#taxes

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#social-security

Only 1 in 3 Americans Have a Plan to Reduce This Massive Retirement Expense

Minimizing taxes in retirement requires advance planning to avoid larger-than-expected tax burdens.

What Social Security Could Look Like Under a Trump Presidency for Baby Boomers Ready to Retire

Trump's presidency may introduce significant changes to Social Security taxation and benefits, impacting retirees and investors amidst current market shifts.

The Surprising Reason You Might End Up With Less Social Security

Social Security benefits can be taxed, affecting many seniors.
Tax thresholds for Social Security have not changed in decades.
Proposals to eliminate taxes on Social Security face feasibility issues.

My wife and I receive $37,000 per year from Social Security and no other income - who exactly will we be taxed?

Understanding how Social Security benefits are taxed is crucial for retirees to optimize their tax liabilities and financial planning.

Only 1 in 3 Americans Have a Plan to Reduce This Massive Retirement Expense

Minimizing taxes in retirement requires advance planning to avoid larger-than-expected tax burdens.

What Social Security Could Look Like Under a Trump Presidency for Baby Boomers Ready to Retire

Trump's presidency may introduce significant changes to Social Security taxation and benefits, impacting retirees and investors amidst current market shifts.

The Surprising Reason You Might End Up With Less Social Security

Social Security benefits can be taxed, affecting many seniors.
Tax thresholds for Social Security have not changed in decades.
Proposals to eliminate taxes on Social Security face feasibility issues.

My wife and I receive $37,000 per year from Social Security and no other income - who exactly will we be taxed?

Understanding how Social Security benefits are taxed is crucial for retirees to optimize their tax liabilities and financial planning.
moresocial-security

Mega Millions Jackpot Hits Staggering $670 Million-Here Are the Wildly Pricey Mansions a Winner Could Snap Up

The Mega Millions jackpot reaches $670 million, but winners face significant tax implications that reduce the actual winnings substantially.
#kathy-hochul

Exclusive | Trump slams Hochul move to revive NYC congestion tax: 'It will hurt workers, families, and businesses'

Trump opposes Hochul's congestion pricing plan, calling it a regressive tax that will harm struggling New Yorkers and deter business growth.

Michael Goodwin: Gov. Hochul's $500 'inflation refund' plan is just fool's gold for votes

Kathy Hochul's proposed $500 inflation refund is criticized as inadequate relief for New Yorkers facing high living costs and increasing taxes.

Exclusive | Trump slams Hochul move to revive NYC congestion tax: 'It will hurt workers, families, and businesses'

Trump opposes Hochul's congestion pricing plan, calling it a regressive tax that will harm struggling New Yorkers and deter business growth.

Michael Goodwin: Gov. Hochul's $500 'inflation refund' plan is just fool's gold for votes

Kathy Hochul's proposed $500 inflation refund is criticized as inadequate relief for New Yorkers facing high living costs and increasing taxes.
morekathy-hochul
#irs-regulations

Do you get paid through Venmo, CashApp, or PayPal in 2024? The IRS will know

Payment platforms will report transactions to the IRS, changing tax obligations for many.
For 2024-2025, the reportable amount is $5,000, dropping to $600 in 2026.

Tax Implications When Using Synthetic Positions

Understanding tax implications of synthetic positions is essential for optimizing returns and compliance.

Do you get paid through Venmo, CashApp, or PayPal in 2024? The IRS will know

Payment platforms will report transactions to the IRS, changing tax obligations for many.
For 2024-2025, the reportable amount is $5,000, dropping to $600 in 2026.

Tax Implications When Using Synthetic Positions

Understanding tax implications of synthetic positions is essential for optimizing returns and compliance.
moreirs-regulations
#economic-policy

Trump has promised lower taxes. These are 3 ways it could impact you

Trump's tax cut promises may benefit some households but could significantly increase national debt.
Impacts of 2017 tax cuts are more favorable for high earners than middle-class families.

Readers left divided over Labour's tractor tax' on inherited farms

The Independent is committed to providing accessible, unbiased journalism that informs and engages the public on critical issues.

The Observer view: a bold budget that's the right response to years of neglect

The first Labour budget in 14 years addresses higher taxes and borrowing for public services amid economic challenges.

Rachel Reeves admits autumn Budget likely to hit pay for workers

The Labour government's tax increase on employers may adversely affect workers' wage growth, according to Chancellor Rachel Reeves.

CNBC's Joe Kernen Pounces on Guest Over Tax Hikes Before Even Introducing Her: Just Answer That!'

Joe Kernen believes economic agendas from both parties typically harm the economy by misunderstanding taxation's impact on corporations and job creation.

