Taxes

Can a 1031 Exchange Be Structured With a Short Sale? I get asked this question all the time.  Can a real estate investor going through a short sale transaction also structure and complete a 1031 exchange transaction in order to defer the payment of their depreciation recapture and capital gain income taxes resulting from the short sale transactoin.  This is really a fantastic questi

  Thank you to my friends & readers who have surpassed 10,000 visitors! Amendment 1 is of interest and I’d like you to be educated on what benefits may apply when buying and selling Miami Beach real estate. Amendment 1 was passed by Florida voters about 6 months ago which assists seller’s in today’s real [...]

While speaking with a potential client in California, I was surprised to discover that she was making plans to move to Honolulu. Apparently, Californians are being taxed at such a level that many are looking for states with a more bearable overall tax structure. I found it interesting that she would consider Hawaii a more

The European Union Parliament voted earlier today to include airline emissions in their greenhouse gas emissions reduction program.  The act, to begin in 2012, would allow the airlines to purchase carbon credits to offset their emissions.  In addition, each airline would be required to reduce carbon emissions by 3% in 2012 and 5% per year [...]

Everybody tries to earn profit, but sometime even best of effort produces losses. Income Tax Act has provisions to adjust the losses from one head to another , within own head and if losses still remain, facility of carry forward to specified years and adjusting in any future years . These provisions are contained in Chapter VI of the I T Act titled "Aggregation of Income And set off or carry for

As the “rumble of hauliers’ discontent gets louder with warning of strikes ” I thought I’d take a quick look at what makes petrol so expensive: When we pay for petrol and other oil products, we look at the price and then blame the garage for making it so expensive. But where does the money we [...]

'Clearing out a few notes of advice before the start of the new week...Disclaimer: This essay describes my personal knowledge and experiences with cross-border finances. It is not intended to substitute for getting personal advice from a professional advisor. Getting started, I also recommend reading the US-Expatriate-Handbook, available on-line from the West Virginia University College of Busin

John and Cindy McCain on the campaign trail in New Hampshire. (Photo by Flickr) John McCain hates taxes so much he just doesn’t pay them. When you’re John and Cindy McCain rich you have so many houses that you “forget to pay” your taxes on one of them. According to Newsweek, John McCain has not paid taxes on his La Jolla, California beach front home for the last 4 years. Newsweek

We have known a few people that have taken advantage of the land conservation tax credit program in New Mexico. If someone has some land to donate and would like to bring down their tax burden, this is a great way to go. IHere is a link to the program details from the states website... is the press release...ABQJOURNAL NEWS/STATE: Land Conservation Tax Credit Program Updated: "The state has inc

You've heard that old joke about "death and taxes" being the only two things that we can't avoid in life; and though this may be true, at least we can make one of these things a lot less stressful by...

Different types of Mutual Funds attract different types of taxes. Here is all you would want to know about taxes applicable on Mutual Funds in India. Taxation Equity Funds Liquid funds/Money Market Funds Debt fund/liquid plus Funds Short Term Capital Gain Tax *16.995% As per Income Tax Slab As per Income Tax Slab Long

Every high school has that guy. You know, the guy you claim to hate because you secretly want to be exactly like them. That guy who’s seemingly great at every sport, everyone seems to love, and never seems to be trying hard at any of it. You survived all this knowing that one day, you’d leave high school and they’d be just as small as you in that larger, post-graduation world you were enteri

The time has come for the homeowners in Indianapolis to realize the effect of the “stay” on taxes ordered last year by Governor Daniels. Almost one year ago, the uproar over tax bills could be heard throughout the city of Indianapolis as homeowner after homeowner opened their 2006 tax bill. Trending had reached into the pocketbooks

Investors who own properties that have appreciated significantly and investors who have written off a portion of an investment that has depreciated, both face a similar problem when considering making a sale: capital gains taxes.  Those with properties that has increased in value may face large capital gains taxes on the property's increased value, and others will be faced with a de

