You may not be able to avoid taxes altogether, but wouldn’t it be great if there were a way to enhance your lifetime financial security that was also tax-advantaged? There is. Long-term care (LTC) planning using long-term care insurance offers some unique tax advantages. Premium deductibility Most self-employed business owners, partners and shareholders of corporate entities benefit from being able […]

by Scott Anglemyer Kansas Center for Economic Growth Economists don’t agree on much. As George Bernard Shaw said, “If all the economists were laid end-to-end, they’d never reach a conclusion.” One of the few things that most economists agree on, however, is that the Earned Income Tax Credit is an example of smart policy. The EITC is a common-sense tax […]

You’re not alone if your heart pounds when you see a letter from the Internal Revenue Service (IRS) in your mailbox. While some lucky filers get sent a letter because they’re due a larger refund, most of us fear the worst: an audit. Those fears may be largely unfounded for the average household. Only about 1 percent of taxpayers get […]

Come mid-April, late-filing taxpayers across the country are looking for ways to lower their tax bills or increase their tax refunds. Perhaps the most effective way to do just that is to take advantage of the numerous potential tax deductions available. Though tax laws change each year and it’s always best to consult with a tax professional before making a […]

It’s hard to believe, but tax season is once again upon us. Many of you have probably already received forms in the mail or electronically and have started working on your tax returns. As the filing season gears up, we mark this week, Jan. 30 through Feb. 3, as “Tax Identity Theft Awareness Week.” Tax identity theft occurs when a […]

Marion County law enforcement officials are urging people to be careful of possible tax scams in the area. The most recent series of calls involve individuals posing as IRS officials demanding immediate payment for alleged delinquent taxes, said Marion County Sheriff Robert Craft. ?I strongly encourage any?one who receives a phone call from someone claiming to be from the IRS, […]

Open letter to: Rep. John Barker State Capitol, Topeka Marion County stands in strong opposition to the tax lid enacted during the 2015 session. This legislation was never presented as a bill during the regular session, and never received a public hearing. The concept was added as a floor amendment to the tax bill in the final days of the […]

Kansas collected $8.2 million more than expected in individual income tax receipts for January?$18.7 million more than what was collected during the same month in 2014. Corporate income and sales tax receipts fell below expectations by $8.2 million and $3.9 million, respectively, pulling the monthly total in Kansas Department of Revenue Tax Collections to $6.8 million less than estimates. ?We […]

Starting today, consumers will be paying for more retail goods and taxable services when they purchase them in the state of Kansas. As part of the budget package approved by the Legislature in June, the portion of sales tax going to the state of Kansas has increased from 6.15 percent to 6.50?or 35 cents more for every $100 purchase. The […]

Whether you plan to file for an extension on your taxes this year, or will wait until the last minute to complete paperwork, or want a better strategy for the future, chances are you could be doing a better job throughout the year to save on income taxes, according to seasoned investment adviser Paul Taylor, a member of the National […]