Trump has promised lower taxes. These are 3 ways it could impact you

Trump's tax cut promises may benefit some households but could significantly increase national debt.
Impacts of 2017 tax cuts are more favorable for high earners than middle-class families.

Readers left divided over Labour's tractor tax' on inherited farms

The Independent is committed to providing accessible, unbiased journalism that informs and engages the public on critical issues.

The Observer view: a bold budget that's the right response to years of neglect

The first Labour budget in 14 years addresses higher taxes and borrowing for public services amid economic challenges.

Rachel Reeves admits autumn Budget likely to hit pay for workers

The Labour government's tax increase on employers may adversely affect workers' wage growth, according to Chancellor Rachel Reeves.

CNBC's Joe Kernen Pounces on Guest Over Tax Hikes Before Even Introducing Her: Just Answer That!'

Joe Kernen believes economic agendas from both parties typically harm the economy by misunderstanding taxation's impact on corporations and job creation.
moreeconomic-policy

Countries With the Highest Taxes: Where Does the US Rank?

Tax perceptions impact public sentiment about tax burdens more than actual rates or amounts.
#retirement

This City Ranked No. 1 in the U.S. for Retirement for Its Tax-friendliness, Health Care Facilities, and Pristine Weather

Orlando ranks as the best retirement destination in Florida due to its recreational activities, healthcare services, and favorable tax environment.

This East Coast State Was Just Named the Best Place to Retire for Affordability, Weather, and Quality of Health Care

Delaware is ranked as the best state for retirement due to its tax benefits, diversity, and overall well-being for seniors.

8 Best Places to Retire in Nevada

Nevada is a top retirement destination due to no state income tax and low property tax rates.

This City Ranked No. 1 in the U.S. for Retirement for Its Tax-friendliness, Health Care Facilities, and Pristine Weather

Orlando ranks as the best retirement destination in Florida due to its recreational activities, healthcare services, and favorable tax environment.

This East Coast State Was Just Named the Best Place to Retire for Affordability, Weather, and Quality of Health Care

Delaware is ranked as the best state for retirement due to its tax benefits, diversity, and overall well-being for seniors.

8 Best Places to Retire in Nevada

Nevada is a top retirement destination due to no state income tax and low property tax rates.
moreretirement
#lawsuit

Barbara Lynch Is Shutting Her Restaurants, But Not Before the City Sues for Nearly $1.7M in Unpaid Taxes

Barbara Lynch is facing a lawsuit for over $1.6 million in unpaid taxes as she shuts down her Boston restaurants.

Austin confronts legal challenge to 10-mile light-rail plan - Austin Monitor

City Council and the Austin Transit Partnership are pushing back against a lawsuit aiming to terminate the 10-mile light-rail network project in Austin.
The plaintiffs argue that the city lost its authority to collect taxes for the project when the plans changed after the 2020 election.

Barbara Lynch Is Shutting Her Restaurants, But Not Before the City Sues for Nearly $1.7M in Unpaid Taxes

Barbara Lynch is facing a lawsuit for over $1.6 million in unpaid taxes as she shuts down her Boston restaurants.

Austin confronts legal challenge to 10-mile light-rail plan - Austin Monitor

City Council and the Austin Transit Partnership are pushing back against a lawsuit aiming to terminate the 10-mile light-rail network project in Austin.
The plaintiffs argue that the city lost its authority to collect taxes for the project when the plans changed after the 2020 election.
morelawsuit
#local-government

After scrapping homeless tax vote, Miami Beach is getting a $10M bill from Miami-Dade

Miami Beach faces a $10 million demand from Miami-Dade County for homeless services after rescinding a restaurant tax referendum.
Tensions rise between Miami Dade County and Miami Beach over homeless service funding after a recently rescinded referendum.

Police in London face eye-watering cuts', Met chief Mark Rowley says - UK politics live

The government is facing scrutiny over its budget, particularly regarding tax increases and spending measures impacting various sectors.

After scrapping homeless tax vote, Miami Beach is getting a $10M bill from Miami-Dade

Miami Beach faces a $10 million demand from Miami-Dade County for homeless services after rescinding a restaurant tax referendum.
Tensions rise between Miami Dade County and Miami Beach over homeless service funding after a recently rescinded referendum.

Police in London face eye-watering cuts', Met chief Mark Rowley says - UK politics live

The government is facing scrutiny over its budget, particularly regarding tax increases and spending measures impacting various sectors.
morelocal-government
#investment-strategies

These Are the Biggest Downsides of Being Worth Millions

Millionaire status provides financial freedom but requires careful management and expert guidance to navigate complexities in taxes and investments.

I'm 55 with $2.5 million in Apple stock that I bought 30 years ago and now it's all capital gains - can I use these funds for the first 5 years of my retirement?

Capital gains taxes pose significant challenges for retirees, particularly in managing Modified Adjusted Gross Income.

These Are the Biggest Downsides of Being Worth Millions

Millionaire status provides financial freedom but requires careful management and expert guidance to navigate complexities in taxes and investments.

I'm 55 with $2.5 million in Apple stock that I bought 30 years ago and now it's all capital gains - can I use these funds for the first 5 years of my retirement?

Capital gains taxes pose significant challenges for retirees, particularly in managing Modified Adjusted Gross Income.
moreinvestment-strategies
#entrepreneurship

Mark Cuban says billionaires show why America is special - and it's patriotic to get obscenely rich then pay big taxes

Billionaires exemplify the American Dream, representing boundless opportunities for wealth creation and societal contribution.

4 tax strategies for remaining financially stable as a content creator

Influencers must understand tax implications and navigate them to maximize their earnings.
Tracking expenses and leveraging tax credits are vital for creators' financial health.

Mark Cuban says billionaires show why America is special - and it's patriotic to get obscenely rich then pay big taxes

Billionaires exemplify the American Dream, representing boundless opportunities for wealth creation and societal contribution.

4 tax strategies for remaining financially stable as a content creator

Influencers must understand tax implications and navigate them to maximize their earnings.
Tracking expenses and leveraging tax credits are vital for creators' financial health.
moreentrepreneurship
#ballot-measures

With ballot prop results taking shape, how much will they cost California?

California ballot measures can have long-term fiscal impacts, resulting in higher taxes for future taxpayers.

Election 2024: All you need to know about Berkeley's 12 ballot measures

Berkeley voters will decide on 12 local ballot measures addressing taxes and ordinance changes affecting various community sectors this November.

Is California Headed For Another Tax Revolt? | KQED

Potential tax fight brewing in California amid ballot measures and legal battles.
Bill reintroduced in California for striking workers to qualify for unemployment benefits.

With ballot prop results taking shape, how much will they cost California?

California ballot measures can have long-term fiscal impacts, resulting in higher taxes for future taxpayers.

Election 2024: All you need to know about Berkeley's 12 ballot measures

Berkeley voters will decide on 12 local ballot measures addressing taxes and ordinance changes affecting various community sectors this November.

Is California Headed For Another Tax Revolt? | KQED

Potential tax fight brewing in California amid ballot measures and legal battles.
Bill reintroduced in California for striking workers to qualify for unemployment benefits.
moreballot-measures
#expat-life

I'm an American who's lived in South Korea for 10 years. Here are 9 things I don't miss about the US.

Living in South Korea has made me appreciate included taxes and non-compulsory tipping.

I moved from the US to Australia. My employer contributes over 11% to my retirement, and I don't pay property taxes.

Chelsey Nelson feels financially better off in Australia despite paying higher taxes.

I'm an American who's lived in South Korea for 10 years. Here are 9 things I don't miss about the US.

Living in South Korea has made me appreciate included taxes and non-compulsory tipping.

I moved from the US to Australia. My employer contributes over 11% to my retirement, and I don't pay property taxes.

Chelsey Nelson feels financially better off in Australia despite paying higher taxes.
moreexpat-life
#immigration

Taxes, tariffs and more: 5 key economic stakes of the US election

The U.S. election's outcome heavily influences economic policies like taxes, trade, and immigration, impacting consumer prices and borrowing costs.

Why Republicans Don't Want to Solve the Border Problem

Republicans are more willing to deal on taxes than on immigration due to the different nature of these issues in terms of political capital.
Republicans use immigration as a wedge issue against Democrats to win elections, while taxes are a policy goal they consider vital.

Mazi Pilip, Tom Suozzi stump on final day of early voting in race to replace George Santos in Congress

Tom Suozzi criticized his opponent, Mazi Pilip, during a rally, calling him 'George Santos 2.0'.
Republican Nassau County Executive Bruce Blakeman praised Mazi Pilip's record and criticized Suozzi's tax increases and immigration policies.

Taxes, tariffs and more: 5 key economic stakes of the US election

The U.S. election's outcome heavily influences economic policies like taxes, trade, and immigration, impacting consumer prices and borrowing costs.

Why Republicans Don't Want to Solve the Border Problem

Republicans are more willing to deal on taxes than on immigration due to the different nature of these issues in terms of political capital.
Republicans use immigration as a wedge issue against Democrats to win elections, while taxes are a policy goal they consider vital.

Mazi Pilip, Tom Suozzi stump on final day of early voting in race to replace George Santos in Congress

Tom Suozzi criticized his opponent, Mazi Pilip, during a rally, calling him 'George Santos 2.0'.
Republican Nassau County Executive Bruce Blakeman praised Mazi Pilip's record and criticized Suozzi's tax increases and immigration policies.
moreimmigration
#investment

Here's a final breakdown of how both presidential candidates might affect your finances

The financial future of consumers hinges on the differing policies of Harris and Trump regarding taxes, tariffs, and housing.

Shares in UK gambling firms fall 3bn amid talk of higher taxes in budget

British gambling companies' stock valued dropped over £3bn due to potential tax increases, with significant market reactions noted amongst major operators.
The UK government may raise taxes on the gambling sector to address a £22bn budget deficit.

What is Labour's 28bn green plan and could it be shelved?

Labour's proposed green prosperity plan would commit 28bn a year to kickstart the UK's transition to a low-carbon economy.
The plan includes boosting renewable energy, insulating homes, improving transport infrastructure, fostering low-carbon industries, and helping fossil fuel-reliant industries transition to net zero.
The 28bn figure has been criticized by the Tories, who claim it would require higher taxes, but economists argue that it can be funded without raising taxes and seen as an investment.

Here's a final breakdown of how both presidential candidates might affect your finances

The financial future of consumers hinges on the differing policies of Harris and Trump regarding taxes, tariffs, and housing.

Shares in UK gambling firms fall 3bn amid talk of higher taxes in budget

British gambling companies' stock valued dropped over £3bn due to potential tax increases, with significant market reactions noted amongst major operators.
The UK government may raise taxes on the gambling sector to address a £22bn budget deficit.

What is Labour's 28bn green plan and could it be shelved?

Labour's proposed green prosperity plan would commit 28bn a year to kickstart the UK's transition to a low-carbon economy.
The plan includes boosting renewable energy, insulating homes, improving transport infrastructure, fostering low-carbon industries, and helping fossil fuel-reliant industries transition to net zero.
The 28bn figure has been criticized by the Tories, who claim it would require higher taxes, but economists argue that it can be funded without raising taxes and seen as an investment.
moreinvestment
#apple

Apple Must Pay $14.4 Billion to Ireland in Crackdown On 'Sweetheart Deals'

Apple has been ordered to pay €13 billion in unpaid taxes to Ireland after being found to have benefited from illegal state aid.

Apple told to pay back 13bn in tax by EU

The European Court of Justice mandates Apple to repay €13 billion in taxes to Ireland, affirming past EU Commission decisions regarding illegal tax advantages.

EU court orders Apple to pay $14.4 billion in back taxes to Ireland

Apple must pay $14.4 billion in back taxes after losing an appeal on a 2016 ruling regarding unfair state aid from Ireland.

Apple's Quarterly Profit Down Because of Tax Payment in Europe

Apple's quarterly revenue rose significantly but was impacted by a major tax payment, leading to profit declines.

Spending of Apple's billions to be key election battleground

Ireland will access over €14bn from an escrow fund for capital projects after resolving international claims related to Apple's taxes.
The funds in the escrow are expected to be utilized within six months, aligning with upcoming political discussions around the general election.

Apple Must Pay $14.4 Billion to Ireland in Crackdown On 'Sweetheart Deals'

Apple has been ordered to pay €13 billion in unpaid taxes to Ireland after being found to have benefited from illegal state aid.

Apple told to pay back 13bn in tax by EU

The European Court of Justice mandates Apple to repay €13 billion in taxes to Ireland, affirming past EU Commission decisions regarding illegal tax advantages.

EU court orders Apple to pay $14.4 billion in back taxes to Ireland

Apple must pay $14.4 billion in back taxes after losing an appeal on a 2016 ruling regarding unfair state aid from Ireland.

Apple's Quarterly Profit Down Because of Tax Payment in Europe

Apple's quarterly revenue rose significantly but was impacted by a major tax payment, leading to profit declines.

Spending of Apple's billions to be key election battleground

Ireland will access over €14bn from an escrow fund for capital projects after resolving international claims related to Apple's taxes.
The funds in the escrow are expected to be utilized within six months, aligning with upcoming political discussions around the general election.
moreapple
#labour-party

Rachel Reeves goes back to the future with a tax and spend budget

Reeves' budget increases public spending significantly without direct tax burdens on ordinary voters.

Labour minister claims Budget will be most honest' in years

Labour's upcoming Budget aims for honesty, addressing previous fiscal inconsistencies.

Labour could raise employee national insurance at the Autumn Budget - London Business News | Londonlovesbusiness.com

The government may increase national insurance for employers, contradicting Labour's manifesto pledge that vowed not to raise taxes.

Rachel Reeves goes back to the future with a tax and spend budget

Reeves' budget increases public spending significantly without direct tax burdens on ordinary voters.

Labour minister claims Budget will be most honest' in years

Labour's upcoming Budget aims for honesty, addressing previous fiscal inconsistencies.

