Hillary Clinton Channels Marco Rubio for Child Tax Credit

Hillary Clinton Channels Marco Rubio for Child Tax Credit
Hillary Clinton, apparently deciding she needs to do more than sit in a lawn chair and watch Donald Trump’s latest gasoline fight accident, released something resembling an actual tax proposal today. Say hello to an expanded Child Tax Credit. Since I’m a bit of a tax nerd (if having a tax website didn’t give that away), ...

Bernie Sanders: Tax Millionaires, Pay For Everything

Bernie Sanders: Tax Millionaires, Pay For Everything
In The Lego Movie, Benny wants to build a spaceship. It’s his answer to everything. Escape from Bad Cop? Spaceship. Break into Lord Business’s evil lair? Spaceship! Destroy the Micromanagers? SPACESHIP! Like that 1980-Something Space Guy, Bernie Sanders has one main obsession: raising taxes on the wealthy. Social Security in trouble? Tax the rich. National ...

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 ...

What Kind of Tax Bill Will This Year’s Oscar Gift Bag Generate?

What Kind of Tax Bill Will This Year's Oscar Gift Bag Generate?
Ah, the Oscars. Hollywood navel gazing at it’s finest. The highest honor that can be bestowed upon a bunch of films nobody wants to see. A guaranteed road to all the best roles the industry has to offer, portraying important literary and historical figures like . . . um, OJ Simpson? Yeah. Anyway. Let’s get to ...

How To Handle an IRS Notice

How To Handle an IRS Notice
I’ve been reading Game of Thrones recently, and one of the sayings that keeps showing up is “dark wings dark words,” which is to say that carrier ravens (because carrier pigeons don’t have enough death to them for George R. R. Martin) always bring bad news. Considering the symbol attached to the corner of every ...

Will We Soon Be Paying Taxes in Bitcoins?

Will We Soon Be Paying Taxes in Bitcoins?
Have you ever started using something superfluous just because you could, only to realized that, hey, this thing is actually pretty good? I have a couple pieces of software like that, photography drones are moving that way, and that pretty much sums up my thoughts on Bitcoin. While Bitcoin and other cryptocurrencies are gaining popularity based on the ...

Deducting Unreimbursed Employee Business Expenses

Deducting Unreimbursed Employee Business Expenses
(More 1040 deductions are explained here) The employers I’ve worked for so far have been good to me with the expense account: if something comes out of my pocket, they cough up the dough to put it back in. Not everyone is so fortunate. Congress knows this, and in an attempt to provide some relieve for employees ...

Can I Deduct Those Ridiculous Mortgage Insurance Premiums?

Can I Deduct Those Ridiculous Mortgage Insurance Premiums?
(NOTE: if you’re looking for a list of itemized deductions, go back to the 1040 summary page here) When we bought our first house, the payments that frustrated me more than cat trying to catch a laser pointer were the Mortgage Insurance Premiums. While all the other payments felt more or less justified, Mortgage Insurance came as a punishment. I could ...

2014 Tax Extender Finally Has Movement

2014 Tax Extender Finally Has Movement
It’s December of 2014, which means it must be time for Congress to finally make its laws to cover all of 2014. This has been the way of things for the past four years or so with taxes. Democrats and Republicans fight like dogs over a smelly old bone on what to do with taxes, ...

The Itemized Deduction – Its Benefits and Limitations

The Itemized Deduction - Its Benefits and Limitations
(NOTE: if you’re looking for a list of itemized deductions, go back to the 1040 summary page here) The term itemized deduction is thrown around in comment sections and news articles like its a delicious ball of cotton candy, ready to be plucked by whoever is willing to pull off a handful. The reality is that there’s ...