The Tax Preparation Blog

Posts Tagged ‘historical’

Uganda: We’ll Keep Public Money Away From the Sharks

Regulating public expenditure is a requirement for any responsible government in ensuring proper utilisation of public funds and planning. It is unfortunate that the incumbent regime in Uganda today is propelling and encouraging malicious and rapid expenditures without checks and balances by those spending such funds.

Pryor Leads Fight to Reduce Deficits

Question: “federal income tax liabilities”?

What exactly is the definition of the term “federal income tax liabilities”? What is this chart indicating? http://s241.photobucket.com/albums/ff319/goldfinch331/?action=view&current=ShareOfFederalTaxLiabilities.gif

Answer: “Federal income tax liability” is the amount (or percentage) of taxes that a person (or people) is responsible for.

The chart indicates, year to year, the % of all federal taxes paid by individuals whose incomes were in the top 20% of all incomes.

Fidelity® Provides Income-Based College Savings Guidelines as Study Shows Parents Projected to Meet Only 16% of Future …

BOSTON–(BUSINESS WIRE)–Fidelity Investments®, a leading provider of 529 college savings plans, today announced the results of its fourth annual College Savings Indicator study, which calculates how prepared parents are to pay for future college costs, whether they save on their own or with a financial advisor. This year’s study showed significant progress in the actions and behaviors of …

Federal Income Tax Withholding Chart for 2009, 2010

To cope with the gloomy real estate market, lawmakers and businesses call out for an increase in tax credit for first-time home buyers. Right now, the tax credit is maxed at $8,000 and is expiring this coming fall. Some business groups suggest the tax credit be increased to $15,000 for first-time home buyers.

According to the National Association of Realtors (NAR), 40% of home purchases consist of first-time home buyers, a 5% increase than the historical average. The tax credit, originally part of the economic stimulus package, was introduced last July 2008 and was later expanded in February. According to some economists, the tax benefit is crucial to stimulate home buying and to stabilize prices.

The proposal to increase the tax credit includes the following:

Bernard Bauhmol, an Economic Outlook Group economist, is confident that the Congress will approve the proposal because “it’s important that housing come back” despite the fact that raising the credit will result to reduction of taxes. Meanwhile, the Business Roundtable, a group of CEOs of big companies urges the Congress to increase the tax credit to up to $15,000 and make all home buyers eligible. Realogy CEO Richard Smith thinks that the real issues are how to stimulate the “move-up market” and how to pay for it.

At the moment, the policy on tax credit does not apply to singles who earn above $95,000 per annum and couples who earn above $170,000. There are some business leaders who want these income caps removed to increase the number of eligible individuals. At the end of the day, one thing’s for sure – if these proposals were approved, more people will definitely take advantage of the expanded tax credit.

South-Western Federal Taxation 2011: Comprehensive (with H&R Block @ Home Tax Preparation Software CD-ROM, RIA Checkpoint® & CPAexcel® 2-Semester Printed Access Card) $48.99 Packed with new “Big Picture” tax scenarios and new “What-If?” case variations, SOUTH-WESTERN FEDERAL TAXATION 2011: COMPREHENSIVE VOLUME remains the most effective text for helping you master complex tax concepts and the ever-changing tax legislation. Renowned for its accessible, comprehensive, and time-tested presentation, the text provides thorough coverage of individual taxation, C Corporation…

South-Western Federal Taxation 2011: Individual Income Taxes (with H&R Block @ Home Tax Preparation Software CD-ROM, RIA Checkpoint® & CPAexcel® … Federal Taxation Individual Income Taxes) $99.85 Packed with “Big Picture” tax scenarios and “What-If?” case variations, SOUTH-WESTERN FEDERAL TAXATION 2011: INDIVIDUAL INCOME TAXES remains the most effective book for helping you master detailed tax concepts and the ever-changing tax legislation. Renowned for its accessible, comprehensive, and time-tested presentation, this book provides thorough coverage while highlighting materials of critical…

South-Western Federal Taxation 2010: Comprehensive Volume (with TaxCut® Tax Preparation Software CD-ROM and Checkpoint 6-month Printed Access Card) $55.00 Packed with new “Big Picture” tax scenarios and new “What-If?” case variations, SOUTH-WESTERN FEDERAL TAXATION 2010: COMPREHENSIVE VOLUME remains the most effective text for helping you master complex tax concepts and the ever-changing tax legislation. Renowned for its accessible, comprehensive, and time-tested presentation, the text covers both individual and corporate taxation while highlighting…

Wisconsin Making CDL Changes to Meet Federal Regulations

Wisconsin is making several changes to its commercial driver license program, after the Federal Motor Carrier Safety Administration found a number of discrepancies between Wisconsin statutes and federal regulations.

ABC7 News Mayor’s Economic Roundtable