The mayor of Australia’s Gold Coast, Tom Tate, has suggested that city residents may be paying council rates or a local property tax in Bitcoin. Critics have flagged concerns that the price vola...
Tag: Taxes
Terra Investors Grappling with Taxes After Losing Everything
Alex Dovbnya Indian Terra buyers could actually lose money with new LUNA airdrop Taxes could prevent those Indians who got burned by the Terra disaster from recovering even a portion of their losses, ...
Investors revisit muni bonds amid higher yields and strong credit
David Jakle | Image Source | Getty Images It’s been a tough year for municipal bonds, with investors cashing out amid rising interest rates. However, higher yields and strong credit may be spark...
John Fetterman Supports Soda Taxes & Claims They Aren’t Regressive, But Bernie Sanders Begs To Differ
Lieutenant Governor John Fetterman (D – PA), now Democratic nominee for U.S. Senate (Photo by Mark … [+] Makela/Getty Images) Getty Images Soda taxes are once again back in the news thanks...
Portuguese Parliament Rejects Crypto Tax Proposals During Budget Debate – Taxes Bitcoin News
Two proposals to tax crypto assets have failed to gain support from Portuguese lawmakers who are now discussing the state budget. The bids came from minority left-wing parties, while the ruling majori...
Thailand Exempts Crypto Transfers From VAT Until End of 2023 – Taxes Bitcoin News
Authorities in Thailand have formally introduced a value-added tax (VAT) exemption for transfers of cryptocurrencies through government-approved exchanges. The tax break, in force until the end of nex...
Tax breaks aren’t prime reason for high-net-worth philanthropy
Maria Teijeiro | OJO Images | Getty Images Tax breaks aren’t the primary incentive for philanthropy among the ultra-wealthy, according to BNY Mellon Wealth Management’s inaugural Charitabl...
Terra Has Paid All Taxes In Full, Terraform’s Do Kwon Says
The issue between South Korea’s authorities and Terraform Lab is not over. The platform was recently called out for operating in the country without remitting taxes. The report last week revealed that...
Terraform Labs Has Paid in Full its Taxes in South Korea, Says Do Kwon
A lot has been said about Do Kwon, his cryptocurrency project, and the failure of the two native digital assets in the past two weeks. One of them included owning $78 million in taxes to South Korea, ...
The 10 Most Common Mistakes Retirees Make On Their Taxes
getty It has been said of life’s two certainties—death and taxes—death doesn’t get worse every time Congress meets. Over the last 35 years, I’ve seen retirees pay a bundle in taxes they didn’t have to...
Report: Crypto traders potentially owe IRS around $50B in unpaid taxes
A Barclays report has revealed that crypto investors might not be paying their full taxes to the Internal Revenue Service (IRS), saying that the tax gap for crypto traders could be up to $50 billion, ...
Australian Taxation Office to Focus on Capital Gains From Crypto Assets – Taxes Bitcoin News
The Australian tax agency has listed crypto-related profits among several priority areas where more efforts are needed to ensure correct reporting. The authority has reminded taxpayers they need to ca...
Portugal Stance On Taxes – Crypto Haven No More?
Portugal is a crypto tax haven since 2018 but not for long. The country used to have a hands-off policy on crypto exchanges, sale, and trading but has now maneuvered in the opposite direction by decid...
Portugal Imposes Taxes on the Exchange of cryptocurrencies
One of the Crypto tax-free countries, Portugal was called a crypto heaven country due to its absence of crypto-related taxation on any earnings reported on crypto transactions. Portugal is now plannin...
Portugal to Impose Taxes on Cryptocurrencies
Portugal’s government has announced plans to tax crypto income. Fernando Medina, Portugal’s new finance minister, announced in the parliament on Friday that crypto coins will be subject to taxa...
Germany Declares Crypto Gains Tax-Free After 1 Year — Even if Used for Staking, Lending – Taxes Bitcoin News
The German Ministry of Finance has published a letter officially confirming that the sale of crypto assets is tax-free after one year even if the coins are used for staking and lending. How Crypto Gai...
IRS insists destruction of taxpayer data won’t affect payers
alfexe | iStock | Getty Images Filers won’t be affected by the IRS decision to destroy data for millions of taxpayers, the agency said in a statement Thursday. The IRS tossed an estimated 30 mil...
Tax pros ‘horrified’ by IRS decision to destroy data on 30 million filers
courtneyk | E+ | Getty Images An audit by the Treasury Inspector General for Tax Administration revealed the IRS has tossed data for millions of payers, sparking anger from the tax community. The mate...
Do Beneficiaries Pay Taxes on Estate Distributions?
SmartAsset: Do Beneficiaries Pay Taxes on Estate Distributions? Estate taxes can take a bite out of your inheritance income. While many beneficiaries can avoid the brunt of inheritance taxes, they wil...
IRS Taxes Kentucky Derby Wins, But Can You Deduct Losses?
Rich Strike’s improbable Kentucky Derby win made the owner flush, with a $1.86M purse on a horse that only cost $30,000. There were plenty of other winners too, for anyone bold and prescient enough to...
Over 60 million tax returns could be completed automatically, study says
Tom Werner | DigitalVision | Getty Images The IRS may have the ability to automate nearly half of tax returns, according to a working paper from the National Bureau of Economic Research. The agency co...
South Korea’s New President Postpones Crypto Taxes to Promote Consumer Protection – crypto.news
The country’s new president is demonstrating his familiarity with cryptocurrency by announcing that no taxes will be levied on cryptocurrency investment profits until legislation can provide consumer ...
South Korea’s new president delays crypto taxes in favor of consumer protections
South Korea’s newly-elected president Yoon Seok-yeol announced Tuesday he would push to defer taxation on crypto investment gains at least until a new set of regulations called the Digital Asset Basic...
Can You Deduct Rent on Your Taxes?
SmartAsset: Can You Deduct Rent on Your Taxes? If you’re wondering whether you can deduct your rent on your taxes, the short answer is yes. You can deduct rent if you live in a state that allows it. H...