Page 58 - Deductions News Today

SIX TAX PREPARERS ARRESTED FOR FILING FALSE TAX RETURNS, SOME CLAIMING THOUSANDS OF DOLLARS IN FRAUDULENT DEDUCTIONS

Make sure you claim all the write-offs you’re entitled to this year.

KARACHI: Sindh has rejected a federal government proposal for at-source deductions from its resource pool in the upcoming national electricity policy, and termed it unconstitutional.The provincial...

Investigating a $72.9 million tax refund the president received in 2010 and whether he took improper deductions. "the times" found trump took tax deductions for money spent on his lavish lifestyle, including $70,000 on hairdressers during his time on "the apprentice" and more than $95,000 for ivanka trumps makeup artist. the president says he is "entitled, like everyone else, to depreciation and tax credits." he has long refused to turn over his tax returns, but hes also bragged about his abilit...

Retirement plan, maximize what you put away. you definitely want to contribute to your ira. if you have a 401(k) available do that as well. rob: lets show the maximum contributions for your ira or your 401(k). you get that additional 1000 if you are 15 and older, and 19,000, for your 401(k), 6000 if you are 50 and over. not just iras and 401(k)s. >> it is good to be charitable and you want to maximize charitable contributions. the new tax law, a lot of itemized deductions went away with how we f...

Deductions. so if youre in an area that had high deductions, thats going dob a little more painful for you. so new york, california for example. >> this was a new york gathering. >> there you go. so tax rates could go up for part of the population there. but it is the case that the majority of the population did see a tax cut. now, what does it mean for the broader economy? its always hard to pick out how individual policies impact economic growth. but in general you did see a pop in consumer sp...

In labor market on the more entry-level parts of the labor market. so i think the hope is that if this recovery can continue, it will, indeed, become more broad based which is exactly what we want to see in order to start talking about a higher trend in the economy. >> but can with you also talk about the tax cuts that the president promised not only during the campaign but those that hes delivered upon. im just going to say anecdotally i was speak with someone as a holiday gather willing and he...

Makes a lot of sense directionally. but my idea would be a much, much simpler tax system for everyone where we eliminate all or most of the deductions and we -- and we smooth out and simplify the system we have. and as we do get the rates right. i dont think that wealth is the problem. i think greed is the problem. >> tonights language, i -- i -- everything deval patrick speaks to here sounds like a really good general election message. >> uh-huh. yeah. yeah. i dont know if that speaks to this y...

But the way he would get there, getting rid of most of the deductions would be how in simplifying the tax code he gets to the wealthy paying more. theres real policy differences here. that does make him an attractive candidate to someone looking for an alternative to joe biden or mayor pete buttigieg or senator amy klobuchar. these are people trying to get into the moderate lane this party, getting pretty crowded and going up against eventually elizabeth warren and bernie sanders for who wins th...

Investigations. what the presidents motives are hard to tell. its partly about taxes. no inheritance or income taxes in florida. he will save money doing that. i also imagine he knows he is not going to win new york state. but he is going to try hard and could easily -- could win florida. and moving there may give him a -- some advantage there. one has to note there are a lot of people in new york that say good ridens. a lot of the official dom up there. he was in a real fight with them. they do...