Author Archive | Borbala Banto, CPA

I, Robot (?)

For decades now, governments across the world have struggled with where to impose taxes to raise the revenue they need to offer modern services. Should they simply raise rates? Should they broaden the base by eliminating loopholes and deductions? Should they sock it to smokers, drinkers, or other disfavored groups? How about entirely new levies […]

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Photograph 070 by Ashley Schweitzer found on <a href="//"></a>

No Extra Credit Here

Paying your taxes is one of those responsibilities that most of us accept when the time comes. Sure, we grumble about it. But we pay, then get on with the day. We don’t expect to get brownie points just for doing our duty. In fact, if you give yourself too much credit for doing it, […]

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Yogi Berra on Taxes

Last month, one of the most truly American lives came to an end at age 90. Baseball legend Lawrence “Yogi” Berra was a superstar both on and off the field. As a player, he won 10 World Series rings and made the All-Star team 18 times in 19 seasons. He was American League MVP five […]

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Share a Coke with the IRS

Coca Cola has earned a lot of headlines for their “Share a Coke with . . . ” marketing campaign, printing bottles and cans with 1,000 of the most popular names in the country, along with nicknames like “Mom,” “Dad,” Soulmate,” and “BFF.” You can even go online to customize your own bottle for just […]

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Alibaba and the Forty Percent

Turn on the financial news and you’ll hear all sorts of explanations for the stock market’s ups and downs. Oh no, the Fed’s going to raise rates! Oh no, they’re not! Who knows what the real answer is? But last week, the IRS moved the market — when they casually signaled they wouldn’t be greenlighting […]

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Vive le Tax!

This year, as usual, millions of American tourists took advantage of summer vacation to travel abroad. Favorable exchange rates made European destinations especially attractive. Seeing Old World cultures gives us perspective that we just can’t get when we load up the family truckster and head for Disney World. The sights, the sounds, and the great […]

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Cadillac Taxes for Everyone!

Employers have played a key role in financing their employees’ healthcare since World War II, when they threw in tax-free benefits to attract talent in a time of wage controls. So it’s no surprise that when Congress passed the Affordable Care Act, they gave employers all sorts of carrots and sticks to boost coverage. But […]

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Ready or Not, Here We Come!

Campaign 2016 is here! Last Thursday, 10 Republican presidential candidates squared off against each other in Cleveland’s Quicken Loans Arena, tackling such crucial topics as hugs, pimps, and Rosie O’Donnell. That same day, the Democratic National Committee announced their schedule of six debates to begin on October 13 in early-primary state Nevada. Sooner rather than […]

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A Tax Odyssey

On July 23, NASA announced the discovery of Kepler-452b, the first potentially Earth-like planet within the “habitable zone” of a star like our Sun. Kepler-452b is 1,400 light-years away, meaning the New Horizons space probe that just passed Pluto should get there in another 26 million years. (Mom, are we there yet?) It’s 60% bigger […]

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Toxic Deductible Sludge

Back in 2010, British Petroleum’s Deepwater Horizon drilling rig exploded and spilled millions of barrels of oil off the Louisiana coast. Countless small business owners, including fishermen, hotel operators, restaurants, rental companies, and seafood processors, suffered and went bankrupt. State and local governments lost billions more in tax revenue. Lawyers, who may be some of […]

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