For decades, Republicans have been the party of tax cuts. But now, those at the top of the financial food chain may find themselves in for a surprise that reflects the Republican party’s evolution from the party of the rich to the party of the working class.
tax strategy
Jump Into the Void
Don’t look now, but April 15 is almost here! Ordinarily, that means money gushing in for our friends at the IRS. Last year, they took in $5.1 trillion, or 95% of all government revenue. Since then, the economy has grown 2.8%, suggesting we should see a similarly sized increase in revenue.
Can You Use a 1031 Exchange When Buying for Family? Here’s What You Need to Know
If you’re planning to buy a rental property for your son, or any other related person, especially as part of a 1031 exchange strategy, here’s what you need to know.
Wanted: Dead or Alive
It’s no secret Uncle Sam has been living above his means. He hasn’t balanced his budget since 2001. He put trillions on his American Express card to pay for Covid relief. And now, as he struggles to extend the Tax Cuts and Jobs Act of 2017 later this year, he’s fighting to flesh out a budget resolution that authorizes $86 trillion in spending through 2034. If he was your real uncle, you might be googling “Debtors Anonymous” meetings in your neighborhood.
The Other Awards Show
The IRS doesn’t host anything quite so glamorous as the Oscars. There’s no red carpet. There aren’t any reporters asking who the stars are wearing (and for the IRS, it wouldn’t be more glamorous than Kohl’s). There aren’t any all-night after-parties in Beverly Hills or Bel Air. But they do have their own awards list. Last week, the IRS released its 2025 Dirty Dozen list: “the worst of the worst tax scams.”
Top 10 Words That (Sort Of) Rhyme With “Tax”
Late-night talk show host David Letterman delighted audiences with his wry, subversive “Top Ten” lists for an impressive 33 years. Since he left his show, BuzzFeed has taken over the listicle game. So here, in their honor, we present The Top 10 Taxing Words That (Sort Of) Rhyme With “Tax.” Drumroll, please!