When tax time rolls around, having all of your documents ready to go can eliminate some of the stress of filing. Keeping up with receipts throughout the year can be a hassle but a handful of apps are making it easier for taxpayers to stay organized. Instead of wading through stacks of paper or maintaining [...]

Just last week in the media we are hearing that the White House and non-profits are in an intense debate over the future of the charitable tax deduction, which about 40 million taxpayers claim each year, according to reports from the IRS. And so the story goes that Obama wants to limit or reduce the deduction [...]

Understand what the Fiscal Cliff is, as well as what tax increases are expected and spending cuts. What you don’t know is that 80% of the reduction in the deficit for 2013 will come from taxpayers.

One thing that is changing over the last few years is that more Americans are giving up their US citizenship. This trend coincides with not only relatively recent legislation that discourages expatriation and foreign bank accounts, but also proposed legislation that makes expatriation more expensive and tax compliance mandatory for an American’s right to passport. [...]

President Obama plans to make a few major changes to the tax code in his second term as President of the United States. The basis of Obama’s plan is to keep fighting to keep taxes for middle-class families low, simplify the tax code, and to have millionaires and billionaires pay their “fair share” in order [...]

With the two major presidential candidates having different tax plans, and many economists forecasting that both political parties will come together to extend tax breaks set to expire this year, tax planning for 2013 is still very difficult. This is not only problematic for individuals, but also for some businesses who claim that tax uncertainty is causing investments and hiring to be put on hold until they know what tax policies will be kept or enacted. Although no one knows for sure what the tax code will look like in 2013, you could make a feasible assumption that taxes will stay the same or go up since our deficits our mounting. Below are some possible tax moves for individuals and business to consider as 2013 nears.

One country that is very close to legalizing marijuana is Uruguay. Political leaders in Uruguay believe the legalization of marijuana will result in less violence, tax savings, and new revenue. The idea of legalizing marijuana though in the United States, has been growing in support since the 1970s. Last year Gallup showed half of Americans [...]

Taxes: they’re among the most debated areas of governmental policy—and the most debated economic policy—because they literally affect everyone. While specific policies ebb and flow over time, particularly as they pertain to different types of taxes, party doctrine on fiscal matters has remained broadly consistent over a period of many years. Nevertheless, changes in emphasis [...]

Taxes impact everyone, every day, and are thus among the most discussed governmental policy matters in the United States, from K Street to Main Street.  Given the importance of—and interest in—fiscal policy, the major American political parties spend a great deal of time laying out and explaining their positions to the public.  What is the [...]

The subject of tax rates on what is known as “carried interest” has been the subject of vigorous debate for a number of years but the news during the Republican presidential nominating season earlier this year that a substantial percentage of Mitt Romney’s earnings came from carried interest brought new attention to the subject. What is carried [...]