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Tax Deductions

Rand Paul To GOP: Don't Touch Tax Deductions

The Huffington Post | Sarah Bufkin | Posted 11.28.2012 | Politics

Sen. Rand Paul (R-Ky.) had some words Wednesday for Republicans who have proposed to raise revenues by closing loopholes and eliminating deductions --...

'Tis the Season -- Top Five Things to Know, to Do and to Watch For as 2012 Comes to a Close

Mark Steber | Posted 01.27.2013 | Money
Mark Steber

The combination of expiring tax laws and tax policy changes, possible renewed retroactive provisions and last-minute legislative action calls for taxpayers to be extra careful when managing their taxes in order to ensure that there is no money left on the table.

Lindsey Graham: 'I Will Violate The Pledge' Not To Increase Taxes

The Huffington Post | Arthur Delaney | Posted 11.25.2012 | Politics

WASHINGTON -- Several congressional Republicans said Sunday that they would be open to increasing the amount of money the government collects in taxes...

'Tis the Season for Donating Money

Jason Alderman | Posted 01.20.2013 | Money
Jason Alderman

Because half of all donations typically are made between Thanksgiving and New Year's, this is a good time to highlight precautions you can take to ensure your gift has the biggest possible impact, both on the people you want to help and on your own bottom line.

Not All Charities Are Created Equal

Ebong Eka | Posted 01.20.2013 | Money
Ebong Eka

As tempting as it may be to donate funds to another or new charity, not all charities are created equal... and some may even be scams!

Being Generous This Holiday Season Could Lead to Savings at Tax Time

Mark Steber | Posted 01.19.2013 | Money
Mark Steber

While you are donating to charities in great need, be sure to observe the charitable donation tax rules, maximize that tax deduction and do something nice for yourself -- like getting a bigger tax refund for your good deed efforts.

What Expenses Could the Pilgrims Deduct on Their Tax Return?

Mark Steber | Posted 01.16.2013 | Money
Mark Steber

We all know the story of the first Thanksgiving. But what if the Pilgrims had to concern themselves with filing a federal income tax return as we do today? What would they be able to claim as deductible expenses?

How Emergency Rooms Can Save Romney's Tax Plan

James Heffernan | Posted 12.20.2012 | Politics
James Heffernan

If and when the American body politic starts bleeding to death from Romney's tax cuts, all we have to do is to take it to the nearest emergency room, which is legally bound to treat all comers without regard for their ability to pay. That's why I'm for Mitt.

Sam Stein

Top Romney Adviser Challenged Over Studies Supporting Tax Plan

HuffingtonPost.com | Sam Stein | Posted 10.14.2012 | Politics

WASHINGTON -- For the first time publicly, the Mitt Romney campaign was asked Sunday to defend the six studies it routinely cites as supportive of the...

Matt Sledge

Romney Website Silent On Closing Tax Loopholes

HuffingtonPost.com | Matt Sledge | Posted 10.06.2012 | Politics

Wondering which loopholes for the rich Mitt Romney would close to pay for a $5 trillion tax cut? Don't go to his website. A Romney budget, the webs...

Amanda Terkel

GOP Lawmakers Short On Specifics About Tax Loopholes To Close

HuffingtonPost.com | Amanda Terkel | Posted 10.04.2012 | Politics

DENVER -- Mitt Romney refuses to identify which tax deductions and loopholes he would close in order to pay for the tax cuts he would push as presiden...

Romney's New Tax Details Don't Add Up

David Callahan | Posted 12.03.2012 | Politics
David Callahan

Romney's idea of limiting tax deductions should be taken seriously. Romney is on the right track here. The only problem -- and it's a big one -- is that the math on his tax plan overall still doesn't add up.

Jon Ward

Tax Deductions Cap Would Not Hit Employer-Provided Insurance, Mitt Romney Campaign Says

HuffingtonPost.com | Jon Ward | Posted 10.03.2012 | Politics

DENVER -- A comment by Republican presidential nominee Mitt Romney earlier this week regarding how he would overhaul the U.S. tax code set off a back-...

Sam Stein

Paul Ryan On Mitt Romney's Tax Plan: 'We Have Shown How That Works'

HuffingtonPost.com | Sam Stein | Posted 10.02.2012 | Politics

WASHINGTON -- Vice presidential candidate Paul Ryan asserted on multiple occasions Tuesday morning that the numbers behind the Romney campaign's tax p...

Defend the Charitable Tax Deduction

Kevin K. Murphy | Posted 11.27.2012 | Impact
Kevin K. Murphy

It would be a huge mistake to begin tinkering with the charitable tax deduction. Congress should take no action that reduces the incentives to support the critical work of the non-profit sector.

Mittstaken...

Shan Wells | Posted 09.26.2012 | Denver
Shan Wells

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Sam Stein

Romney To Middle Class Ohioans: Don't Expect Too Much Tax Relief From Me

HuffingtonPost.com | Sam Stein | Posted 09.26.2012 | Politics

WESTERVILLE, Ohio -- In a line that event attendees found a bit puzzling, Mitt Romney warned a crowd of mostly middle-class onlookers on Wednesday not...

Sam Stein

Mitt Romney's Five Supportive Tax Policy Studies Aren't All Studies Or Supportive

HuffingtonPost.com | Sam Stein | Posted 09.14.2012 | Politics

WASHINGTON -- Over the past few weeks, the Romney campaign has repeatedly pointed to five separate studies supporting the candidate's contention that ...

Obama Campaign Ad: Middle Class Will Pay For Tax Cuts For Wealthy Under Romney Ryan Plan

The Huffington Post | Sabrina Siddiqui | Posted 09.12.2012 | Politics

President Barack Obama's reelection campaign is going after Republican presidential candidate Mitt Romney and his running mate Paul Ryan for failing t...

Laura Bassett

Ryan, Romney Can't Say Which Tax Loopholes They'd Plug

HuffingtonPost.com | Laura Bassett | Posted 09.09.2012 | Politics

Republican presidential nominee Mitt Romney and his running mate, Rep. Paul Ryan (R-Wis.), stressed in interviews on Sunday that they would offset tax...

When You Should File an Amended Tax Return

Jason Alderman | Posted 10.29.2012 | Money
Jason Alderman

Although it's tempting to let such mistakes slide, chances are the IRS will discover the error eventually, and when they do you could be liable for interest and penalties going back to the due date of the original tax return.

Romney Refuses To Say Which Tax Deductions He Would Eliminate

The Huffington Post | Luke Johnson | Posted 08.23.2012 | Politics

In a wide-ranging interview with Time Magazine, Mitt Romney declined to say which deductions he would eliminate from the tax code in order to make his...

Is the IRS' 'Marriage Penalty' Real?

Jason Alderman | Posted 10.09.2012 | Money
Jason Alderman

Marriage does indeed have many financial ramifications -- both good and bad -- and several involve the dilemma over whether to file income taxes together or separately. Let's sort through the noise.

No Tax Break If Client Stiffs You

Julian Block | Posted 10.06.2012 | Money
Julian Block

Contrary to what many self-employed individuals believe, long-standing regulations usually prohibit most of them from claiming bad-debt deductions on their federal and state returns when they are unable to recover amounts due from clients and customers.

A Letter to the Good People at the IRS

Dafna Maor | Posted 09.18.2012 | Parents
Dafna Maor

I didn't know whether to laugh or cry. It was really quite comical, as if someone has written a very politically-incorrect skit for Saturday Night Live.