Subscribe: Tax News
Added By: Feedage Forager Feedage Grade A rated
Language: English
days market  days  drop peak  income  irs  list price  median list  median  peak unemployment  price inventory  price  tax 
Rate this Feed
Rate this feedRate this feedRate this feedRate this feedRate this feed
Rate this feed 1 starRate this feed 2 starRate this feed 3 starRate this feed 4 starRate this feed 5 star

Comments (0)

Feed Details and Statistics Feed Statistics
Preview: Tax News

Forbes - Taxes

Forbes - Taxes

Copyright: Copyright 2016 Forbes LLC

TIGTA Presses IRS To Pursue High Income Nonfilers

Thu, 27 Oct 2016 09:05:00 -0400

Watchdog TIGTA says IRS is ignoring tax dodgers, foregoing billions in revenue.

Media Files:

The New Debt-Equity Regs Include A Bizarre Exercise In Litigation Risk Management

Wed, 26 Oct 2016 10:23:00 -0400

If you are friends with any corporate tax attorneys, kindly forgive them their grumpiness. They get a pass right now. That’s because the government recently dropped an abnormally dense set of income tax regulations on their desks – the ones dealing with debt recharacterization under Internal Revenue Code section 385.

Media Files:

World Series Tickets Are Costly, But Tax Write-Offs Can Help

Wed, 26 Oct 2016 09:10:00 -0400

Can you soften the blow of expensive World's Series tickets with a tax deduction?

Media Files:

Strip Club Owners Sentenced To Prison Based On IRS Undercover Operation

Wed, 26 Oct 2016 09:06:00 -0400

Keeping two sets of books can land a business owner in jail, as the owners of a strip club business learned the hard way.

Media Files:

How Presidential Elections Affect The Markets

Wed, 26 Oct 2016 07:35:00 -0400

Every four years, the citizens of the United States of America cast their vote for whom they think should lead our country. What might not be so obvious is how important of a role the economy plays in deciding which party will come out on top. Not everyone is affected [...]

Media Files:

Where Not To Die In 2017

Tue, 25 Oct 2016 16:46:00 -0400

Nine states are ushering in death tax changes for 2017, and they’re all changes that lessen the tax bite.

Media Files:

IRS Announces 2017 Tax Rates, Standard Deductions, Exemption Amounts And More

Tue, 25 Oct 2016 16:39:00 -0400

The Internal Revenue Service (IRS) has announced the updated numbers for 2017. You'll find the 2017 tax rates, standard deductions, personal exemptions, and more here.

Media Files:

Yes, Tax Laws Should Be Fairly And Equitably Applied

Tue, 25 Oct 2016 10:57:00 -0400

Harsh words for the state commissioner of revenue from the Minnesota Tax Court in a recent opinion involving utility assessments. The case, CenterPoint Energy Resources Corp. v. Commissioner of Revenue, stemmed from CenterPoint’s appeal of the commissioner’s valuation of its gas transmission pipeline as a single economic unit.

Media Files:

Establishing Your Retirement Number: It's Just NOT That Simple

Tue, 25 Oct 2016 10:24:00 -0400

Our introductory meeting had gone on for about twenty minutes when Gary interjected. "Look, I don't want to get all complicated. I just want to know how much we need in order to retire. Bottom line! I don't want a list of things to do that will complicate my life. If [...]

Media Files:

How Millennials Should Think About Social Security (And Yes, Millennials Should Think About It)

Tue, 25 Oct 2016 10:06:00 -0400

(AP Photo/Bradley C. Bower, File) Oh the irony. For all the talk about economic insecurity during the presidential campaign, there’s been too little discussionfocused onSocial Security. That’s pretty incredible given that it is the most important financial safety net in American society and plays a role in the fiscal life of [...]

Media Files:

Law Professor Calls Trump's Tax Losses Fake

Tue, 25 Oct 2016 01:47:00 -0400

The tax geek crowd is really ganging up on Donald Trump for his over $900 million loss in 1995. Professor Calvin Johnson of University of Texas at Austin Law School has weighed in with "Were Trump's Fake Losses Legal as Tax Deductions? (download). Fake deductions! That is pretty harsh. Practically locker room talk.

