As our elected officials keep rolling out trillion dollar spending plans, allegedly to be financed by proposed increases in taxes on corporations and the wealthiest individuals, one might wonder, what happens if revenues fall short? None of the details relating to planned spending and tax increases have been released, and it will probably be several … Continued
With the current atmosphere in Washington, it might be a good time to recognize that some federal, state and local taxes are partially or substantially voluntary, and/or deferrable depending on personal choices. For example, capital gains tax liabilities are currently triggered by the sale of an asset at a profit. Any liability can be entirely or … Continued
There has always been an underground economy, sometimes referred to as a shadow economy, and more recently described as the Gig economy, with the rise of such relatively new activities, such as home and ride sharing. Investopedia defines the underground economy as illegal economic activity. Transactions in the underground economy are illegal, either because the … Continued
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