Tennessee court rules that AOL does not have nexus in the state.(state taxes)Madden, David
You might say, well OK, the guy underpaid his taxes, he shouldn't have done that, it's not bad deadbeats get penalized. Fine, lets see what happens when someone overpays his state taxes (his employer deducts too much state tax from his paychecks). Lets say that he pai...
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LLC pass-through taxation is when an LLC avoids "double taxation". Instead, the profits and losses flow through to the owners tax return.
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First, an excise is only on specific goods. Whereas sales tax applies to just about everything you buy (usually with specific exceptions such as unprepared food and clothing), excise taxes are applied to specific goods. The most common examples are luxury goods or those that have been linked...
Basically, if an investor has (or expects to have) capital gains for the year, he or she will sell off other assets that have lost value. The loss generated by the sale is then used to offset capital gains and, possibly, be deducted from ordinary income. This st...
tax deductibles can also exacerbate income inequality. There are opportunities for tax deductibles to disproportionately benefit higher-income individuals. For instance, think back to the mortgage interest deduction example. This tax deductible only impacts those who have the financial security of owning ...