Taxing Parents Equitably

October 19, 2017

Many working parents — particularly those with pre-school aged children — struggle with the high costs of childcare, which can exceed rent and college tuition in some states. Currently, the Internal Revenue Code (the “Code”) contains an alphabet soup of tax benefits that parents with dependent children may claim. Working poor parents may receive substantial…

Tax Reform for the Gig Economy?

October 17, 2017

Several weeks ago, President Trump and his “Big Six” tax group rolled out a summary of their proposals for tax reform. Among other reform measures, the plan calls for an increased standard deduction, elimination of many itemized deductions, a switch from seven tax brackets to three tax brackets for individuals, a reduced corporate tax rate…