Even Congress, when faced with the opportunity to fund the massive federal health reform effort with a soda sin tax, took the wiser route and left the tax out of the final law.
There's no Roth IRA conversion tax advantage from buying leveraged life settlements that couldn't be gained simply by paying the conversion tax out of other assets or by taking out a loan just for the tax bill.
Figuring out sales tax and filling out all the sales tax returns was, as you might expect, complicated and exhausting.
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Even when gift and estate taxes carry the same nominal tax rate, paying the gift tax works out to be cheaper than paying the estate tax.
The technique described in the article enables you to avoid that by moving the pre-tax money out of your IRA but leaving the after-tax money (which you will then roll into the Roth).
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That caused the folks who had been using high, probably inflated, vacation type homes, think timesharing, as loss generators for reductions of taxes owed were suddenly out of luck and had to move what turned out to be billions and billions invested in these tax shelters out of those and into other productive investments.
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To find out how the new tax will affect you, check out the Tax Policy Center's free online tool at calculator.taxpolicycenter.org.
To find out how this tax exam turned out, head to my blog.
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We're also doing away with the unnecessary giveaways that have thrown our tax code out of balance.
You now have a taste of the downside to this tax shelter: It makes filling out tax returns horrific.
And higher gas prices are like a tax straight out of your paycheck.
Extract the most you can at tax time out of your charitable impulses.
Last year, Tennessee Gov. Bill Haslam signed into law legislation repealing the state gift tax and phasing out the state estate tax.
Mitt Romney could leave assets to a granddaughter and have her getting a tax shelter out of them 80 years from now.
Top lawmakers talked of pulling the income-tax system out by its roots.
The luxury tax wiped out jobs and nearly killed the domestic yacht industry and hurt the others, so Congress quickly repealed it.
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For those who pass away this year, the tax tops out at 35% for those with the highest level of assets, like Davis.
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During his lecture, he notes that the U.S. tried to spend and tax itself out of the Great Recession and amassed a great debt.
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And yes, it means that wage earners who are paying their fair share are ponying up more to compensate for the tax cheats out there.
Some folks have no choice but to drive a long way to work, and high gas prices are like a tax straight out of their paychecks.
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And some folks have no choice but to drive a long way to work, and high gas prices are like a tax straight out of your paycheck.
With Medicaid and education consuming much of states' budgets, and tax hikes out of fashion, legislators haven't had much money for new programs but want to do something.
"Tobacco Pays My Bills, " "It's my job, " and "Don't Tax Me Out of My Job" were the slogans on some of the placards lining the road into Carrolton.
The bills primarily differ in what a state would have to do to be allowed to collect sales tax from out-of-state vendors and the size of the de minimus rule to exempt small vendors from collection.
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We are now willing to buy safe bonds that pay above our expected rate of inflation (after tax) out to 7-10 year maturities rather than the 3-5 year target we have maintained for the past two years.
Some states are passing laws requiring collection of sales tax by out-of-state entities that have in-state affiliates. (That's the plan in New York, Illinois, Rhode Island and North Carolina.) Amazon has cut ties to affiliates in most affected states.
Even if by some miracle a carbon tax starts out revenue neutral, this almost certainly would be the setup for a bait-and-switch in which future Congresses keep or increase the carbon tax and decrease or rescind cuts in other taxes.
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"If reports that the government is set to reject proposals for a graduate tax turn out to be true, that is good news for the UK's status as a world leader in higher education, " said Wendy Piatt, the Russell Group's director general.
If SUVs are bad and wind power is good, then we must levy a tax on gas-guzzlers and hand out tax credits for windmills.
Precisely because they are the only entity choice that allows appreciated property to not only go in tax-free, but also come out tax free.
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