Taxes

Blog February 6, 2024February 6, 2024 Treasury Finds TCJA Interest Limitations Had Small Impact on Corporate Activity Limiting interest deductibility continues to be a worthwhile policy goal, but given the current climate, policymakers should opt to pair any further limitations with other pro-growth policies such as full expensing to ensure firms’ incentives to invest are
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For dividends, Ireland’s top integrated tax rate was the highest among European OECD countries (57.1 percent), followed by Denmark (54.8 percent) and the United Kingdom (54.5 percent). Estonia (20 percent), Latvia (20 percent), and Hungary (22.7 percent) levy the lowest rates. Estonia and Latvia’s tax on distributed profits means that the corporate income tax is
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Updated for tax year 2024. There’s nothing wrong with filing taxes early. In fact, getting a head start on federal tax filing may be more beneficial than most people realize. At a glance: The sooner you file your taxes, the sooner you’ll get your tax refund. Filing early can also give you more time to
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Updated for tax year 2024. If you’re an employee, you’re probably familiar with federal income tax and other withholdings on your regular paycheck. But what happens when you receive a year-end bonus or other types of supplemental income? Understanding how your bonus is taxed can help you plan for the best outcome at tax time
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Filing taxes can be complex, especially for partnership business owners who need to file IRS Form 1065. If your business is a partnership or a multi-member LLC, you’re in the right place! This guide will walk you through what you need to know about Form 1065 — what it is, how to file it, and
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How the Payroll Tax Base Has Changed Over Time Skip to content Home • Blog • How the Payroll Tax Base Has Changed Over Time The Social Security trust funds face looming insolvency if policymakers don’t reform the program. One issue that garners a lot of attention in the debate over solutions is the payroll
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Alabama Expands Tax-Free Overtime, Should Repeal Exemption Skip to content Home • Blog • Alabama Expands Tax-Free Overtime Eligibility, but Should Repeal Entire Exemption Before President-elect Donald Trump proposed it at the federal level, Alabama passed a law exempting overtime wages from taxes back in November 2023. Act 2023-421 (H.B. 217) excluded any amounts received
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State Drug Policy: Marijuana Legalization | Tax Foundation Skip to content Home • Blog • Momentum Slows for State Drug Legalization Policies via 2024 State Ballot Initiatives Drug policy was on the ballot in many states in 2024. Voters in Florida, North Carolina, and South Dakota considered legalizing recreational marijuana; voters in Nebraska had the
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Estate and inheritance taxes are burdensome. They disincentivize investment and can drive high-net-worth individuals out of state. They also yield estate planning and tax avoidance strategies that are inefficient, not only for affected taxpayers but also for the economy at large. The handful of states that still impose them should consider gradually eliminating them or
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Premium Cigar Taxes by State, 2024 | Tax Foundation Skip to content Table of Contents Over 500 million premium cigars were sold in the United States in 2023. With each sale comes a complex taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover
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