U.S. Rep. Bruce Poliquin (AP file photo) Calling for “fairer and lower taxes for Maine families,” U.S. Rep. Bruce Poliquin on Thursday said of his initial review of a proposed sweeping tax overhaul in Congress that it “could have a significant impact on the amount of take-home pay in people’s paychecks.” The House plan unveiled […]
taxes
Posted inNation / World
Republicans’ tax plan lowers mortgage interest deduction cap, cuts tax breaks
WASHINGTON — House Republican leaders on Thursday proposed legislation that would overhaul the U.S. tax code and jettison numerous tax breaks that Americans and businesses have used for years to limit their taxable income. The release of the proposals launched into motion a frantic political effort that could impact almost every American. In a number […]
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Posted inMaine, sj-web
Bruce Poliquin, Chellie Pingree split on House budget measure
Maine’s two members of the U.S. House split Thursday on budget legislation billed as a crucial step toward a major tax cut for American businesses and perhaps many families as well. “This budget is the first step toward creating fairer and lower taxes for Maine families and for creating jobs and improving the economy,” U.S. […]
Posted inNation / World, sj-web
Donald Trump, GOP tax plan cuts rates, nearly doubles deduction
President Donald Trump speaks during a meeting with members of the House Ways and Means committee in the Roosevelt Room of the White House, Tuesday, Sept. 26, 2017, in Washington. GOP tax document reveals plan for massive tax cuts, preserves key deductions Damian Paletta, Mike Debonis, The Washington Post WASHINGTON — Republicans on Wednesday will […]
Posted inNation / World, sj-web
Donald Trump, GOP tax plan cuts rates, nearly doubles deduction
President Donald Trump speaks during a meeting with members of the House Ways and Means committee in the Roosevelt Room of the White House, Tuesday, Sept. 26, 2017, in Washington. (AP Photo/Evan Vucci) WASHINGTON (AP) — President Donald Trump and congressional Republicans are proposing a far-reaching plan to cut taxes for individuals and corporations, simplify […]
Posted inOp-Eds, sj-web
America needs higher taxes, not lower
WASHINGTON — Can we get real about “tax reform,” the Republican promise to enact deep tax cuts that will spur economic growth? Probably not, but let’s give it a try. For starters, we can stop calling it “reform.” That’s a charged word, implying that the new tax system will be superior to the old. We […]
Posted inBusiness, sj-web
Delayed health-insurance tax to hit insurers in 2018
Health insurers won a victory in 2015 when a tax that was part of the Affordable Care Act was suspended. Now as they fight to repeal or delay the tax again before it comes back into effect, the odds don’t seem to be in their favor. Insurers, businesses and conservative groups are scrambling for ways […]
Posted inBusiness, sj-web
How a marijuana retailer pays his taxes
LOS ANGELES (AP) — Jerred Kiloh’s eyes narrowed as he checked his mirror again. The black Chevy SUV with tinted windows was still behind him. It had been hanging off Kiloh’s bumper ever since he nosed out of the parking lot behind his medical-marijuana dispensary with $40,131.88 in cash in the trunk of his hatchback. […]
Posted inMaine
Trump plan to end state and local tax deductions likely to prove difficult
As Republicans try to figure out a way to deliver on tax cuts President Donald Trump promised, they’re taking a hard look at the possibility of eliminating the income tax deduction for state and local taxes. Though Congress is unlikely to go along, it’s a move that would sock many Maine taxpayers who file federal […]
Posted inLetters
Wind project for Dixfield
Dixfield faces steep tax increases because of the decision to leave RSU 10. The town needs to expand its tax base. A wind project would accomplish this. The local ordinance, which is in place with state standards, would bring in much needed tax dollars. Changes made to sound limits or boundary distances would prohibit any […]