Labour could raise employee national insurance at the Autumn Budget - London Business News | Londonlovesbusiness.com

The government may increase national insurance for employers, contradicting Labour's manifesto pledge that vowed not to raise taxes.
morelabour-party

Former Moody's General Counsel Gets Prison Time For Tax Evasion

Paying taxes is a serious obligation that can lead to severe legal consequences if not met.

Report: Fine-Dining Restaurant Mourad Owes Over $100K in Back Taxes

Mourad restaurant faces closure due to over $100,000 in tax liabilities and a lawsuit from the city of San Francisco.

Potential Tax Changes on the Horizon You Should Be Aware Of - San Francisco Bay Times

Upcoming elections may hinge on future U.S. tax policies, particularly capital gains tax and estate planning measures.
#kamala-harris

The Harris and Trump debate showdown focused on these key economic policies

The debate showcased a fierce clash between Trump and Harris focusing primarily on economic issues and their contrasting policies.

The only campaign proposal that Kamala Harris and Donald Trump agree on

Kamala Harris and Donald Trump both propose eliminating taxes on service industry tips, igniting a political spat centered around the authenticity of their intentions.

The Harris and Trump debate showdown focused on these key economic policies

The debate showcased a fierce clash between Trump and Harris focusing primarily on economic issues and their contrasting policies.

The only campaign proposal that Kamala Harris and Donald Trump agree on

Kamala Harris and Donald Trump both propose eliminating taxes on service industry tips, igniting a political spat centered around the authenticity of their intentions.
morekamala-harris
#cost-of-living

Saving Money Is Nearly Impossible In This US City

Cost of housing is a significant factor affecting Americans' ability to save. California has the most challenging cities for saving.

Labour 'shameful' for not scrapping banker bonus cap - SNP

Stephen Flynn criticizes the PM for being out of touch with public opinion.
The SNP claims the end of the cap on bankers' bonuses is due to 'broken Brexit Britain'.

Zurich vs Geneva: What's considered a good salary for foreign workers?

Geneva is generally more expensive than Zurich in terms of housing and health insurance costs.

Saving Money Is Nearly Impossible In This US City

Cost of housing is a significant factor affecting Americans' ability to save. California has the most challenging cities for saving.

Labour 'shameful' for not scrapping banker bonus cap - SNP

Stephen Flynn criticizes the PM for being out of touch with public opinion.
The SNP claims the end of the cap on bankers' bonuses is due to 'broken Brexit Britain'.

Zurich vs Geneva: What's considered a good salary for foreign workers?

Geneva is generally more expensive than Zurich in terms of housing and health insurance costs.
morecost-of-living

Patriots defensive lineman discussed the Mass. 'millionaires tax' following Bill Belichick's comments

Athletes express concern about taxes and their effective allocation in Massachusetts, advocating for transparency and voter engagement in political processes.
#oregon

Oregon may pay out $1 billion kicker in 2026 as tax revenues come in higher than expected

Oregonians will likely receive larger refunds in 2026 due to exceeding tax revenue projections.

Oregon task force focus for Legislature: beer and wine taxes, plus alcohol addiction

Rep. Tawna Sanchez, a proponent of alcohol taxes, is chairing a state task force studying the public health impacts of alcohol abuse.
The task force is examining alcohol addiction in Oregon, the cost to the state, and funding for addiction prevention and treatment.

Oregon may pay out $1 billion kicker in 2026 as tax revenues come in higher than expected

Oregonians will likely receive larger refunds in 2026 due to exceeding tax revenue projections.

Oregon task force focus for Legislature: beer and wine taxes, plus alcohol addiction

Rep. Tawna Sanchez, a proponent of alcohol taxes, is chairing a state task force studying the public health impacts of alcohol abuse.
The task force is examining alcohol addiction in Oregon, the cost to the state, and funding for addiction prevention and treatment.
moreoregon

How would banning taxes on tips actually work?

Trump and Harris both support ending taxes on tipping, but economists warn of potential abuse without proper regulations.
#legislation

Harris and Trump's pitch to businesses: Give workers a raise without increasing your payroll

The bipartisan proposal to eliminate taxes on tips promises significant financial benefits for employees and employers alike.

Storm-driven tax delays worsened California's deficit. Newsom wants control over deadlines

California seeks more control over tax deadlines to manage budget deficits.

Harris and Trump's pitch to businesses: Give workers a raise without increasing your payroll

The bipartisan proposal to eliminate taxes on tips promises significant financial benefits for employees and employers alike.

Storm-driven tax delays worsened California's deficit. Newsom wants control over deadlines

California seeks more control over tax deadlines to manage budget deficits.
morelegislation

Here's Why This Jar of Weed Costs $60 at a Legal N.Y.C. Dispensary

Legal cannabis businesses face steep taxes and competition from unregulated markets, complicating their financial viability.

Step inside the richest city in Arizona, where wealthy Californians are flocking for private mountainside estates

Wealthy Californians are relocating to Paradise Valley for its spacious estates and favorable tax policies.

What a "no taxes on tips" policy could mean for U.S. tipping culture

A no-tax-on-tips policy could significantly change tipping culture by creating incentives for both workers and businesses.

No more fiscal favours? Calls to tax super-rich gain traction around world

Calls for higher taxes on the super-rich are gaining traction globally.
#economic-agenda

From Tips to TikTok, Trump Discards Policies With Aim to Please Voters

Former President Trump proposed an economic agenda eliminating taxes on tips, despite his previous actions that conflicted with such promises.

Biden's 2025 budget plan includes tax increases for corporations and the wealthy

Biden accuses GOP of favoring pharmaceutical companies
Biden to send budget to Congress with populist economic agenda

From Tips to TikTok, Trump Discards Policies With Aim to Please Voters

Former President Trump proposed an economic agenda eliminating taxes on tips, despite his previous actions that conflicted with such promises.

Biden's 2025 budget plan includes tax increases for corporations and the wealthy

Biden accuses GOP of favoring pharmaceutical companies
Biden to send budget to Congress with populist economic agenda
moreeconomic-agenda

Undocumented immigrants in US pay nearly $100 billion in taxes

Undocumented immigrants pay almost $100 billion in taxes, contributing significantly to the country's tax revenue.
#migrant-crisis

No tax increases as Hochul set to unveil $233B budget proposal

Gov. Kathy Hochul is releasing a $233 billion executive budget that includes $2 billion for the migrant crisis.
The budget proposal will not increase personal income or business taxes, but will rely on revenue forecasts and reductions in Medicaid.

NYC to get $2.4B for migrant crisis in Hochul's record-breaking state budget

Governor Hochul unveiled a $233 billion budget for the next fiscal year, including $500 million for NYC's migrant crisis.
The budget includes funding for various initiatives, such as retail theft prevention, flood resiliency, and campaign financing.
No tax increases are proposed.

New state budget bites NYC: On the hook for migrants, schools

Gov. Kathy Hochul's rollback adds $4 billion to state pension liabilities, increasing concerns about high spending and burden-shifting.

No tax increases as Hochul set to unveil $233B budget proposal

Gov. Kathy Hochul is releasing a $233 billion executive budget that includes $2 billion for the migrant crisis.
The budget proposal will not increase personal income or business taxes, but will rely on revenue forecasts and reductions in Medicaid.

NYC to get $2.4B for migrant crisis in Hochul's record-breaking state budget

Governor Hochul unveiled a $233 billion budget for the next fiscal year, including $500 million for NYC's migrant crisis.
The budget includes funding for various initiatives, such as retail theft prevention, flood resiliency, and campaign financing.
No tax increases are proposed.

New state budget bites NYC: On the hook for migrants, schools

Gov. Kathy Hochul's rollback adds $4 billion to state pension liabilities, increasing concerns about high spending and burden-shifting.
moremigrant-crisis
#budget-deficit

Voters say California's budget deficit is an 'extremely serious' problem, poll finds

Half of California registered voters consider the state budget deficit an 'extremely serious' problem. 57% believe the state is headed in the wrong direction.
The state budget relies heavily on capital gains taxes paid by California's highest earners, making state revenues prone to volatility in the stock market.

Business - French government plans unemployment reform, refuses new taxes

French Prime Minister Gabriel Attal plans to tighten unemployment benefits to address a large budget deficit.
The French government rejects calls for new taxes, including on corporate windfalls and share buybacks.

Voters say California's budget deficit is an 'extremely serious' problem, poll finds

Half of California registered voters consider the state budget deficit an 'extremely serious' problem. 57% believe the state is headed in the wrong direction.
The state budget relies heavily on capital gains taxes paid by California's highest earners, making state revenues prone to volatility in the stock market.

Business - French government plans unemployment reform, refuses new taxes

French Prime Minister Gabriel Attal plans to tighten unemployment benefits to address a large budget deficit.
The French government rejects calls for new taxes, including on corporate windfalls and share buybacks.
morebudget-deficit
#irs

Can AI Help You Do Your Taxes?

Tax companies are using AI tools to simplify tax filing processes by automating tasks, identifying tax breaks, and minimizing compliance risks.
Taxpayers should not solely rely on AI tools for tax filing due to inaccuracies, but AI is predicted to significantly impact the tax industry in the future.

Can I file my taxes for free through the IRS? Here's how the new Direct File program works

The IRS is launching a new, free way to file taxes called the Direct File pilot program.
The program is currently limited and requires an invitation to participate, but it is expected to be more widely available in mid-March.

