Tax Laws

Everybody is talking about the expiring of tax breaks in 2012, but there were many big and small tax breaks that have already expired. This year and the coming year will see additional taxes for some, but most taxpayers will be paying more because of the expiring of many tax breaks. Some individual taxes that…

With the introduction of increased payroll taxes on wages, and tax on investment income, the new year will bring additional taxes for the rich. Taxes on investment income will hurt the wealthy because it includes interest, dividends and capital gains. Many are already planning to shift their investments to cut down on the taxes. Whether…

Small businesses can gain a lot of benefits from tax credits. There are many credits that the government has introduced for taxpayers who run small businesses. According to the number of staff, type of business and other particulars of your business, you can choose the credits you can use when filing your tax returns this…

Republican governors are contemplating increasing sales tax and lowering income taxes. Economists at the OECD (Organization for Economic Co-operation and Development) studied various types of taxes and discovered that sales tax is the least harmful tax for economic growth.Western European countries have some of the world’s highest value-added tax (VAT). Scandinavia, Sweden, Denmark and Hungry…