I am a California resident. My husband and I own a 1,800-square-foot home that we bought in 2019 for $1.5 million. We have between 40% and 50% equity in the property due to a large down payment. We li...
Tag: Tax
Indian Crypto Exchanges Met With Finance Ministry Officials to Seek Tax Reconsideration
“Uncertainty surrounding cryptocurrency regulations, limited knowledge of the capital market and a desire to maximize profits drove exchanges to innovate unnecessarily, to the point where complexity b...
How a Tax Law Designed to Help Struggling Communities Is Benefiting Crypto Traders
A tax law that was implemented in 2017 as a means of helping poor communities is allegedly being taken advantage of by crypto miners and investors. Crypto Investors Are Using a Tax Law to Their Advant...
UK, first seizure of NFT for tax fraud
The first NFT seizure in history has probably taken place in the UK by HM Revenue and Customs, the UK’s tax collection agency. The fraud that led to the NFT seizure According to the BBC reports, The ...
Education Department won’t seize tax refunds for overdue student loans
Miguel Cardona, U.S. Education Secretary, at the Queen Theatre on Dec. 23, 2020 in Wilmington, Delaware. Joshua Roberts | Getty Images News | Getty Images The U.S. Department of Education has suspende...
U.K. tax officials seem to believe they seized their first-ever NFTs
HM Revenue and Customs (HMRC), the U.K.’s tax department, seized three NFTs as part of an investigation into potential tax fraud. And while regulators celebrated the move as it was the first time U.K....
UK’s HMRC Makes the First NFT Seizure in Tax Evasion Scandal
The United Kingdom’s tax authority, Her Majesty’s Revenue and Customs (HMRC) have arrested three suspected tax evaders and seized three Non-Fungible Tokens (NFTs), a confiscation that marks the very f...
UK’s HMRC seizes NFTs for first time in tax fraud probe
A CryptoPunk NFT on display at Sotheby’s on June 4, 2021 in New York City. Cindy Ord | Getty Images LONDON — Britain’s tax watchdog has seized three non-fungible tokens, in what is thought...
Spain has modified its tax model to declare overseas crypto holdings
Crypto tax has become a vital concern for investors globally. As the adoption of digital assets have surged all major nations are either prohibiting the use of these digital currencies or asking the i...
Tax Strategies for Your Retirement Income
When you retire, your income usually flows from three possible sources: Social Security benefits, distributions from individual retirement accounts (IRAs) and retirement plans, and funds from savings ...
Spain Modifies Tax Model 720, Used to Declare Cryptocurrency Holdings Abroad – Regulation Bitcoin News
The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification, ...
There’s A Pink Tax On Women
Sticker shock at the cash register. getty OK, it’s not a tax, per se. But markups are everywhere on stuff catering to women consumers. We asked Diane Bourdo, president of The Humphreys Group in San Fr...
Electric Vehicles Will Need New Taxation Or Governments Will Lose Billions
Governments all over the world rely on the income from vehicle tax and a percentage from the fuel vehicles use. But with EVs, that fuel revenue is gone. This is causing great concern everywhere that E...
Crypto Tax Pros Throw Cold Water on Staking Excitement
“For my clients, I’m going to tell them that they should continue to declare [staking rewards] as ordinary income, it should be viewed as if it’s interest,” Foreman told CoinDesk. “That way, they don’...
The Tax Advantages of Series I Savings Bonds
At first glance, a stodgy, government-guaranteed investment may not seem like the most thrilling investment idea. But for many investors that’s exactly what U.S. Treasury Series “I” savings bonds are ...
Democrats Propose Gas Tax Holiday
Against a background of surging gasoline prices at the beginning of an election year, a group of Democratic lawmakers are calling for a suspension of the federal gas tax for the rest of 2022. The Gas ...
IRS Reveals Guidelines On How Crypto Investors Can Report Their Purchases On Tax Forms ⋆ ZyCrypto
Advertisement     The IRS releases guides on how to report taxes using form 1040. People who purchased crypto with real currency and have been hodling are exempted. Cr...
Kazakhstan President Orders Government to Find All Miners and Raise Tax by April – Mining Bitcoin News
President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not aga...
Puerto Rican Treasury Department Aims to Tax NFT Sales – News Bitcoin News
The Treasury Department of Puerto Rico has published a working document that amends the current “Sales and Usage Tax” to include NFT sales. While this proposal has yet to be approved, experts believe ...
Why did WazirX token (WRX) jump 30% after India announced its big crypto tax?
Finance Minister Nirmala Sitharaman said that the government will tax digital currency earnings at 30%. This tax is applied to an array of cryptocurrencies that fall under what the government deems as...
Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining – Mining Bitcoin News
Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fi...