23 WA Bicycle Tax & MA Click Through Nexus
In episode 23, I discuss:
For the Federal Tax News:
The Federal Government Automatic Spending Cuts:
IRS appeals the tax preparer registration
Federal Returns are still being processed.
For the State Tax News:
Washington State Introduces a $25 Bicycle Tax to pay for transportation projects
Massachusetts introduces click through sales tax
South Dakota passes bill to repeal their membership in the Multi-State Tax Commission
New Jersey proposes a budget without any tax ncrease
Virginia proposes the largest tax increase to pay for transportation projects.
Forbes …Has a tribute to Dr. Seus called The Tax Forms that you know…http://www.forbes.com/sites/kellyphillipserb/2013/03/02/oh-the-tax-forms-youll-know-in-the-style-of-dr-seuss/
For the International Tax News
France has decided that having a top 75% tax rate isn’t cool to keeping their tax revenues coming now the Country is discussing lowering the rate to 66%.
For the Local Tax News:
Chicago wants to raise cigarette taxes to where the price of cigarettes is $11 a pack.
On other news:
Income drops the lowest to the lowest level in 20 years according to CNN.
Detroit is on the verge of bankruptcy – State of Michigan is talking takeover according to CBS News is Detroit.
For the indeth tax discussion, I discuss Net Operating Losses for Individuals.
The link to the IRS Publication 536 on Net Operating Losses is: http://www.irs.gov/pub/irs-pdf/p536.pdf
Is Summer Camp expenses deductible is an article on “She Knows Parenting” Here’s the link to find out more information.
Have a tax question or feedback about this week’s podcast, send me an email to firstname.lastname@example.org.
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Navigating The Tax Headline of the Week
NewsletterQ&A coming soon.
Tax TipsThe Additional Child Tax Credit is available on dependents under the age of 17.
- CIRCULAR 230 DISCLOSURE "We are required by IRS Circular 230 to inform you that the advice contained herein (including all attachments) was not intended or written to be used for the purpose of avoiding any penalties that may be imposed under Federal tax law and cannot be used by you or any other taxpayer for the purpose of avoiding such penalties."
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