Congress is expected during the lame-duck session to address "tax extenders," a set of tax provisions (mostly for corporations) that policymakers routinely extend for a year or two at a time.
Instead of making a "deal" on deferment and letting the corporations just keep this money they owe us, let's fix this loophole and give most of this tax money to the 242 million adult U.S. residents. What's left over (and there might be a lot -- as much as $215 billion) can be used to fix our infrastructure and other priorities.
There is a fundamental difference between the privacy of banking accounts and hiding beneficial ownership in order to commit crimes. The benefits of tracking organized crime, terrorism financing and tax evasion far outweigh the risks to privacy and secrecy of accounts, which is already adequately protected by rule of law nations.
This Open Enrollment period is sure to be drastically different than the first. Now that the time is here, it is important that all consumers be aware of the improvements, changes, and increased options available to them.
2014 is quickly coming to a close. Before ringing in the New Year, take December to round out some quick and easy tips to lower your tax obligations and even boost your tax refund. And who doesn't want more money?
According to a March report from the Marchex Institute, there are five states whose residents don't swear much and five states whose residents tend to use curse words a lot. Guess which list Illinois is on?
Government financial regulators can collect -- and make public -- better, more detailed data that give us a clearer picture of how our banking and financial system serves (or fails to serve) the needs of all our communities. This sounds wonky and obscure, but remember: We can't fix what we don't know.
Along with personal and corporate income tax rates, the Tax Foundation ranked sales, unemployment insurance and property taxes to determine the overall ranking. Here's how Illinois ranked in each category.
Besides the ACA, there are a few interesting changes that could affect you when you file that 2014 tax return next year.
Even though many people feel taxes are scarier than speaking in public, for the majority of people, tax-time is the single largest cash windfall of the year. More than 75 percent of all taxpayers get an average tax refund of $3,000 -- nothing scary about that.
Successful entrepreneurs view failure as a momentary set back, not a business-ending event. When you experience failure, realize it's not the end of the world and determine to come back even stronger because of it.
Today, tomorrow, and in all my days before I die, I will be the president of my life despite who I vote to be the president of the United States. I take ownership of my failures and my successes, and I think the country would be significantly changed if we all did across all parties.
There is a real cost of having determined selfishness as a fundamental political principle.
We hear political pundits saying it is a mistake to compromise. It is important to hold firm on principles, but in most instances, it is possible to reach consensus. There are multiple examples, starting with our founding fathers, of people in government that held very firm views on various issues, but made compromises to reach consensus.
Sadly, too many people seem to think campaign ads are news. They fail to recognize the rhetoric, or in some cases the outright lies. In this case, it is easy to spot the slanted and unsubstantiated ideological claim.
Finding money feels nice until you realize that the money was "lost" due to either willful negligence or gross incompetence.