Investors who own properties that have appreciated significantly and investors who have written off a portion of an investment that has depreciated, both face a similar problem when considering making a sale: capital gains taxes.  Those with properties that has increased in value may face large capital gains taxes on the property's increased value, and others will be faced with a de

by Paul BartlettOn April 7, 2008, the Winona Daily News printed a letter from me regarding Norm Coleman's hypocritical stance on property tax relief. On April 13, 2008, the same newspaper printed a pathetically lame response from Tom Erickson, a guy who is apparently connected to Coleman and Coleman's campaign.I'll repeat my assertions: Coleman received big time limited market value discounts

I know, I know.  This post is straying from the topic of investment real estate.  However, it is actually related to real estate more than you might realize.  I have met so many real estate professionals over the years that have incredible internet properties holdings (i.e. a portfolio of internet properties, web sites or domains).  These internet properties can actua

“I’ve paid into the social security monstrosity since 1963… Anyone want to give odds as to whether I’ll ever see some Social Security funds returned?” — Russell McDougal by Russell McDougal, Investor’s Daily Edge Baltimore – (TFN): Most likely your property values are falling. If your income is rising, it [...]

When it comes to doing your taxes, one question that most people have asked themselves at some point is, “Should I do my own taxes or hire an accountant?” When I first started filing tax returns they were very basic and I used to do them myself. However once I started working full time, investing and undertaking further education I started using an accountant to file my taxes. They make life m

Although the IRS website was careful to note that the rebate checks would be withheld to satisfy federal obligations, checks are being seized by states in order to satisfy past due state income tax obligations. The seizures are part of the Treasury Offset Program (TOP). Under TOP, states may enter into agreements with the IRS [...]

Was doing my usual weekend catch-up on the blogosphere and seems there is, predictably, a lot of talk about carbon taxes as of late. You have heard most of the arguments from both sides already (and really, until Dion puts out the specifics of his plan most of the arguments against aren't really based on much more than hot air). So aside from all the usual noise, two items really caught my eye:1)

The media is actually right this time.  This election really will matter.  There are significant differences between Senators McCain and Obama when looking at income tax policy.  Changes in income tax policy should be a major concern for all of us since we are all connected to the real estate industry in some form or fashion.  The changing of the guard this January may result i

The media is actually right this time.  This election really will matter.  There are significant differences between Senators McCain and Obama when looking at income tax policy.  Changes in income tax policy should be a major concern for all of us since we are all connected to the real estate industry in some form or fashion.  The changing of the guard this January may result i

On all purchase/sale of property in Thailand there is a stamp Duty of 0.5%of the assessed value of the property, a transfer fee of 0.01%, a business tax of 0.11% levied against an owner who has been in registered possession...

If you an employer you must pay employment taxes if you have employees. Fail to pay and the IRS will rain all over your parade.SanctionsIf you have employees, you absolutely must deduct and withhold taxes from the paychecks several of your employees. Since you are deducting the money from the employee paycheck, you are handling their funds. This fact is of great importance for the IRS and it will

Excerpted from the new book, "How Do Space Age Work with a Stone Age Brain" TMThe full article with pictures and sample Auto Log is available at www.organize.comEach year U.S. companies lose millions of dollars in the productivity of the workers who ultimately take their own free time to do their taxes. Whether you want the submission of paper from only one W-2 or with several companies, streamlin

In the 1812 years is the first attempt to impose a tax on income Americas occurred during the War. After more than two years of war, the federal government owed an unbelievable $ 100 million in debt. To pay for this, the government doubled the prices of its main source of revenue, customs duties on imports, which hindered trade and eventually less revenue than the previous lower rates.And to think

If you have filed for bankruptcy or are planning to, you should know there is a mountain of paperwork involved.  You will need IRS help to figure out the taxes and methods of calculation for taxes you will owe as a result of filing for bankruptcy.  Fact: filing for bankruptcy does not mean you won’t owe any taxes for that year. (...)

