taxes

St. Louis on the Air
1:27 pm
Tue December 16, 2014

CPA Answers Your End-Of-The-Year Tax Questions

Credit dleafy | sxc.hu

The most wonderful time of the year means the least favorite time of the year is approaching: Tax time.

There are some things taxpayers can do now to help alleviate individual tax burdens in April, certified public account Lance Weiss of SFW Partners LLC told “St. Louis on the Air” host Don Marsh on Tuesday.

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Benevolent tax credits
5:11 pm
Tue January 22, 2013

Bill To Revive Benevolent Tax Credits Heard By Mo. House Committee

iPad photo of Mo. House hearing on HB 87. (l-r), Scott Baker of the Mo. Food Bank Assoc., and bill sponsor, State Rep. Eric Burlison (R, Springfield).
Marshall Griffin/St. Louis Public Radio

Legislation that would revive three benevolent tax credits in Missouri is being considered by a State House committee.


Tax breaks for food pantries, pregnancy resource centers and the Children in Crisis program all expired last year when lawmakers failed to pass any type of tax credit reform package.  Scott Baker, State Director of the Missouri Food Bank Association, testified today in favor of renewing the incentives.  He says according to the USDA, Missouri has the nation’s 7th highest food insecurity rate.

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Internet sales tax
5:28 pm
Wed January 2, 2013

Report: Missouri Has Lost $2.3 Billion In Revenue By Not Collecting Taxes On Internet Sales

(via Flickr/Anderson Mancini)

It appears that Missouri has lost about $2.3 billion in revenue over the past nine years because it does not collect sales taxes on purchases made over the Internet.


A report issued by the University of Missouri’s Truman School of Public Affairs says that averages out to around $468 million a year.  House Minority Floor Leader Jacob Hummel (D, St. Louis) says collecting taxes on Internet sales could help fund several critical needs, including K-12 schools.


“I think if you look at just levels of school funding, when adjusted for inflation, we’re back at levels in the early (19)90’s," Hummel said.  "Clearly this is a way to enhance revenue.”

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St. Louis on the Air
5:31 pm
Tue December 18, 2012

Ongoing Fiscal Cliff Negotiations Impact Year-End Tax Considerations

(via Flickr/Tax Credits)

It’s said that one of the certainties in life is taxes.  However, taxes for 2012 are to some degree, uncertain because of ongoing negotiations over the so-called fiscal cliff.

Host Don Marsh talked with tax expert Lance Weiss, C.P.A., of SFW Partners, LLC about end-of-year tax preparations and what can be done to minimize the amount owed on federal and state income tax returns due in April.

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cigarette tax
4:27 pm
Fri December 7, 2012

Mo. Tax Reform Proposal Includes Another Cigarette Tax Hike, Flat Income Tax

Next month, SSM Health Care will no longer hire smokers.
Flickr/SuperFantastic

Despite being rejected by voters last month, there’s a new proposal to raise Missouri’s cigarette tax.

It’s part of a bill prefiled in the Missouri Senate that would also raise the state’s sales tax by one-half percent while fixing the state income tax rate at a flat 4 percent.  The proposal would raise the cigarette tax by 26 cents, from its current 17 cents per pack to 43 cents per pack.  It’s sponsored by Republican Senator John Lamping of St. Louis County.

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River City value
3:08 pm
Mon October 15, 2012

Pinnacle, St. Louis County Settle On Value Of River City Casino

St. Louis County and Pinnacle Entertainment, which owns the River City Casino, have reached a settlement on how much the casino in Lemay is worth.
via Wikimedia Commoms/RamblingGambler

St. Louis County and Pinnacle Entertainment have settled a dispute over how much the River City Casino in south St. Louis County has been worth for the past three years.

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Unemployment Fraud
8:11 am
Tue October 2, 2012

Illinois Cracks Down On Unemployment Fraud

(via Flickr/Tracy O)

Illinois is getting $2.7 million to strengthen its efforts to fight waste and fraud in unemployment claims.

The grant from the U.S. Labor Department will help beef up anti-fraud programs launched in the past year.
 
The Illinois Department of Employment Security says it has begun garnishing tax returns of unemployment cheats, working more closely with the attorney general and holding business leaders personally liable for misstating company obligations.

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Election 2012
3:24 pm
Tue July 10, 2012

Mo. GOP Senate candidates Akin, Brunner, Steelman made late tax payments

via Flickr/alancleaver_2000

Democratic Sen. Claire McCaskill garnered some unwanted attention last year when she paid about $320,000 in overdue taxes and penalties on an airplane. As it turns out, her three leading Republican opponents also have paid penalties for late taxes.

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Vehicle Tax
1:18 pm
Sat July 7, 2012

Gov. Nixon urged to sign Mo. vehicle sales tax

Local officials and Missouri vehicle dealers are sending emails urging Gov. Jay Nixon to sign legislation allowing communities to continue levying taxes on vehicle purchases.

But it appears to be an uphill effort because Nixon previously said the legislation would "bypass" a public vote and improperly impose a tax. Nixon has not specifically said whether he will sign or veto the bill.

Missouri revenues
10:24 am
Wed May 2, 2012

Mo. tax revenue performance improves

(via Flickr/401K)

For the first time this fiscal year, Missouri's state revenues are growing above the rate needed to balance the budget.

The state Office of Administration released figures on Wednesday that show Missouri's net revenues were up 3.1 percent through April - or the first 10 months of the fiscal year. The 2012 budget is based on 2.7 percent growth.

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