Taxes
Latest Taxes News
What Is a Flat Income Tax and How Does It Work?
A flat income tax system is one where everyone is taxed at the same rate, no matter how much money…
Golden Bachelor Wedding Sparks Conversations About Gray Divorce And Its Financial Consequences
On Jan. 4, 2023, 72-year-old widower Gerry Turner and star of ABC's "The Golden Bachelor" married 70-year-old widow Theresa Nist.…
What Is a Graduated Income Tax?
A graduated income tax is the same thing as a progressive income tax system, where you pay a larger percentage…
California Is Becoming The North Korea Of Taxation—And Things Are Only Going To Get Worse
California is just about the most overtaxed state in the nation. But too much is never enough for its politicians.…
Do I Have to Worry About the Gift Tax If I Give My Son $75,000 Toward a Down Payment?
Unless you have given away more than $13 million in your lifetime, a $75,000 gift will not trigger the federal…
IRS Touts Improvements And Chases Delinquent Millionaires As Tax Season Opens
With tax season just around the corner—officially opening on Jan. 29, 2024—the IRS is continuing to focus efforts on increasing…
How Does the IRS Verify Cost Basis?
The IRS expects taxpayers to keep the original documentation for capital assets, such as real estate and investments. It uses…
Tax Refunds Creep Towards $100 Billion As Tax Filing Season Marches On
The IRS officially opened tax season more than a month ago—on January 29, 2024—and as the days have ticked by,…
Five Medical Expenses You Can Deduct on Your Taxes
Taxpayers can deduct medical expenses by itemizing them on their taxes. However, these deductions may be out of your reach…
BOXX’s Tax Gimmick Violates Congress’ Rules On Conversion Transactions
Bloomberg recently reported on an exchange-traded fund (ETF) with the ticker symbol BOXX. The ETF exploits various tax rules to…
