IN THIS EDITION
FOCUS: Local analyst urges portfolio review on proposed tax changes
COMMENTARY, Brack: Bad idea to ban books and manufacture outrage
IN THE SPOTLIGHT: SCIWAY
NEWS BRIEFS: New bio highlights story of Reconstruction-era Senate leader
FEEDBACK: Guns promoted too loudly
MYSTERY PHOTO: Peeking through the treetops
CALENDAR: Keb’ Mo’ returns Tuesday
Staff reports | State and federal individual income taxes are due today, a month after the regular deadline thanks to the pandemic. But what do you do if you can’t afford to pay right now? The S.C. Department of Revenue (SCDOR) says there are options:
First, the IRS advises, don’t panic. Both the IRS and the SCDOR offer payment plans that may be available to you.
Second, here’s what the agencies say not to do:
* Do not delay filing your return on time. Filing your return on time will reduce the amount of penalty and interest you will owe, which is added based on the amount of tax not paid by the due date (which is May 17 this year).
* Do not believe paying installments to the SCDOR and the IRS is your only choice. Weigh your options. …
Commentary by Andy Brack, editor and publisher | After more than 850 weekly columns totaling more than 600,000 words over 17 years, I’m like the Farmers Insurance guy – I’ve seen a thing or two.
And I’ve learned a thing or two about how politics, policy and governance works – and doesn’t – in the Palmetto State. Now with elections around the corner, maybe it’s time to share some of the bigger lessons.
IN THIS ISSUE of Charleston Currents #10.47
FOCUS: Paddlers surround Crab Bank sanctuary
COMMENTARY, Brack: Lessons from 17 years of offering S.C. commentaries
IN THE SPOTLIGHT: Charleston Gaillard Center
PALMETTO POEM, Rutledge: On the Fourth Day
FEEDBACK: Send us your comments … share your thoughts
MYSTERY PHOTO: Might be easy, but might not
S.C. ENCYCLOPEDIA: Santee National Wildlife Refuge
CALENDAR: Sign up to host a Lowcountry On the Table gathering
By Kyra Morris, contributing editor | Taxes matter. Whether we agree the Tax Cuts and Jobs Act passed on Dec. 22, 2017, is good for the middle class, good for the wealthier taxpayer or simply good for the debt structure of America, it is here. It is happening now and it is different.
As you prepare for 2018 tax season, here are some highlights you should know:
Tax Rate: The top individual tax rate dropped from 39.6 percent to 37 percent. It will take more taxable dollars to get to the highest bracket.
A single filer has to have over $500,000 taxable income in 2018 to reach the 37 percent.
A filer who is married, filing jointly, must have over $600,000. Roughly, a 2 percent decrease in taxes on $600,000 is a $12,000 savings.
We Can Do Better, South Carolina! (2019) by editor and publisher Andy Brack offers incisive commentaries on the American South, politics, the common good and interesting South Carolina leaders. Available exclusively for Kindle for $7.99. A paperback version will be ready soon. Learn more.
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