Tax
Six Reasons Why Trump’s Plan To Delay Tax Filing Won’t Help The Coronavirus Economy
President Trump says he wants to allow “certain” people and businesses to delay tax filing in an apparent effort to stabilize the economy in the…
Read MoreComparison of Cross-Border Effective Average Tax Rates in Europe and G7 Countries
Key Findings Effective Average Tax Rates (EATRs) on domestic and cross-border investment can influence business decisions and overall investment activity. This report provides a summary of domestic as well as cross-border EATRs—for both inbound and outbound investments—among 32 countries in Europe and the Group of Seven (G7) countries. Over the last decade EATRs on cross-border…
Read MoreA History and Analysis of Payroll Tax Holidays
As Congress and the White House consider ways to shore up the economy in the face of a public health crisis, President Donald Trump has suggested suspending the entire payroll tax for the duration of the year. This would cost about $950 billion if the tax is suspended between April 1 and December 31, and…
Read MoreTax season guide to small business expense deductions
BUSINESSADVERTISER DISCLOSURE From the kind of expenses you can – and can’t – deduct to the right rewards card to use to pay for deductible expenses, here’s everything you should know. by Rebecca Lake March 9, 2020 see original article at Creditcards.com Summary Claiming deductions can save your business money on your tax return, but you…
Read MoreCharitable Giving Appears To Have Fallen In 2018, Despite Treasury Claims
On March 3, the Treasury Department put out a press release saying that 2018’s charitable giving “appeared largely unchanged from previous years,” despite a “concern…
Read MoreBiden Would Raise Taxes by $4 Trillion Over 10 Years, Mostly on The Highest-Income Households
Former Vice-president Joe Biden would raise taxes by nearly $4 trillion over the next decade, about 1.5 percent of Gross Domestic Product (GDP). And nearly…
Read MoreWhat Would Income Equality Really Look Like?
Income inequality, and what should or should not be done about it, is one of today’s most hotly contested economic debates. And as such, it’s had a big impact on how the tax policy debate has evolved recently. Sens. Elizabeth Warren (D-MA) and Bernie Sanders (I-VT), for example, have both released detailed proposals to enact…
Read MoreReliance on Social Insurance Tax Revenue in Europe
A recent report on tax revenue sources shows that social insurance taxes—also referred to as social security contributions—are an important revenue source for European governments. Social insurance taxes, as opposed to individual income taxes, are usually levied at a flat rate. The revenue is normally used to fund specific social programs, such as unemployment insurance,…
Read MoreHow Much Does Your State Collect in Corporate Income Taxes per Capita?
This week’s map compares corporate income tax collections per capita among the 50 states. The states with the highest collections are New Hampshire ($582), Massachusetts ($349), California ($315), Alaska ($266), and Delaware ($263). States with the lowest corporate income collections per capita are South Dakota ($37), New Mexico ($44), Arizona ($52), Missouri ($54), and Oklahoma…
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