Tax Compass

  • Tax Compass: Letters to the Editor

    By:
    TaxStringer Staff
    |
    Nov 1, 2016

    The letters to the editor below are comments from readers in response to Daniel Mazzola’s opinion piece, “Why the Estate Tax Should Concern Us All,” which appeared in the October 2016 TaxStringer.

  • Fundamental Tax Reform Is Mostly Dead—but Not Quite

    By:
    Curtis S. Dubay
    |
    Oct 1, 2016

    In the classic children’s movie The Princess Bride, Billy Crystal plays a miracle-performing medicine man. When the hero of the story is brought to him, Crystal’s character says that he is “mostly dead.” That is an apt description of fundamental tax reform’s current state. 

  • Setting the Tone: The Broken Windows Theory and Tax Policy

    By:
    David Tunstall, CPA
    |
    Sep 1, 2016

    The presidential campaign is in full swing, and with it comes tax policy proposals from each candidate. Both candidates have said they will help middle class families by raising taxes on the wealthy. So what are they talking about? Who is the wealthy? How would they do that? Is it true?

  • Mortgage Interest Tax Deduction

    By:
    Daniel Lahage, CPA
    |
    Jun 1, 2016
    During every election cycle, a set of tax proposals set forth by candidates become topics for debate. Whether or not each candidate will actually be able to implement that tax policy is another question. 
  • Tax Haven, USA

    By:
    Erica Rubin, CPA, CGMA
    |
    Jun 1, 2016

    International tax structuring and cross border planning has always been a complex and evolving process. The massive leak at Mossack Fonseca, the Panamanian law firm responsible for setting up countless offshore companies, along with the U.S. Treasury Department’s challenge to the corporate inversion “loophole” have brought forth issues that will again challenge the status of tax havens in the global marketplace.

  • Carried Interest: Labor vs. Capital

    By:
    Daniel G. Mazzola, CPA, CFA
    |
    Apr 1, 2016
    The U.S. government promotes business activity via the I.R.C. by taxing the profits of the sale of investment assets held for at least one year at a lower rate than the one at which income for services rendered is taxed. 
  • Is It Time For A Flat Tax On Private Foundations?

    By:
    Robert Lyons, CPA, MST
    |
    Apr 1, 2016

    Under our current federal tax structure, private foundations pay a 2% excise tax on their net investment income when filing Form 990-PF.  In certain years, the 2% rate can be reduced to 1% when the foundation’s charitable distributions exceed the average distributions during a five-year averaging process. This is determined on Part V of Form 990-PF. 

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