Tag Archives: tax reform

Twisted Tax Logic: Whatever the Government Doesn’t Tax, It “Spends”

Pete Kasperowicz of the Washington Examiner has an illuminating article that highlights the Newspeak that surrounds the taxation and spending policy among the Democrats in Washington. In “Dems cave, agree to massive federal spending cuts”, Kasperowicz reports on Rep. Gwen … Continue reading

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Tax Reform Act of 2014 – Capital Gains and Qualified Dividends

Title I —> Subtitle A —>Section 1002 Title I —> Subtitle E —>Section 1405 Title III —> Subtitle G —>Section 3621 Pages 34-39, 159-160, 663-676 of the Tax Reform Act draft Pages 3, 35, 120 of the Ways and Means explanation JCT Technical Explanation … Continue reading

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TRA of 2014 – Tax Rate Changes (Ordinary Income)

Title I —> Subtitle A —>Section 1001 Pages 14-34 of the Tax Reform Act draft Pages 1-3 of the Ways and Means explanation JCT Technical Explanation JCX 12-14, pages 2-9 (pdf pages 7-14) The current 2014 tax rate brackets are … Continue reading

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An Overview of Existing Individual Tax Law

Before the analysis begins, the formula for taxable income and tax needs to be spelled out in more detail: (Gross income) minus (deductions) equals (adjusted gross income) (Adjusted gross income) minus (standard or itemized deductions) minus (personal and dependent exemptions) … Continue reading

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Tax Reform Act of 2014 Draft Legislation – General Overview

In conjunction with Representative Dave Camp’s rollout of the draft legislation of the Tax Reform Act of 2014, the House Ways and Means Committee has prepared a section-by-section summary that discusses the current law, what this legislation would change, what considerations … Continue reading

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Dave Camp releases long-awaited tax reform plan

On Wednesday, Representative Dave Camp released his plan to make major changes to the federal tax code.  A Republican from Michigan and Chairman of the House Ways and Means Committee, Camp introduced the Tax Reform Act of 2014 (TRA), a … Continue reading

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