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New IRS Statistics Show A Concentration Of U.S. Income Among Only A Few

The U.S. has a progressive income tax system. Therefore, the rate of tax increases as taxable income increases. The purpose of imposing progressive taxes is to reduce the tax incidence of people with a lower ability to pay taxes, as these taxes shift…

Shamsey Oloko March 15, 2017 Alternative Minimum Tax (AMT), Audit, Bankruptcy, Business Expense, Business Expenses, Capital Gains, Capital Losses, Charitable Contributions, Deductions, Donald J. Trump, Form 1040, Gains & Losses, Income, Income Tax, Income Tax Return, Internal Revenue Code, News, Profits & Losses, Tax News 0

President Trump’s 2005 Tax Returns – What It Tells Us

President Trump’s 2005 Tax Return – What It Tells Us Yesterday, Tuesday March 14, 2017, while most of the New England area was buried in snow, MSNBC published President Trump’s 2005 income tax return – or at least the first…

Shamsey Oloko March 6, 2017 Tax Evasion, Tax Fraud, Tax fraud & evasion, Tax News 0

Alec Baldwin Accused Of Avoiding New York Sales Tax On Painting Purchase

Donald Trump certainly has a few tax issues looming over him as he takes over the Oval Office. Alec Baldwin, known for his impersonation of Trump during the months leading up to the election, coincidentally also has an issue regarding…