IRS gives taxpayers in disaster-stricken San Diego County two extra months to file returns

Taxpayers in San Diego County have an extended deadline until June 17 to file returns and pay taxes due to recent winter storms.
Relief extended to other California localities affected by storms if added to the disaster area.

Can AI Help You Do Your Taxes?

Tax companies are using AI tools to simplify tax filing processes by automating tasks, identifying tax breaks, and minimizing compliance risks.
Taxpayers should not solely rely on AI tools for tax filing due to inaccuracies, but AI is predicted to significantly impact the tax industry in the future.

Can I file my taxes for free through the IRS? Here's how the new Direct File program works

The IRS is launching a new, free way to file taxes called the Direct File pilot program.
The program is currently limited and requires an invitation to participate, but it is expected to be more widely available in mid-March.

IRS gives taxpayers in disaster-stricken San Diego County two extra months to file returns

Taxpayers in San Diego County have an extended deadline until June 17 to file returns and pay taxes due to recent winter storms.
Relief extended to other California localities affected by storms if added to the disaster area.
moreirs

Joe Biden proves he's a hypocrite as money keeps pouring in

President Joe Biden criticized millionaires for not paying their fair share but minimized his taxes when making millions.
Special Counsel's report reveals Biden's financial motives, including sharing classified information for profit.

Sorry, City Hall: Migrant flood is zero consolation as residents flee

Residents are leaving NYC due to high crime and taxes, being replaced by illegal migrants.
New York City's population is maintained by migrants, while taxpaying residents are leaving.

Jeremy Hunt mirrors Labour policy by axing non-dom tax rules

Non-dom rules axed in the UK, moving towards a residency-based tax system from April 2025.
Transitional arrangements in place for current non-doms, encouraging them to bring wealth to the UK.
#indonesia

Indonesian Crypto Exchanges Blame Dramatic Drop in Trading Volumes Partly on High Taxes

Indonesia's crypto exchanges saw a 60% drop in transaction volume in 2023 compared to the previous year.
Local exchanges blame the drop on high taxes, including income and VAT taxes that apply to crypto as commodities.

Indonesia's Crypto Watchdog Pushes for Friendlier Taxes as Regulatory Overhaul Looms

Indonesia's crypto regulator wants tax reconsideration
Crypto may be treated as securities under OJK oversight

Indonesian Crypto Exchanges Blame Dramatic Drop in Trading Volumes Partly on High Taxes

Indonesia's crypto exchanges saw a 60% drop in transaction volume in 2023 compared to the previous year.
Local exchanges blame the drop on high taxes, including income and VAT taxes that apply to crypto as commodities.

Indonesia's Crypto Watchdog Pushes for Friendlier Taxes as Regulatory Overhaul Looms

Indonesia's crypto regulator wants tax reconsideration
Crypto may be treated as securities under OJK oversight
moreindonesia

Struggling to stop illegal cannabis stores, New York governor asks online sites to hide them

New York Governor asks online sites to hide illegal cannabis dispensaries
Legal marijuana shops in New York face challenges in competition with illegal vendors.
#california

Will Shohei Ohtani's Contract Prompt Congressional Intervention?

By deferring $68 million in salary each year, Shohei Ohtani's contract raises the possibility that he can avoid paying the bulk of his state taxes by residing outside of California once his contract expires.
California state controller Malia Cohen is calling on Congress to close any loopholes that would allow Ohtani to avoid paying his full share of state taxes on his new contract.

Pot shops owed millions in taxes. So, California sold their bongs and pipes, and made $2,075

California seized property from marijuana dispensaries to recover $14.4 million in unpaid taxes, but only made $2,075 at auction.

Will Shohei Ohtani's Contract Prompt Congressional Intervention?

By deferring $68 million in salary each year, Shohei Ohtani's contract raises the possibility that he can avoid paying the bulk of his state taxes by residing outside of California once his contract expires.
California state controller Malia Cohen is calling on Congress to close any loopholes that would allow Ohtani to avoid paying his full share of state taxes on his new contract.

Pot shops owed millions in taxes. So, California sold their bongs and pipes, and made $2,075

California seized property from marijuana dispensaries to recover $14.4 million in unpaid taxes, but only made $2,075 at auction.
morecalifornia

Jeff Bezos Nets $8.5 Billion From Amazon Share Sale

Jeff Bezos sold 14 million Amazon shares, totaling $2.4 billion in just nine days.
Bezos' move from Seattle to Miami may save him considerable taxes due to Washington's capital gains tax.
#hr-block

BrandStorytelling BrandVoice: Dive Into 'Responsibility Island' From H&R Block

H&R Block ventures into branded entertainment with 'Responsibility Island'.
Collaboration between H&R Block and Piro results in a strategic and entertaining tax-themed show.

