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Why "Material Participation" Can Be Your Ticket To Tax Deductions
The taxlaw distinguishes between passive investments and active businesses. Suppose you have condo you rent out that generates a tax loss every year because the rent you collect doesn?t cover your mortgage and real estate taxes. If you depreciate the condo, it will make your tax loss even larger. Can you offset that real ... tax law 08 Feb 2012
Fulton tax chief may face pay cut
Because of a loophole in a state law -- and by personally collecting fees for billing taxes in three cities -- Fulton County Tax Commissioner Arthur Ferdinand has become the state's highest-paid elected official.Taking in $347,000 last year, Ferdinand's earnings approached the level of the U.S. tax law 08 Feb 2012
Tax myths that will cost you
Some of your commonly held beliefs about taxlaw may not be based in reality. Find out whether you believe in these taxation fairy tales that may cause you to pay more tax than you actually owe. tax law 08 Feb 2012
Little Evidence Linking Low Tax Rates to Job Growth, as Romney's Filing Shows
When Mitt Romney disclosed in his tax return that he earned most of his money from investment income, the revelation put a political bull?s-eye on the lower tax rates for capital gains and so-called carried interest. tax law 08 Feb 2012
Taxing Times: Fewer tax changes, thanks to gridlock
The good news is that there aren?t a slew of tax-law changes to deal with this year. The bad news is that the changes taxpayers need to contend are not trivial. Read that story, plus find out how your Super Bowl bet will be taxed, all in this week?s Taxing Times. tax law 08 Feb 2012
10 tax law changes for 2011 tax returns
The good news for taxpayers working on their 2011 tax returns is there aren't many major surprises this filing season. tax law 08 Feb 2012
Checking out your tax preparer
Taxes » Checking Out Your Tax PreparerBy signing your 1040 form, you agree to abide by the taxlaw that holds you responsible for paying your taxes, regardless of who prepares your return. When it comes ... tax law 08 Feb 2012
What Tax Reform Would Mean For The States
What would fundamental changes in the federal tax code mean for state and local governments? Would it limit their ability to raise or borrow money? Would it make their revenue systems more or less progressive or even work more smoothly? Last Friday, I participated in a joint Tax Policy Center and UCLA Law School conference ... tax law 08 Feb 2012