It is no secret to our Minneapolis readers that this is a Presidential election year, and that the outcome is uncertain. Will deductions change? Will the tax rate change? And what will Congress do? Will we go off the so-called fiscal cliff? It appears that there may be a dividend cliff as well. Those whocontinue reading…
Tax reciprocity with Wisconsin must wait until 2014
Those of us in Minnesota who have been to school (and who hasn’t) remember that when you miss a deadline for getting a paper turned in, that your grade suffers accordingly. Your teacher was not happy. Your parents were not happy. You did not get the “A” that you so richly deserved. That is somewhatcontinue reading…
Tax havens can work if you can stand the paperwork
Our economic and social world is full of systems which balance themselves either naturally or with a little help. As interest rates go down, the housing market tends to up. When bond prices rise, stock prices usually fall. For every plus, there seems to be a minus. It was recently reported that there is acontinue reading…
Back taxes pose political problem for state lawmaker
It is an unfortunate reality in life that when you run for elected office, your life becomes more public as a result. Most of the time this does not pose an issue for Minnesota lawmakers who find it possible to exist largely out of the media spotlight. Occasionally however, the spotlight falls upon something thatcontinue reading…
Recording artist may need to pay a princely sum, says IRS
In previous posts we have alerted our Minneapolis readers about the perils of ignoring letters from the Internal Revenue Service about back taxes owed. The IRS is seeking to step up its collections through audits and an increased emphasis on unreported income from offshore bank accounts. Other countries are cooperating with the IRS in thiscontinue reading…
