We and others warned a year ago that letting the payroll tax expire would hurt the economy. Policymakers ignored those warnings, and in a new analysis, Goldman Sachs highlights the economic damage that the resulting tax increase has...Show More Summary
Government redistributes income through tax and spending programs. Nearly everyone pays some tax – be it federal or state income taxes, payroll taxes, or sales taxes. The tax system also affects people by delivering a host of benefits through tax expenditures (subsidies like the mortgage interest deduction or the child tax credit). And broad spending […]
The founder and former CEO of a multi-state real estate showing appointment service is scheduled to report to prison today to serve a 2 1/2-year sentence for pocketing his employees’ payroll taxes instead of handing them over to the government....
LONDON (Reuters) - In the 1990s, London-based investment banks rewarded top employees with gold bars, fine wine and oriental carpets to dent the impact of higher payroll taxes.
In the NBA teams need to worry about getting below the salary cap in the future if they want to be players in the free agent market. But for the purposes of in-season payroll levels, the salary cap is nearly meaningless compared to the tax level. Show More Summary
At the beginning of this year, many Americans opened their paychecks to find that their take-home pay was suddenly less than it had been the previous month. The payroll tax cut had expired, resulting in the average American worker owing an additional $700 in payroll taxes this year compared to last.
Businesses and self-employed individuals face the prospect of paying higher taxes to Lane Transit District now that the transit agency has taken a first step to raise the cap on its payroll tax.
Next summer brings the repeater tax, which will levy additional penalties on teams that have payrolls above the luxury-tax threshold for multiple years. We explain how this will make it extremely difficult to keep good teams together. Next...Show More Summary
It's deja vu time for Wal-Mart. Spot the trend: Q1: Wal-Mart Misses Revenue, Guides Below Expectations: Weather Among Factors Blamed Q2: Wal-Mart Misses, Guides Below Expectations; Blames Weak Consumer Spending, Payroll Tax, FX And Lack Of Inflation Spot it yet? Good. Show More Summary
Saturday: WSJ: Is Severance Pay Subject to Payroll Tax? Implications of a Switch to a Territorial Tax System Madison: Legal Education: A Vision for the Future The IRS Scandal, Day 184 Sunday: Kirsch: The Tax Treatment of Citizens Abroad Top 5 Tax Paper Downloads Konefsky & Sullivan: The Winter Of...
Wall Street Journal Tax Report: Can Severance Pay Be Taxed?, by Laura Saunders: A year ago, we reported a disagreement between two federal appeals courts as to whether payroll taxes are due on severance payments made to laid-off workers. We predicted the issue could wind up before the U.S. Supreme...
The elections are over. You're coming down from the sugar high of "helping" your kids finish their haul of Halloween candy. That makes it the perfect time to seriously think about your taxes, both moves that could lower your 2013 taxes and steps to take so that 2014's Internal Revenue Service bill is even less. Show More Summary
NEW YORK (AP) — Derek Jeter's new contract has increased the Yankees' luxury tax payroll to $97.71 million for seven signed players next year. That leaves New York with about $80 million to spend on the rest of its roster if the team wants to get under the 2014 tax threshold.
Here is the good news: in the 12 months ending September 30, the U.S. had its smallest budget deficit in five years. Now the bad news: one of the primary reasons was the significant hike in payroll taxes. Seventy-seven percent of U.S. Show More Summary
In his October 27 story, ?Twitter tax break? could cost SF tens of millions more after IPO,? SF Chronicle reporter James Temple conflates two distinct tax breaks: the "Twitter" Mid-Market/Tenderloin payroll tax exemption on net new hires, and the Zynga-inspired exclusion of stock options. Show More Summary
High earners will see $7254 in Social Security tax withheld in 2014, a stiff increase from $4624 in 2012 when a temporary payroll tax cut was in effect.
In 2011, San Francisco agreed to exempt Twitter from the city's payroll taxes on new hires in exchange for charitable contributions like, say, philanthropic retweets. The value of the tax break was estimated to be worth $22 million over six years. Show More Summary
Never borrow withheld taxes. A little story out of Cedar Rapids this morning has a big lesson for business owners: Former owner […]
In 1940, the year before America entered World War II, excise taxes—such as gas and cigarette taxes—were the largest source of revenues for the federal government, followed by Social Security payroll taxes, then corporate income taxes. Today,...Show More Summary
Social Security faces big financial challenges. Some believe raising the Social Security tax rate is the best way to solve it.