Media Files:

Obamacare Is Draining Our Financial Reserves

Mon, 24 Oct 2016 16:00:00 -0400

Democratic presidential nominee Hillary Clinton addresses a campaign event, October 22, 2016 at Taylor Allderdice High School in Pittsburgh, Pennsylvania. / AFP / Robyn BECK (Photo credit should read ROBYN BECK/AFP/Getty Images) Barack Obama will stop being president on January 20. He will leave behind the signature accomplishment of his eight [...]

Media Files:

IRS Announces Relaxed Retirement Plan Rules For Victims Of Hurricane Matthew

Mon, 24 Oct 2016 10:46:00 -0400

The Internal Revenue Service (IRS) has announced that 401(k)s and similar employer-sponsored retirement plans, including 403(b) and 457(b) plans, can make loans and hardship distributions to victims of Hurricane Matthew and members of their families.

Media Files:

Ask Larry: Will Early Spousal Reduce My Wife's Retirement Benefit?

Mon, 24 Oct 2016 10:29:00 -0400

Today’s column examines the effects of claiming early reduced spousal benefits, benefits for singles, the feasibility of divorcing to increase benefits and filing for widow's benefits based on a previous spouse's record.

Media Files:

British Brexit Corporate Tax Cut Would Make Things Only Worse

Mon, 24 Oct 2016 10:03:00 -0400

The Sunday Times reported that the British government could halve the corporate tax rate to 10 per cent in case the EU would not be lenient enough in the pending Brexit negotiations. That would be foolish and costly.

Media Files:

IRS Offshore Account Collections Top $10 Billion, FATCA Hunt Continues

Mon, 24 Oct 2016 08:41:00 -0400

IRS has collected over $10 billion in taxes and penalties from Americans with offshore accounts, and FATCA disclosure pain is only beginning. As over 100,000 Americans have come into IRS compliance, are you safe?

Media Files:

Paul Ryan Could Be Ousted In 4 Weeks, Lame Duck Would Be In Chaos

Sun, 23 Oct 2016 08:00:00 -0400

I may have been way too optimistic a week ago when I posted that it was “hard to come up with a realistic scenario that ends with Paul Ryan (R-WI) as speaker of the House of Representatives in the next Congress.” Never mind the next Congress: It now looks like Ryan [...]

Media Files:

Ask Larry: Should I Collect Spousal If My Wife Has Already Filed?

Fri, 21 Oct 2016 15:33:00 -0400

Today’s column examines filing for spousal benefits, how benefit amounts are determined, eligibility for and the amount of disability benefits, sources of help when making filing decisions and a private pension question.

Media Files:

I Said I Wouldn't But I Did: I Bought A House

Thu, 20 Oct 2016 19:57:00 -0400

I bought a house today. Yes, after I said I hoped never to buy a house again. Here's why I did it and why my advice about homebuying and taxes, as well as renting, still hasn't changed.

Media Files:

10 Best Cities To Invest In A HomeIntroduction1. Tucson, AZ2. Austin, TX3. Kansas City, MO4. Baltimore, MD5. Fort Worth, TX6. Salt Lake City UT7. San Jose, CA8. Raleigh, NC9. Milwaukee, WI10. St. Louis, MO

Thu, 20 Oct 2016 19:57:00 -0400

To determine the best places to invest in real estate right now, created a list which sorted through February housing and jobs data for 146 Metropolitan Areas (cities and their neighboring suburbs) across the U.S. The company looked at listing price data, sales data and inventory trends such as the amount of homes available in each market and number of days on market. also utilized the peak-to-trough home price index from Fiserv Case-Shiller, which tracks how much home prices have fallen in the past five years and unemployment rates from the Bureau of Labor Statistics, since jobs (or lack thereof) are a leading indicator of housing demand.

Median List Price: $170,000 (up 3% y-o-y)

Inventory Level: 6,600 homes for sale (down 23% y-o-y)

Median Days On Market: 86 (down 12% y-o-y)

Price Drop From Peak:45.1%

Unemployment Rate: 7.8%

Median List Price: $229,500 (up 12% y-o-y)

Inventory Level: 8,329 homes for sale (down 19% y-o-y)

Median Days On Market: 77 (down 21% y-o-y)

Price Drop From Peak:2.9%

Unemployment Rate: 6.1%

Median List Price: $134,150 (up 0.3% y-o-y)

Inventory Level: 7,539 homes (down 21% y-o-y)

Median Days On Market: 103 days (down 15% y-o-y)

Price Drop From Peak:8.8%

Unemployment Rate: 7.7%

Median List Price: $239,500 (down 3% y-o-y)

