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Three-Fourths of New 2016 Investment Was Excluded from Improved Cost Recovery

Recent IRS data gives us insights into new capital expenditures made by both individuals and corporations in 2016. In total, the IRS estimates that individuals reported $347.1 billion in capital expenditures and corporations reported nearly $1 trillion of assets placed into service. An important takeaway from this data is that it sheds light on what […]

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Marginal Tax Rates for Pass-through Businesses by State

Pass-through businesses, such as sole proprietorships, S corporations, and partnerships, make up a majority of businesses in the United States. The owners of these firms pay individual income tax on income derived from these businesses. The marginal tax rates vary for pass-through firms depending on the state where they operate, as states tax individual income […]