

October 20th, 2015|Tax News|0 Comments

Could the Supreme Court’s Same-Sex Ruling Impact Schools’ Tax Status?

supreme court same sex ruling and schoolsOne of the issues dominating tax and politics in recent years is same-sex marriage. For the last couple of years, issues related to same-sex marriage have been before the U.S. Supreme Court. Among the biggest changes in recent years was when the Supreme Court struck down the part of the Defense […]

August 26th, 2015|Tax News|0 Comments

Tax Transcript Breach and Your Identity

irs security breach identity theftNot too long ago, the IRS released information that tax transcripts had been breached using the “Get Transcript” application. In relative terms, the breach is somewhat small, with approximately 100,000 successful attempts to get access to tax transcripts and another about 100,000 unsuccessful attempts.

June 26th, 2015|Tax News|0 Comments

Obama’s 2016 Budget: $280 Billion in Tax Cuts for Some Americans

2016 obama blog post articlePresident Obama has revealed his proposed budget, and it includes close to $280 billion in tax cuts for families with low to middle incomes. The tax cuts for those income brackets would be paid for with about $1.5 trillion in new taxes over the […]

February 3rd, 2015|Tax News|0 Comments

Poorest Pay Higher Percentage of Income in Local Taxes than Top 1%

low wage earners pay more in local taxesWhen 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 […]

January 14th, 2015|Tax News, Tax Tips|0 Comments