Inventory Level: 13,053 homes (down 25.5% y-o-y)

Median Days On Market: 120 days (down 4% y-o-y)

Price Drop From Peak: 22.3%

Unemployment Rate: 7.5%

Median List Price: $160,000 (up 8% y-o-y)

Inventory Level: 8,242 homes (down 26.5% y-o-y)

Median Days On Market: 79 days (down 19% y-o-y)

Price Drop From Peak:4.7%

Unemployment Rate: 7.1%

Median List Price: $195,000 (up 5.5% y-o-y)

Inventory Level: 6,743 homes (down 31% y-o-y)

Median Days On Market: 90 days (down 13% y-o-y)

Price Drop From Peak:19.4%

Unemployment Rate: 5.9%

Median List Price: $468,888 (up 8% y-o-y)

Inventory Level: 3,957 homes (down 34% y-o-y)

Median Days On Market: 56 days (down 27% y-o-y)

Price Drop From Peak:32.5%

Unemployment Rate: 9.1%

Getting the Super Rich to Pay Taxes

Thu, 20 Oct 2016 17:51:00 -0400

The fact that someone as rich as Donald Trump can pay no taxes is news to many. It’s not news to the super rich. The super rich have a standard way to avoid the taxman that doesn’t require losing a billion in real estate. They simply don’t declare any income. Instead, [...]

Trump Had A Point About His Own Taxes In The Debate

Thu, 20 Oct 2016 17:43:00 -0400

A highly leveraged real estate operator, who manages to keep upping the ante, might not have much in the way of realized income, while building substantial net worth from unrealized appreciation. The key element is not so much the depreciation deduction as it is the unrealized appreciation which will allow you to keep refinancing and buying more property. This road to wealth is pretty wide open, as you might learn from watching late night TV or maybe from attending Trump University. The thing is the no money down art of the deal type of courses downplay the amount of work involved. And the risk. A really smart guy I know once observed "Leverage makes whatever is going to happen, happen faster."

Media Files:

New To U.S., Funder Commits More Than $1.5M To Class Action Against Chevron

Thu, 20 Oct 2016 09:57:00 -0400

A litigation funding company that launched in the U.S. only six months ago has been identified as the third-party funder in a proposed class action brought against Chevron Corp. over a gas explosion off the coast of Nigeria. According to a copy of the litigation funding agreement, found buried among other [...]

To Fight California Tax Bills, Procedure Counts

Thu, 20 Oct 2016 09:06:00 -0400

California's high taxes and aggressive tax enforcement are legendary. But tax disputes in California can have a few silver linings.

Media Files:

How Much Do Public Companies Pay In Income Taxes?

Thu, 20 Oct 2016 08:50:00 -0400

Facebook Provision 40.3% - Paid 4.4% Facebook reported $6.2 billion in pretax income and an "income tax expense" of $2.5 billion - 40.3%. It actually paid $273 million - 4.4%. The dramatic spread between the provision and the amount paid is the tax effect of stock compensation of $1.7 billion that does not run through the income statement. Facebook has $2.7 billion in federal net operating loss carryovers. I think that it is likely that Facebook, at least since it went public, has never actually paid any federal income tax, in spite of substantial provisions. Facebook provides the best case for "income tax expense"being "a made up number". In a case like this "income tax expense" really has almost nothing to do with what might actually be paid, ever.

Media Files:

Trump/Clinton Debate Made It Clear There Is No Budget Big Deal Ahead

Thu, 20 Oct 2016 08:07:00 -0400

I'll leave it to other observers to comment on Donald Trump's statement about not automatically accepting the election results, Hillary Clinton's defense of the Clinton Foundation and all of the discussions about trade, ISIS and Aleppo. I want to talk about the budget aspects of the debate, which were very limited but nonetheless instructive.

Media Files:

Live Blog, Fact Checked: The Third 2016 Presidential Debate (October 19, 2016)

Wed, 19 Oct 2016 20:06:00 -0400

Welcome to our live coverage of the October 19, 2016, presidential debate. This debate is the third and final debate of the current election season.

Media Files:

Ask Larry: Should My Wife File Just For Spousal Benefits At Full Retirement Age?

Wed, 19 Oct 2016 15:24:00 -0400

Today’s column examines eligibility and filing options for spousal benefits, disability benefits, foreign pensions and eligibility for divorced spousal benefits after a court ordered name change.

Media Files: