taxes

For example, is a tenant required to pay additional rent based upon increase in real estate taxes if the landlord itself is exempt from the payment of those taxes?

When that occurs, the company does not recognize the tax benefit and credit to APIC for the additional deduction until the deduction actually reduces taxes payable.

Instead, the federal government funded its limited activities through highly regressive consumption taxes, mainly protectionist import duties.

If you're in, say, the 28% tax bracket, a $2,000 IRA contribution reduces your taxes by $560.

Page (Deloitte & Touche LLP): Consumption taxes typically are labeled as much more regressive than the system we have now, meaning that the bottom 80 percent of income earners will suffer a tax increase, while the top 20 percent will get a tax decrease.

While many consumers believe that the Internet Tax Freedom Act (ITFA) exempted Internet sales from sales and use taxes, it actually placed a three-year suspension (renewed and currently scheduled to expire in 2007) on three specific taxes.

taxes on the transfer of * All real and personal property situated in the United States.

For starters, contrary to popular belief, the property tax serves as a vital complement to other types of taxes. For instance, our income tax system may be geared to collect more from the affluent, but it also includes numerous loopholes that allow the rich to slip out of paying an amount of tax truly commensurate with their wealth.

Kotlikoff found that replacing the income taxes with a retail sales tax would more than double the savings rate (after all, the whole world outside consumption becomes an IRA), increase the capital stock by a third, and boost national output by nearly a half trillion dollars.

The recent election sent to Congress droves of new members intending to cut taxes. President Clinton was elected, in part, because he promised a middle-class tax cut.

The best you can hope for under the new law is that your tax bracket will stay the same, although you'll still end up paying more in consumption taxes (like the sur-charge on gas).

"Accounting for income taxes" was a topic left to instructors of intermediate or advanced accounting classes.

Bush called "voodoo economics." A year later, California passed Proposition 13 capping property taxes, and Time magazine almost ran out of extreme metaphors--"avalanche," "earthquake," "revolutionary"--to describe it.

Finance Minister Flaherty observed recently that "Canada stands out as one of four OECD countries that still impose capital taxes and one of three that impose retail sales taxes on investment.

If they are not, they are subject to federal taxes and a 10% penalty.