taxes

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7 Tax Breaks You Probably Don't Know About

You may be able to deduct college courses, disaster losses

(Newser) - If you've put off your taxes until the last minute, here's a little reward for your procrastination: Time offers seven tax breaks that could save you money—now that you actually know about them:
  • Higher education: There are certain credits available for qualified tuition, and you may not
...

America&#39;s Weirdest State Taxes

 America's Weirdest State Taxes 
in case you missed it
Apr 14, 2012 7:00 PM CDT

America's Weirdest State Taxes

Maine blueberries, New York bagels make ABC's odd-tax list

(Newser) - Federal taxes may provoke the loudest partisan bickering, but some states impose taxes that could leave you at a loss for words. Fur? Nudity? Bagels? You bet—not to mention blueberries and playing cards. ABC News rounds up a few of the weirdest:
  • Blueberries: Maine, which produces 99% of all
...

Obama Earned $790K in 2011
 Obama Earned 
 $790K in 2011 
tax return
Apr 13, 2012 11:14 AM CDT

Obama Earned $790K in 2011

Family taxed more than $160K

(Newser) - President Obama and his family paid more than $160,000 in federal taxes last year, the White House says. The president's 2011 federal income tax return shows reported adjusted gross income of about $790,000 last year. About half of the first family's income is the president's...

Obama on Buffett Rule: It's Really the Reagan Rule

President gives speech flanked by millionaires and their secretaries

(Newser) - So much for the Romney Rule . President Obama has settled on another way to rebrand the Buffett Rule, which would impose a 30% minimum tax on income above $1 million, Roll Call reports. "I’m not the first president to call for this idea that everybody’s got to...

Tax Cheating, Easy? Experts Tell You How

Accountants and tax lawyers share tips for beating Uncle Sam

(Newser) - So the New York Times is offering tips for tax cheaters. Guess we know which newspaper will be audited next—but for now, let's take advantage of the paper's survey of 20 tax lawyers, accountants, and policy wonks:
  • The easiest way to cheat is ... running your own company—
...

Germany May Tax Young Workers

Proposed levy would pay for retiring boomers

(Newser) - Germany, too, is facing a huge spike in retirees, and the government is considering a new tax on younger workers to help pay for their pensions and health benefits, reports the Sydney Morning Herald . The measure to be introduced this month is expected to require workers 25 and older to...

French Frontrunner Wants 75% Tax on Millionaires

Francois Hollande: Those making more than 1M euros should pay huge rate

(Newser) - A poll out today continues to give Francois Hollande the edge over Nicolas Sarkozy in round one of France's presidential election, 31.5% to 27%, and a hearty lead in the runoff, 58% to 42%. Should the Socialist frontrunner indeed win, here's another percentage that will likely be...

Why Lincoln Wouldn't Win the GOP's Nomination

Jackie Hogan gives 4 reasons today's GOP would write off Abe

(Newser) - Sure, the GOP calls itself the "Party of Lincoln," but would today's Republicans actually nominate him for president? Writing in the Christian Science Monitor , Jackie Hogan gives four reasons why they wouldn't:
  1. He was the first president to make income tax law—and it was a
...

Grover Norquist: Soon It's Time to Impeach Obama

Anti-tax advocate reveals plan for Republican majority

(Newser) - Anti-tax crusader Grover Norquist sat down with the National Journal recently to talk tax cuts, Republican majorities, and ... the impeachment of President Obama. Let's start with Norquist's ideal outcome in the 2012 elections: "If the Republicans have the House, Senate, and the presidency ... you extend the Bush...

Perry Campaign Security Cost Texas Taxpayers $800K

Home state paid for food and lodging for bodyguards

(Newser) - Gov. Rick Perry's ill-fated presidential run cost the taxpayers of Texas nearly $800,000, spent on travel fees for the security detail that followed Perry around on his campaign from September through November, a state report reveals. Perry took 48 trips across state lines, mostly to primary battlegrounds Iowa,...

