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Drastic reactions to confiscatory taxes Published: Sun, May 27, 2012 The Obama administration wants wealthy people to pay their “fair” share. “Fair” hasn't been defined by him or anyone in his administration. However, we know it translates to paying more earned money to the federal government. Let's explore how wealthy people react to confiscatory taxes. One Facebook... Read More
$67 million in taxes to escape Uncle Sam's grasp in Facebook co-founder's move Published: Fri, May 18, 2012 Eduardo Saverin's spokespeople are adamant the 30-year-old billionaire's decision to renounce his U.S. citizenship has nothing to do with tax evasion and everything to do with wanting to establish a permanent residence in Singapore. Read More
Dividends offer attractive returns, but tax question remains Published: Mon, May 14, 2012 Q. I was thinking about buying some dividend paying stocks, or a mutual fund that invests in them, so I could earn more than I'm getting in interest on my savings. But now I hear that the tax rate on dividends will go up. Should I buy those stocks? A. That's a good question. A lot of investors have been buying... Read More
Understanding the kiddie tax Published: Mon, Jan 23, 2012 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who... Read More
Savage Truth on Money: Understanding the Kiddie Tax Updated: Fri, Jan 14, 2011 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who... Read More
The Savage Truth: Understanding the Kiddie Tax Updated: Sat, Dec 18, 2010 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who... Read More
How to keep the tax man away from your retirement fund Published: Thu, Oct 7, 2010 As the year winds down, many people will start thinking about their tax bill, and so will Uncle Sam — specifically, your retirement fund. Read More
Are the broker's actions a shady deal? Published: Wed, Mar 24, 2010 DEAR BRUCE: I have used your book "House Smart" many times. I have an unusual situation. A relative is selling a 40-acre farm and there are zoning problems. It has been slow to sell. The broker has not brought many buyers. He has worked on deals to sell to developers and change the zoning to residential. Now, the... Read More
How to save money on tax prep Published: Thu, Mar 11, 2010 If you do your taxes yourself, you're in the minority, according to Consumer Reports Money Adviser. The IRS estimates that about 60 percent of taxpayers used a preparer last year. Do-it-yourselfers can take advantage of many online tax-prep tools that offer free trials -- just type "tax-prep software" into a... Read More
Understanding the Kiddie Tax Published: Wed, Jan 20, 2010 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who could... Read More
Understanding the Kiddie Tax Updated: Wed, Nov 18, 2009 Consider this news to be another step in the Tax Accountants Full Employment Act. ?The latest change in the tax law: The "Kiddie Tax" now applies to much older kids! The new tax law puts a crimp in the plans of wealthy parents who had planned to gift highly appreciated stocks to their college-age children, who could... Read More
House passes alternative minimum tax relief Updated: Wed, Dec 19, 2007 WASHINGTON (AP) -- The House voted Wednesday to protect more than 20 million mostly upper-income taxpayers in danger of being slapped with a tax increase averaging $2,300 because of the alternative minimum tax. To help offset the cost, the bill more than doubles the 15 percent tax rate that many private... Read More
GOP loses bid to ax estate tax Updated: Fri, Jun 9, 2006 TODAY IN BUSINESS -- The Senate rejected Republican efforts Thursday to repeal the estate tax, but GOP leaders promised to try again before this election year is over. Senators voted 57-41 to advance the bill, but that was three votes short of the 60 needed to overcome objections from a majority of Democrats... Read More
Stupid investment of the week: Emerging markets mutual funds Updated: Sun, Jun 4, 2006 For many investors, diversification is more than an investment strategy. It's an alibi, an excuse to chase what's hot under the guise of doing something good for an investment portfolio. Over the last few years, that has been particularly true of investments in emerging markets, developing economies that often... Read More
President signs tax-cut extension bill Updated: Thu, May 18, 2006 WASHINGTON - President Bush signed a $70 billion tax-cut bill Wednesday that Republicans hope will help them win votes as they head into the fall elections with worries about retaining control of Congress. Ex-Indian lands get tax incentive Democrats overwhelmingly opposed the legislation, saying the tax cuts... Read More
Tax implications grow with divorce Updated: Sun, Apr 2, 2006 About 36,000 Oklahomans may be dreading the looming April 17 tax deadline even more than usual this year. Based on numbers from the state Health Department, that's roughly how many were granted a divorce last year -- an event that comes with its own headaches at tax time. For starters, many people who receive... Read More
State tax laws change with turning of calendar Updated: Sat, Jan 1, 2005 New state tax breaks for Oklahomans become law today. They were authorized by Oklahoma voters during last November's general election. The benefits include a permanent, lower income tax rate, a capital gains tax exemption and an expansion of the income tax exemption on Oklahomans' pension income. More senior... Read More
Tuning in: State Question 713 Updated: Tue, Oct 26, 2004 Watch the ad The ad says: Voiceover: The politicians are up to their old tricks. This year it's called Question 713. It's really a $200 million tax increase. The politicians want you to think it's all about health care. But as usual they've tacked a whole lot on to 713 that has nothing to do with health... Read More
SQ 713 foes roll out tired strategy Updated: Thu, Oct 14, 2004 RONALD REAGAN was president the last time Oklahoma had a cigarette tax increase. Seventeen years later, the Legislature has asked voters to consider raising the tax again. State Question 713 is one of nine referenda on the Nov. 2 ballot. Polls show it enjoys broad support, which it certainly deserves. But those... Read More
Tuning in: Tobacco tax ad Updated: Thu, Oct 14, 2004 Editor's note: This is one in a series analyzing television campaign advertisements regarding state questions on November's ballot. Watch this ad The ad's sponsor: The ad is paid for by the Vote No on State Question 713 Committee, which is a coalition of tobacco giants Philip Morris USA, R.J. Reynolds and... Read More
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