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Coal Ash Wednesday: Duke Energy pockets $231 million from Trump's tax scam

2 hours agoUS Politics / Liberal : BlueNC

And that's just for the last three months of 2017: Electric Utilities and Infrastructure recognized fourth quarter 2017 segment income of $826 million, compared to $483 million in the fourth quarter of 2016. In addition to the drivers...Show More Summary

Facebook co-founder Chris Hughes wants the richest 1% of Americans to fund a basic income for 90 million people

Facebook co-founder Chris Hughes wants to provide 90 million Americans with a monthly stipend of $500. In a Reddit AMA, he explained that he would want to pay for this by raising taxes on the one percent. He estimates that the program...Show More Summary

IN THE MAIL: J.K. Lasser’s Your Income Tax 2018: For Preparing Your 2017 Tax Return. Plus, fres…

IN THE MAIL: J.K. Lasser’s Your Income Tax 2018: For Preparing Your 2017 Tax Return. Plus, fresh Gold Box and Lightning Deals. New deals every hour. Your patronage is always appreciated!

Most Taxpayers’ Benefits Come Mainly from the TCJA’s Individual Provisions, But the Rich Get Much of Their Tax Cuts from Corporate Changes

The Tax Cuts and Jobs Act (TCJA) affects the after-tax income of households in two ways: directly through the individual income tax and indirectly through...

Did another light run of 2.3 miles

I left home in the late afternoon (spent most of the day doing income tax return), and the temperature was in the low 50s (F). There was a 15-20 mph gusty wind blowing, and the wind made running and walking difficult. It was nice, though, on the way back to have the wind pushing me. The sun was out most of the day.

TRUMP COULD MAKE MEXICO PAY FOR THE WALL WITH A MODEST — SAY, 5% — TAX ON REMITTANCES: Mexican-Am…

TRUMP COULD MAKE MEXICO PAY FOR THE WALL WITH A MODEST — SAY, 5% — TAX ON REMITTANCES: Mexican-Americans Sent Home Record $28.1 Billion in 2017. “Perhaps comically, remittances were actually Mexico’s biggest source of foreign income after auto exports, far surpassing the $20 billion that Mexico earned from oil exports and the $19 billion […]

Where's your refund? Still in the works for ACTC, EITC filers

Princess Bride impatience via Giphy.com Mid-February is finally here, the time when the Internal Revenue Service can finally issue refunds to taxpayers who had claimed the Additional Child Tax Credit (ACTC) and/or the Earned Income Tax Credit (EITC). Show More Summary

Tax-reform changes will alter home-owning rationale for some

The new tax law caps income deductions on large mortgages (those above $750,000 in debt, taken out after Dec. 15, 2017) for people who itemize.        

The Marriage Penalty Tax Has Been Abolished, Hooray!

In the past, I used to wonder why two individuals with high incomes or two individuals with a large income differences would ever want to get married. Paying thousands of dollars in marriage penalty taxes didn’t make sense. It seemed...Show More Summary

The Price We Pay for Capping the SALT Deduction

The Tax Cuts and Jobs Act (TCJA) limited the ability of taxpayers to deduct state and local taxes (SALT) from their federal taxable income. New...

Mississippi’s Pro-Growth Tax Swap Proposal

The Mississippi House of Representatives has proposed a bill that would eliminate an income tax bracket, while increasing the tax rate on fuel. The swap would allow Mississippi to transition from taxes on income to taxes on consumptions and final users, reducing burdens on investment and aligning the government services taxpayers benefit from to the […]

Average Monthly Paycheck Rises $131 After Trump Tax Cut

Americans’ monthly paychecks increased by an average of $130.76 in February thanks to the new 2018 tax plan changes, according to a new LendEDU survey, with a majority of respondents saying they will use the extra income to pay down credit card debt. As a result of the Tax Cuts and Jobs Act of 2017, the federal tax withholding tables changed on Jan. Show More Summary

States where you'll pay the most, least in taxes in retirement

One thing that the states at the top of the list have in common: no state taxes on Social Security benefits and mostly low, if any, income taxes.        

It’s a Win-Win: You May Save on Taxes While You Save for Retirement

How’s this for a sweet deal: With one move, you may reduce your federal income tax bill and take an important step toward financial security in retirement. Those are two potential benefits of making a contribution to a Traditional Individual Retirement Account (IRA). Your contribution can help you accumulate money for later in life and […]

Code §965: Individuals Recognizing the Deemed Repatriation in 2017 vs. 2018

Pursuant to the new Tax Cuts and Jobs Act, individuals that own at least 10% of the stock of a “specified foreign corporation” will need to include in their gross income their share of the foreign corporation’s deferred foreign income. Show More Summary

Marriage Penalties and Bonuses under the Tax Cuts and Jobs Act

Key Findings A marriage penalty or bonus is the change in a couple’s total tax bill as a result of getting married and thus filing their taxes jointly. Marriage bonuses typically occur when two individuals with disparate incomes marry. Marriage penalties occur when two individuals with equal incomes marry; this is true for both high- […]

Here's why these are the 4 best tax deductions

They lower your adjusted gross income for the year and may put you in a lower tax bracket.        

IN: IndyGo Rolls Out Enhanced Bus Service While Red Line is Delayed

When Marion County voters approved a new $56 million a year income tax in November of 2016, many thought it was going for the proposed Red Line from Broad Ripple to the University of Indianapolis, and someday it might, just no one knows when.

Cuomo and New York State Take the Lead in Fighting Back Against Republican Tax Plan

One of the major changes in the Republican tax plan that became law at the end of last year was a limit of $10,000 on the deduction for state and local income taxes. This was explicitly designed as an attack on liberal states like California...Show More Summary

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