Deciding Whether and How to File? Here’s What to Remember As people prepare to file their taxes, there are things to consider. They will want to determine if they need to file and the best way to do so. Here are three things for people to keep in mind as they prepare to … [Read more...] about IRS Tax Tip 2018-07: Deciding When and How to File?
Governor Cuomo has come out blasting the new tax law, and in particular the substantial reduction in the deduction for State and Local Taxes (“SALT”), as unconstitutional and an “attack only on blue states.” But everybody who has any knowledge of taxation and its … [Read more...] about Governor Cuomo: Clueless or Dangerous?
I am very glad the new Tax Cuts and Job Act is now law. With ongoing work reforming and reducing regulations, the tax bill will spur economic growth, and get people to understand the importance of reducing marginal rates. On the corporate side, the huge rate reduction (from 35% … [Read more...] about The New Tax Law: Politics Over Reform
The House Ways and Means Committee & Senate Finance Committee has published a memo with highlights from the current form of the tax cuts bill that will be voted on right before Christmas. To read the memo, you can go here: The Tax Cuts and Jobs Act (H.R. 1) overhauls … [Read more...] about Tax Cuts and Jobs Act Policy Highlights
Everyone talks about how true reform of our tax laws should have three goals: 1) equitable; 2) efficient; and 3) simpler. In doing that, many have argued for removing the individual mandate, but at the same time have left in things like charitable deductions, SALT, and the … [Read more...] about Rules for the Tax Plan