When we moved to Michigan from Florida in 2014, we braced ourselves for a dramatic change in weather (hello, snow!) and our state tax bill (good-bye, income-tax-free Florida!). We also learned from a newly-retired Michigander that when the time comes, we’d have to pay the state’s 4.25 percent income tax on pension income.
A year after moving to our new home in Michigan, we faced a big property tax hike. We swallowed hard, but paid it. After all, we had little choice, and it did reflect an increase in the value of our house. Then there is the story about homeowners in Chicago.
Congress is in recess through the mid-term elections. The Daily Deduction will post each Monday until then. Counting devices before they hatch? Should the GOP take the Senate in November , medical device makers may see a renewed push to repeal the 2.3 percent excise tax on their products. The tax
The thing about pension smoothing: The bumps always come back. Neither the Committee for a Responsible Federal Budget nor TPC’s Len Burman will suspend disbelief when it comes to the latest gimmick to patch the Highway Trust Fund. Maybe “stupid tax tricks” work politically but “pretending to raise