Business Tax VOX
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Max Scherzer: Did tax breaks seal the deal for Nationals ace?
Washington Nationals pitcher Max Scherzer will avoid state income taxes on most game paychecks – tax savings that could amount to millions of dollars. How much do tax considerations affect where coveted sports free agents like Scherzer decide to play?
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New Congress, new tax rules, old obstacles
On the first day of the new Congress, new and old tax laws are being calculated, implemented, and executed. Tax prep firms are ready and waiting to help tax filers while repealing the medical tax device remains on the agenda.
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Why the Trans-Pacific partnership agreement is a pending disaster
Trans-Pacific partnership, or TPP, would be the largest trade deal in history representing several countries. But the TPP is not a good deal for most of us or, even for the inhabitants of developing nations.
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The 10 worst tax ideas for 2014
The past 12 months were a banner year for bad ideas and their perpetrators. We've picked out the worst top 10 ideas and hope history won't repeat itself for 2015.
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Will immigrants get a tax windfall from refundable credits?
Lawmakers scuttled an effort to permanently extend a number of tax breaks—largely because many feared it would open the door to widespread use of refundable tax credits by undocumented immigrants covered by President Obama’s recent executive order. Is their concern justified?
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Obama would improve tax subsidies for higher education
Obama's ideas for educational tax reform are controversial, but they’d do a better job helping households who most need education assistance than the current complex array of programs.
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How Obama would cut childcare costs
President Obama has proposed important changes for child care costs that could allow families of young children to save thousands. But some families, especially those with just one older child, could wind up paying more.
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Retirement security a priority for the Obama administration in 2015
President Obama proposed that his administration would make retirement security a priority that would increase the ability of part-time workers to join their employer’s plan and improve tax incentives for businesses.
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Fixing the President's 'angel of death' capital gains tax
President Obama's tax on capital gains at death makes enormous sense. But the problem is with the record-keeping involved. Having to keep track of every asset purchase ever made would be extremely difficult. Fortunately, there is an easy fix.
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The tax reform gap between Obama and the GOP is widening
President Obama laid out his vision for the tax code. He's using a 'middle-class economics' agenda aimed at raising taxes on capital gains on high-income groups and redistribute the money from rich to working-class households. While, Republicans want to cut tax rates mostly. Will there be a middle ground?
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Obama wants to tax the rich. It's a plan abroad, too.
President Obama called on Congress last night to address wealth inequality through the tax code. But taxing the rich isn't just an American thing; Russia, Great Britain, and Brazil have rules or proposals in motion to put the tax code to work agains income inequality.
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President Obama targets the 'angel of death' capital gains tax loophole (+video)
The president plans to announce new proposals that would substantially increase taxes for the wealthiest Americans. But the possible elimination of the 'angel of death' tax loophole is a more significant change, taxing the wealthy on inherited capital gains.
Photos of the day 01/28
Free Syrian Army fighter Ahmed al-Hussein carries puppies near the frontline against forces loyal to Syria's President Bashar al-Assad in Aziza village outside Aleppo, Syria, Wednesday. Hussein said he takes care of all the dogs living in the area.
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Will immigrants get a tax windfall from refundable credits?
Lawmakers scuttled an effort to permanently extend a number of tax breaks—largely because many feared it would open the door to widespread use of refundable tax credits by undocumented immigrants covered by President Obama’s recent executive order. Is their concern justified?
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Can Congress get more last minute deals done before the holidays?
Congress yesterday announced a $1.01 trillion deal but still will need a short-term extension to prevent a government shut-down. Meanwhile, congressional negotiators scramble to wrap up several policy disputes, approve or pass other bills, budget cuts, and more before the holidays.
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Can the House compromise on a $1.1 trillion spending bill?
The House is scheduled to vote tomorrow on a $1.1 trillion spending bill expected to be released today. Meanwhile, the IRS oversight report is out and the Congress is about to pass the compromise spending bill.
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Are tax-free ABLE accounts the right financial solution for the disabled?
Many people with disabilities face financial challenges. To address this issue, Congress is on the verge of approving the Achieving a Better Life Experience (ABLE) Act that would create tax-free savings accounts to assist disabled people. However, it comes with its eligibility restrictions and cannot be a complete solution.
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Why child tax and earned income tax credits should be made permanent
Two provisions that are enormously important to low- and moderate-income households-the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) are set to expire after 2017. They are relatively inexpensive ways to promote work and family, and Congress should make them permanent.
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House to vote on tax break extension. Will it affect you?
The House may vote this week on a one-year retroactive tax break extension. As many as one in six taxpayers could be affected without an extension of the 60 or more tax breaks.
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What falling oil prices will mean for state budgets
Oil prices are dropping…fast. This may be good news for drivers but not so good for a handful of states that use energy tax revenue to help fund their budgets.
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Bigger, cleaner, and more efficient: a carbon corporate tax swap
US could reduce its contribution to global climate change by taxing emissions of carbon dioxide and other greenhouse gasses and use the resulting revenue to reduce corporate income taxes. This carbon-corporate tax swap would make our economy bigger, cleaner, and more efficient.
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How did medical device makers become poster children for Obamacare critics?
A year later, the Affordable Care Act's tax on medical devices is back under scrutiny. If Republicans can line up a significant number of Democrats to vote in favor of repealing the tax next year, they get an easy win and make the case that there is bipartisan opposition to the ACA.
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Will Obama's immigration action kill tax reform? No.
A popular Washington narrative is that President Obama will kill prospects for tax reform in 2015 if he grants legal status to undocumented immigrants. But even if Obama does nothing on this issue, the political headwinds against a tax code rewrite were already too strong.
