Taxes Blog

Tuesday, August 9, 2011 9:59 am
By Kay Bell · Bankrate.com

It’s only Tuesday, but for those of us hoping to retire sooner rather than later, it’s probably going to be a very long week. Actually, thanks to Standard and Poor’s decision to drop the United States’ creditworthiness from triple-A to AA-plus, it’s probably going to be a stretch of very long months. The rating agency’s

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Tags: tax, Taxes
Friday, August 5, 2011 2:28 pm
By Kay Bell · Bankrate.com

If you were counting on an airline ticket tax refund, you’re out of luck. When Congress was unable to agree last month on a bill to continue funding the Federal Aviation Administration, not only did around 74,000 people lose their jobs, but taxes tacked onto airline tickets also lapsed. Thanks to that legislative oversight, it

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Thursday, August 4, 2011 3:38 pm
By Kay Bell · Bankrate.com

Did you buy an airline ticket before July 23 but didn’t fly until that day or later? Then you paid a federal aviation tax that has since expired. And that means you’re eligible for a tax refund of your ticket tax money. The good news is that the Internal Revenue Service and some airlines are

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Tuesday, August 2, 2011 10:34 am
By Kay Bell · Bankrate.com

Summer is almost over. That means back-to-school sales tax holidays. This August, 17 states are trying to encourage shoppers by exempting certain products from state and in some cases local sales taxes. Mississippi kicked off tax holiday season last weekend. Eleven more states hold their tax-free shopping days this coming weekend. Five more state events

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Thursday, July 28, 2011 11:16 am
By Kay Bell · Bankrate.com

With folks pinching their pennies ever tighter, 17 states are hoping to encourage shopping by offering sales tax breaks. This time of year the events are usually characterized as back-to-school tax holidays. But it’s not just classroom supplies that are exempt from sales taxes. In fact, in Mississippi, which kicks off the 2011 round of

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Tuesday, July 26, 2011 8:14 am
By Kay Bell · Bankrate.com

Electricians are licensed. So are plumbers. Even my hairdresser has to get an official piece of paper from the State of Texas before she can cut hair for a living. But in most states, it doesn’t take any formal OK for folks to hang out a shingle declaring they are tax professionals. The Internal Revenue

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Thursday, July 21, 2011 3:14 pm
By Kay Bell · Bankrate.com

How much did the first-time homebuyer credit help the U.S. housing market? Not much. The much ballyhooed tax break was touted as the best way to shore up the sagging housing industry following the bursting of the real estate bubble. But a new paper by Jonathan Brogaard and Kevin Roshak, doctoral candidates at Northwestern University’s

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Tuesday, July 19, 2011 1:46 pm
By Kay Bell · Bankrate.com

For most folks looking for a job, especially in these tough employment times, the key factor is salary. But benefits also are nice. The usual workplace offerings are medical insurance and a retirement plan. And some companies even offer their employees added compensation via stock options. Employee stock plans that allow workers to get a

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Thursday, July 14, 2011 2:04 pm
By Kay Bell · Bankrate.com

Attention lawmakers looking for ways to bring down the country’s budget deficit. Sen. Carl Levin, D-Mich., says he knows an easy way to get $100 billion into the U.S. Treasury each year: close offshore tax loopholes and strengthen offshore tax enforcement. Levin has introduced a bill that contains a variety of measure to end what he

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Tags: tax, Taxes
Tuesday, July 12, 2011 9:48 am
By Kay Bell · Bankrate.com

Jane Chrissy Smith is one of the lucky ones. She claimed the first-time homebuyer credit on her 2010 tax return, was entitled to a refund and finally got her money last week. “Got my money today with $30 interest attached and a reminder that I will have to claim the interest on next year’s taxes!

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