In 2012, Kansas governor Sam Brownback and the state legislature passed a measure to reduce state income tax rates for all Kansans and eliminate income tax for some 300,000 LLCs. Brownback and his fellow statesmen reasoned that such a measure would re-energize the state economy and promote job
Alaska’s Current Tax Debate
The decline in oil tax revenue has sparked an important debate among Alaskan policymakers. Historically, Alaska’s oil supply has resulted in surpluses for its state government; now, with oil production on the decrease, state legislators are seeking measures in order to confront the newly created
A Brief History of the Geld
In the year of 2016, we tend to associate tax collection with a number of images and concepts, such as complex forms, expensive government programs and the IRS. Our perception of taxation is inevitably bound to the society in which we live. In reality, however, the basis of this association is
The Amazon Sales Tax Dispute
With its seemingly endless number of products, competitive prices and customer focused shipping practices, Amazon.com (Amazon) is truly a commercial force to be reckoned with. Headquartered in Seattle, Washington, Amazon.com is the largest internet-based retailer in the world and, as of 2015, has
Understanding Cost Basis
Cost basis is a tax concept which is used for determining the true amount which has either been gained or lost from the sale of a given commodity. When you sell property, basis is used to compute the correct amount of tax which is owed from the sale. Though cost basis is a relatively simple concept,
The Tax Benefits of the Legal Profession
Few occupations receive as much attention as the legal profession. Lawyers hold a high position on the occupational totem pole and are regularly portrayed as characters in a variety of media – films, television shows, books and others. Historically, the legal profession has possessed a considerable
The Basics of Starting Your Own Business
Starting a new business is an exciting, life-altering endeavor. Historically, it has been America’s entrepreneurial spirit which has pushed us along from the days of the general store up to the bustling multistate corporation. Whether self-taught or equipped with an MBA, all aspiring entrepreneurs
The Tax Issues of the Medical Field
When entering their chosen field, medical professionals mull over a number of important concerns. They think about their compensation; they ponder the frightening hours they may have to work; they think about the impact they will make on the lives of their patients. Rarely, if ever, do they wonder