Tax Blog

Does the disabled person need to file a tax return in order to get the tax rebate? He usually doesn’t file income tax in the past, because he only receives disability payments as the only source of income.

Tax Blog

If you have more tax withhelf, you get a refund during income tax season. If you get more money on your paycheck you end up paying taxes. I don’t want that to happen to me so on my VA tax forms, what do I claim?

Tax Blog

I recently became a Texas resident and paid sales tax to Texas on a car I purchased. Is that state sales tax deductable from my federal income taxes (Texas has no state income tax)?

Tax Blog

Hello, I have made quite a bit less than expected and am not sure whether or not I will owe any taxes after the standard deduction… How much should I pay for estimated tax? If I overpay in estimated tax, what happens?

Our Low-Tech Tax Code
Section 1706 of the 1986 tax act is a discriminatory law that hurts thousands of technology consultants, their staffing firms and customers.

Read more on New York Times

Tax Blog

Turbo Tax and the Certificate for Income Adjustment
I am itemizing and I have a Certificate for Income Tax Adjustment from Department of Defense for my overpayment of a debt to the federal govt. What screen in turbo tax do I enter my adjustment amount? It is over $3000. I want to take the tax credit not the tax deduction.

RI lawmakers debate tax credit for hiring workers
Companies that hire a worker would get a $2,000 tax credit under a proposal that Rhode Island lawmakers will debate this week.

Read more on Boston Globe

Campaign video by Richard Curtis and Bill Nighy, about the Robin Hood Tax, a tiny tax on bank transactions that could raise hundreds of billions for public services and to tackle poverty and climate change at home and around the world. Add your own voice to the campaign at www.robinhoodtax.org.uk

Tax Blog

My wife and I just bought our first home in Los Angeles and I know that this coming tax year we can deduct mortgage interest and property tax. We both have full-time jobs, file jointly (both filed with 0 claimed dependants), and have a, before taxes, combined income of roughly $100k. The mortgage interest and property taxes for the year will total just over $30k. What kind of number could I roughly expect to get back in my taxes this year?
We don’t have any kids and no other deductable interest. Last year our return was under $3k.

Tax Blog

If the US wanted to finance the federal government entirely thru a carbon tax (or oil tax or gasoline tax), how high a tax rate would be needed to finance the government and replace the income tax and all other revenues? How much would that add to cost of a gallon of gasoline?