Month: April 2017

When you see just as many ads for tax preparers as car dealers, you know it must be that time again. One of life’s two certainties, taxes are required contributions levied by the government. Income tax is the single biggest revenue source for the U.S. federal government and was first used to fund the Civil War. Today’s system has its basis in 1913’s Sixteenth Amendment to the Constitution. All but seven states also impose an income tax on salaries, interest, royalties, unemployment compensation, dividends, and more. For perspective, Kentucky’s 2014 tax revenue per capita was $2,516, […]