Pass Through Businesses Complicate Corporate Tax Reform

corporate tax reformI have a business. It’s registered as a Limited Liability Company (LLC), and is considered a “pass-through” business. This means that my LLC doesn’t pay taxes in the corporate system. Instead, the profits pass through the business and are reported on the joint tax return filed by my […]

January 28th, 2015|Uncategorized|0 Comments

Gas Tax Tied to Prices Cause Revenue Problems

gas-revenues-fall-with-gas-priceStates 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 […]

January 19th, 2015|Uncategorized|0 Comments

Road Usage Tax to Replace Gas Tax

states consider road use taxesWhile 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.

With fewer cars using gasoline, and with cars getting better gas mileage in general, […]

December 11th, 2014|Uncategorized|0 Comments

The Battle for Tax Break Extensions

tax breaks and extensionsIt’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 […]

December 3rd, 2014|Uncategorized|0 Comments

2015 Federal Tax Brackets Released by the IRS

2015 Federal Tax BracketsIt’s a busy time of year for the IRS. This is usually when the IRS releases information about tax brackets, as well as changes to retirement account contributions, as well as what constitutes the standard deduction.

The IRS has released its new brackets for 2015, which […]

November 3rd, 2014|Uncategorized|0 Comments