Tax credits

It’s tax season again, which seems an even colder season than winter for many of us. Physicians, especially, can feel a chill in the air this time of year as they attempt in vain to get ready for April 15th. Between taking care of their patients and trying to stay compliant with so many initiatives, many doctors have little time to actually learn the basics of the tax codes that apply to them, and so they wind up getting involved in questionable investments and “tax shelters” to, in the end,…

Everyone is always playing the blame game when it comes to debt, whether it be the Republicans fault or the Democrats, each party has their own agendas, and they are just going to keep spending. Nobody likes to pay back debt, because, just like a credit card, it is easy to…

need to pay is called impostasulredditodellepersonefisiche, or IRPEF. Tax rates increase and vary from 23% to 43%. There are additional taxes levied at the regional (0.9% to 1.4%) and local (0.1% to 0.8%) levels. If you are a non-resident in Italy then you will be taxed only on the income earned on the Italian soil. For income tax purposes, expatriates will be considered as resident of Italy as they spend great amount of their tax period in Italy i.e. more than 183 days in a calendar year and…

In light of the recent and controversial election of President-Elect Donald Trump, perhaps no economic issue plagues the minds of Americans as much as the Affordable Healthcare Act—colloquially referred to as “Obamacare”. It’s no secret that in the United States, healthcare accounts for a significant amount of government spending “consuming 17.1% percent of the nation’s gross domestic product (GDP) in 2013, about 50 percent more than any other country” (The Commonwealth Fund, 2015). In response…

FACTS Prior to 1985, Douglas F. Manchester (Manchester) formed for purposes of constructing, owning, and managing two hotel facilities at the San Diego Convention Center, two limited partnerships: Pacific Landmark Hotel (Landmark) and Pacific Gateway (Gateway). The construction was primarily financed through nonrecourse borrowing. Landmark and Gateway both used accelerated depreciation to lower their bases below the amount of debt incurred in constructing the hotels. On October 3, 1985,…

According to Teles, there are many reason why the tax code is so messy: it is easier to add things to it than subtract; resource transfers through the tax code seem to enlarge government more than direct spending, regardless of similar effects; the conservative immune system of big government in the tax code is lower than to the big government through expenditure, and finally, people attempting to attain special deals can do it more easily through the tax code than through directing spending,…

stopped using the penny. They stopped production and distribution, and they asked all businesses to follow a new rounding tax. To this day, the government is being sent pennies to recycle into new things. They are sorted, and then melted down and sold for building projects and electronics. So far, they’ve gotten 4 billion pennies. If people go directly to the mint, they receive a credit for the pennies. Otherwise, they can give it to any bank and donate it to be sent to the mint by them. It was…

The Stamp Act is a law that required the colonial residents to pay taxes on all the paper taxes that they use. The Stamp Act put taxes on bills, letters, and advertisements. The British Empire put the tax on the colonist because the were in deep debt from French and Indian War. King George looked at the colonist as a way for him to make his money back. They had resorted to a mob of violence to get the stamp collectors to resign. Devin Pruitt was one of the people who was apart of the Sons of…

minimum wage should increase. He thinks the minimum wage should be abolished. Rubio has faith in the innovative leaders in the private sector will not only create millions of jobs, they will create millions of high paying jobs. He believes that with tax breaks…

Since the benefit is tax free, if this employee is in the 30% tax bracket (payroll and income tax combined) the tax subsidy is $6,000. That is, had the $20,000 been paid as wages, government at all levels would have taken $6,000. But since the money was spent on health insurance instead, government took nothing. To get…