Money Matters - Simplified


Obama Proposes Buffet Rule To Replace Alternative Tax

Obama’s recent budget plan has raised perpetual arguments on his efforts for reducing tax load on middle-class by introducing ‘Buffet rule’ for wealthy Americans.

Prove Your Innocence, Get Income Tax Relief

Two-year rule for equitable relief is scrapped. Read on to know what it means and how it benefits you: the innocent spouse.

Most Commonly Ignored Tax Deductions

Our complex tax code often makes us hand over our hard earned money as taxes when in fact we were eligible for a deduction.

Business Assistance Act of 2009: Builders Get Treated, Tax Payers Pick up the Tab

The new bill makes provision for builders suffering losses in 2008 and 2009 to claim refunds from the tax paid in the previous five years.

Hiring a Tax Agent

One of the things you loathe is sitting down and sorting out your taxes. You are happier having someone tell you ‘this is the amount of tax you will have to pay for this year’ and paying it out, rather than sitting down and going through the painful process of calculating the tax due.

How Banks Can Exploit Geithner's Plan

I want Treasury Secretary Tim Geithner's plan to save the banks to work. I want banks to jettison all the crap on their balance sheets and allow taxpayers to profit. Everyone does. It'd be the ultimate victory during an economic collapse where nothing has gone right

Help! I Can't Afford to Pay My Taxes!

You finally get down to the bottom line of your tax return, and the balance due to Uncle Sam is much more than you expected. In fact, it's more than you can afford to pay. You've dug through the couch cushions and checked all your pants pockets, but all you got was $26.55 and a lot of lint.

Poll: Canadians split on auto bailout

Toronto -- A poll of Canadian taxpayers suggests more than half oppose government aid to foundering automakers they claim brought on their own problems.

The Strategic Counsel online survey of 1,500 Canadians for CTV News and the Globe and Mail found 46 percent supported federal loans, while 54 percent opposed it.

The poll was done March 13-16, before Chrysler Canada threatened to pull out of Canada altogether if it didn't receive $2.3 billion and have a tax dispute resolved.

The poll asked about such a scenario before that happened, and 61 percent of respondents said they wouldn't back a bail-out in the face of threats, CTV said.

Tim Woolstencroft, managing partner with The Strategic Counsel, told the broadcaster the poll results indicate criticism of the chief executive officers and management of General Motors, Ford and Chrysler.

Taxpayer watchdog hands out golden pigs

Ottawa -- Vancouver's Olympic Village, the Canadian auto industry and a giant inflatable banana were among the winners Wednesday of gold pigs.

The Canadian Taxpayers Federation announced the 11th annual Teddies Waste Awards at a ceremony in Ottawa, the Canadian Broadcasting Corp. reported. The awards honor Teddie Weatherill, a civil servant fired for imaginative spending.

The group gave the auto industry a lifetime achievement award for its history of receiving government grants and loans.

Awards were given for each level of government, local, provincial and federal. Vancouver got the municipal prize for what Kevin Gaudet, the federation's executive director, called "waste of Olympic proportions" on the Olympic Village.

The Manitoba Child and Family Services agency received the provincial honor for providing spa days for employees, complete with pedicures and facials.

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