All posts in Tax News

Wealthy Face Crushing Taxes in California

Residents of California face heavy income tax burdens.  The federal tax rate on income over $400,000 ($450,000 for joint filers) rose from 35 percent to 39.6 percent for the 2013 tax year and beyond.  The Affordable Care Act imposes a […]

Some on the Left Acknowledge Rich’s Tax Burden

High-income taxpayers face the steepest effective tax rates they have in decades, according to the Congressional Budget Office.  The left-leaning Tax Policy Center estimates that families in the top 20 percent of income-earners will pay more than 27 percent of […]

New Basis-Reporting Laws Make Life Easier for the IRS

When people sell shares of a stock, they must figure out their cost basis in the shares they sell so that they can calculate the gain or loss on the sale.  Determining the basis of the shares sold can be […]

Estate Planning Must Account for Family Dynamics

An often-overlooked aspect of estate planning is how family relationships and goals affect a family business and related succession planning.  The owners of a family business may reach the point at which they consider retirement or a reduced role in […]

Texas Tax Incentives: Conflicts of Interest?

Texas has no state income tax and as a result relies heavily on revenue from sales and property taxes.  Despite this reliance on sales and property taxes, Texas offers many property and sales tax breaks for companies that develop their […]

Reid Seeks More Tax Revenue; May Target Energy Industry

In January, a host of tax increases went into effect, especially on high-income Americans.  Income tax rates went to 39.6 percent in the highest bracket, capital gains and Medicare tax rates increased for high-earners, and increased payroll taxes hit all […]

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