Is this scene sound familiar? It is 6 June. You have not seen the top of your dining room table in two weeks as a result of the poles of the paid invoices, receipts, canceled checks, and unidentified cash register receipts covering it. Your head pounds and your stomach buses as the countdown to 15 april begins.You might hate to pay taxes, think the system is unjust, find the forms, and even a mini

by Nina Rothschild Utne War tax resistance is far from a new idea. But there is a bold initiative brewing that has an elegantly simple new angle: There is safety in numbers. The idea is to get people to sign a pledge that they will engage in civil disobedience by withholding a percentage of their taxes, but only if a critical mass of 100,000 signers is reached by April 15, 2008. Activists hav

I have a "Clueless Correspondents" category waiting to start - for highlighting howlers in the mainstream press, but Rumbold over at Pickled Politics has forced me to introduce a "Blogger Blooper" category first.

The Earth Times - 03 Jun 2008 Original URL Bangkok - In a bid to curb oil imports and rising inflation the Thai cabinet on Tuesday approved tax cuts on E85 (a bio-fuel mix of 85 per cent ethanol and 15 per cent petrol) and E85-using car models. Energy Minister Poonpirom Liptapanlop said the cabinet had approved his proposal to cut the excise tax on E85 from 3.65 baht (11 cents) per litre to 2.75

Taxes should not be taken for granted in any real estate transaction. Sales tax is usually the obligation of a merchant to collect from the buyer and remit it to the state. In real estate sales, buyers pay for property transfer fees and other obligations while sellers pay some amount for a capital gain tax. [...]

Poor Market Is Not Likely To Lower Property Taxes: "With a declining housing market and some evidence of lower home prices, New Mexicans might expect some relief on their property tax bills.Wrong.Bernalillo County Assessor Karen Montoya said Thursday that the information her office will use to reassess houses for next year's bills comes from data gathered in 2007.That means lower home prices won't

Poor Market Is Not Likely To Lower Property Taxes: "With a declining housing market and some evidence of lower home prices, New Mexicans might expect some relief on their property tax bills.Wrong.Bernalillo County Assessor Karen Montoya said Thursday that the information her office will use to reassess houses for next year's bills comes from data gathered in 2007.That means lower home prices won't

marketing*To Quickly Slash Your Tax Bill either new or back taxes Legally, Ethically complying taxact. Get your tax debt solutions or tax debt help for tax relief without employing tax lawyer or tax debt relief consultant. With No Fear Of An IRS Audit , irs problem or irs offer in compromise.Get this online taxes Internet's Leading Tax Reduction or tax cut. Expert reveals just how easy (and legal

Sign Rep. Eric Cantor's Petition Against High Gas Prices!A Gas Tax HolidayQuick Quiz: What do these three things have in common?A four-leaf clover, a winning lottery ticket and a US Congressman who's in touch with economic reality.Give up?Name three things that are rarely encountered. We're not sure about the probability of the first two, butCongressman Eric Cantor (R-VA) is organizing a protest a

Many Edmonton property owners found a gift of the 2008 tax assessment in their mailbox this week. Although the heavy envelopes probably weren't met with squeals of glee they will certain be more pleasant than what will hit your mailbox next year. Expect property taxes to increase by at least 9% in 2009"This is … just maintaining existing levels. These are no extra frills. This is where we need

Bed taxes not yet charged on vacation rentalsVentura County Star, CA - 10 minutes agoTwo years since city leaders first endorsed the idea of forcing property owners to register their vacation rentals — and six weeks since the City Council … Original post by nathaniel

Property taxes are a major expense, often forgotten when buying a home. They can cost you thousands of dollars per year. But property taxes are not the same for like properties or owners.Property taxes provide much of the revenue for local and state governments. When property values go up, property tax collections also go up, which means that there are additional dollars for public services and sc

