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Tag Archives: taxes

SCOTT: Several important post-April tax developments

As another year’s tax day filing deadline came and went, several interesting, and potentially significant, tax-related developments surfaced that have a direct or indirect impact on us here in Mississippi. One development took place next door in Louisiana, another here, while the third emanates from Washington, D.C. First, in Baton Rouge in early April, Gov. Bobby Jindal reversed course on ...

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CRAWFORD: Reshoring output requires STEM input

Reshoring is the catchy name used to describe efforts to bring manufacturing jobs back to America. It includes the return of jobs “off-shored” or “out-sourced” by U.S. companies as well as jobs brought to America by direct foreign investment. While General Electric, Caterpillar and Ford have brought jobs back to the U.S., we see more direct foreign investment jobs. The ...

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Errors and record mismanagement can be costly

It’s the little things that can get taxpayers. Simple math errors, poor penmanship or hurriedly filling out your tax form at the last minute account for loads of filing errors. And those slip ups, which typically happen with paper returns, give the Internal Revenue Service another opportunity to tout the benefits of filing taxes electronically. “We strongly suggest that people ...

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Putting your tax refund to work

According to a recent TD Ameritrade poll, 47 percent of U.S. taxpayers expect a refund this year. The important question to ask is: What do they plan to do with the money? The answers may surprise you. While 15 percent of the survey respondents indicated they would spend their refunds on discretionary purchases, 47 percent said they would save the ...

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A nice tax surprise for April

Anytime I write about financial products that are also offered through my practice, I run the risk with this column of taking what some may view as unfair advantage of promoting products I also happen to write. While I think my many years of writing a financial column has dispelled this notion, I am sensitive to this criticism and do ...

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Bill seeks to end accelerated sales tax system

Legislation that sits in the House and Ways and Means Committee would offer relief at the end of the state fiscal year for taxpayers who collect sales taxes. Currently, taxpayers who collect sales and use taxes — which encompasses almost all of the state’s small businesses — are allowed to remit them to the state no later than the 25th ...

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Mississippi job levels fall to an alarming 17-year low

Mississippi’s job levels sank to their lowest levels since 1996 last year and ended the year looking slightly worse than 2011, the first quarter Mississippi Economic Outlook reports. The January report from the Mississippi Institutions of Higher Learning was not all gloom, however. Leading indicators such as retail sales, tax collections and housing starts have trended upwards since July. Both ...

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The fiscal debacle: Government working as was truly intended?

Is the fiscal cliff scenario a failure of our system of government or government functioning as intended? One need not venture far these days to hear a fairly common assessment of the current state of affairs pertaining to government in the nation’s capital. Usually, references are made to a totally broken governing mechanism. Furthermore, the befuddled average citizen often lays ...

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Some fiscal cliff scenarios

Will 2013 be as severe as some economists think? Many think a lot will depend on what happens with our country’s so called “fiscal cliff” scenario as the deadline looms closer and closer. Question is; how will Congress respond? In the worst-case scenario, Congress argues and deadlocks. Mandated tax hikes and roughly $109 billion in federal spending cuts takes place ...

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