Category Archives: Taxes

Proof You can only Push High Net Worth and High Income Individuals So Far!

Proof You can only Push High Net Worth and High Income Individuals So Far!

One of my favorite sites, The Tax Foundation, had a phenomenal couple posts about Maryland’s so-called Millionaire Tax.  The two main posts are, Maryland’s Millionaires Missing After Tax Hike and Maryland’s Lawmaker Proposes making Millionaires’ Tax Permanent.  Maryland, like many other States out there are hurting for cash, so what else can a state to

Long Term Care Insurance May be Federal Income Tax Deductible

I have discussed in the past that Long Term Care Insurance may be state income tax deductible, but I have never really went into the federal tax aspects Long Term Care Insurance. Luckily, I don’t have to.  Every year there is an update released by The Corporation for Long-Term Care Certification. http://myjourneytomillions.com/2010_One_Page_Tax_Summary.pdf My Opinion of Long

There are Many Ways to Commit Tax Fraud

There are Many Ways to Commit Tax Fraud

Most people assume that the only way to commit tax fraud is not to pay it or to lie on those documents.  However, in New York, and probably most other jurisdictions, there are numerous ways to commit tax fraud. Like the Federal Government, and most other States, New York is short on tax revenue and in

Want to See Your Marginal Tax Rate if Health Care Surtax Passes?

Want to See Your Marginal Tax Rate if Health Care Surtax Passes?

It almost seems inevitable at this point in our history that marginal tax rates will increase.  Now, they (read: government) wants to start charging a surtax? I am not sure why it is called a surtax rather than just calling it what it is – an increase of your income taxes. The Tax Foundation is