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California's Soda Tax

Why California’s Soda Tax Matters to New York

By now, our readers should be quite familiar with the basic concept, purpose and distribution of soda taxes. As we’ve discussed, soda taxes are a specific example of sin taxes.  As we’ve discussed, sin taxes are designed to both deter harmful consumption and also fill the coffers of state treasuries. State and local governments throughout the country […]

Soda Taxes

States with Soda Taxes 

In the past, we’ve devoted a bit of time to discussing “sin taxes” as a general concept.  We’ve identified and discussed several specific sin taxes from around the nation. Sin taxes serve multiple purposes.  For one, they are an additional source of revenue for state coffers.  They also offset some of the costs placed on […]

Debt Consolidation Terms

Common Debt Consolidation Terms

We’ve previously provided concise definitions for various terms related to debt resolution.  We also discussed the basic purpose and mechanics of debt consolidation in the earlier post. In this post we’ll continue in the same vein and discuss several important debt consolidation terms. We’ll develop a glossary of debt consolidation terms.  That way, our readers can increase […]

stock donations, charitable contributions

How to Maximize Deductions Thru Stock Donations

Recently, we discussed a rather clever strategy of using unsecured loans to avoid having substantial gifts be included in one’s estate and, therefore, be subject to gift tax. In the future, we’d like to continue to highlight and discuss similar clever plans.  Each well discuss ways to reduce tax burdens and maximize an individual’s financial condition. Tax […]

cancellation of debt

Is Cancellation of Debt Income?

Tax relief is a major part of our professional practice.  It follows, then, that we should expend some ink going over what constitutes taxable income.  One of the more confusing forms of taxable income is the phantom income known as cancellation of debt or, simply, COD income.   It’s the source of many bewildered telephone calls to this law […]

tax evasion

A Look at Celebrity Tax Evasion

So far, we’ve devoted a couple of blog posts to look at the celebrity financial difficulties. We’ve looked at celebrity bankruptcies and, more generally, looked at celebrity tax troubles.  Here, we’d like to continue this review.  Accordingly, in this post, we’re going to look at a few public figures who’ve gotten themselves into really big […]

debt resolution

A Guide To Tax Resolution Terms

As we’ve pointed out before, tax resolution is a major focus of our practice here at Mackay, Caswell & Callahan, P.C., and for that reason we’ve covered a number of different topics related to this focus. Resolving tax obligations with the Internal Revenue Service and New York State is a primary focus of ours. Throughout our various […]

OIC tax attorney

How to Hire an OIC Tax Attorney

We’ve covered offers-in-compromise (OICs) before in our blog posts.  That’s for good reason: here at Mackay, Caswell & Callahan, tax relief is a major area of our practice.  OICs can be a very attractive option for resolving back tax debt in certain cases. When someone owes tax debt to the IRS, he or she can submit an OIC.  It […]

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