Taxes Blog

Thursday, September 15, 2011 7:19 pm
By Kay Bell · Bankrate.com

If you make more than $200,000 (or $250,000 and you and your spouse file a joint return) and you itemize deductions, you might want to pay attention to the jobs bill President Barack Obama is trying to get through Congress. To pay for his proposal, the president is suggesting limits on the items claimed on

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Tuesday, September 13, 2011 2:57 pm
By Kay Bell · Bankrate.com

Being the boss is fun, except when you have to juggle accounts to pay bills, or deal with an irked customer or make sure your taxes are paid. OK, maybe being the boss isn’t everything it’s cracked up to be. But lots of folks still opt for self-employment, either by choice or because they’ve been nudged

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Thursday, September 8, 2011 4:44 pm
By Kay Bell · Bankrate.com

The Labor Day weekend in Texas was horrible. In case you missed it, much of my home state is on fire. The largest wildfire is southeast of Austin in Bastrop County. It was a lovely area, with small communities sprinkled among the Central Texas hills and forests. I say “was” because much of the area

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Tuesday, September 6, 2011 4:38 pm
By Kay Bell · Bankrate.com

Religion and politics are two of the three things you should never discuss at a polite dinner party. They occasionally come up, however, when you talk about taxes. There are many popular tax breaks that cost the U.S. Treasury billions of dollars. Expect them to get at least a cursory look by the new special

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Tags: tax, Taxes
Thursday, September 1, 2011 1:51 pm
By Kay Bell · Bankrate.com

When it comes to tax reform, the consensus on Capitol Hill is that our corporate taxation system should be dealt with first. And most lawmakers seem to think that the 35 percent top business tax rate is too high. Relatively high American corporate taxes, however, don’t appear to be getting in the way of executive

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Tags: tax, Taxes
Tuesday, August 30, 2011 9:44 am
By Kay Bell · Bankrate.com

Rep. Ron Paul, officially a Texas Republican, says the Federal Emergency Management Agency, or FEMA, “is not a good friend.” Paul, who’s trying (again) to get the GOP presidential nomination, thinks Uncle Sam should just get out of disaster relief and management. Paul’s colleague, House Majority Leader Eric Cantor, stopped short of calling for an

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Tags: tax, Taxes
Friday, August 26, 2011 4:34 pm
By Kay Bell · Bankrate.com

Holders of foreign bank accounts can thank Hurricane Irene for one thing. Due to the potential impact of Hurricane Irene, the Internal Revenue Service has extended the due date for Offshore Voluntary Disclosure Initiative, or OVDI, requests until Sept. 9. This is the IRS’s latest effort to find out about and collect on offshore accounts.

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Friday, August 26, 2011 2:40 pm
By Kay Bell · Bankrate.com

It’s no secret that there are few boundaries in the financial world. European banks have branches in the United States. China is America’s largest creditor. U.S. taxpayers owe the Internal Revenue Service on all their global income. What? You say that last one, about your income being taxed regardless of where in the world it

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Thursday, August 25, 2011 11:19 am
By Kay Bell · Bankrate.com

When I was a kid, the big government bugaboo was welfare. President Bill Clinton and a Republican Congress revised that system 15 years ago. Since changes to the program, welfare caseloads have dropped by 57 percent nationwide. But Americans still need someone to blame for their and the country’s troubles.  So now it’s all about

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Tags: tax, Taxes
Tuesday, August 23, 2011 1:52 pm
By Kay Bell · Bankrate.com

Classes cranked up here in Texas this week. After Labor Day, kids everywhere will be back in school. Parents of college-age students probably already know they can take advantage of tax credits to help pay those ever-increasing education costs. But there also is some help from the Internal Revenue Service for younger students. The most

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