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      September 24, 2018

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Tax Relief in Maine

Maine MapStatistics regarding personal finances in Maine with respect to taxes tend to put the state in the top quarter of nationwide rankings. For example, Maine’s top rate of 7.95% for state income tax ranks 9th highest among states with an individual income tax. Its average collection of $1070 in state and local taxes per resident places Maine in 14th highest place among all fifty states.

Similarly, Maine has the 11th highest average amount of collected property tax, with a rate of approximately $1,808 per capita.

However, Maine’s average federal tax per resident of $7,660 is the second lowest in the nation, more than $4,000 less than the national average. This is in spite of Maine having the 15th highest median household income in the United States, with a typical household earning $50,121 in a year. The state has seen an overall decline in that median household income at a rate of 7.7%.

Some Mainers find themselves in trouble as they look at their weekly income and struggle to afford basic necessities like food, rent, utilities, and gas for transportation to work and school; there is often nothing left over to set aside in a saving account for future tax bills. Tax relief strategies are gaining popularity in Maine as individual residents struggle to meet their tax obligations in light of unemployment, medical bills, and other financial difficulties.

Tax relief companies offer clients the ability to avoid the stress of knowing they owe money to the IRS or to state collection agencies, and the possibility of having their assets seized or their wages garnished. Experts in tax relief are able to employ a number of tools in their clients’ behalf, such as offers in compromise, traditional installment agreements, negotiation of penalty abatement, and tax return amendment and review.

 

New tax law prompting flood of accelerated divorces as Dec. 31 deadline looms

Local attorneys and judges are scrambling to finalize a flood of accelerated divorces prompted by new federal tax laws that eliminate the spousal support deduction starting Jan. 1. Beating the Dec. 31 ...

Published:  Mon, 24 Sep 2018 05:04:00 GMT



New tax law to benefit low-income Mainers, avoid complications for companies

A law enacted Tuesday to conform Maine's tax code to the federal code includes new benefits for the state's lowest wage earners. Passage of the law was prompted by Republican-led changes to the federa...

Published:  Wed, 12 Sep 2018 17:08:00 GMT



York residents hit by double whammy of tax hikes

YORK, Maine - When taxpayers received their bills last month, almost everyone in town got a double jolt. Not only did the tax rate go up 20 cents per $1,000 of valuation, but three quarters of ...

Published:  Wed, 19 Sep 2018 13:29:00 GMT



Hallowell officials say big budgeting error likely won't affect taxes

The memo also said Rudy contacted the Maine Municipal Association "to confirm that this was a viable and legal approach to resolving the issue prior to the commitment being made and tax bills being is...

Published:  Sun, 16 Sep 2018 11:22:00 GMT



GOP Millionaire Declines to Release Tax Returns

PORTLAND, Maine (AP) - A self-made Republican millionaire running for Maine governor is declining to release his tax returns over concern of revealing financial information about his employee-owned co...

Published:  Sat, 22 Sep 2018 12:15:00 GMT



Comment: Call me a whinging snowflake, but I'm paying more taxes and yet our public services remain pathetic

I'M NOW paying 3pc more tax than in 2008 but I haven't seen a 3pc increase in public services in that time. Taxes seem to be poured into some Revenue black hole. The net pay of single-income earners o...

Published:  Sun, 23 Sep 2018 23:25:06 GMT



'Tax people like me,' says manager of U.S. Debt Clock-as debt soars to $127,000 per household

Trump and his Republican bootlickers have been working overtime to derail Special Counsel Robert Mueller's investigation.... Add your name: Postpone Kavanaugh nomination proceedings until 2019 With Su...

Published:  Mon, 17 Sep 2018 13:36:00 GMT



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