Income Archives - Page 12 of 21 - FREE Yourself from IRS Problems

Shamsey Oloko July 1, 2016 Income, Income Tax, New York State Tax, State & Local Taxes, State Sales Tax 0

Supreme Court Tax Cases: Comptroller of the Treasury of Maryland v. Brian Wynne

For a significant period of time, since 1873 in fact, the Supreme Court has held that the taxing power of the states is limited by the dormant commerce clause. State taxes on interstate activity must be “fairly apportioned,” meaning that if more…

Shamsey Oloko June 15, 2016 Income, Income Exclusions, Self-Employment Tax 0

Excluding Self-Employment Income Under I.R.C. §1402(a)(3)(C)

Taxpayers earn self-employment income which is net income “from any trade or business carried on by such individual” under I.R.C. §1402. The meaning of “trade or business” is the same as it is under I.R.C. §162. The Supreme Court has…

Shamsey Oloko May 26, 2016 Income, New York Income Tax, Taxable Income 0

Taxes And Winning The Lottery

Hopefully, if one of us is ever lucky enough to win a big lottery jackpot, we won’t care about how much of it we have to “share” with Uncle Sam as taxes. But winning any immense lottery jackpot, especially some…