These 7 favorite tax breaks are on the chopping block

first_imgby: Dan CaplingerDespite their well-known tendencies to procrastinate, American taxpayers always like to have at least some sense of what they’re likely to owe on their tax returns. Unfortunately, the government doesn’t always provide those answers in a timely fashion, and this year, they’re going down to the wire in deciding the fate of seven of the favorite tax breaks that Americans want to use in order to reduce the amount they have to pay to the IRS next April.Several popular tax provisions expired at the end of last year, making their fate for the current 2014 tax year uncertain. The measures are largely ones that require renewal every year, with lawmakers choosing to extend their availability for only a single year at a time to avoid bearing the full long-term budgetary cost of the provisions at any one time. With the midterm elections having made it hard to make forward progress on legislation to extend these provisions, it’s up to a potential lame-duck session of Congress to work on restoring the tax breaks — or affirmatively allowing them to go away once and for all. Let’s take a look at seven of the most popular provisions that will disappear without intervention from lawmakers.1. Deduction for State and Local Sales TaxesWhen enacted in 2004, the deduction for state and local sales taxes made the tax system fairer for those who live in states that don’t impose a state-level income tax. Under this provision, you can choose to deduct state and local sales taxes instead of income taxes, picking whichever one is more favorable to you. Moreover, you don’t have to keep track of every penny you pay in sales taxes, as the IRS allows you to use a chart that estimates the typical sales-tax expenditure for families with various levels of income. Failure to restore this provision will hurt taxpayers in Texas, Florida and several other states in which residents pay no or minimal income tax. continue reading » 2SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Sanghi – A leader in design, engineering and manufacture

first_imgSubscribe Get instant access to must-read content today!To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.Don’t just stay connected, stay at the forefront – join gasworld and become a subscriber to access all of our must-read content online from just $270.last_img

Charles Douglas Razey, 75, Wichita: July 10, 1943 – March 20, 2019

first_imgCharles RazeyCharles Razey, 75, of Wichita, died Wednesday, March 20, 2019, at the Robert Dole VA Medical Center in Wichita, after a courageous battle with cancer.Memorial Services will be held at 10 a.m., March 29, 2019, at the Shelley Family Funeral Home in Wellington. Inurnment will be at the Winfield Veterans Cemetery in Winfield. To leave an online condolence please visits Douglas Razey was born July 10, 1943, the son of Loman and Corene (Davis) Razey in Cherokee, Okla. He graduated from Wichita West High School. Charles joined the US Army in 1968 and served his country until 1970. He worked at Chance Manufacturing, Kreonite Inc. and retired from Boeing in 1995. He enjoyed spending holidays with family. The family would like to thank the VA Hospice unit at the Robert Dole VA Center for all the care they gave Charles as well as his Hospice Nurse Lynnette.Charles is survived by his brothers: Jim Razey (Betty) of Wellington and Don Razey (Nancy) of Colorado Springs, CO; and a sister, Rose Dubbs of Salina, KS; as well as many nieces, nephews, great nieces and nephews.He is preceded in death by his parents and a sister, Helen Lewis.last_img read more