The airline industry has proposed to the Finance Ministry to reduce import taxes on fuel to zero, which would be in line with other import taxes on petroleum products. The industry has also proposed that the Government permit domestic airlines to charge clients extra fees for fuel costs. Rising fuel prices will cost Vietnam Airlines an additional VND2.2 trillion (US$137.5 billion) to operate

Four tips to minimize and effectively manage your investment property taxes this year:1. Claim all deductions and depreciation before June 30 so that you get the expenses back in your tax return. If you buy an investment flat that is new, you can claim 2.5 per cent of the construction costs for the next 40 years2. Obtain a depreciation schedule if you don't already have one as they are tax deducti

I've come across these questions several times in the last few days, so I thought I'd answer them to dispel some intuitions novice investors have.1. If I reinvest my dividends, do I have to pay taxes on them?Whether you reinvest your dividends or not, this decision will never (unless tax laws are changed) affect your taxes. Whether your dividends are taxed depends on what dividends you're talking

The U.S. Supreme Court in a 7-2 decision upheld the central tenant of most state’s municipal bond tax policy, specifically that a state can exempt it’s own muni bonds from taxes while taxing the interest on other state’s muni bonds. So, nothing changes from before. If you live in California, the only way [...]

"Do you think that billionaire Internet moguls should continue to benefit from a tax loophole that hurts parks and schools, and makes it harder for your neighborhood bookstore to keep open for business?For starters, by giving online businesses a permanent advantage over their bricks-and-mortar competitors, it helps those who need it least -- huge, profitable e-commerce companies -- at the expense

Working for Yourself: Law & Taxes for Independent Contractors, Freelancers & Consultants# Author:Stephen Fishman# Format:PDF 1.3MB# Page Count: 368 pages# Publisher: NOLO; 7 edition (February 10, 2008)# Language: English# ISBN-10: 1413307523# ISBN-13: 978-1413307528Be your own boss -- easily, efficiently and successfully -- with this bestseller!Whether you're an independent contractor, freelancer,

Would you accept 1,185,000,000 Tugriks for your company? If you invested in a company, would you accept repayment of your investment and profits in Tugriks? Outside of Mongolia, where the Tugrik is the national currency, the answer would be NO! Acceptable International Currencies Today, there are five major world currencies: the U.S. Dollar, the British Pound, the Japanese Yen, the Euro and the

by Dave MindemanIn a year when a budget deficit would seem to have forced the Minnesota legislature to forego any increases in education funding, the legislature did the near impossible. They crafted a significant increase in funding without any tax increases.....and yet, this Governor is talking veto.Maybe the Governor finds it a little embarrassing that this bill raids the surplus in his pet pr

En réponse à une question qui nous a été posée sur notre site d’agence (www.phuketimmo.com): Il n’y a pas d’impôt exactement équivalent à nos taxes foncières et taxes d’habitation. Les impôts qui s’en rapprochent le plus sont la « Land...

Tax officials have a message for Rev. Al Sharpton: pay up. The IRS has filed personal liens against Sharpton totaling nearly $1 million (the actual value of the lien as of last spring was $931,397). Sharpton also owes nearly $365,558 to the City of New York for unpaid personal income tax; his [...]

This question was asked to us on our agency web site: www.phuketimmo.com There are no property taxes as such in Thailand that are exactly equivalent to the property taxes in the west, however, the most comparable taxes on properties in...

North Carolina is joining a number of states in deciding that increasing the tax on alcohol is a good way to balance its budget.North Carolina Gov. Mike Easley has made a $21.5 billion budget proposal and wants to boost taxes on beer, wine and spirits to help pay for the 4.2 percent hike in spending.Gov. Easley say the 4 percent tax increase on alcohol would provide $68 million to fund mental heal

Democrats are still under the impression that lower taxes are what caused the mild, fully employed slowdown this year. How, exactly, will raising taxes while spending more help the economy? I don't mind being "on my own" if the one I throw my lot with is the federal government. And, I'm not on my own, if you think about it. I have my family, friends. Change means thousands out of your pocket to gi

- Scott Miller “Can we raise capital gains taxes… YES WE CAN”. What kind of presidential candidate responds to a question about raising capital gain taxes by saying “That’s not fair!”? That was just part of Barack (I’m a Lover Not a Fighter) Obama’s childish response to a debate question on the issue. The rest of his [...]

