WAMC's Brian Shields speaks with tax attorney and certified public accountant John Lavelle of Lavelle & Finn, LLP.
The dreaded drop off the fiscal cliff has been avoided, so what does it mean for our taxes. Before the agreement, there were dire predictions that many middle-class Americans could see their yearly tax bills go up by some three thousand dollars, if Congress and the White House did not agree on a tax and spending plan by the time the ball dropped in Times Square.
Republican Senator Scott Brown and Democratic challenger Elizabeth Warren have sharp differences when it comes to taxes, with both claiming their policies would lower taxes for the middle class.
Brown and Warren both support extending Bush-era tax cuts for families earning less than $250,000 per year. Warren, however, wants the cuts to expire after December 31 for those above that income level, while Brown would extend cuts for Americans in all tax brackets.
President Barack Obama is accusing Republican Mitt Romney of caving under pressure from Rush Limbaugh for saying that requiring all Americans to buy health insurance amounts to a tax.
Obama says in an interview with NBC affiliate WLWT in Cincinnati that Romney supported the individual mandate as Massachusetts governor but "has suddenly reversed himself." Obama says it raises questions over whether Romney is abandoning a principal after "getting pressure for two days from Rush Limbaugh" or other critics.
Amazon.com is opening a research facility in Cambridge and is acquiring a robotics facility in North Reading, and some are now wondering if the company is subject to the Massachusetts sales tax.
A 1992 Supreme Court decision said that states cannot make out-of-state businesses collect sales tax. In other words, a retailer must have a physical presence in the state to pay sales taxes. Spokesman for the Massachusetts Department of Revenue Bob Bliss…