It’s not that unusual. Former President Donald Trump and his wife, Melania, paid $0 in income taxes for 2020, according to a report released late Tuesday by the congressional Joint Committee on Taxati...
Tag: Taxation
IRS pauses rule requiring people to report PayPal, Venmo transactions over $600. Here’s what went wrong.
To avert taxpayer confusion in the upcoming tax season, the IRS is delaying a rule that would have required e-commerce sites and payment platforms like eBay EBAY, +0.12%, Etsy ETSY, -0.32% and PayPal ...
Your Retirement Plans Will Change With the $1.7 Trillion Federal Spending Bill
Congress is poised to approve a $1.7 trillion spending bill this week that seeks to avert a government shutdown and boost the savings of Americans by making significant changes to their retirement pla...
For Landlords, Rising Housing Costs Make It Harder to Earn Passive Income
Listen to article (1 minute) Many Americans dream the path to building wealth is like a trip around the Monopoly board, buying up properties that generate rental income. That can be true, but financia...
New tax rule for eBay and Venmo will cause ‘significant confusion,’ CPAs say
As Congress concludes 2022 with a sprint to pass laws and a spending deal, tax accountants are joining a chorus of e-commerce companies and pay platforms who say a revamped tax form is about to cause ...
My mom spent $90K on bitcoin and gifts in a romance scam. Can the tax code help her?
My mom went into debt to buy bitcoin for a scammer because she thought she was in a romantic relationship with him. She also racked up credit-card debt to mail computers and gift cards to the scammer....
EU forces crypto market participants to share data for taxation
European Commission wants crypto companies and traders to report the EU citizens’ foreign and domestic transactions in a new move to tackle tax evasion. According to a proposal submitted by the Europe...
EU crypto taxation proposal will target firms all over the world
Companies offering crypto services to residents of the European Union will need to comply with tax reporting rules to close tax evasion gaps. A new proposal from the European Commission will req...
Crypto taxation talks gain traction in the EU
Crypto taxation is climbing up on the European Union’s agenda as speakers in a Brussels tax symposium highlighted the need to crack down on tax avoidance in crypto. The European Commission plans to ad...
Get Big Tax Breaks for 2022 by Acting Now
It’s time to make year-end tax moves. With inflation way up and markets way down for 2022, there’s plenty to track. As in the past, most actions for tax-year 2022 must be made before Jan. 1, 2023. The...
The news on Bitcoin taxation in Italy
They finally did: news on the taxation of Bitcoin, a number of specific tax provisions on cryptocurrencies were included in the draft budget bill approved in recent days by the Italian Council of Mini...
Kenya introduces bill on crypto taxation
Kenyan lawmakers are eyeing the regulation of crypto trading and introduction of crypto taxation among other regulatory moves, according to a report highlighting the latest crypto news from the East A...
Kenyan legislation establishes crypto taxation, creates consumer protections
An amendment was introduced to the Kenyan Capital Markets Law on Nov. 21 that would require those who own or deal in cryptocurrencies to provide the country’s Capital Markets Authority with informatio...
New Council at Ukraine’s Securities Watchdog to Draft Crypto Taxation Regulations – Taxes Bitcoin News
A special council under Ukraine’s securities regulator will be tasked to develop rules for crypto taxation in the country. The new body will be also responsible for coordinating the regulation of vari...
13 Ways to Invest in India, the World’s Fastest-Growing Major Economy
India, home to more than 1.4 billion people, has long been a country with great promise and owner-led businesses accustomed to generating large amounts of cash. But India’s rise has been fitful, and o...
Binance Has No Big Plans for India Due to High Taxation, Says CZ
Binance CEO Changpeng Zhao (CZ) has all but given up on India. Pointing out the 1% transaction tax that came into force on 1 July 2022, CZ said it makes crypto trading unviable in India. Speaking at t...
Did Bullard undershoot? Stifel economists say fed funds rate may need to go to 8% or even 9%.
A day after a Federal Reserve official’s market-moving admission that interest rates may need to go to as high as 7%, analysts came up with an even more surprising conclusion: that 7% still won’t be h...
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...
Music NFTs and Taxes: A Web3 Taxation Guide
Okay, first things first. The basics. Creating (a.k.a. minting) an NFT is not a taxable event. If you create an NFT (a 1:1 or a 10K-strong collection) and no one buys it or trades it, you will not be ...
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...
Taxation for Cryptocurrency, NFTs and Other Digital Assets Still in Its Infancy in the US
There are also industry participants who believe that digital assets should require new tax rules because of their newness, though I’d argue that every asset and transaction, no matter how new or old,...
As Pandemic Aid Dries Up, Businesses Chase Covid Tax Credit
A temporary tax break for small businesses has spawned a cottage industry of advisory firms tapping into federal pandemic aid, raising alarms at the Internal Revenue Service that some claims are going...
Bank of Russia Sets Out to Regulate Digital Asset Taxation, Exchange, Still Opposed to Crypto – Regulation Bitcoin News
The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now work...
Heavy Taxation Could Kill India’s Cryptocurrency Market, Binance CEO Warns ⋆ ZyCrypto
Advertisement     Binance CEO Changpeng Zhao mentioned India’s high crypto taxes as something that can kill the Indian cryptocurrency sector. He said this while speaki...
Market Losses Can Reduce Your Tax Bill for Years. Here’s How.
This year’s market mayhem could shave your tax bill for years to come. With just weeks to go, 2022 is poised for steep negative annual returns in both stocks and bonds, a correlated collapse that has ...
‘Voters are looking for help’: With control of Congress too early to call, here are 3 burning tax questions
A day after midterm elections, it remains uncertain whether either party will end up with Congressional control or whether it will be a divided Congress — and that has consequences for these tax quest...
‘It’s a touchy subject’: My in-laws live in our basement. They gave us our 20% down payment. Should we charge them for renovations?
Last year, my husband and I approached my in-laws to see if they wanted to live with us. We had learned that my father-in-law had terminal cancer but could still live five to seven years in remission,...
Taxation is a blunt instrument, IATA chief Willie Walsh says
The aviation industry requires more carrot and less stick going forward to become more sustainable, according to the director general of the International Air Transport Association. Speaking at CNBC&#...
Opinion: Opinion: What Bullard got wrong about a 7% fed funds (and why he said it anyway)
An influential Federal Reserve official briefly spooked the stock SPX, -0.31% and bond TMUBMUSD10Y, 3.769% markets on Thursday by warning that the central bank may have to raise interest rates much fu...