Archive for the ‘Corporate Tax’ Category

Tax Foundation Tests the “Climate”

Posted on September 22nd, 2014 by by George Ashley

That would be the “state business tax climate,” of which the Tax Foundation recently released its 2014 version. Not surprisingly, Nevada ranks right up there (3rd, actually) among the ten best states in which to do business, trailing only Wyoming and South Dakota.  And of course, our friends to the West (California) brings up the […]

Extension Deadline Looms

Posted on September 30th, 2013 by by George Ashley

Those of you who have been goofing off all summer, after having placed your 2012 tax return on extension, need to get busy – and fast. That extension runs out on October 15 – and even if you still owe Uncle some dough, but perhaps can’t pay right now, it’s still prudent to file the […]

Obama And His “Hidden Persuaders”

Posted on August 22nd, 2013 by by George Ashley

Upon hearing of the proposition that government Pooh-Bahs are suggesting ways to “Strengthen Federal Capacity for Behavioral Insights,” we couldn’t help but recall the Vance Packard classic from the 50s, regarding the encroachments of advertisers into target audiences psyches. Seems Obama’s minions are considering implementation of a “Behavioral Insights Team” (a la a scheme pushed […]

S Corp Shareholders Reminded: Pay Yourself a Salary

Posted on November 13th, 2012 by by George Ashley

Will it ever end?  The practice, that is, of some “S” corporation employee-shareholders trying to extract most or all of the corporation’s profits in the form of dividends rather than salaries in an effort to avoid payroll taxes? So here comes another case of greedy taxpayers trying this longstanding loser practice and, not surprisingly, getting […]

Internet Tax on the Horizon?

Posted on November 12th, 2012 by by George Ashley

Seems the Federal Communications Commission (FCC) is still sniffing around for more things to tax, and a “broadband fee” is high on the list of potentially new revenue sources. FCC Chairman Julius Genachowski, you see, is big on expanding broadband access, and he thinks expansion of internet access a really big deal (It is.), and […]

Tax “Breaks” Heading For Extinction?

Posted on May 10th, 2012 by by George Ashley

If the nonpartisan Congressional Research Service has its way, a few tax “breaks” (to use The Wall Street Journal‘s jargon) may be headed straight out the door.  That’s because, you see, these so-called “breaks” cost the government something like $1 trillion a year! We are always offended by use of words like “breaks” in a […]

Shareholder’s Compensation and Her Corporation’s Deduction

Posted on December 1st, 2011 by by George Ashley

So you say your “S” corporation is looking high and low for ways to offset some or all of its profits earned during the stellar 2011 tax year.  And the thought occurs to you that because it uses the accrual method of accounting (recognizing expenses when incurred, which may precede the date of actual payment), […]

Tax Rates on the Way Down?

Posted on March 24th, 2011 by by George Ashley

Don’t hold your breath, but we like what we’re hearing from House Ways and Means Chairman Dave Camp (R – Mich), who recently proclaimed that he wants to cut the top individual rate to a paltry 25% (down from the present 35%)!             The bad news is that Camp would also erase from the law […]

Corporate Taxes on the Decline?

Posted on January 27th, 2011 by by George Ashley

            Have the politicians finally come to their senses?  Have they finally realized that U.S. corporate tax rates are just too darned high?             Mebbe so.  As the new Congress recently convened, encouraging words were heard to emanate from a pol or two.  “Tax reform could be a significant boost to our competitiveness,” quoth Representative […]

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