Bringing you just the headlines

  • Amazon Paid Zero Corporate Tax For Second Year In A Row

    Submitted by President Trump has never hidden his disdain for cyber-retailing giant Amazon Inc., accusing the company of unfair tax practices and antitrust violation. The president probably won’t be too amused by a new report that the company avoided paying any federal income tax in 2018 for the second year in a row despite posting billions of dollars in profits. The purveyor of two-day delivery of just about everything posted a massive net income of $11.2 billion in fiscal 2018...

    Zero Hedge
  • "This is the GOP tax cut in action: screwing over working families and handing out tax breaks to large banks and corporations."

    "This is the GOP tax cut in action: screwing over working families and handing out tax breaks to large banks and corporations."

    Common Dreams
  • Amazon pays NOTHING in federal corporate taxes

    The Seattle-based delivery giant doubled its profits in 2018 but actually received a tax rebate of $129million, paying an effective rate of minus one per cent, according to a think tank.

    Mail Online
  • 40% Of Canadians Pay Zero Income Tax

    Authored by Alex Kimani via, Here's an unexpected factoid: the commonly held belief that the average Canadian pays more taxes than the average American is an old wives’ tale. A 2018 study by the Organization for Economic Co-operation and Development (OECD) showed that the average single Canadian with no kids paid 22.8 percent of their income as taxes in 2017, ranking as the 11th lowest among the OECD’s 35 countries. It also compares to 26.1 percent by the average American. But...

    Zero Hedge
  • Fed official says rates are in 'a good place'

    The Federal Reserve isn't making a sharp U-turn when it comes to raising interest rates over the coming year, even amid growing concerns about a global slowdown, according to a top official. After gradually hiking rates beginning in December 2015, the US central bank backed off in January, raising questions about whether policymakers were worried they'd overcorrected -- or were bowing to political pressure from President Donald Trump, who has broken precedent by openly voicing his displeasure...

  • Will my business income qualify for a lower tax rate?

    The QBI, or Qualified Business Interest, is a deduction, not a new tax rate. Q. I have an LLC and I work as a freelance photographer. Will that income be eligible for the 20 percent tax rate? -- Photographer A. You're asking not about a 20 percent tax rate, but the Qualified Business Interest (QBI) deduction. This comes as part of the new tax law, and it gives a deduction of 20 percent for certain passthrough income earned from businesses operated as a sole...
  • Why getting a big tax refund isn't always a good thing

    A fat check from the IRS this year likely means that you overpaid on taxes last year. Here's what you need to know.