Flint's Best Mix » taxes

Higher Vehicle Registration And Gas Prices In Exchange For Better Roads… Are You In?

Rod Prahin — Fri, 11 Jan 2013 10:41:24 +0000

I think we all agree that there are some things that need some fixing up in Michigan. The roads being one of them. Do you remember the saying’ no pain no gain’?Michigan needs an additional $1.4 billion a year to meet needs for bridge and road maintenance. The Gov. asked:’ what if the state increased [...]

Do USA Olympians Pay Taxes on Medals?

Stu Allen — Mon, 06 Aug 2012 21:20:26 +0000

As we enjoy the 2012 Olympic Games from London, a lot of discussion has centered around whether or not USA Olympians have to pay income taxes if they win a medal. The answer is… NO. US athletes do not pay income taxes for the medals they win. They DO pay taxes on the money they [...]

Michigan Low Income Families to Pay Higher Tax

George McIntyre — Wed, 16 May 2012 15:51:45 +0000

Thank you, Governor Snyder. A report issued Monday says Michigan’s low-income, working families will pay more state income tax next year. Michigan’s reduction of the earned-income tax credit will mean about $244 million more in state income taxes. Who will be affected? About 800,000 Michigan families claim the credit, mostly lower-income working families. Is this [...]

Tax Day Freebies You Can Take Advantage Of

Erin Bishop — Mon, 09 Apr 2012 17:00:04 +0000

Tax day is right around the corner and there are plenty of retailers who will be offering free stuff at the stores on this day. If you've been meaning to shred those old receipts, Office Depot will shred up to five pounds of paper and make 25 copies for free on tax day.

Is Cheating on Your Taxes Okay?

J. Patrick — Fri, 03 Feb 2012 12:20:00 +0000

It is getting to be that time of year. Tax day is right around the corner — but that doesn’t mean we’ll all pay our fair share. We would all like to pay a little less and the "fudging" of tax number could make that happen. Would you, or do you, do that?

An IRS survey last year found the percentage of people who thought it was acceptable to cheat “as much as possible” on their returns doubled compared to 2010.

MC Hammer Reportedly Owes $700,000 in Unpaid Taxes

Scott Shetler — Tue, 13 Dec 2011 16:00:53 +0000

MC Hammer‘s money woes just will not go away. TMZ says the U.S. government is suing the ‘U Can’t Touch This’ rapper and his wife for $779,585 in back taxes. The taxes are reportedly from 1996 and 1997, a time when Hammer was famously struggling with debt. TMZ adds that the government could attempt to [...]

Study: Some US Companies Pay No Taxes

Ryan Reynolds — Thu, 03 Nov 2011 21:41:50 +0000

Check your tax return from last year. If you paid taxes, you may have paid more, percentage-wise, than some of this country’s largest corporations. More details after the jump. The report, published today in CNNMoney, says many compaies paid between 17-30 percent, and some paid more, but some other corporations paid nothing, while others actually “owed [...]

Buffett: Billionaire's Tax Rate: 17.4%

J. Patrick — Sat, 15 Oct 2011 13:27:38 +0000

Billionaire Warren Buffett has revealed how much money he made last year....and how much he paid in taxes. After making more than $66 million, he paid under $7 million in taxes....a tax rate of 17.4%.

In a New York Times opinion piece this summer, Buffett claimed the tax rate was too low compared to middle-income wage earners. Buffett is the worlds third richest person, with a net worth of $39 billion .

Water Rate Increase For Flint Residents

Erin Bishop — Wed, 17 Aug 2011 18:04:07 +0000

Flint residents aren't happy with the decision to raise water rates after September 16, according to The Flint Journal. Water and sewer rates are expected to see a 35% increase so a bill that's $82.49 a month will jump to $111.36. This will affect city of Flint customers according to the finance director.

Amazon Fighting Online Sales Tax

George McIntyre — Mon, 18 Jul 2011 15:36:05 +0000

Be honest: Should online retailers have to play by the same rules, or do you like love not paying Michigan’s 6% sales tax when ordering from companies such as Amazon? Share your thoughts, and read more about the battle that’s brewing after the break. Free shipping, no sales tax. It can save you a bundle, [...]

Taxed For Every Mile You Drive; How Would you Feel About That?

Rod Prahin — Sat, 07 May 2011 15:17:59 +0000

The Obama administration has floated a transportation authorization bill that would require the study and implementation of a plan to tax automobile drivers based on how many miles they drive.

I have been driving an average of about 25,000 per year for the last 15 years, I say no way. I have no clue as to how much the tax would be, I just know it would be a little to costly. Read more of the story after the jump.

What Would You Do With 300 Million Bucks?

Stu Allen — Wed, 23 Mar 2011 19:44:05 +0000

The Mega Millions jackpot for this Friday night is just over 300 million dollars.What would you do with such a large windfall? After taxes, you’d be left with less than 200 million, but that’s still more buckaroos than most of us can imagine. One thing is for sure, once word got out that you had [...]

Taxes, Taxes, And More Taxes!

J. Patrick — Fri, 10 Dec 2010 14:13:50 +0000

City of Flint residents need to brace for an onslaught of possible taxes to help the city overcome all the red ink. The $25 million deficit means that Flint probably can’t cut enough to get out of debt and that new taxes will be required. The average cost for homeowners for water and sewer will [...]