Taxes

The Nebraska Revenue Committee recently heard LB1264, a bill to modernize Nebraska’s tax structure by reducing income tax rates, repealing the inheritance tax, modernizing the sales tax base, and eliminating most incentives. These reforms, promoted by various Nebraska stakeholders through the Blueprint Nebraska initiative, would substantially improve tax structure and competitiveness. Once fully phased in,

With gas prices soaring in March, Florida is preparing to give drivers a gas tax holiday—in October. A cynic might wonder why the gas tax holiday aligns so closely with election season (lawmakers cite other reasons), but in many respects, the timing is the least of the issues with Florida’s pending suspension of the gas

*Updated for tax season 2021 and 2022. Buying a home can help lower your tax bill in certain circumstances. In fact, tax breaks for homeownership are a primary motivation for many people to buy their own homes. To get the maximum tax benefit from your home purchase, it’s important to understand what options are available

Last spring the Spanish government named an external tax reform committee to review environmental taxation, corporate tax, taxation of the digital economy, and harmonization of regional tax policies. The austerity policy plans tax hikes to close the 6.8 percentage point gap between Spain’s tax revenue and the Eurozone average as a percentage of Gross Domestic

This year’s state legislative sessions have been characterized by a focus on tax policy, with five states already enacting significant individual or corporate income tax reform. Lawmakers in Georgia aren’t interested in being left behind. While HB 1437 was previously a placeholder bill, the sponsors have now shared their plan to consolidate Georgia’s six individual

Your child has started earning their own money, but you’re still claiming them as a dependent. How will this situation affect your taxes? One of the most common tax questions parents have is if they should report their dependent child’s W-2 on their tax return or if the child should file their own return. Here’s

Working from home comes with many perks. Are tax deductions one of them? Ever since the COVID-19 pandemic made remote work a necessity, teleworking has become the new normal for many American employees. In fact, more teleworkers are now choosing to work remotely and increasingly say they prefer it to working in an office. So,

If you are a U.S. resident who invested in Bitcoin or other cryptocurrencies in 2021, you may have recently received a tax document from the trading platform or cryptocurrency exchange you use and may need to pay taxes. While there is currently very little guidance on the taxation of cryptocurrency, one thing is clearly defined. The

One of the best money moves you can make this year is maximizing contributions to your deductible or nondeductible retirement plan. Whether you’ve contributed all year or have yet to start, here are a few tips to get the most from tax-advantaged retirement plans. 1. Know your contribution limits. Try to contribute as much as the

I-R-A. Who knew three letters could be so daunting yet yield so many benefits for our financial lives? IRA stands for Individual Retirement Account. And if you’re like most people, you likely think it sounds like a fancy investment tool that is reserved for people with loads of money and an unattainable level of financial

Throughout the first year of the Biden administration, one tax policy theme was consistent. The President and Treasury Secretary Janet Yellen were focused on increasing the tax burden on U.S. companies—particularly multinational companies.  As Secretary Yellen put it last year, “It is about making sure that governments have stable tax systems that raise sufficient revenue

“Frothy eloquence neither convinces nor satisfies me,” the 19th century Congressman Willard Duncan Vandiver allegedly declared. “I am from Missouri. You have got to show me.” In the realm of tax policy and economic competitiveness, lawmakers from the Show-Me state are turning the old adage around. They are showing the rest of the nation how