Well, I’m amazed to be marking today the 18th anniversary of starting this 21st Century Taxation Blog – and that we are still in need of having a 21st century tax system that reflects how we live and do business
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SE Tax, NIIT, Additional §1401 Tax – What’s Up?
There has been more focus on self-employment tax in recent years than in many years prior. There is ongoing litigation on what “limited partner, as such” under Section 1402(a)(13), added in 1977, means. This special rule provides that net earnings…
Minnesota Proposes Social Media Tax
Minnesota SF 3197 would impose a gross receipts tax on social media platforms that collect data from over 100,000 Minnesota consumers in a month. The rate depends on how many consumers data is collected from starting at 10 cents/customer/month if…
Property Taxes Pay For Services; No Relation to Your Mortgage
In his State of the State address on March 4, 2025, Florida Governor DeSantis made this statement: “While Florida property values have surged in recent years, this has come at a cost to taxpayer squeezed by increasing local government property taxes.…
Unusual Proposed Exclusion for Crypto Gains
HB 453 introduced in the Montana Legislature on February 11, 2025 calls for the Department of Revenue to create a program to allow state income taxes to be paid with cryptocurrency through arrangements with one ore more third party payment…
What’s So Special About Tips to Make This Income Non-taxable?
Both presidential candidates offered a tax law change to make tips non-taxable. A few days after the inauguration, President Trump was in Las Vegas at a rally for “No Tax on Tips.” What is so special about tips to…
Improving Tax Systems
Federal Tax Treatment of Proposed NY Inflation Refunds
12/9/24 news releasePer a December 9, 2024 story at the New York State website, Governor Hochul has proposed “sending 8.6 million New Yorkers an Inflation Refund Check as first proposal of 2025 State of the State.”The rationale is that…
7th Anniversary of Tax Cuts and Jobs Act Enactment
P.L. 115-97, An Act to provide for reconciliation pursuant to titles II
and V of the concurrent resolution on the budget for fiscal year 2018, commonly known as the Tax Cuts and Jobs Act (TCJA), was signed into law…