How to Fix an Ailing Social Security Program

August 11th, 2015 at 12:43 pm — By admin

When President Franklin D. Roosevelt created the Social Security program with the 1935 Social Security Act he revolutionized the way Americans would live for decades to come. While social security has served the American populace well, the system can no longer sustain itself long enough to provide the same benefits for the future generations of… Continue reading

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Does The Tax Code Favor The Rich?

August 4th, 2015 at 2:06 pm — By admin

Where the federal government is concerned, taxing the public is pretty much equivalent to federal spending. Don’t get lost in the legal language associated with taxing—tax credits, tax deductions, exemptions, and exclusions are colorful words that describe adding money to bank accounts, not subtracting money from them. In 2013, the Corporation for Enterprise Development conducted… Continue reading

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After Documentary, Scientology’s Tax-Exempt Earnings Attracting Attention

August 3rd, 2015 at 1:46 pm — By admin

The Church of Scientology is getting a lot of attention these days thanks to “Going Clear”, HBO’s recent documentary on Scientology and a number of its practices. One aspect of Scientology which is receiving even more attention than before is the church’s tax-exempt status. Part of the controversy extends to how the Church of Scientology… Continue reading

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Which States Are Tax-Friendliest?

July 16th, 2015 at 2:15 pm — By admin

If you’re willing to relocate, you can save quite a bit of money on taxes. By shopping around from state to state, you can save significant amounts on your bill for business or personal taxes. According to Entrepreneur, individuals can save 10% to 30% simply by moving. States and municipalities set widely different tax rates… Continue reading

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Wondering What to Do with Your Tax Refund? Invest It!

June 3rd, 2015 at 3:48 pm — By admin

As the tax filing deadline of April 15th has come and gone, many of us are giving big sighs of relief that it’s all over—at least for now. If you were lucky enough to get some money back this tax season, you’re probably wondering what to do with it. Shopping spree? Vacation? While those ideas… Continue reading

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Native American Tribes, with Tax-Free Advantage in Mind, Consider the Recreational Marijuana Industry

June 2nd, 2015 at 1:40 pm — By admin

With growth from the gaming industry leveling off in most locations, many Native American tribes are now considering a brand new source of income in states where marijuana has been legalized, either medically and recreationally. As more and more states–including New York–legalize marijuana in one form or another, Native Americans will have a huge advantage over… Continue reading

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What NOT to Do on Your Taxes

May 7th, 2015 at 11:28 am — By admin

Filing taxes is a painstaking process for almost everyone and every year, without fail, many returns full of mistakes are sent in to the IRS. In fact, mistakes are extremely common on tax returns, with an error rate of 50 percent; on self-prepared returns, according to the Government Accountability Office. There is a near-infinite number of… Continue reading

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What Same-Sex Couples Need to Know About Filing Their Taxes

April 28th, 2015 at 10:48 am — By admin

When the Defense of Marriage Act (DOMA) was ruled unconstitutional by the Supreme Court in 2013, the U.S. government was compelled to recognize at the federal level same-sex marriages from any state where they’ve already been legalized. Nevertheless, no matter if you live in a state where same-sex marriage is recognized, partially recognized, or illegal,… Continue reading

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Which States Are Toughest on the Average American Taxpayer?

April 14th, 2015 at 3:19 pm — By admin

Let’s face it: income inequality exists. However, local and state taxes have a big role to play in the redistribution of wealth. Some states have less stringent tax policies than other states—a relief to many taxpayers who would otherwise have to tithe their income to Uncle Sam. However, many state tax systems are considered regressive,… Continue reading

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Tax Records You Should Keep – And the Ones You Can Toss

April 14th, 2015 at 3:06 pm — By admin

The filing deadline for 2014 tax returns is April 15, 2015. Because the Internal Revenue Service (IRS) can audit tax returns for up to three years after the tax filing deadline, you should plan to keep your tax returns from 2012, 2013, and 2014 after this year’s tax filing deadline. In most cases, you can… Continue reading

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