RichC | February 17, 2024
As an entrepreneur who has owned a business that sells in several Ohio counties and collects sales taxes (all counties are different), I do monitor the steady sales tax percentage increase over the decades of doing business. It is also interesting to know how managing a business in Ohio compares to other states (click map […]
RichC | January 28, 2024
An email newsletter from the Tax Foundation offered up a few interesting tax oriented tidbits. Lady Godiva As the story goes, Lady Godiva famously rode a horse through Coventry, Warwickshire . . . in the nude. But why did this 11th-century noblewoman choose to do such a thing? Taxes. Lady Godiva pleaded with her husband, […]
RichC | May 27, 2023
Once again, politicians are taking our US SPENDING and BORROWING problem right to the wire. Everyone knows that eventually politicians will just raise the debt ceiling and borrow more. The Republicans want spending cuts and the Democrats want a “clean increase” so as to be able to pay promised liabilities (previous spending) and we all […]
RichC | October 23, 2022
The Federal tax brackets are adjusted each year by the IRS based on inflation numbers in an attempt to stop “bracket creep.” This prices have soared as in September 2022 consumer prices were up 8.2% compared to 2021. It is likely most Americans have not seen that kind of wage increase which means their buying […]
RichC | October 18, 2022
As a former GOP VP hopeful would say, “You betcha.” In catching up on my Tax Foundation reading, one of their recent emails highlighted what internationally we have seen in off and onshoring is that businesses go to where they are treated best. It most often has to do with a companies lowest cost of […]
RichC | August 7, 2022
While discussing the “will it” or “won’t it” Inflation Reduction Act being pushed by Democratic leadership in Washington DC as a way to replace the failed 2021 Build Back Better spending plan by President Biden last week, I figured digging into the details might prove better than spewing left or right talking points. The bill […]
RichC | September 18, 2019
Does Your State Have a Marriage Tax Penalty? It isn’t always easy to decipher the tax impact of marriage on taxes, but the Tax Foundation summarized the tax code “marriage penalty” and offers an overview map. YMMV. Under a progressive, graduated-rate income tax system, tax rates increase as a taxpayer’s marginal income increases. A marriage […]
RichC | September 9, 2019
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RichC | February 7, 2019
The 2018 wireless phone Tax Foundation report came out in December 2018 and although we may have seen income tax rates drop, wireless phone plans continue to be ripe for the taxman’s pickings. It is shocking to see such a wide rate structure from all the different states (map above) but that doesn’t tell the […]