Topic: Income Taxes

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Facebook stock: 6 intriguing investors

Facebook stock will make many people suddenly wealthy when it begins trading this Friday. The company is expected to be valued somewhere around $100 billion, with stock expected to sell anywhere between $34 and $38 per share. Here are six of the more unexpected people set to make a killing with initial public offering of Facebook stock, including a rock star, a graffiti artist, and pair of Mark Zuckerberg’s enemies.
Seven retirement questions you need to answer

Retirement planning isn't easy. Nearly half of Americans don't feel financially prepared to live to age 75, according to a survey from Northwestern Mutual. But the process is a lot less burdensome if you break the task down into simpler parts. Here are seven questions to ask as you plan for your long-term financial security in retirement.
10 weirdest global fast foods

In the US, fast food can get pretty predictable: Burgers, fries, chicken, and a taco or a fish sandwich, if you’re feeling adventurous. Leave it to our international brethren to show us how to loosen up and live a little. Take a look at ten wacky fast food items from around the world.
Tax day: 8 top tax breaks for parents on tax deadline

As tax deadline looms, parents are looking for as many tax breaks as possible.
Briefing
Buffett rule: Five questions about Obama's plan answered

President Obama wants a proposed "Buffett rule" to make sure that millionaires pay at least a 30 percent federal tax rate. Here are five facts that shed light on the Buffett rule and the debate surrounding it.

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Consumer Energy Report
Oil subsidies: Surprise! Liberals are fans, too.

When asked if the federal government should eliminate subsidies for oil companies, most would respond with a resounding 'yes.' But such a policy would have unwelcome unintended consequences, and not just for billionaire oil tycoons.
Tax VOX
New online tool to help families maximize tax, transfer benefits

State taxes and transfers can be an important, albeit complicated form of assistance for low-income families. A new interactive calculator aims to help guide families through the process, including the options when family income increases.
Decoder Wire
Is Congress broken? Startup Act shows what can work.

The Startup Act is a modest piece of pro-business legislation unveiled Tuesday. It won't change the world, but that's why it may pass. In a partisan Congress, 'good' may be better than 'perfect.' 
Robert Reich
Mitt Romney's skewed praise of Bill Clinton

Mitt Romney has been praising Bill Clinton even as he heaps scorn on Obama, trying to associate himself with someone more popular and court the white male vote. It might backfire.
Your employer may be pocketing your state income tax

Sixteen states now allow corporations to withhold state income taxes from employees and keep the money as an incentive for a business to locate to or remain in a state. That means that, in effect, employees pay personal income tax to their company rather than their state government.
Facebook stock: 6 intriguing investors

Facebook stock will make many people suddenly wealthy when it begins trading this Friday. The company is expected to be valued somewhere around $100 billion, with stock expected to sell anywhere between $34 and $38 per share. Here are six of the more unexpected people set to make a killing with initial public offering of Facebook stock, including a rock star, a graffiti artist, and pair of Mark Zuckerberg’s enemies.
Economist Mom
How to make the Bush tax cuts work

The expiring Bush tax cuts would be worth more than $2.8 trillion over 10 years Instead of complaining about the size of the cuts and not doing anything constructive about it, policymakers ought to commit to using that size in a positive way.
Seven retirement questions you need to answer

Retirement planning isn't easy. Nearly half of Americans don't feel financially prepared to live to age 75, according to a survey from Northwestern Mutual. But the process is a lot less burdensome if you break the task down into simpler parts. Here are seven questions to ask as you plan for your long-term financial security in retirement.
Tax VOX
Five challenges for the IRS's new capital gains reporting rules

The new rules for reporting capital gains is a laudable aim, but the IRS faces a number of challenges to make this initiative work.
Tax VOX
Why do Obama and Romney pay the taxes they pay?

Romney pays a much higher rate than the President, even though he makes far more money. Here's why.
Tax VOX
Tax reform goes local. What's the effect?

The need for fundamental federal tax reform is critical.  Often overlooked, however, is the fact that any such reforms will also affect the tax and fiscal policies of state and local governments.
Tax VOX
Is the Buffett rule a step in the right direction for tax reform?

A better answer would be to close the loopholes that help the wealthy avoid paying higher taxes, but some argue that a minimum tax like the Buffett rule might be a good start.
Tax VOX
Tax Day: How easy filing makes the tax code complicated

Our current insanely complex tax rules are made possible by technology. Yes, computer software makes filing easier, but that may be the problem.
Why recall target Gov. Scott Walker is taking his message to Illinois

Wisconsin Gov. Scott Walker is facing a recall, but he still found time to visit Springfield, Ill., Tuesday to take on one of his favorite targets: Illinois' $8 billion budget deficit.
Last-minute tax filing mistakes: 11 things to avoid

Last-minute tax filing can lead to plenty of costly mistakes. If procrastination got the better of you this year, here are 11 last-minute tax filing blunders to avoid.
Decoder Wire
Tax day at White House: Obama gets big refund. Is that normal?

The IRS owes Barack and Michelle Obama $24,515. The majority of known presidential tax returns have resulted in refunds, with the interesting exception of the year before or after an inauguration.
Tax Day freebies: Get free Arby's, Cinnabon, and more

Tax Day freebies are being offered by several restaurant chains in honor of the April 17 filing deadline. Here is your comprehensive list of tax day freebies.
10 weirdest global fast foods

In the US, fast food can get pretty predictable: Burgers, fries, chicken, and a taco or a fish sandwich, if you’re feeling adventurous. Leave it to our international brethren to show us how to loosen up and live a little. Take a look at ten wacky fast food items from around the world.
Tax day: How to remind Americans that paying taxes is a conservative value

To help create a political climate in which Americans can talk sensibly about taxes, let's start with kids: It’s time to make The Tax Talk with our kids just as much a part of our culture as The Sex Talk or The Drugs Talk.
Economist Mom
The rich should pay higher taxes. So who are the rich?

If 'the rich' are defined as those who can afford and ought to be expected to pay higher income taxes, then the categorization is really much broader than multimillionaires. 
Modern Parenthood
Tax Day history: musings on the eve of the tax deadline

Over here at Modern Parenthood, we admit that our reaction to the tax deadline is not to sit back and reflect. But that's why we love the musings of guest blogger Susan Sachs Lipman, and her "slow family" approach, even to Tax Day.
Mitt Romney's big plans overheard, showing why he's Mr. Cautious

In public, Mitt Romney sticks to generalities. But in private remarks overheard by reporters, he floated details of what a Romney presidency might look like. Now he may be even more cautious.
Tax deadline: Why you get until April 17 this year to file your return

The tax deadline for filing 2011 federal income tax returns comes two days later than usual. For this, last-minute filers have President Lincoln to thank.
Change Agent
Obamas gave 22 percent of their 2011 income to charity

The biggest Obama charitable gift went to the Fisher House Foundation, a group that provides free or low-cost housing to military personnel or their families while they receive medical treatment.
Decoder Wire
President Obama releases tax returns. Does he have to make them public?

The Obamas paid more than $162,000 in federal taxes on income of $789,674. The custom that presidents release their tax returns dates to the Nixon administration.