Tag: Government Budget/Taxation

When can I deduct business meal and entertainment expenses under current tax rules?

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target. If you’re confused about what rules currently apply, I don’t blame you. This column aims to eliminate confusion. That’s an optimistic goal, but here goes. A 2020 COVID-19 relief bill made taxpayer-friendly changes A taxpayer-friendly change in the CAA […]

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Opinion: How deficit spending could hand Congress to the Republicans

President Joe Biden’s $1.9 trillion American Recovery Act scored 75% public approval, and it is full of goodies for reliable Democratic constituencies—money for state budgets, union pensions, universities, and the like—often having little to do with the pandemic. Now his infrastructure package is full of spending having little to do with rebuilding America’s roads, bridges […]

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Opinion: Biden’s policies will help the working class less than he thinks

President Joe Biden offers himself as champion of the working class and minorities, but his policies will leave more jobless and enable Donald Trump or another populist from the right to win in 2024. The pandemic is accelerating changes in where we work and what we buy. That makes obsolete many storefronts, movie theaters, aircraft […]

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Opinion: Biden will regret the $1.9 trillion stimulus because it squanders the money he’ll need for other priorities

President Joe Biden’s $1.9 American Rescue Plan will certainly give the economy a jolt, but he may regret not spending the money differently. Even many Democratic economists estimate the package is larger than needed to boost aggregate demand in line with potential gross domestic product. And it provides aid to many who don’t need it—for example, stimulus checks […]

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