Taxes

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Growth vs. Public Opinion

Submitted by Brenda Wenning on Wednesday, March 18, 2015 - 9:00am

Well, here’s a shocker. A new poll shows that a majority of Americans want a higher minimum wage. According to the Associated Press-GfK Poll, they also want paid sick leave and parental leave, free community college and more gender equality laws.

Finding Every Deduction

Submitted by Kimberly J. Howard on Thursday, February 26, 2015 - 12:00pm

Every possible tax deduction can help when your money is tight. Yet many available legal deductions go unclaimed each year simply because most taxpayers still don’t know the breaks exist. From eyeglasses to airline baggage fees, you might qualify for at least one often-forgotten deduction – and maybe more than one.

When Economic Beliefs Clash

Submitted by Brenda Wenning on Monday, March 9, 2015 - 9:00am

In today’s economy, the theory of cognitive dissonance gets put into practice regularly. That’s where you must hold two opposing beliefs in your mind. Obviously, the result is bad. When applied to our economy, it’s really bad.

IRA Withdrawal How-To

Submitted by Rick Kahler on Thursday, March 12, 2015 - 3:00pm

Last year I reached a milestone age: 59½, old enough to withdraw money from my individual retirement accounts with no penalty. While this felt bittersweet, it did remind me of the importance of timing when it comes to taking money out of retirement accounts. Withdrawing at the wrong time can create serious tax consequences.

Tax Moves in a Divorce

Submitted by Wendy Spencer on Tuesday, March 10, 2015 - 12:00pm

In the turmoil of the end of your marriage, you may sign a divorce settlement agreement quickly, even with relief. That important – and possibly ill-considered – paper may start you on a new life. It might also ignite a tax nightmare for you in the future.

Dumb Rules on Tapping IRAs

Submitted by David John Marotta and Megan Russell on Thursday, February 26, 2015 - 9:00am

IRA distribution rules are extremely shortsighted. They punish taxpayers in the short run and gain the government less in the long term. To see how, let’s examine how Washington compels people to withdraw money from these popular retirement plans.

Higher Estate Taxes: Bad Idea

Submitted by Phillip Shrotman on Friday, February 27, 2015 - 9:00am

Boosting the tax on inherited wealth is a perennial goal of some politicians. And while the White House’s latest plan to boost the levy on estates faces a dim future in a GOP-controlled Congress, the concept will continue to pop up. There’s a lot wrong with this idea.

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