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September 2018

The hubby works on what he calls the Law of Two. Basically, he says, it takes (at least) two tries to get anything done properly. I thought of his unofficial law as I read the Internal Revenue Service's clarification of one of its earlier clarifications. Tax geeks already know I'm talking about the IRS and Treasury declaration a couple of weeks ago regarding state tax credit programs tied to taxpayer deduction of state and local taxes, referred to as SALT. Less tax to deduct: The Tax Cuts and Jobs Act limits the itemized SALT deduction, which includes individual payments of... Read more →


A few election years ago, Republicans were aghast at the level of takers compared to makers. In case you've forgotten, they were complaining that an increasing number of folks, the so-called takers, were escaping their rightful tax payments and getting government help at the expense of the makers, higher earners who tend to put more tax money into the economy. That's still happening. Now, however, in a wonderful bit of political irony, it's the GOP that's responsible for more U.S. households avoiding tax bills next filing season. Big tax cuts for millions: The latest analysis by the Tax Policy Center... Read more →


José Altuve, Major League Baseball's 2017 MVP, heads to the podium in Houston's Minute Maid Park to get his 2017 World Series ring at the Astros' home opener on April 2, 2018. Yes, my photo is blurry, but the stadium was rocking! Football season is here. Professional, college and high school teams have all taken the field for games that finally count. But some of us are still watching baseball. Major League Baseball (MLB) playoffs are nearing and there are tight division and wildcard (don't email me baseball purists; it is what it is) races, some of which will come... Read more →


House Ways and Means Chairman Rep. Kevin Brady (R-Texas) was among GOP leaders who celebrated the six-month anniversary of the party's tax reform bill back in June. Now he and other Republicans want to expand that bill by the end of September. We're still waiting for clarification of many of the new tax laws in the Tax Cuts and Jobs Act (TCJA). In fact, some say we need clarification of clarifications; have you tried to decipher the new 199A business deduction even with the Internal Revenue Service guidance? But such lingering TCJA questions are not stopping Republican leaders from trying... Read more →


There won't be many bets on the Dallas Cowboys to win the Super Bowl next February. Odds makers say that possibility is a 30-to-1 longshot. I'm a fan of the 'Boys and I think that's being way too optimistic! (Cowboys playing Detroit Lions in Dallas by Kay Bell) Professional football fans are ready for some football as the NFL's 2018 season kicks off tonight. And the league itself may finally be ready for some legal gambling on its sport. The reason is, of course, money. Billions in betting-related revenue: National Football League could pocket an added $2.3 billion a year... Read more →


This time of year, my social media streams are full of photos of my friends' children as they head back to class. And it's not just the youngest students being celebrated. Yes, I'm old enough to have peers with kids in college. While all these students' parents are proud of their progeny's new educational milestone, there's also a bittersweet tinge to all those Facebook postings of surprisingly grown up kids. And, of course, there's the realization that this next phase of their youngsters' lives is going to cost them. In some cases, the costs will be a whoooooole lot. Ever... Read more →


Trees in September will see their first fall color. (Photo by Jonathan Bloy courtesy Bloy.net) Hello, September. It's nice to have you back. You are a month that offers mostly-welcome transitions. There are beginnings, as students start a new school year. Parents nationwide say "thank you!" There are endings, as summer gives way to fall's cooler temps and foliage changes. Those of us tired of heat waves want to know what took you so long!?! There are expectations, as the end of the year and its many holidays approach. It's never too early to start planning for these. My Christmas... Read more →


Labor Day 2018 doesn't bring much good news for unions. Membership in the workplace organizations has, at best, stalled. Politicians and the public tend to view them unfavorably. And they lost a tax break in last year's tax reform bill. But there's a faint light for unionized workers thanks to a bill to restore their dues deduction and make the expense easier for more members to claim. Mention "unions" and most of us think of hardhat wearing men, like these members of the Utility Workers Union of America clearing storm damage. But union memberships cover a wide range and variety... Read more →


An EU sign greets international travelers at a passport control checkpoint at Tegel Airport in Berlin, Germany (Voice of America News photo) Many folks are taking one final quick vacation this long Labor Day weekend to mark the end of summer and beginning of the school year. But some folks who are crossing international borders might find they're not welcome. It has nothing, however, to do with the country they want to visit. It's because of their passports have been revoked because they owe big tax bills. How tax bills hamper travel: Since the December 2015 enactment of the federal... Read more →


Sen. John McCain, a decorated U.S. Navy fighter pilot, addressed the Naval Academy Brigade of Midshipmen in Annapolis, Maryland, in October 2017. (Photo courtesy Sen. McCain's Facebook page) The late Sen. John McCain, in keeping with his maverick tendencies to buck even his own political party and to work across the aisle, offered a tax plan during his 2000 quest for the Republican presidential nomination that borrowed from Democrats and Republicans alike. That proposal 18 years ago by the Arizona Republican called for $237.5 billion in tax cuts over five years in such portions that they could be embraced by... Read more →