The Kansas legislature will reconvene next week for its 2021 veto session, when legislators will reconsider bills that were vetoed by the governor. One such bill that has a second chance of being enacted, Senate Bill 50, would enhance Kansas’ economic competitiveness by improving the state’s corporate, individual, and sales tax structure while providing tax
Month: April 2021
Warren Buffett (L), CEO of Berkshire Hathaway, and Vice Chairman Charlie Munger attend the 2019 annual shareholders meeting in Omaha, Nebraska, May 3, 2019. Johannes Eisele | AFP | Getty Images Warren Buffett will kick off Berkshire Hathaway‘s annual shareholder meeting this Saturday riding high, with shares of the conglomerate at a record and its
President Joe Biden attends the Democratic National Committee’s “Back on Track” drive-in car rally to celebrate his 100th day in office at the Infinite Energy Center in Duluth, Georgia, April 29, 2021. Evelyn Hockstein | Reuters People who earn more than $400,000 would be subject to the 3.8% Medicare tax, if President Joe Biden’s new
In his first 100 days as president, Joe Biden has proposed more than a dozen significant changes to the U.S. tax code that would raise upwards of $3 trillion in revenue and reduce incentives to invest, save, and work in the United States. While proposing ways to pay for new spending and for expanded refundable
Top 20 Firm Plante Moran announced it has helped the state of California build and launch the Homeless Data Integration System, a resource that will provide access to data relevant to the prevention and ending of homelessness. The Homeless Data Integration System (HDIS) will support the state by eventually providing permanent housing to almost 100,000
President Joe Biden addresses a joint session of Congress at the U.S. Capitol in Washington, DC, U.S. April 28, 2021. Melina Mara | Reuters President Joe Biden has unveiled a plan for higher taxes on inherited homes to help fund the $1.8 trillion American Families Plan. The proposal would tax inherited property gains at death,
President Biden’s American Families Plan would provide tax credits for families and low-income workers, but eliminate a popular tax break for estates and raise taxes on capital gains. The administration unveiled the proposals on Wednesday ahead of Biden’s address to a joint session of Congress on Wednesday night (see story). The plan would extend the
Financial advisors have seen clients make very smart, and pretty dumb, 401(k) plan decisions. FatCamera | Getty Images Lower-income homeowners could benefit from a new refinance program being launched by the U.S. government. Starting this summer, eligible borrowers will be able to refinance their mortgage at a reduced interest rate and lower monthly payment, saving
The Securities and Exchange Commission’s new enforcement chief abruptly resigned Wednesday, citing a complication in a case from her prior legal career, an early and significant setback in Chairman Gary Gensler’s tenure running the Wall Street regulator. Alex Oh’s surprise move, announced just a week after she got the job, means Gensler won’t have his
With news of companies including Microsoft and Google announcing their plans to return to the office, some businesses are putting a swift end to remote work. While organizations begin to initiate their return back to the office, business owners are faced with the decision of whether to continue remote work, return to the office full
The individual income tax is one of the most significant sources of revenue for state and local governments. In fiscal year 2018, the most recent year for which data are available, individual income taxes generated 24.2 percent of state and local tax collections, just ahead of general sales taxes (23.3 percent). The following map shows
President Joe Biden speaks in the Eisenhower Executive Office Building in Washington, D.C., on Wednesday, April 7, 2021. Leigh Vogel | Bloomberg | Getty Images President Joe Biden will formally unveil his new tax plan during his first presidential address on Wednesday that includes a key campaign promise — no one making $400,000 or less
Small businesses are gaining more revenue this year despite the lingering challenges from COVID-19 and reversing last year’s losses, according to a report from Intuit’s QuickBooks unit. The report examined how small and midsized businesses performed financially in different industries and geographies from March 2020 to March 2021, analyzing anonymized revenue data drawn from approximately
Deliberations which began well before the beginning of Louisiana’s legislative session—which has the nation’s latest start date (April 12th)—have yielded a meaningful package of tax reform proposals. Legislators aim to lower the state’s individual and corporate income tax rates, begin phasing out the capital stock tax, and bring sales tax centralization across the finish line—all
In this article ENPH Solaray Director Jonathan Fisk moves a solar panel at the solar power installation company’s Sydney facility. Jason Reed | Reuters Shares of Enphase Energy dipped more than 14% on Wednesday after the company warned about the ongoing impacts of the chip shortage. For the first quarter the company, which makes microinverters
William Thomas Cain | Getty Images About 2 million $1,400 stimulus checks have been issued in a seventh batch of payments. The total number sent to date is now approximately 163 million, for a total of about $384 billion. As with previous rounds of the third stimulus checks, this batch includes money issued to people
Table of Contents Key Findings The Biden administration’s “Made in America Tax Plan” would substantially raise taxes on the activities of U.S. multinational corporations, whether these activities are located domestically or abroad. From the perspective of U.S. multinationals, the proposal would increase their federal tax liabilities by $104 billion in 2022 and $1.2 trillion over
The Illinois CPA Society announced the recipients of its 2021 Outstanding Leadership Awards, highlighting local professionals’ contributions to the profession across a wide range of categories. All winners will be formally recognized at the Leadership Recognition and Awards Dinner, to be held in Chicago later this summer. “It’s always an honor and privilege to recognize
Printing a screenshot is very simple. And there are actually multiple options for doing so. But the exact process varies depending on which computer or operating system you use. Additionally, some users want to print their entire screen, while others just want to print a small section. For all the details on printing screenshots, here’s
Note: The following is the testimony of Scott A. Hodge, President of the Tax Foundation, prepared for the Senate Finance Committee (Subcommittee on Fiscal Responsibility and Economic Growth of the Committee on Finance) for a hearing on April 27, 2021, titled, “Creating Opportunity Through a Fairer Tax System.” Table of Contents Thank you, Madame Chairman,
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