As part of a regular series, I’m instituting “Fix the Tax Code Friday!”
Everybody in the US (and beyond) seems to agree that the Tax Code is broken. What we can’t seem to agree on is how to fix it. Here’s your chance to offer your two cents…
This week’s question:
What expense, currently not deductible under the Tax Code, would you make deductible?
Most individual taxpayers are on a calendar year for tax purposes – and that just wrapped up on December 31, 2006. Business taxpayers, however, may elect to choose their own tax year if there is a business purpose for the election. So, today’s Fix the Tax Code Friday question is: Should individual taxpayers be allowed…
When Congress first introduced the wacky legislation that is the current federal estate tax situation (an exemption that gradually rises to $3.5 million per person, is eliminated in the year 2010 and returns in 2011 to its “old self”) most folks assumed we had plenty of time to fix it. 2010 seemed years away. Now,…
The latest point of contention in the “will they or won’t they?” session of Congress is whether to extend tax cuts to the “rich.” There seems to be a lot of discussion about what constitutes rich. Some in Congress have indicated that taxpayers making more than $200,000 per year are rich with others suggesting $250,000…
We are a Mac household. And a Mac family. Before you judge, rest assured that it wasn’t that cute Justin Long that influenced our decision. We were all-Mac before it was cool. My husband was a Drexel grad back in the 1980s when Drexel standardized the Apple and has been addicted obsessed hooked a fan…
Fix the Tax Code Friday is back! This is your chance to sound off about tax policy – and propose how you would fix the Tax Code if you were in charge… One of the heavily criticized pieces of the economic bailout package is the extension of the debt forgiveness exemptions for mortgage cancellations. Here’s…
It’s Fix the Tax Code Friday! And it’s been a long tax week for many of us. So, with tax returns fresh on your mind, I thought I’d ask my readers the same question that I ask my GTKYT tax pros: If you had the opportunity to make one change in the tax code tomorrow…