Like it or not, this may be one of the best results of the tax re-write… for everyone! ========= WSJ 1/2/2018 The great American migration out of high-tax states like New York and Illinois may be about to accelerate. The tax reform enacted last month caps the deduction for state and local taxes, known as SALT, at $10,000. This means millions of... Read more
Archive for the ‘Tax Issues’ Category
Tax Actions before 2018 – WSJ
December 20 | Posted by mrossol | American Thought, Big Govt, Tax IssuesJust FYI. ===== WSJ 12/20/2017 For millions of Americans, the most important tax-planning tip between now and the end of the year is to check your charitable contributions. They are on Schedule A, Line 19 of your tax return. Do these donations, plus your mortgage interest, allowable medical expenses, and $10,000 of state and local taxes, normally add up to more than... Read more
The GOP Entitlement Caucus
March 30 | Posted by mrossol | Economics, Republican(s), Tax Issues, The RightMy respect for the Freedom Caucus has slipped in a major way. It will take a long time for Republicans to recover from the damage they have done. ===== WSJ 3/28/2017 The full dimensions of the GOP’s self-defeat on health care will emerge over time, but one immediate consequence is giving up block grants for Medicaid. This transformation would have put the... Read more
Bill Gates on Robots
March 30 | Posted by mrossol | American Thought, Economics, Tax Issues, TechnologyBill Gates is a smart guy, but I think he is missing the point with his view of robots and the impact on jobs. ===== WSJ 4/26/2017 By Andy Kessler Bill Gates, meet Ned Ludd. Ned, meet Bill. Ludd was the 18thcentury folk hero of anti-industrialists. As the possibly apocryphal story goes, in the 1770s he busted up a few stocking frames—knitting machines used... Read more
Everything about 401(k) and IRA Withdrawals
February 7 | Posted by mrossol | American Thought, Economics, Personal, Tax IssuesFound this very helpful. But of course, it fits my demographic, now. Doesn’t it? ====== By LAURA SAUNDERS WSJ Feb. 5, 2017 10:12 p.m. ET If you are one of the millions of Americans with a retirement-savings account, three of the most important letters in your financial life might be these: RMD. They stand for required minimum distribution, which is something that the nation’s... Read more
A Crooked World Needs Panama
April 10 | Posted by mrossol | Big Govt, Law, Tax Issues, Western CivilizationCouldn’t say it any better. ============= WSJ 4/9/2016 So far the one certain crime, in the so-called Panama Papers scandal, is the theft and distribution of a Panamanian law firm’s private property, its confidential documents. With the U.S. government railing this week against the Pfizer-Allergan deal, even the media might notice that the world’s convoluted tax codes actually incentivize people legally to hold... Read more
