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Your deduction may be Schedule C, or it may be nothing at all
One of the first things people figure out about tax returns is that deductions on Schedule C are better than deductions on Schedule A. A legitimate Schedule C deduction is fully-deductible whether you...
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Tax Simplification – or just forms fiddling?
Trish McIntire is unimpressed by sample forms used to demonstrate the Bipartisan Tax Fairness and Simplification Act of 2010: If you want to simplify the tax code, simplify the confusing theory and not...
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Extended bonus depreciation, $500K Section 179 deduction await President’s...
The House yesterday passed the version of the “small business” tax and loan package passed last week by the Senate (HR 5297). The president is expected to sign the bill quickly. The key tax provisions:...
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With so many worthy entries, it’s hard to pick a winner
TaxVox has selected “The Biggest Tax Policy Mistake of the Year“*: With little time left on the legislative clock, policymakers will be hard-pressed to top the tax policy blunders they
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The election: what do they mean by that?
Now that the balance of power in D.C. and Des Moines has shifted somewhat to red, whither tax policy? At the federal level, a lame-duck Congress has a huge tax agenda, including: - The fate of the...
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Tax Roundup, 1/24/14: Executive stock spiff proposed for Iowa. And: Haiku!
Legislators propose to exempt employer stock gains from employee Iowa income tax. S.F. 2043 would exclude from taxation capital gains from stock received by an “employee-owner” of a company “on...
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