Obama Wants $190 Billion Tax Increase on Companies

Posted by Jiltin     Tags: , 4 May, 2009    538 views    (0) Comment

May 4 (Bloomberg) — President Barack Obama today will propose to outlaw three offshore tax-avoidance techniques U.S. companies such as Caterpillar Inc. and Procter & Gamble Co. want to use to save $190 billion over the next decade and make it riskier for Americans to stash money in tax-haven banks. Obama and Treasury Secretary Timothy Geithner are going after a strategy that allows U.S.-based multinational companies to effectively hide from the Internal Revenue Service the role Read Full Article (Click here)...

Categories : Corporate, Finance Tags : ,

Personal Finance: States With No Sales Tax, No Social Security Tax.

Posted by Jiltin     Tags: , 3 May, 2009    1,829 views    (3) Comment

No Sales Tax: All states except Alaska, Delaware, Montana, New Hampshire and Oregon, collect sales taxes. Some have a single rate throughout the state though most permit local city and county additions to the base tax rate. Those states with a single rate include Connecticut, Hawaii, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Jersey, Rhode Island, Vermont, Virginia, and West Virginia. States with the highest sales tax (when you include weighted averages Read Full Article (Click here)...

Categories : Finance, Tax Tags : ,

Personal Finance: Maximizing the Tax Benefits of your 401k(s)

Posted by Jiltin     Tags: , 3 May, 2009    2,877 views    (4) Comment

Tax season is almost over but there’s still time to maximize the tax benefits of your 401k(s) and IRA(s). Before you can begin reaping the potential benefits however, you’ll need to ask yourself a few questions relating to your current station in life and where you’d like to be come retirement age. 1. Do you plan on working to the age when you can withdraw retirement funds penalty free or retire early? 2. Do you need the benefit of tax deductions right now due to a tough financial Read Full Article (Click here)...

Categories : Finance, Tax Tags : ,

Planning to move around the states – Review ahead the taxes (USA)

Posted by Jiltin     Tags: , 9 April, 2009    1,234 views    (8) Comment

If you plan to move to another state, examine the tax burden you’ll face when you arrive. State taxes are increasingly important to everyone, but you have extra cause for concern since their income may be fixed. Many people planning to save use the presence or absence of a state income tax as a litmus test for a better destination. This is a serious miscalculation since higher sales and property taxes can more than offset the lack of a state income tax. The lack of a state income tax Read Full Article (Click here)...

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States With High Taxes – Where Americans Are Taxed Most?

Posted by Jiltin     Tags: , 9 April, 2009    349 views    (0) Comment

Take Vermont. It levies the nation’s largest tax burden on individuals. Ask anyone living there if the green mountains, popular ski slopes and quaint bed and breakfasts are enough to soften the blow of $3,861 per person kicked up annually to the state government. You’ll likely get a lot of “nos.” Some states are heavy on state income tax, others on property tax and others still on sales tax. Vermont doesn’t mess around: sales, property and personal income taxes Read Full Article (Click here)...

Categories : Finance, Tax Tags : ,