Before you file your taxes, you first need to gather all the information you need to to prepare your return. What sort of information? Well, it’s mostly a bunch of forms that your bank, brokerage firm...
Tag: Tax
Tax rules concerning NFTs- The Cryptonomist
The correct framing of the taxation of NFTs is a real problem, primarily because there are generally no laws or regulations defining NFTs and even less so are there tax rules expressly dedicated to th...
Gotcha! How One Simple Tax Question Could Catch out Crypto Holders
It’s a simple yes or no answer: “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?” And it’s considered “a gotcha questi...
More States Join Income Tax Cut Movement
The South Carolina State House getty Income tax cutting bills continue to sweep through state legislatures in 2022. What’s noteworthy is that they’re doing so in many cases with broad support from bot...
9,000 Permits, Windfall Profits Tax, Keystone XL, And Russian Oil
HOUSTON, TX – JULY 3: The Russian supertanker Astro Lupus waits to unload its cargo of the first … [+] direct shipment of Russian crude oil to the United States 03 July 2002 in the Gulf of...
Investors Sue Vanguard After Target Date Funds’ Big Tax Bill
Three investors are suing Vanguard Group for alleged negligence and breach of fiduciary duty, saying that changes the company made to target date retirement funds resulted in “massive tax bills” for i...
India Crypto Players Ask Government to Rethink 1% Tax
India’s cryptocurrency players have called on the government to rethink its planned 1% tax deducted at source (TDS) on all crypto transactions gains ahead of the passage of the Finance Bill by Parliam...
India Taxman Lines-Up Crypto Tax Dodgers in His Sights
The taxman in India is on the hunt for around 700 high-net-worth individuals who have appeared on his radar. If caught, they face being slapped with 30% tax, a penalty, and interest charges. “We have ...
You can ‘Buy’ Citizenship for Crypto Tax Breaks
St. Kitts and Nevis: Crypto holders can now use ‘electronic gold’ to get a passport to a tax haven. And you don’t even have to live there to get the passport. Here’s how. Saint Kitts and Nevis is an i...
Singapore Says Its New Tax Rules Also Apply To NFT Transactions
Singapore Finance Minister Lawrence Wong announced that the country’s income tax rule also extends to income from all forms of non-fungible token (NFT) transactions. It means that those trading in NFT...
Singapore Finance Minister Announces NFT Tax
Singaporean Finance Minister Lawrence Wong announced taxes on transactions involving non-fungible tokens on March 11, 2023, which will be based on the nature and use case of the specific NFT. The tax ...
Crypto Weekly Roundup: Stripe Reinstates Crypto Services, Thailand Lowers Tax, Pro-Crypto President In S.Korea, FCA Warns Crypto ATMs, And More
Cryptocurrency continues to play a significant role in the Ukraine-Russia conflict, as Ukraine bought military gear worth $15 million from the donated cryptocurrency. Singapore has also taken the side...
Singapore to Tax Income Generated From NFT Transactions
Singapore’s income tax treatment will be determined based on the nature and use of the NFT. Taxing NFTs According to the latest report by The Business Times, Singapore Finance Minister Lawrence Wong w...
Democrats File New Tax On Alleged ‘Windfall Profits’ By Big Oil
WASHINGTON, DC – APRIL 28: Sen. Sheldon Whitehouse, D-R.I., attends the Senate Judiciary Committee … [+] confirmation hearing in Dirksen Senate Office Building in Washington, D.C., on Wedn...
Singapore to Charge Income Tax on NFT Trading, says FM Lawrence Wong
In Asia, Singapore extends taxes imposing on Non-Fungible Token (NFT) transactions, according to local media CNA. Speaking to the parliamentary reply on Friday, Singapore Finance Minister Lawrence Won...
Singapore’s Tax Policies Will Affect NFTs; Here’s How ⋆ ZyCrypto
Advertisement     Key Takeaways Singapore introduces income tax for NFTs. Lawrence Wong, Singapore’s finance minister, added that NFTs will not attract capital gains t...
IRS discusses crypto tax rates for US merchants
TL;DR Breakdown • Tax office claims that cryptos are virtual currencies affected by the inspection rules.• IRS will charge from 0 to 37 percent in taxes for crypto operations. Recently the internal re...
Capital Gains and Dividend Tax Rates for 2021-2022
Investors with taxable accounts—as opposed to tax-favored retirement accounts such as individual retirement accounts or 401(k)s—are often eligible for lower tax rates and other benefits. When an inves...
Thailand Approves Tax Relief Measures for Crypto Trading – Coinotizia
The Thai Cabinet has approved tax relief measures for crypto trading. The new tax rules are “much more friendly to both investors and industry,” said an executive of a cryptocurrency exchange in Thail...
Thailand Approves Tax Relief Measures for Crypto Trading – Taxes Bitcoin News
The Thai Cabinet has approved tax relief measures for crypto trading. The new tax rules are “much more friendly to both investors and industry,” said an executive of a cryptocurrency exchange in Thail...
Thailand Eases Crypto Tax Rules
Thailand crypto charge regulations facilitated from past piece Crypto brokers get a 7% expense exclusion by utilizing government supported trades Tax reductions will likewise be given to long haul fin...
Singapore To Charge Income Tax On NFTs, Says Minister
Current income tax rules in Singapore will apply to transactions involving non-fungible tokens (NFTs), Finance Minister Lawrence Wong reportedly said on Friday. But their application will depend on th...
Do You Have to Pay a Long-Term Care Tax?
Long-Term Care Tax Since long-term care insurance is expensive, only 7% to 10% of Americans have a long-term care policy. According to the Department of Health and Human Services, more than 50% of us ...
Democrats Target Oil Companies With Plan to Tax Windfall Profits
(Bloomberg) — Senators Sheldon Whitehouse and Elizabeth Warren say they’re working on a proposed new tax targeting profits being reaped by oil companies as crude prices spike amid geopolitical t...
Thailand Set To Become Crypto Paradise After Relaxing Crypto Tax Burden For Investors ⋆ ZyCrypto
Advertisement     Minutes of Thailand’s finance cabinet meeting were released. The government plans tax relief and exemptions for the crypto industry. It hopes that t...
2021-2022 Federal Income Tax Brackets and Rates
The top tax rate is 37%. For 2026, the top rate is set to return to 39.6%. Photo: Illustration: Tammy Lian The tax code currently has seven income-tax brackets for individuals that range from 10% to 3...
Colorado Governor Polis Sees Only Upside in Being First To Accept Crypto for Tax Payments
HodlX Guest Post Submit Your Post According to reports, the state of Colorado will become the first state to accept cryptocurrency for tax payments after Governor Polis signed the Digital Token Act...
Tax Preparation: 10 Myths To Avoid
Tax-preparation season is underway. As you prepare your 2021 return and various forms and schedules, be sure to avoid buying into common tax myths that can cost you big money. X Tax myths typically ha...
Planning to retire? Don’t get hit with a surprise tax bill for this common mistake
How much of your salary is withheld from your paycheck affects what you receive, or owe, at tax time – with the wrong number selected, you could be in for quite a surprise. Retirement Tip of the Week...