April 15, 2013
At some Baltimore-area tax preparation offices, deadline day was proving anticlimactic. The big rush had come not on Tax Day but in early February, said Vince Williams, manager of Liberty Tax on East Coldspring Lane. The deadline for both federal and Maryland income taxes is Monday. "It's been a weird tax season," Williams said Monday morning. "Everyone started late because of the fiscal cliff. " Because of the last-minute tax deal to avert the fiscal cliff, the Internal Revenue Service was delayed in releasing some tax forms.
March 11, 2013
Here's a quiz for all current and future college students and their families: Which of the following has risen in price the most sharply over the last several decades - tuition, health care, the consumer price index or textbooks? For the correct answer, please consult the back of your texts. Since 1978, the cost of college textbooks has risen 812 percent, according to the American Enterprise Institute. Few necessities can match that kind of price explosion. In 2011, the cost of college texts rose 8 percent, or more than four times the rate of inflation, according to U.S. Labor Department statistics.
February 19, 2013
In his recent State of the State speech, Gov. Martin O'Malley said, "Our story, Maryland's story, is the story of better choices and better results. " This is certainly the kind of high rhetorical flourish we have come to expect from state leaders during legislative session time in Annapolis. Mr. O'Malley's rosy rhetoric reminded me of another former governor who harbored presidential ambitions: Ronald Reagan, who once said, "Facts are stubborn things. " In assessing the economic health of our state, I'm inclined to focus on the facts.
January 28, 2013
A project to renovate a building in the Warfield Cultural and Commerce Center, in Sykesville, has been awarded $246,619 in state tax credits in Maryland's Sustainable Communities Tax Credit program. This week Gov. Martin O'Malley announced that five projects statewide, including Warfield, will receive the credits in a program that officials said would help create some 500 construction jobs. State officials said that in all, the five projects received a total of $6,992,341 in tax credits to leverage construction projects with a total cost of $31,836,476.
January 3, 2013
While increased tax rates may not be sending Maryland citizens elsewhere, as letter writer Neil L. Bergsman recently noted ("Tax rates don't send people out of state," Dec. 30), mainly because of natural inertia not to change location, the tax schedule does not invite people from out of state to decide to become Maryland residents. More importantly to the future economy of Maryland, the ever-increasing tax burdens present no incentive for industry or organizations to relocate here. Certainly, additional revenues are always needed, but at the same time attention must be paid to the long-term consequences and the impact on the future of Maryland's economy.
October 15, 2012
Under the Maryland Dream Act, students who want to attend our community colleges or public universities at the in-state tuition rate must have attended a Maryland high school for at least three years. They must prove that their families filed state income tax returns during that time, and they or their families must file returns each year that the student attends college. Because the Dream Act was written for illegal immigrants, you might be wondering how this can be. Since when do such people pay income taxes?