Normally, tax related articles and studies are completed prior to April each year as most state and federal income tax bills are due at that time. Coronavirus has changed that given the delayed deadline in filing personal federal income taxes to July 15th, with some talk of extending that another three months. Taxes, just like …Read more
Taxes can be a material component in the cost of living, depending on where people reside, how much they earn and what deductions are available. While some states have comparatively low taxes for all levels of income, others vary based on income levels. As usual, I invoke the TINSTAANREM axiom — There Is No Such …Read more
Just as words have meaning, taxes have economic ramifications. This annual blog on the Best State Tax Business Environments begins as it commenced and ended each of the past two years in the prior sentence . Each state varies in one form or another in how much services their government provides and how those services …Read more
There are only two things that are inevitable – death and taxes. Good news is this blog is about the latter of the two. Just as there are a number of things that can impact health, there are also multiple taxes that cannot be avoided. While property taxes are the primary revenue source for state …Read more
The new limit from the Tax Cut and Jobs Creation Act of 2017 places a renewed focus on State and Local Income Taxes, given the $10,000 limit on combined deductibility on State and Local Income Taxes, Property Taxes and Retail Sales Tax on individual’s Federal income tax filings. While State and Local Income Taxes are …Read more
The Tax Cut and Job Creation Act of 2017 (Tax Act) no doubt will lighten the Federal Tax Burden for the majority. The USA Today reported on January 16th of this year that a study by Motley Fool found that 90 percent of people would likely have greater take-home pay in 2018, assuming the same …Read more
While a great amount of press and studies are done on things that are most expensive, there is also the other end of the economic spectrum, i.e. things and places that are the most affordable. When it comes to real estate we always talk about affordability, which in itself is difficult to express in a …Read more
As cold grips much of the U.S., what better a time to think about warm sunny beaches this coming summer. Given most people’s budget limitations, however, cost is a major criterion. Where are the most affordable places in the U.S. to own a house in a beach town? And to do so without breaking the …Read more
Property taxes can be a significant economic expense for homeowners and businesses alike, but they range from very low (0.28 percent per year of market value in Hawaii) to what I call obscene (2.13 percent in New Jersey), based on a study completed by the National Association of Home Builders. Given the 2017 Tax Cuts …Read more
This annual blog begins as it was ended last year: Just as words have meaning, taxes have economic ramifications. Each state varies in one form or another in how they fund state government and also in how much government they fund. Big government requires big funding, and vice-versa. As usual, I invoke the TINSTAANREM axiom …Read more