One of the realities of our tax system is that reporting is largely voluntary. You are required by law to pay taxes, but, for the most part, the system relies on the fact that you are honest in your reporting. You voluntary report your income, and […]
Right now, there is a debate raging over whether or not severance pay should be subject to FICA taxes. It’s a tough call because it all depends on whether or not severance pay is considered wages, and whether or not the pay is for […]
One of the debates that rages around taxes is whether it’s right for some people to do their best to avoid paying taxes if they can. Just because it’s legal to avoid paying taxes in some cases doesn’t mean that it is right.
The Wealthy […]
One of the more popular tax deductions available is the mortgage interest tax deduction. With this tax deduction, you can reduce your income with the help of the interest that you pay on your mortgage — as long as you itemize.
The problem some people see, though, is the fact that […]
During tax season, many of us complain about the current system. Now, you have the chance to do more than just tell your friends and family how frustrated you are. Congress is tackling tax reform and asking for your suggestions.