ROME (Dow Jones)–Italy’s newly appointed economy minister, Giulio Tremonti, Saturday said the country’s banks would have to pay higher taxes unless mortgage costs for families are reduced. “Banks and oil companies must start to make some sacrifices,” Tremonti said during the recording of a state television show to be aired on Sunday, when asked who would have to make

Your property taxes are based on the millage rate (property tax rate calculated per thousand) and your annual property tax assessment.  Estimates for 2008 property taxes are based on the 2007 millage rates until the new millage rate is determine...

Oh man it doesn't get much better than this: Al Sharpton, the self-professed minister and so-called champion of civil rights, owes the federal government $1.5 million in back taxes, the AP reports after an extensive investigation into his records. You have to read this one if you're a fan of Sharpton as I am. Click here for the story.

REDUCING REAL ESTATE PROPERTY TAXE IS FREE! Every homeowner in Sacramento County, Placer County, El Dorado County and Yolo County need to be aware of the latest scam. I can’ t believe all the people who stoop so low to take advantage of people. Listen up, this is really going on and just in case you missed this [...]

Rep. Terese Berceau is being urged to reintroduce a bill to increase the tax on a barrel of beer in Wisconsin from $2 to $10.The Marathon County Board of Health approved a draft resolution supporting the tax hike approved a draft of the resolution Tuesday that would call for an increase to pay for alcohol treatment, prevention and enforcement. Wisconsin has one of the lowest taxes on beer in the country. During the last session, legislators decided not to act on Rep. Berceau's bill and it died when the session ended.

RedState.com has recently endorsed Tom Rooney in Florida’s 16th Congressional District and in the process, has done a complete hack job on Gayle Harrell and her impeccable record. The most baseless and despicable attack is directed at her record on taxes… We found her to be less consistently conservative and more prone to support tax [...]

If you have a vintage Honolulu home, you may qualify to have it put on the historic register. The Hawaii Historic Foundation is a non-profit that helps to identify and preserve historically significant buildings. The benefit to residential home owner is that you can reduce your property taxes. To determine if your [...]

That Damn Republican President Cut Taxes for the Rich... (and you)Taxes under Clinton 1999Single making 30K - tax $8,400Single making 50K - tax $14,000Single making 75K - tax $23,250Married making 60K - tax $16,800Married making 75K - tax $21,000Married making 125K - tax $38,750Taxes under Bush 2008Single making 30K - tax $4,500Single making 50K - tax $12,500Single making 75K - tax $18,750Married making 60K- tax $9,000Married making 75K - tax $18,750Married making 125K - tax $31,250Data from 't worry; we'll kick his @$$ out and have a Democrat in office soon who will FIX all this mess.

Product Description Disputes over valuation issues fill the court's dockets and for good reason, fair market valuations are required frequently by the law. The authors believe that approximately 243 sections of the Code and several thousand references in the Regulations explicitly require fair market value determination. Consequently, taxpayers file an estimated 15 million tax returns each year

By Sheila Bingham An ag exemption on acreage can reduce your property taxes on rural property. One of the qualifications for a property to be tax exempt is that it is used for agriculture for at least five of the previous seven years. Other qualifications for an ag exemption are: 1. Land must be principally [...]

