Medical Device Excise Tax: The Jackalope Hunt That Went Too Far

Medical Device Excise Tax: The Jackalope Hunt That Went Too Far
The medical world is financially screwed up. In my own recent past, my wife got a brace (that didn’t work) from an Urgent Care. Had they billed it to me correctly, it would have cost me zero dollars. If I bought the piece of crap at Walgreens, it would have cost about $30 dollars. Instead, some ...

Bill Gates Missing The Point In Tax Analysis

Bill Gates Missing The Point In Tax Analysis
Bill Gates doesn’t have a problem with our current corporate tax system. Well, okay, that’s almost certainly overstating it. I’ve followed a bit of what the semi-post-Microsoft Bill Gates has done, and his viewpoints must be more complex than the sound bite answer we got on the tax system in his Fareed Zakaria GPS interview. However, he ...

Which Candidate’s Tax Reform Plan Would The Economist Support?

Which Candidate's Tax Reform Plan Would The Economist Support?
This morning I stumbled on an Economist article discussing a tax arrangement that’s distorting our world like a SciFi super villain. Unfortunately, our tax plan’s Lex Luthor also has the popularity of Superman: tax-free debt. If you don’t want to click the link above for fear that your friends will think you’re a haughty intellectual (“I read The Economist” ...

What Kind of Cash Pile Will The NFL Hand Over To IRS?

What Kind of Cash Pile Will The NFL Hand Over To IRS?
Whenever there’s a big news story about taxes, an accountant smiles and an angel gets its wings. The big news story of the week is that the NFL is dropping its tax exempt, 501(c)(6) status. That’s a touchdown for the taxpaying public, which has been so riled up over the NFL’s tax preferential treatment that ...

Anatomy of a Sin Tax

Anatomy of a Sin Tax
What’s the purpose of a tax? This is a fundamental debate, yet it’s rarely examined beyond the surface mud slinging we see in a political fight. It comes down to two options, though: are we trying to raise money, or are we trying to influence behavior? The tax code is riddled with examples of both. ...

Last Minute Deduction – Donate to Families of Slain Cops

Last Minute Deduction - Donate to Families of Slain Cops
When you’re a week from the tax filing deadline, there’s only a couple things you can do to lower your tax liability. This year there’s one more option on that very short list: a new, last minute deduction just signed into law that allows you to claim a 2014 deduction for 2015 donations to charities aiding ...

Taxes and Destruction – The Casualty Loss Deduction

Taxes and Destruction - The Casualty Loss Deduction
While growing up in Redding, California, the disasters rolled around every year like our SimCity god was bored of our typical day to day living. If we didn’t suffer massive flooding and storm damage in the winter, then we could look forward to uncontrolled fires in the summer. Catastrophic events hit throughout the nation all the time, ...

What Part of $1 Billion in Refunds Do You Have With The IRS?

What Part of $1 Billion in Refunds Do You Have With The IRS?
Today, the IRS dropped a press release bomb stating they have $1 billion in refunds from 2011 stashed away in their sock drawer, just waiting for one of a million people to show up and claim it.  They estimate that half of the potential refunds are more than $698. Before I move on, can I comment on ...

Emma Thompson’s Misguided Tax Protest

Emma Thompson's Misguided Tax Protest
This weekend I saw a bit of news from across the pond that made me chuckle. Emma Thompson’s husband, Greg Wise, stated that he wants “to stop paying tax, until everyone pays tax.” He notes that “Em’s on board” with this, demonstrating the necessary spousal approval before jumping into a bed of illegal activity. That part ...

Do Most Americans Support Obama’s Tax Hike?

Do Most Americans Support Obama's Tax Hike?
A couple weeks back I wrote about President Obama’s proposed tax plan, rolled out shortly after his State of the Union address. Now, right on cue, we’re getting the polling data on the plan. All it takes is a quick Google search and an aversion to reading past the headline to get what the media’s take on the ...