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Sin Taxes

What are Sin Taxes? 

Not only are taxes as old as civilization, they can apply to virtually anything you can imagine. We have taxes on an incredibly wide range of products and services. In one of our posts, for instance, we discussed a tax on untethered hot-air balloon rides in Kansas! Not only are there taxes on a wide variety of items, […]

Taxes

10 Bizarre Taxes Around the World

Taxes are literally as old as civilization. The ancient Egyptians developed a primitive form of of them. They involved setting aside a certain portion of one’s crops to be given to the pharaoh; various other types have existed in every stage of recorded history. Because they’ve been around for so long, there’s been enough time for […]

personal income tax

Why Do We Have a Personal Income Tax?

In 2018, we’ve become accustomed to the federal income tax as a matter of our everyday reality. It’s hard to believe that, at one point, it wasn’t necessary for Americans to pay tax on their personal income. But, in fact, the U.S. federal income tax structure is now just a bit over 100 years old. […]

Reverse 1031

An Intro to Reverse 1031 Exchanges 

Section 1031 like-kind exchanges have come up on our blog multiple times in the recent past. This isn’t surprising. Section 1031 can be an extremely powerful wealth maximization tool. It figured prominently as a matter of debate in the most recent series of tax code revisions. Fortunately for taxpayers, the real estate provision of Section 1031 survived the […]

Step Transaction

Step Transaction Basics & the IRS

One of the things that makes law such a fascinating field is the way that it forces us think in ways which are generally foreign to most of us. To think in “legal terms” is to think analytically, to mentally break down events in such a way that causality can be unraveled and properly assigned. […]

Tax Cuts & Jobs Act

Key Tax Cuts & Jobs Act Points 

Tax is a constantly evolving field, endlessly shifting and changing in response to public expectations and societal needs. If you take a break from the tax field and return, there’s a good chance you’ll be a bit clueless. This is true even for those who only take a very short break. Tax law changes rapidly. Accordingly, it’s imperative […]

New York Sales Tax

The Bizarre New York Sales Tax 

If forced to identify a tax that most consistently “falls under the radar,” we would select the New York sales tax. With sales tax, we can say that familiarity has certainly bred obliviousness: sales tax is one of those extra fees which nearly everyone overlooks and forgets about. In fact, most consumers in the United […]

Bitcoin taxation

The Shifting Sands of Bitcoin Taxation 

The rise of bitcoin and other cryptocurrencies has brought about a whole new set of fascinating taxation issues. Currently, the market value of bitcoin is in the low $8,000 range, as of today it is approximately $8,270. Its value has fluctuated widely over the past several years. At its peak, bitcoin boasted a market price of […]

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