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FAIRTAX FRIDAY- Citizens of FAIRtaxUSA Unite
We all want the current income tax system to go away. We all want to not have to swear under oath the filing we are about to make on April 17 to the Internal Revenue Service. We know that there is no way we can know what is in that 74,600 pages of code, regulation and interpretation called the income tax system. Read More.
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Key Republican is talking to the White House about tax plan ‘phase two’
​House Ways and Means Committee Kevin Brady is talking to the White House about a possible “phase two” of the Republican tax plan. Read More.
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The Impact Of The 2018 Tax Reform On Business Owners
It has been 30 years since there has been a significant tax reform, and the Tax Cuts and Jobs Bill that recently passed is certain to impact everyone – from individual taxpayers to business owners. If you have been in the accounting business for more than 30 years, you might notice the similarities between today’s climate and of President Reagan’s Tax Reform Act. The changes were so broad that it became known as the “Accountants’ Full Employment Act of 1986.” Read More.
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Double taxation? These 13 states tax your Social Security benefits
When you think of double taxation, you might think of dividends. After all, they’re paid to you out of the funds that remain after a company has been taxed on its earnings – and then they typically become taxable income for you. You might also be subject to another kind of double taxation, though – taxation of your Social Security benefits. Read More.
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Trump administration backs states’ bid to collect online sales taxes
The Trump administration on Monday said states should be able to require online retailers to collect sales taxes, backing an appeal by South Dakota at the U.S. Supreme Court that could mean billions of dollars in revenue for state coffers. Read More.
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42% of Americans are at risk of retiring broke
At this rate, retirement is more of a fantasy than a reality for many people in this country. About 42 percent of Americans have less than $10,000 saved for when they retire, according to a study by GoBankingRates released Tuesday. Read More.
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Ron Paul warns that market dangers are ‘bigger than ever,’ even if Trump backs away from tariff threat
The situation facing stocks may appear more ominous with the addition of President Donald Trump’s tariff threat. But libertarian Ron Paul suggests Wall Street is missing the bigger picture. Read More.
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Dow falls 299 points after Powell signals Fed will keep raising rates to contain inflation
U.S. stocks fell for the first time in four days Tuesday after comments from new Federal Reserve Chair Jerome Powell sent rates higher. The new chair signaled the central bank could hike rates more than three times this year in an effort to keep the economy from overheating, sparking anxiety among equity traders. Read More.
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Dow falls 299 points after Powell signals Fed will keep raising rates to contain inflation
U.S. stocks fell for the first time in four days Tuesday after comments from new Federal Reserve Chair Jerome Powell sent rates higher. The new chair signaled the central bank could hike rates more than three times this year in an effort to keep the economy from overheating, sparking anxiety among equity traders. Read More.
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Home prices surge 6.3% in December amid critical housing shortage
Sky-high demand and record-low supply continued to push home prices higher in December, far faster than income growth. U.S. home prices increased 6.3 percent compared with December 2016, according to the much-watched S&P CoreLogic Case-Shiller national home prices index. That is an increase from 6.1 percent annual growth in the previous month. Read More.
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U.S. Consumer Confidence Is at 17-Year High
U.S. consumer confidence jumped to a 17-year high as optimism about employment prospects grew and Americans began seeing additional money in their paychecks from recently enacted tax cuts, data from the New York-based Conference Board showed Tuesday. Read More.
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Trump says he backs 25-cent gas tax hike to pay for infrastructure
​President Trump on Wednesday said he in favor of a 25-cent gas tax hike to pay for his infrastructure plan. Read More.
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Trump Says He’ll Unveil ‘Reciprocal Tax’ on Imports This Week
President Donald Trump said Monday that he will propose a tax on imports this week, reviving an idea he floated earlier in his administration that risks raising tensions with key U.S. trade partners. Read More.
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California has a plan to skirt the GOP tax law. IRS veterans sayit is likely doomed.
California’s plan to shield residents from a tax hike under President Trump’s tax plan is likely to fail, said seven former high-ranking Internal Revenue Service and Treasury Department officials. Read More.
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California has a plan to skirt the GOP tax law. IRS veterans say it is likely doomed.
California’s plan to shield residents from a tax hike under President Trump’s tax plan is likely to fail, said seven former high-ranking Internal Revenue Service and Treasury Department officials. Read More.

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