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Why We Should Have a Flat Rate Corporate Income Tax
10 hours ago ago from Albert's America
The current tax code is a joke. More than nine thousand pages long, it is impossible to completely understand. The current tax code has too many loop holes, which businesses have been able to exploit. Businesses have used the loop holes to avoid paying taxes and several corporations have actually been able to get tax rebates! This is one reason we have seen a drop in revenues from corporate income taxes, despite the fact that we have the ...
Related contentWhy Do We Pay Income Tax?
20 hours ago ago from Poztman
Taxes are a way to pay our fair share compared to a country that has so much to us. People live in a nation and pay taxes, not because they fear persecution, but because they show love for the country and think it is their duty to pay taxes so that they can do their part to improve the public school system , public health, the children are inoculated against the disease in childhood, for a fixed system of national security, and of course, for ...
Related contentA Brief Timeline of Tax Practices of the US, Part Two
4 hours ago ago from Tax Cures Reviews
Raleigh NC CPA W. Marc Gilfillan, CPA, NC , individual and business CPA and Tax expert, shares about the history of taxes 1861 - After Lincoln was elected, southerners walk out on Congress and create the Confederate States of America with a rewritten constitution to sustain the newly formed government right to tax in check. 1862 - The first US income taxes is created to help finance the sudden and massive debts of the Civil ...
Related contentMore Tax Provisions than the Estate Tax Expiring December 31
20 hours ago ago from New Jersey Estate Planning & Elder Law Blog
Derek Jensen of Jensen Law Offices reminds us in his blog that the Estate Tax is not the only federal tax provision expiring on December 31 due to Congressional inaction this year. The estate tax isn't the only tax provision expiring on Dec. 31. Due to congressional inaction 50 tax provisions will expire. Including the annual AMT patch, the deduction for state and local sales taxes, the $4,000 deduction for college tuition, a provision ...
Related contentA Short Timeline of Taxation Practices of the United States, Section 2
11 hours ago ago from New Energy Articles Blog
Raleigh NC CPA W. Marc Gilfillan, CPA, NC , individual and business CPA and Tax expert, shares about the history of taxes 1861 - After Lincoln was elected, the South walks out of Congress and create the Confederate States of America with a rewritten constitution to curtail the power of their newly formed country to tax. 1862 - The first US income tax is levied to assist the financing of the sudden and huge debts of the Civil ...
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Federal estate tax deadline looms
20 hours ago ago from WalletPop
When Congress passed the Economic Growth and Tax Relief Reconciliation Act (EGTRRA), many championed the "repeal" of the federal estate tax. What wasn't widely advertised at the time was that the repeal was for a single year. That single year of repeal begins in 10 days. Under the terms of EGTRRA , the federal estate tax exemption amount increased from $675,000 in 2001 to $3.5 million in the current year, 2009. As the exemption amount ...
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