H&R Block parodies Netflix's Too Hot to Handle in new responsibility-themed reality show

H&R Block has created a four-part satirical reality series to educate young consumers about finances and taxes.
The program will be available for streaming on Roku and aims to engage young tax filers through unique and entertaining content.

BrandStorytelling BrandVoice: Dive Into 'Responsibility Island' From H&R Block

H&R Block ventures into branded entertainment with 'Responsibility Island'.
Collaboration between H&R Block and Piro results in a strategic and entertaining tax-themed show.

H&R Block parodies Netflix's Too Hot to Handle in new responsibility-themed reality show

H&R Block has created a four-part satirical reality series to educate young consumers about finances and taxes.
The program will be available for streaming on Roku and aims to engage young tax filers through unique and entertaining content.
morehr-block

Last California tax deadline was just months ago. What do you have to do this year?

California's state Franchise Tax Board received 4.5 million personal tax returns during last year's extension period following catastrophic winter storms.
California provides an automatic extension to file every year, but payment is still due April 15.

When to pay the ATO: How social media complicates tax

Social media influencers may need to pay taxes on their income depending on whether their work is considered a hobby or a business.
The Australian Taxation Office (ATO) uses several factors to determine if an influencer's work is a taxable business, including the commercial purpose, intention to engage in business, purpose of profit, regularity, and repetition of the activity.

Berkeley Public Works employee charged with violently threatening boss over taxes

A Berkeley Public Works employee is facing charges for allegedly threatening his supervisor at the Berkeley Corporation Yard.
The employee, Pat Lynn Urdahl, is accused of making threats out of anger for having to pay taxes instead of receiving a refund.

Rishi Sunak: I can't keep pledge to reduce NHS waiting lists

Rishi Sunak has admitted to failing on his promise to cut NHS waiting lists, which is the first time the prime minister has acknowledged being off track on his key targets.
Sunak's pledge to get the UK economy growing again is still uncertain, but he claims that he will stop the boats once deportation flights to Rwanda start running.

Farmers protest in Brussels amid EU summit DW 02/01/2024

Farmers in Belgium have blocked roads leading to a European Union summit in Brussels using tractors as a form of protest.
The farmers are complaining about taxes, rising costs, cheap imports, rules, and bureaucracy.
#spending

Hochul's budget isn't terrible - but will she stand up to lawmakers who will want to make it so?

Gov. Hochul's budget proposal for next year does not include any new taxes.
The budget aims to keep overall spending roughly flat and slow the growth of school aid.

Labour and Tories need to be honest about economic trade-offs, says IFS

The next UK government will face tough choices regarding taxes and spending due to weak growth and high debt interest payments.
The Institute for Fiscal Studies warns that budget tax cuts risk being reversed or paid for by spending cuts.

Hochul's budget isn't terrible - but will she stand up to lawmakers who will want to make it so?

Gov. Hochul's budget proposal for next year does not include any new taxes.
The budget aims to keep overall spending roughly flat and slow the growth of school aid.

Labour and Tories need to be honest about economic trade-offs, says IFS

The next UK government will face tough choices regarding taxes and spending due to weak growth and high debt interest payments.
The Institute for Fiscal Studies warns that budget tax cuts risk being reversed or paid for by spending cuts.
morespending

Farmers in Romania, France and Germany continue road convoy protests

Agricultural workers in Romania, Germany, and France are protesting against green policies and taxes, demanding more government subsidies.
Farmers in these countries claim that they are being negatively impacted by environmental reforms and need subsidies to offset the costs.

Upscale Residents Leave LA to Escape Mansion, Other Taxes

Los Angeles is seeing an increase in wealthy residents leaving the city in search of lower taxes and more favorable conditions in other states.
The mansion tax, which took effect in April, has been a significant factor in driving wealthy residents out of Los Angeles.

Poll: 74 Percent of Millionaires in G20 Countries Support Higher Taxes on Wealth

74% of millionaires in G20 countries support higher taxes on extreme wealth to address the cost-of-living crisis and improve public services.
More than 70% of respondents believe that wealth helps buy political influence and see extreme concentrations of wealth as corrosive to democracy.

Gavin Newsom goes on defense over California Democrat's wealth tax. Why it's a political move

Governor Newsom criticized a proposal for a tax on wealthy Californians during his budget presentation.
The plan for a state tax on ultra-millionaires and billionaires was quickly shelved by state lawmakers.

Investment Property in France - what you should know - The Good Life France

Buying a property in France may not always be a good investment due to rising property taxes and other costs.
Property investments in France should be backed up with thorough financial planning to avoid common mistakes.
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