Capital Gains and Losses – The
Reporting capital gains and losses can be a little tricky,
depending on what type of property you have sold, how long you kept it, and
whether or not you received all of the proceeds in the year of sale or not.
Taxes Have to Go Up – The
New York Times: Opinion Pages
Democrats and Republicans remain at odds on how to avoid a
round of budget cuts so deep and arbitrary that to allow them now could push
the economy back into recession. The cuts, known as a sequester, will kick in
March 1 unless Republicans agree to President Obama’s demand to a legislative
package that combines spending reductions and tax increases. As of Thursday,
with the deadline a week off, Republicans seemed determined to say no to any
new tax increases.
Weird New Taxes You Might Have to Pay (If You’re Not Already) – Time: Business and Money
Why is it that government officials seem inspired to reach
the heights of creativity coming up with new taxes? Who knows. But their
efforts could mean you’ll be paying new taxes on everything from bicycles to
bowling, 2-by-4s to marijuana.
Here’s a selection of six curious new taxes—some already in
effect, others merely at the proposal stage:
Tax Whacks Spending - WSJ
Wal-Mart Stores Inc. on Thursday joined a parade of
retailers, restaurants and consumer-goods companies worried about the economic
impact of the recently restored federal payroll tax that has left Americans
with less money to spend.
The world's largest retailer, Burger King Worldwide Inc.,
Kraft Foods Group Inc. and others are lowering forecasts and adjusting sales
and marketing strategies, expecting consumers with smaller paychecks to dine
out less and trade down to less expensive purchases.
The expiration of the payroll tax cuts that knocked 2% off
consumers' take-home pay is having an impact, these companies say. It will ding
a household ...
Travails of Cutting State Taxes - NPR
Income tax cuts are all the rage this winter among
Republican governors. There are no fewer than 10 of them proposing significant
reductions in their states' income tax rates. In fact, governors of neighboring
states seem to be trying to one-up each other with tax cut proposals, urging
businesses to move across the border.
Cut Corporate Taxes to Bring Business Back - Orange
Henry Ford said, "Competition improves the breed."
Well, the benefits of competition extend to cities, counties, states and
countries. Look at the brewing "tax war" to attract corporations and
the jobs they create.
Since 2008, Great Britain has cut its top corporate tax rate
to 21 percent from 28 percent. The corporate tax is applied to companies'