March 15, 1987 |
Like thousands of other graduate students, Sacha Nelson has racked up a hefty debt (about $20,000) and squeaks by on a modest annual stipend ($8,000). Now, for the first time, he soon will face the additional hardship of taxation on his meager academic income. "I'm figuring around $1,000 a year in taxes," said Nelson, 27, a UC San Diego biology student who does neurophysiology research at the Salk Institute. "At the worst, I'm hoping I'll have to borrow an additional thousand a year."
May 18, 1986
The Senate Finance Committee's tax bill provides for 15% and 27% tax brackets. The 27% bracket would apply to a joint return if a couple' taxable income exceeds $29,300. This plan and the tax plan approved by the House of Representatives has one glaring inequity that I have not heard discussed. Taxpayers with a taxable income at the borderline between the two brackets (three brackets with the measure passed by the House) will need an extraordinary raise in salary (or other income)
February 21, 1985 |
QUESTION: I have less than two months to go to tax time, and my wife and I still haven't decided where to put our IRA money this year. The last two years, we have taken the easy way out and put it in a certificate of deposit at our bank. But this year, a lot of my friends are buying zero-coupon bonds with their IRA money, and for that reason alone my wife and I are thinking of doing the same. Can you tell me something about them and why they are considered good IRA investments?--F.S.
September 24, 2000 |
Attorney Jennifer C. Pizer isn't quite sure how much it cost when she added her life partner to her health insurance plan. But she knows her tax bill shot up by several hundred dollars--a typical and often unforeseen consequence of using a company's domestic partner benefits. "I've repressed [the tax cost], it just made me so angry," said Pizer, managing attorney of the Lambda Legal Defense and Education Fund's West Coast office in Los Angeles.
January 24, 2012 |
Frequent-flier miles clearly have value — why else would people want them? But do they also represent taxable income? Citibank seems to think so. It's sending tax forms to people who received thousands of miles as a reward for opening a checking or savings account. Those forms value each mile at about 2.5 cents and list the total dollar amount as miscellaneous income. This is news to tax pros. "I've been practicing for 25 years and I've never had an instance where miles have been treated as taxable," said Gregg Wind, a West Los Angeles certified public accountant.
June 4, 1999 |
Millions of U.S. workers will get a modest income tax cut this year because of a change in the way the federal government figures the value of group life insurance provided by their employers. Final federal regulations released Thursday, and that take effect July 1, are based on updated mortality estimates showing that people are living longer and that women now make up roughly half the U.S. work force.