California Assemblyman Jim Beall, wants to raise the tax on beer. That's nothing new given the recent movement by a number of states to balance budgets one drink at a time. What is new is that Rep. Beall's tax takes a pretty big bite, going from 2-cents a can to 30-cents a beer.The 1,400 percent increase would mean the new tax on a six pack would be $1.80. It could raise $2 billion for the state's treasury.Rep. Beall says that the tax hike would go to cover the costs that beer has on society. In order for the bill to become law, it would require a two-thirds super majority vote of the California legislature and it would face a public referendum. The anti-alcohol Marin Institute has praised the proposal, while the College Republicans at San Francisco State University launched a protest aga

ROME — Many Italians’ attitude toward taxes runs something like this: Why should I pay if no one else does? Evasion is so common that landlords often demand two leases: one private with the actual amount expected, the other far lower and submitted to the authorities. Both, bafflingly, are vetted by lawyers.But for a few hours this week, all was laid bare with a technological bluntness unaccustomed here. The departing government of Romano Prodi, the center-left prime minister, on Wednesday posted the returns for all 40 million Italians who paid taxes in 2005.The Web site was instantly jammed to the point that few could actually see the data, but enough leaked out, with people spying on their neighbors and the rich and famous alike. By some accounts, the fashion designer Giorgio Armani p

This is a jam packed post covering a few items. Firstly I would like to proudly announce that I have passed the 100 subscriber mark (hence the century reference in the title) as you can see from the subscriber counter in top right corner of the site. This was one of my mid year goals I was fortunate to achieve a few months early - so thanks to everyone who subscribed and if you haven't joined the 100+ other subscribers you can do so by clicking here. Now back to work. Here are 2 pertinent reader questions I received in the last few weeks. Sorry for the delay in getting back to the readers who submitted this, but my day job has been keeping me busy.Question 1: I wanted to ask if you could do something on choosing shares in a super funds. We have over $100,000 invested in super with 70% in s

 Cross posted on Grizzly Groundswell  I am not even going to bore you again here with the details of New Hampshire’s budget woes other than to say that liberal Governor John Lynch vastly outspent the state’s incoming revenue by a projected $200 million plus. If you are so inclined you can read more about New Hampshire’s [...]

You can give any person $12,000 a year without any gift tax consequences. This annual gift exclusion is now indexed for inflation and be increasing periodically in $1,000 increments. If you are married, you and your spouse can each give...

When I moved here one of the financial mysteries for me were the taxes on my paycheck, what would be deducted and more importantly how much should I withhold to meet my tax obligations. I learnt the importance of understanding this the hard way with a hefty tax bill, due to not withholding enough taxes during the year. Luckily I had sufficient funds to pay the tax liability and there was no fine as this was the first year I owed taxes. If I owe taxes again next year, there will be a $300+ fine. With this in mind, I thought I would summarize my learning experiences around the taxes in ones paycheck and how they are calculated. I work in large Fortune 100 corporation, which outsources it paycheck process to a national payroll company, so I imagine it contains most of the common elements pres

BP (BP) and Shell produced out-sized profits for the first quarter. BP earnings rose to $7.62 billion from $4.66 billion. Over at Shell the numbers were up to... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Property taxes are on the rise across the country as local governments are feeling the effects of the economic downturn. According to an article in the Wall Street Journal, property taxes account for around 40 percent of municipal governments' funding. Falling property values coupled with higher material costs have caused local governments to feel the pinch; they are now preparing to pass that on to homeowners. The article it pointed out a few cities which are working to raise property taxes. One of the largest cities was Memphis, Tennessee. The mayor of Memphis is proposing a 17 percent increase in property taxes, according to the article. This was one of the larger proposed increases, but if this measure actually gets passed, it will surely have a huge impact on homeowners and investor

Ladies and gentleman, I'm going to go out on a limb and say that the American legal system has proven once again to be one of the biggest jokes in history. I'm pretty sure other countries have had a good laugh at us in regards to last weeks most popular court verdicts.First we have Wesley Snipes standing before the courts in Florida, with $5 million dollars in hand, as a good faith gesture for his delinquent tax bill.Now, let me be the first to say, I AM NOT A FAN of Mr. Snipes and I also believe that if I have to pay taxes, so should he. Every time I see the amount of taxes taken out of my paycheck I want to cringe, but it's one of those necessary evils that the government will not let go and never will.In any event, Wesley Snipes received the maximum sentence that the courts could impose

If you’re like me, every year at about this time, you make a vow that the next tax year will be different. If you’re like me, you’re also six feet six inches tall, an incorrigible wise-ass and think you’re way cooler than you actually are. For the purposes of this discussion, though, we should probably [...]

