Monday, May 6, 2013
A report by Pew Charitable Trusts found some areas in the Washington, DC suburbs benefit more from a controversial tax credit than any other place.
A home ownership tax credit favored by the wealthy disproportionately benefits residents of Maryland, particularly in Bowie, Bethesda, Gaithersburg and Frederick, a report from Pew Charitable Trusts found. Some members of Congress, however, are working to cut the mortgage interest deduction from the tax code. In Maryland, 37 percent of tax filers claim the deduction, while more than 40 percent of tax filers in Bethesda, Gaithersburg and Frederick claim the mortgage interest deduction, the largest percentage in the country, Bloomberg BusinessWeek reported. Nationally, only 22 percent of filers claim the deduction, Bloomberg reported. The deduction is typically filed in wealthy areas with high rates of home ownership. In Bowie, 40 percent …
Tuesday, April 2, 2013
Beyond TurboTax: Here's who can help you file your taxes before the April 15 deadline.
If you're not comfortable using TurboTax and TaxAct.com to file your taxes online, here are some local tax professionals who can help you out. But call soon for an appointment because the deadline is approaching fast. You can also find more tax service providers in the Bowie Patch Directory. Bowie Bookkeeping & Tax Services 3103 Tinder Pl., Bowie 301-262-1418 Hours: By appointment William E. Busch, CPA 12803 Belhurst Ln., Bowie 301-262-5517 Hours: By appointment Bowie Accounting & Tax Services 6422 Gwinnett Ln., Bowie 301-262-0148 Hours: By appointment John P. MacLean, CPA 15701 Alameda Dr., Bowie 301-249-4900 Hours: By appointment Kevin Williams & Associates 4000 Mitchellville Rd., Bowie 301-805-5538 Hours: By appointment …
Thursday, January 3, 2013
Sunday's home playoff games in Landover and Baltimore will bring in $2.5 million each, state comptroller Peter Franchot told The Washington Post.
While Sunday's football schedule is shaping up to be a dream day for fans of the Washington Redskins and Baltimore Ravens, it's also a financial boon for the state. The Redskins and Ravens games — each hosting Sunday's NFL wild card round playoffs — are expected to net approximately $2.5 million in taxes for Maryland, state comptroller Peter Franchot told The Washington Post . Franchot said the increase in taxes is expected to come from "sales of high-priced playoff tickets, souvenirs, and concessions as well as taxes on bonuses for players and coaches," among other places, according to the report. “When both teams are in the playoffs, there’s a synergistic impact where folks just feel better in Maryland, and when folks feel better there’s…
Thursday, February 23, 2012
Cost of housing, daycare and taxes drove the figure up more than 40 percent over 10 years.
Thursday, February 23, 2012
By Catherine Irwin Capital News Service Families with young children in Prince George's County need to make more than $50,000 a year to cover just their basic living expenses, according to a new report. That figure is up more than 40 percent over the past 10 years, driven largely by the cost of housing, daycare and taxes. While Prince George's is the wealthiest majority black county in the country, the report says families with modest incomes living well above the official poverty line are struggling to make ends meet. People are increasingly turning to the government and social service organizations for help. The monthly average of food stamp applications has increased by 53 percent since 2007, and there was an increase of about 23 …