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” ...

We Can Actually Criticize Specifics of Marco Rubio Tax Plan

We Can Actually Criticize Specifics of Marco Rubio Tax Plan
So far, while looking at the various 2016 presidential candidates tax plans, I’ve realized something important: we’re going to have way too many Republicans in the primary. And so far, very few of them have a tax plan. Rand Paul has a skeletal outline of a tax plan, but the other candidates so far have ...

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 ...

Hillary Clinton Tax Plan Whatever You Want It To Be

Hillary Clinton Tax Plan Whatever You Want It To Be
Last week, I noted that Ted Cruz has a long way to go to come up with something resembling a usable tax plan. Compared to Hillary Clinton’s tax plan, though, his is a well-established masterpiece. From what I could find, Hillary Clinton’s presidential tax plan boils down to a couple of vague platitudes about helping the ...

More Accountants Ruining Joke

More Accountants Ruining Joke
I’ve been told on multiple occasions that I have a very dry sense of humor (I blame an almost fanatical devotion to Monty Python sketch comedy in Middle School), and certainly I’ve had jokes fall flat. But sometimes it’s not my fault. Some accountants just need to lighten up. For example, last month I was part ...

Ted Cruz Tax Plan Needs More Time In The Oven

Ted Cruz Tax Plan Needs More Time In The Oven
Last week I discussed Rand Paul’s EZ Tax Plan, which is a flat tax that sounds nice, but has little chance of success. Today, I’m moving to another flat tax plan, this one proposed by Tea Party Favorite Ted Cruz. Before this post, I’d heard a bit here and there about Ted Cruz’s tax plan, ...

Why Rand Paul’s EZ Tax Will Fail

Why Rand Paul's EZ Tax Will Fail
UPDATE: Rand Paul has come up with a new Fair and Flat Tax Plan. Read about it here. It’s the day after Tax Day, so it’s time to do something fun. For me, since I’m attracted to Tax and Economic Analysis like a dog to vomit, I thought I’d start looking at our upcoming presidential ...

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. ...

Casualty Loss Deduction – Special Cases

Casualty Loss Deduction - Special Cases
In two previous posts I discussed theft loss and casualty loss, which combine together like Voltron for your Theft and Casualty Loss Deduction on a tax return. Since this is a complicated topic (what tax topic isn’t?), we still have a few more random items to discuss before we’re all the way through. Loss on ...

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 ...