For those of you that don't know, a trial has been going on involving Wesley Snipes and his tax evasion. He somehow frgot to pay the $15 million that he owes in taxes. Today he got the maximum sentence of 3 years in prison. The IRS said they are hoping to send a message that everyone who thinks they can get away with tax fraud is wrong. Which Snipes can certainly attest to at this point. This is Snipes leaving the courtroom after receiving the maximum sentence: He looks pretty damn pleased with himself. You're not fooling me, Wesley. Get the full story here.

She’s living proof that working out and eating right can really pay off.  And Britney Spears isn’t shy about showing off her new bikini body. The “Gimme More” singer was spotted looking amazing on Malibu beach recently, and she’s reportedly lost 20 pounds in the past 30 days.  ...

It looks like that Britney Spears has got herself into a financial mess because one of her Brand companies owes more then $23,000 in taxes for earnings that date back as far as four years. This come a week after Britney learned that she will have to pay her various legal representatives $400,000. The Franchise Tax [...]

Like many Americans, Britney Spears owes money on her taxes. But we're not talking this year. These fees date back to 2004. That was when she was still normal! The State of California is requesting that Brit pay up in the amount of $23,589.17 immediately. Wonder how that fell by the wayside? Brit probably had no idea she owed that amount. Good thing Jamie Spears is the head of the estate so he can get all of her finances in order.

I asked folks on twitter whether or not they believed that Wesley Snipes would do jail time. So far, a resounding “NO” - except for me. My theory is that the judge didn’t appreciates Snipes’ legal maneuverings and that, together with the fact the prosecutors want hard time will likely result in some [...]

Those of you who recently completed the painstaking process of filing your income taxes might want to rethink that strategy next year and instead hire a CPA. According to an article by MSNBC, the average person spends more than $200 and 26.5 hours of their time because of tasks ranging from record keeping and studying the tax law to preparing and sending their tax forms. Obviously those numbers are just averages, and are likely influenced by extremes on both ends of the spectrum, but I think they make an interesting point. Investors in particular are probably better off hiring a CPA than doing their own taxes because their tax returns can get complicated. Keeping up with the latest deductions and changes to tax law is probably better left to professionals anyway. Turbo Tax is great, but

So in buying my new house a year and 1/2 ago, I wasn’t aware of property taxes. And after paying them in my closing costs for the first part of the year last year, I neglected the 2nd half of the payment ending last year, and only realized it when I got the late [...]

"It depends on whether you take a long-term or short-term view... In the short term, experts seem to agree, illegal immigrants tend to receive more in benefits than they pay." However.. "illegal immigrant workers are now providing [social security] with a subsidy of as much as $7 billion a year." (NYTimes)read more | digg story

Viet Nam raised its export tax on crude oil to eight percent from four percent starting from Tuesday, and the export tax on coal was lifted to 15% from 10%, according to the Tax Policy Department under the Finance Ministry. The export taxes on most of metal ores were hiked to 20% from 7-15%, the tax agency said. A 20% export tax is applicable to iron, copper, nickel and aluminum ores

John McCain gas tax | Salon News The U.S. is just now starting to get on board with the idea that we need to fight climate change, and this is just reversing that fight. Basically we're going to reduce the price of gasoline, which means consumers are going to respond by either driving more in the short term or changing how they make vehicle purchases and buying less fuel-efficient cars, because fuel efficiency won't be as important.My regular readers out there will know that I'm in favor of higher gas prices. I often discuss this with my friends, and occasionally at social occasions. Mostly the subject gets changed, or people simply refuse to engage me on this topic. That often surprises me based on the company I keep, which is obviously largely made up of American expats.One would thi