Simplicity and Transparency Versus the Dread AMT

Ron Tang — Fri, 07 Dec 2007 00:00:00 -0500

No doubt, taxes are complicated. A good example of this complexity is the Alternative Minimum Tax or AMT which is part of our income tax. This is a flawed tax that ignores principles of good tax policy and generates revenue beyond expectation. While Congress is currently trying to keep millions of individuals from paying AMT in 2007, outright repeal would be best.

The income tax has always had "preferences" that reduce one's tax bill. Today these include deductions for dependents, mortgage interest, state income taxes, manufacturing and charitable contributions. Preferences also include tax credits that are dollar-for-dollar reductions in tax… more

Let's Say Goodbye to the Internet Tax Moratorium

adminn — Fri, 10 Aug 2007 10:48:00 -0400

In 1998, Congress enacted the Internet Tax Freedom Act to help the Internet grow.

Congress generously used state and local government tax bases for this assistance rather than federal funds. The act imposed a three-year moratorium on state and local taxes on Internet access and multiple or discriminatory taxes on e-commerce.

Taxes already in existence on Oct. 1, 1998, were allowed to continue. Congress extended the generosity of state and local governments twice more by renewing the moratorium, which now expires Nov. 1.

With the upcoming expiration, Congress must again… more

Silicon Valley / San Jose Business Journal

Simplicity and Transparency Versus the Dread AMT

Let's Say Goodbye to the Internet Tax Moratorium