Mad Max: Is government spending a form of taxation? When the government borrows money and spends it, how is that different from taxation other than people don't see it taken out of their paychecks? Answers and Views: Answer by deonejuanA very valid point you bring up. It is how our politicians redefine labels. As far as spending, the raid on … [Read more...] about Is government spending a form of taxation?
Taxes
What is the difference between a federal taxation class and a corporate taxation class?
Dirk D: What is the difference between a federal taxation class and a corporate taxation class? I'm a graduate student and federal taxation is a prerequisite to corporate taxation. But, due to a snafu at the registrar, they inadvertantly registered me for both. This actually works our really well for me, but I just want to be sure I can manage … [Read more...] about What is the difference between a federal taxation class and a corporate taxation class?
Can my dad claim taxes on my tuition if I am the one taking the loans out?
Andrew R: Can my dad claim taxes on my tuition if I am the one taking the loans out? I am a college student, still claimed as a dependent by my dad. Can he claim tuition fees on his taxes if I am the one paying for the loans? I have a part time job as a waiter. I don't live with my parents. I pay for my gas, rent, food, everything else. He pays … [Read more...] about Can my dad claim taxes on my tuition if I am the one taking the loans out?
Can your state income tax be a deduction on your federal taxes?
van_wyhe_halen: Can your state income tax be a deduction on your federal taxes? I am doing my taxes by myself for the first time, and I heard somewhere that your state income taxes can be a write off on your federal income tax. Is that true? Answers and Views: Answer by AM-NM centaurYes. You have the option to deduct EITHER your state and … [Read more...] about Can your state income tax be a deduction on your federal taxes?
How to advance money to a start up for tax purposes?
kruzo: How to advance money to a start up for tax purposes? I am about to advance some money to a startup company (a Massachusetts LLC) to cover their startup costs. What do I need to do to make this money deductable on my personal income tax, particularly if that company ends up failing? How do I formally "give" this money to them and how do I … [Read more...] about How to advance money to a start up for tax purposes?
How should $40K in gift money for a first time home purchase be distibuted to avoid taxes?
BustedDreams: How should K in gift money for a first time home purchase be distibuted to avoid taxes? My in-laws are being gracious enough to gift $ 40K. How should the money be transffered so as to avoid having to pay taxes on it. We are a family of four, myself, wife, and two sons (ages 5-9). If the answer involves giving gifts to the kids, … [Read more...] about How should $40K in gift money for a first time home purchase be distibuted to avoid taxes?
Should the rich be required to pay the same effective rate of taxation that working folks pay?
R: Should the rich be required to pay the same effective rate of taxation that working folks pay? In other words, should all Americans share an equal burden (all taxes/fees as a percentage of income) when it comes to funding our civil society and civic infrastructures? If not, would someone please explain why working folks have to shoulder a … [Read more...] about Should the rich be required to pay the same effective rate of taxation that working folks pay?