tax loopholes

Obama Presses Congressional Republicans to Avert Sequester

President Barack Obama is urging congressional Republicans to accept more tax revenue in order to avert the sequester -- an $85 billion, across-the-board budget cut due to take effect March 1 that could derail America's still stuttering economic recovery.

Debt Crisis Looms as Congress Digs in Its Heels

Legislators show no signs they're heading toward compromise in resolving the nation's next financial crisis, with Democrats talking about further taxes hikes on the rich, and Republicans saying a crippling default on U.S. debt is possible unless they get significant cuts in government spending.

Presidential Debate Preview: What They'll Say About Taxes

In Wednesday's much-hyped debate between Barack Obama and Mitt Romney, few topics will loom larger than taxes -- a subject about which the two parties and their standard-bearers are fundamentally, philosophically divided. Here's what you're likely to hear.

Here's a Corporate Tax Loophole a Porsche Could Drive Through

America used to stand alone among Western nations when it came to corporate tax-dodging. No more: Just as we've exported Hollywood and fast food to the world, we're apparently exporting that aspect of our culture too: Witness how Volkswagen and Porsche are beating one big tax bill.

How Thousands of Wealthy People Pay No Taxes (It's Totally Legal)

Debate all you like about whether the rich pay their fair share in taxes, but this is certain: Some high earners pay no taxes at all. A recent IRS study found that 35,000 U.S. taxpayers earning $200,000 or more paid no income tax in 2009. Curious how they pulled it off? Read on...

Obama Plan Closes Some Loopholes, Opens Others

Cutting corporate tax rates and the deleting loopholes that let some companies pay little or nothing in taxes is just what most economists prescribe for the tangled U.S. tax code. So why isn't everyone cheering the plan President Obama unveiled Tuesday to do just that?

30 Top Companies Spent More on Lobbying than Taxes

Thirty large American corporations -- all of them profitable -- spent more money on lobbying than they paid in federal taxes from 2008 to 2010, according to a report from the nonpartisan reform group Public Campaign.

Apple: More Cash Than the U.S. Government?

As the debt ceiling insanity in Washington goes on, all that's certain is that the government is rapidly running low on cash to pay the bills. The amount left is now roughly $73.8 billion -- which sounds like a lot, until you realize that Apple's cash reserves are $2 billion more than that.

Financial Landscape: Dreary Polls and Tax Loopholes

Nearly 90% of Americans still see owning a home as a key part of the American Dream, but 39% see us in a permanent economic downturn. Meanwhile, Obama has set his sights on closing tax loopholes for businesses and the rich, but the Fed just cut banks a break in new rules on debit card swipe fees.

This Gift-Tax Change Is a Huge Gift -- If You're Wealthy Enough

A temporary change in the tax code is creating a sweet opportunity. Through 2012, the amount you can give in tax-free gifts jumps from $1 million to $5 million. In this video, Kevin Sanderford, principal of Colorado West Investments, explains how you can take advantage of this "huge opportunity."

Obama's Cuts: Less Than Meets the Eye, Thankfully

A parade of Republicans immediately lined up to attack the president's proposed budget cuts this week, claiming the plan falls short of making a real difference. They're right. And that's good, because really deep cuts are the last thing the economy needs right now.