Buffett, Secretary on Her Salary: MYOB

Bloggers are missing the point, he says

(Newser) - So what does Warren Buffett's secretary make? Neither Buffett nor Debbie Bosanek are spilling, despite a flurry of speculation after her star turn at the State of the Union address. "They can't attack the facts, so they attack the person. It's ridiculous," Buffett tells the...

Stewart Rips Mitt&#39;s Tax Rate
 Stewart Rips 
 Mitt's Tax Rate 
'THE DAILY SHOW'
Jan 25, 2012 11:19 AM CST

Stewart Rips Mitt's Tax Rate

Poor people need better lobbyists: host

(Newser) - Jon Stewart ripped into Mitt Romney's tax return last night, and Elizabeth Warren showed up later to hammer home the point. "How can you justify making more in one day than the median American family makes in a year, while paying an effective tax rate of the guy...

Gingrich May Have Ducked Medicare Tax

He could owe tens of thousands, tax lawyers say

(Newser) - Newt Gingrich's tax returns might qualify him for an audit, tax attorneys tell USA Today, saying that the presidential contender may have dodged paying tens of thousands in Medicare tax. Gingrich's campaign contends that "the salary and distribution were handled properly and legally." The matter stems...

Federal Workers Owe $1B in Back Taxes

2010 figure soars $32M from year before

(Newser) - Some 98,000 federal workers owed $1.03 billion in unpaid taxes at the end of the 2010 fiscal year. While that's fewer employees than in 2009, the amount of cash owed climbed by $32 million, the Washington Post reports. Defense Department workers owed the most, with more than...

Buffett Dares GOP to Donate More Taxes

Says he'll match them, and 'even go 3 for 1 for McConnell'

(Newser) - Warren Buffett's ready to donate money to pay down the national debt—provided Republicans lawmakers do so first. When Buffett called for higher taxes on the rich last year, Mitch McConnell and many other Republicans told him to " send in a check ," and John Thune even introduced...

In 2011, IRS Audited 12% of Millionaires

Also of note: Tax day has changed

(Newser) - Cheer up 99%; at least you're not getting audited. The IRS turned up the heat on the wealthy in 2011, auditing 12% of people earning a million dollars or more, according to figures released yesterday. That's up from 8% of millionaires in 2010 and 6% in 2009. By...

Feds to Airlines: Stop Hiding Ticket Fees, Taxes

Carriers must advertise full price starting next month

(Newser) - Airlines will soon be forced to advertise the full price of tickets—including government taxes and fees—instead of a stripped-down price with an asterisk. The rule scheduled to go into effect in late January is designed to keep prospective fliers from getting a nasty surprise several steps into the...

Think Kim Kardashian Should Pay More Taxes? You're Wrong
Think Kim Should Pay
More Taxes? You're Wrong
OPINION
Dec 27, 2011 2:26 PM CST

Think Kim Should Pay More Taxes? You're Wrong

Don't punish Kardashian for making money: William McGurn

(Newser) - Kim Kardashian has crossed a line—not by divorcing after just 72 days, but by not paying enough in state taxes. Oh, she pays what she owes to California, William McGurn clarifies—she just doesn’t pay what the Courage Campaign thinks she should . Specifically, this “self-appointed advocacy group”...

Occupy Richmond Defends Tea Party in Tax Row

They suspect the move was 'retaliation' for criticism of mayor

(Newser) - Who says Tea Partiers and Occupiers can’t get along? Occupy Richmond has issued a statement defending the Richmond Tea Party, which the city recently said was behind on its taxes. “Given the duplicitous and violent manner in which the city government chose to raid our peaceful occupation, it...

Billionaires' Tax Tricks Hide Huge Gains

Millions go unreported thanks to 'unrealized appreciation'

(Newser) - If President Obama wants a "Buffett Rule" to keep billionaires paying their fair share of taxes, he’ll have to look at the "800-pound gorilla" in the room, tax experts say. That gorilla, explains one expert, is "unrealized appreciation"—cash that America’s wealthiest take in...

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