Text size An oil pumpjack Spencer Platt/Getty Images Oil stocks were poised to open lower Monday as investors reacted to the news that the Democrats’ climate change measure could cost oil companies, b...
Tag: Taxes
How the Ultra-Wealthy Save on Their Taxes
tax saving strategies for high income earners Earning a higher income can mean paying more in taxes at both the federal and state levels. You might assume that you’re stuck with a bigger tax bill beca...
Seniors, Here’s How to Avoid Taxes on Lump Sum Pension Payouts
SmartAsset: How to Avoid Taxes on Lump Sum Pension Payout When your pension matures, there are multiple distribution options that you can choose from. Unfortunately, many of these distribution methods...
Someone Won The $1.28 Billion Mega Millions Jackpot—Here’s How Much They’ll Take Home After Taxes
Topline A single winning ticket was sold in Illinois in the Mega Millions lottery drawing Friday to claim the $1.28 billion prize, the second-largest jackpot in the lottery’s history, Mega Millions sa...
How Much 401(k) Inheritance Taxes Will Really Cost You
Inheriting a 401(k) can add a wrinkle to your financial plan from a tax perspective. Under 401(k) inheritance tax rules, any assets passed on from one person to another are taxable. The rules for inhe...
House Democrats push for Biden’s billionaire minimum income tax
Erik McGregor | LightRocket | Getty Images As Democrats plow forward with a slimmed-down reconciliation package, House lawmakers are separately pushing another piece of President Joe Biden‘s age...
Inflation Reduction Act: What to Know About the Democrats’ Latest Economic Package
The bill Sen. Joe Manchin (D-W.Va.) and Majority Leader Chuck Schumer agreed to aims to address climate change, healthcare, taxes, and more. Photo by Kevin Dietsch/Getty Images Text size Build Back Be...
Senate Reconciliation Bill Would Close Carried Interest Loophole. What It Means for Private Equity.
Text size Sen. Joe Manchin wants to eliminate a provision giving favorable tax treatment to the private-equity industry. Alex Wong/Getty Images In a surprise, Senate Democrats reached a deal on a bill...
Bipartisan Bill Seeks to Eliminate Taxes on Crypto Transactions Under $50
A bill was introduced in the Senate today that would prevent Americans from needing to disclose capital gains or losses on most smaller-scale crypto transactions. Introduced by senators Patrick Toomey...
Japan’s top crypto lobby groups push for lower taxes to attract talent
Japan’s strongest crypto lobbying groups say that current tax rates prevent industry growth and call for lower taxes to prevent talent outflow. Bloomberg News reported that two of the top lobbying gro...
US: no taxes for crypto transactions under $50
Yesterday, CNBC reported on a proposed bill that would eliminate taxes on crypto transactions worth less than $50. . @SenToomey and @SenatorSinema are introducing a bill that would allow consumers to...
A new Senate bill would bill exempt small crypto from capital gains taxes
A new bill that would exempt small crypto transactions from capital gains taxes has entered the Senate. According to an announcement shared with The Block, Senators Pat Toomey and Kyrsten Sinema have ...
US Senators Introduce Bipartisan Bill to Exempt Small Crypto Transactions From Taxes – Regulation Bitcoin News
A new bipartisan bill has been introduced in the Senate that would simplify the use of cryptocurrency for everyday purchases by creating tax exemption for personal crypto transactions under $50 as wel...
U.S. Senators Propose Bill to Cut Taxes on $50 Crypto Payments
Key Takeaways Senators Patrick Toomey and Kyrsten Sinema have introduced a new bill to the U.S. Senate to exclude small crypto transactions from capital gains tax requirements. The bill would apply to...
Mega Millions jackpot is $790 million. If it’s won, here’s tax bill
Scott Olson | Getty Images If you manage to beat the odds and land the next Mega Millions jackpot, don’t forget that Uncle Sam will snatch a slice of the windfall. The top prize has surged to $7...
Crypto Taxes, Peterffy Concerned BTC Could ‘Become Worthless or Outlawed’ — Bitcoin.com News Week in Review – The Weekly Bitcoin News
In this week’s bite-sized digest of the hottest stories from Bitcoin.com News, a new Finder survey knocks down previous forecasts for ethereum’s price a notch, with crypto experts predicting lower lon...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty – Taxes Bitcoin News
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liq...
India’s finance minister says punitive crypto taxes will remain in force
Local media outlet Financial Express reported that the Indian government has no plans to reduce taxation on crypto transactions. On April 1, India implemented a 30% tax on income gained from cryptocur...
The wealthy now have more time to avoid estate taxes
If your family has significant wealth, it’s now easier to avoid federal estate taxes, thanks to recent changes from the IRS. The IRS improved a strategy known as “portability,” used ...
6 Smart Strategies for Reducing Retirement Taxes
SmartAsset: 6 Strategies to Reduce Your RMDs Individual Retirement Accounts (IRAs), 401(k)s and other workplace plans can help you build wealth for the future while enjoying some tax benefits. There’s...
‘I feel like I’m investing just to afford taxes and broker fees.’ I’m 72, have a cushy amount of money invested and was withdrawing 4% a year, but once I pay fees and California taxes that won’t be enough. Should I ditch my financial adviser?
How to figure out if your adviser is worth what they’re charging you. Getty Images/iStockphoto Question: I have a comfortable balance in my investment account but have a question about only taking out...
Paraguay lawmakers pass a bill targeting crypto taxes and regulations
Senators in Paraguay passed a bill on taxes and regulations in the cryptocurrency sector. The bill targets firms offering crypto trading services and those operating in the crypto mining sector. Parag...
ECB Official said Banning Bitcoin and imposing Carbon Taxes On crypto Transaction due to Climate Change
ECB Official to Ban of Bitcoin and impose Carbon taxes on crypto transactions According to the latest reports of the European Central Bank (ECB), if variation in climate is found, Carbon taxes will be...
Climate Change To Force Bitcoin Ban and Carbon Taxes on Crypto Transactions, Says ECB Official
A new report from the European Central Bank (ECB) finds that climate change may force carbon taxes on crypto transactions as well as a ban on mining proof-of-work assets like Bitcoin (BTC). The report...
Recession Fears Are Top Of Mind, But We Should Be More Worried About America’s Weak Economic Growth
WASHINGTON, DC – MAY 04: U.S. President Joe Biden speaks during an event at the Roosevelt Room of … [+] the White House on May 4, 2022 in Washington, DC. President Biden delivered remarks ...
Kazakhstan raises crypto miners’ taxes
– Advertisement – Cryptocurrency miners in Kazakhstan may face higher tax rates under a new bill signed by the country’s parliament Kazakhstan President Tokayev has signed a new piece of l...
Public pension hole now $11,000 per U.S. worker
Top state and local pension funds lost $250 billion on the markets during the month of June and are down more than $600 billion for the year, according to a new study. The 100 biggest public sector pe...