Category

Taxes

election

Donald Trump's Tax Returns Were Last Public in 1981 – Here's What They Revealed

The last time Donald Trump's tax returns were made public, they revealed he actually reported a considerable negative income for two years in a row.

Here's more on what the real estate mogul paid (or didn't pay) the government in the past - and the latest on the Trump tax records controversy...

Washington

Bernie Sanders Is Right on U.S. Corporate Taxes – Most Pay Zero

Bernie Sanders is fond of pouncing on the topic of U.S. corporate taxes on the campaign trail. Specifically, he says companies need to pay their "fair share."

And a recent Government Accountability Office (GAO) has confirmed what Sanders has been saying.

Nearly 20% of large U.S. companies that turn a profit pay no corporate taxes to Uncle Sam in any given year, the GAO found.

Nearly 20% of large companies pay zero in U.S. corporate taxes in any given year. Here's how they pull it off - and why this abomination will never be fixed...

washington

Tax Inversion Laws Won't Tank This Deal

The U.S. government implemented a new tax inversion rule to clamp down on companies that attempt to reduce tax bills by merging with foreign firms and relocating headquarters overseas.

The new rule sounds nice on the surface, but it could ultimately do more harm than good – especially to your portfolio.

Here's why - plus one deal this law can't tank...

Washington

Obama's Tax Inversion Talk Is Just Washington Blaming Wall Street for Its Mess Yet Again

President Obama's "tax inversion" remarks today were hypocritical.

The president said such corporate tax loopholes make it harder to spend money to keep the economy strong.

While this may be true, we're curious as to why he's not pointing his fingers at his fellow politicians instead of blaming Wall Street...

Washington

The Most Outrageous Use of Your Tax Dollars Yet

The government has found a brand-new, literally criminal use for your tax dollars.

Two years ago, it was the Economic Development Administration's $335,000 expenditure to build 38 "speed humps" in two towns in Maine, instead of fixing the state's crumbling infrastructure.

Last year, it was the U.S. Department of Defense's $40,000 tab from building an 11-foot, historical model of Fairchild Air Force Base.

But this already takes the cake for 2016, and we're only two months in...

Election

Trump's Zero Tax Plan Unveiled Today: Here's What We Know Now

Republican presidential front-runner Donald Trump unveiled a tax plan on Monday under which a large segment of U.S. taxpayers would have a "zero tax" rate.

His tax policy would reduce the number of tax brackets from seven to four: 25%, 20%, 10% and 0%.

The billionaire businessman also said he would increase rates for some individuals...

Breaking News

Here's Everything Wrong with Hillary Clinton's Capital Gains Tax Plan

In a speech today, Democratic presidential front-runner Hillary Clinton struck-out at 'short-termism' in proposing to hike capital gains taxes for investors who hold investments for only two or three years.

In doing so, she not only betrayed the nearly genetic pre-disposition of any Democratic politician to raise taxes…

But this is just the beginning of the colossal mistake Hillary just proposed...

Your Money

Tax Refund Fraud 2015: Five Ways to Avoid Getting Scammed

Tax refund fraud 2015: Americans, in total, spend 6 billion hours a year doing their taxes. They do it because it's a requirement – but also because it's a lifeline. For 70% of Americans, the tax refund is the biggest paycheck they'll receive all year.

Tax refund fraud, which has tripled in the last three years, threatens to take that lifeline away now more than ever. Currently, a little over $5 billion is lost every year to tax fraud according to Government Accountability Office (GAO) estimates. From 2013 to 2014, the number of people who identified themselves as tax fraud victims jumped by 36%. Already this year, 19 states' tax authorities reported high volumes of fraudulent returns.

You can reduce your risk of getting scammed. Taxpayers can take these steps to protect themselves from tax refund fraud in 2015...