When the news of an implementation of a 1.2% tax burn on LUNC on-chain transactions broke, the concept of the tax proposal to reduce the massive supply of LUNC sparked a rally in the token. The tax pr...
Tag: Tax
‘My elderly relative determined she could no longer care for herself’: Are her assisted-living facility costs tax deductible?
I have an elderly relative in an assisted-living arrangement in Indiana. She was basically directed to go there from a rehabilitation post-surgery, because they determined that she could no longer car...
Bankruptcy filing reveals China was FTX’s largest client after island tax havens
A bankruptcy filing by the now-collapsed cryptocurrency exchange FTX revealed the platform’s global customer distribution at the peak of its operations. According to the documents, Cayman Island acco...
Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax – Regulation Bitcoin News
According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill ...
Here’s how to score a charitable tax break on ‘Giving Tuesday’
Ariel Skelley | Getty Images You must ‘itemize’ to claim the charitable deduction When filing your return, you reduce your taxable income by subtracting the greater of either the standard ...
Will Congress Restore The Tax Incentive For Research Spending?
A researcher works on a vaccin against the new coronavirus COVID-19 at the Copenhagen’s University … [+] research lab in Copenhagen, Denmark, on March 23, 2020. – At Copenhagen unive...
Tax Changes Boost Retirement Contribution Limits For 401(k)s, IRAs In 2023
High inflation in 2022 has increased income limits and contribution amounts for IRAs and 401(k)s as … [+] well as other retirement plans in 2022 (Photo Illustration by Scott Olson/Getty Images) ...
Unknown Wallets Burn 35M Terra Classic In 24 Hours, 125M By 0.2% Tax burn
– Advertisement – Terra Classic (LUNC) burns continue to surge. @LunaBurnTracker, a Twitter handle that tracks all Terra Classic burns, revealed the number of LUNC incinerated yesterday. A...
Kenya Crypto Tax Set at 20% Rate on Par With Bank Commissions
Authorities in Kenya have announced that they will tax cryptocurrencies like they tax bank transactions. The Kenya Revenue Authority (KRA) has taken a step forward in taxing cryptocurrencies. The coun...
Ukraine regulator drafting crypto tax rules – crypto.news
The resounding calls for crypto regulations have led to creating a special council under Ukraine’s securities (NSSMC). The new council is set to coordinate and draft crypto taxation regulations accord...
Exxon Mobil, Chevron, ConocoPhillips Slapped With Shareholder Resolutions Over Secretive Tax Practices
Oxfam filed shareholder resolutions against oil giants Exxon Mobil Corp (NYSE: XOM), Chevron Corporation (NYSE: CVX), and ConocoPhillips (NYSE: COP), alleging a lack of transparency over their global ...
Here’s the One-Word Secret to Lowering the Tax Hit on your IRA RMDs
Everybody hates being told what to do, and retirement investors hate it even more when being told what to do comes with a hefty tax bill – which brings us to the IRS rule known as required minimum wit...
7 Wash Sale Facts To Know Before Selling Stock For Tax Loss Harvesting
Watch out for wash sales of stock, which can mess up your tax planning. getty Are you bullish about the stock markets in 2023? If so, you may be looking at year-end strategies to prepare for brighter ...
New Kenyan law seeks to introduce income tax for cryptocurrency traders
Kenya is the latest country to show intent to regulate the cryptocurrency sector targeting the taxation of digital currency transactions as the industry expands. If parliament approves The Capital Ma...
Biden to End Trump’s Tax Cuts for The Wealthy
biden capital gains tax changes House Democrats have proposed legislation that could end Trump tax cuts for the wealthy and corporations. If passed, this could implement some of the biggest tax increa...
Say Goodbye to Proprietary Tax Prep Software
The average American pays $294 to file their taxes each year. These fees equate to roughly $11.3 billion per year in revenue for tax prep companies. In the crypto world, the costs of tax filing can be...
Spain Promotes New ‘Up-To-70%’ Tax Incentive For Foreign And National Productions
View of the backdrop for the World premiere of HBO original drama series “House of the Dragon” at … [+] the Academy Museum of Motion Pictures in Los Angeles, July 27, 2022. (Photo by...
FTX Bankruptcy leads to tax confusions.
On Friday, the crypto exchange FTX along with Alameda Research and its 130 associates filed for Chapter 11 bankruptcy. Soon after the company filed for chapter 11 bankruptcy, the chief executive...
Challenges of Accounting and Tax Requirements in Crypto for Institutions
Participating in decentralized finance (DeFi) protocols can make tax accounting even more complex. For example, if an institution is providing liquidity on a decentralized exchange (DEX), it also need...
What are the Crypto Tax Implications for Investors From the FTX Collapse?
What about a personal casualty loss deduction? Personal casualty losses have been suspended until the end of 2025, according to 2018’s Tax Cuts and Jobs Act, unless the loss is related to a federally ...
Trump Organization CFO Weisselberg chokes up on witness stand, claims his ‘personal greed’ drove $1.7 million tax-avoidance scheme
NEW YORK (AP) — Donald Trump’s longtime finance chief choked up on the witness stand Thursday, saying he betrayed the Trump family’s trust by scheming to dodge taxes on $1.7 million in company-paid pe...
3 myths about the Trump tax cuts
Donald Trump is running for president again, and voters are going to hear a lot about the 2017 tax cuts he signed into law. Trump, for one, will brag about the economic magic borne of tax cuts that su...
How to Prepare for Crypto and Other Digital Asset Tax Obligations
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the futur...
Best Crypto Tax Software In US In 2022-23
Crypto taxation has become a highly debatable topic, as paying tax for the trade you have carried out on crypto exchanges can be arduous for many. As more and more people have started investing in cry...
How to Lower Your Tax Bill With Cryptocurrency Losses
Investments that are reported on Schedule D of your tax return include stocks, bonds, crypto, collectibles and homes. So you can use losses from any of these asset classes to offset each other and get...
How to reduce your cryptocurrency tax bill before year-end
After a rough year for cryptocurrency, taxes may not be a top priority for digital currency investors battered by steep losses. But the falling crypto market and the recent collapse of digital currenc...
Home of the Corporate Tax Loophole
That trial took place in Delaware because Twitter, Inc. has its corporate registration there. So do Amazon, Google, Walmart and Meta (formerly Facebook). In fact, companies responsible for an incredib...
A Mutual Fund Tax Problem And How To Avoid It
This year, in a down market, you could wind up owing tax on putative appreciation. Here’s what to do about that. IRS agents question a mutual fund owner (Photo by Hulton Archive) Getty Images A whipsa...
Tax Implications of the Celsius Platform and Terra Protocol Failures
So, what is a person who has crypto locked inside Celsius to do? The short answer is to wait and see. Once bankruptcy proceedings are finalized, some or all of the funds owed by Celsius to its custome...
Dear Tax Guy: ‘What happens if I sell my existing house to pay off the loan on my new home? How much tax will I owe?’
Greeting, readers. I’m Andrew Keshner and I’m the tax reporter for MarketWatch. I write about the controversies, open questions and best strategies about taxes. For the purposes of this new column, th...
NFT Art Museum Donations? The Pros and Cons for Your Tax Bill
But for the donor, it’s a big deal. Probably the most important question is whether the donor can claim a tax deduction, and if so, for how much. Typically, when an art collector donates an artwork to...