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Income tax

Credit versus deduction — what’s the difference?

Last updated Monday, April 2, 2012 - 8:19pm

Knowing the difference between a tax credit and a tax deduction is important when filing your taxes.

A tax credit reduces the amount of income tax you may have to pay. This means that your taxable income has already been figured and the amount of tax assigned to this income is your tax liability. The only way to reduce this tax amount is with a tax credit. The reduction is a dollar-for-dollar reduction in the tax liability.

Education, Business, Schools, Children, Divorce, Higher Education, Income tax, Internal Revenue Service, IRS, Moving, Principals, Talkin' Taxes, Tax deductions, Taxes, Teachers, Tuition, Utah Read more Comments

Utah’s Lee divides Congress; more federal land debate

Charles F. Trentelman Standard-Examiner

Last updated Monday, March 5, 2012 - 10:16pm

I am sad to see Maine’s Olympia Snowe leaving the U.S. Senate.

Utah is not Maine, so normally I wouldn’t comment on Snowe, but I can’t get over the nagging thought that Snowe, a well-known moderate, is leaving because Utah’s voters elected Sen. Mike Lee two years ago.

Education, American Indians, Barack Obama, Congress, Constitution, Federal land, Federal Lands, Income tax, Mike Lee, Oil leases, Permits, Politics, President Barack Obama, President Obama, Public land, Sen. Mike Lee, Staff column, Tea Party, U.S. Constitution, U.S. Government, U.S. Senate, Utah Constitution, Utah Legislature, Wasatch Rambler Read more Comments

Utah repeals 'forever' with pie-in-the-sky federal land suit

Charles F. Trentelman Standard-Examiner

Last updated Saturday, February 25, 2012 - 5:46pm

"The people inhabiting this State do affirm and declare that they forever disclaim all right and title to the unappropriated public lands lying within the boundaries hereof..."

-- Utah Constitution, Article 3, Section 2

When Rep. Mike Noel, R-Kanab, is the voice of reason, the argument has gone off the rails. Utah suing the federal government to get Utah's federal land is one such train wreck.

Education, Constitution, Development, Drinking water, Federal Government, Federal land, Government funding, Grazing, Growth, Income tax, Infrastructure, Land development, Lawsuit, Public land, Ranchers, Ranching, Snowbasin, Staff column, Trees, U.S. Forest Service, Utah, Utah Constitution, Utah Legislature, Wasatch Rambler, Environmental concerns Read more Comments

CHARLES DHARAPAK/The Associated Press
Republican presidential candidate, former Massachusetts Gov. Mitt Romney, campaigns at Allstar Building Materials in Ormond Beach, Fla., on Sunday.

Buffett blames tax rate law

Jim Puzzanghera The Associated Press

Last updated Tuesday, January 24, 2012 - 12:26am

WASHINGTON -- Billionaire investor Warren Buffett said he doesn't blame Republican presidential candidate Mitt Romney for paying only about 15 percent of his income in taxes, saying it was misguided federal law that allowed very wealthy people who make a living "shoving around money" to pay a lower rate than average Americans.

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16 charged in massive tax refund scam

Mark Morris Kansas City Star

Last updated Friday, September 23, 2011 - 8:26am

KANSAS CITY, Mo. — Schemes to defraud the Internal Revenue Service out of millions of dollars in inflated tax refunds was alleged Thursday as authorities announced charges against 16 defendants from around the United States.

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10 tips to ease tax time for military

Press release Standard-Examiner

Last updated Friday, July 29, 2011 - 2:09pm

PHOENIX - - Military personnel have some unique duties, expenses and transitions. Some special tax benefits may apply when moving to a new base, traveling to a duty station, returning from active duty and more.

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Free income tax preparation offered

Standard-Examiner staff

Last updated Friday, April 1, 2011 - 11:20pm

OGDEN — With just two weeks remaining in tax season, Bank of Utah volunteers are still providing free income tax preparation and advice for low-income families through Ogden’s Cottages of Hope, 2724 Washington Blvd., Ogden.

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Vadim Ghirda/The Associated Press
Romanian Bratara Buzea, 63, who was imprisoned for witchcraft under communist dictator Nicolae Ceausescu's repressive regime, speaks during an interview with The Associated Press in Mogosoaia, Romania, Wednesday, Jan. 5, 2011. Trouble is brewing for Romania's witches, whose toil is being taxed for the first time despite their threats of putting curses on the government. Also being taxed for the first time are fortune tellers, who probably saw this coming.

Curses! Romania's witches forced to pay income tax

Alison Mutler, The Associated Press

Last updated Wednesday, January 5, 2011 - 7:06pm

MOGOSOIA, Romania -- Everyone curses the tax man, but Romanian witches angry about having to pay up for the first time are planning to use cat excrement and dead dogs to cast spells on the president and government.

Also among Romania's newest taxpayers are fortune tellers -- but they probably should have seen it coming.

Superstitions are no laughing matter in Romania -- the land of the medieval ruler who inspired the "Dracula" tale -- and have been part of its culture for centuries. President Traian Basescu and his aides have been known to wear purple on certain days, supposedly to ward off evil.

Romanian witches from the east and west will head to the southern plains and the Danube River on Thursday to threaten the government with spells and spirits because of the tax law, which came into effect Jan. 1.

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