2015 Tax Brackets

IRS Income Tax Season 2015 begins today.

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Every year, the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep.” This is the phenomenon by which people are pushed into higher income tax brackets or have reduced value from credits or deductions due to inflation instead […]

The Tax Changes in President Obama’s Fiscal Year 2015 Budget

The Tax Changes in President Obama’s Fiscal Year 2015 Budget

President Obama released his fiscal year 2015 budget yesterday. Overall, the president proposes to increase revenue by $1.759 trillion over ten years. This new revenue comes in the form of a couple large tax changes, numerous small tax changes, and new fees (which we don’t discuss in this post).

This analysis is a general […]