Individuals are expected to pay income tax on gains from cryptocurrency trading, the tax authority of Bosnia has determined. In the absence of dedicated regulations, the federal government in Sarajevo...
Tag: Taxes
Brazil’s oldest bank allows residents to pay their taxes using crypto
A major Brazilian bank is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies. According to a statement published by Brazilian bank Banco do Brasil on Feb. 1...
Historic legacy bank enables Brazilians to pay taxes using crypto
Ad Brazilian bank Banco do Brasil and crypto firm Bitfy will enable Brazilian taxpayers to pay their taxes using cryptocurrencies. Banco do Brasil is the country’s oldest bank and among the world’s ol...
7 Things You Can Do Now to Shave Your Tax Bill Next Year
The 2023 tax year has only just begun, and the tax-filing deadline for 2023 taxes is more than a year away. But if you get a jump on planning, you can lock in big tax savings. With stock prices still ...
The IRS Has New Tax Rules for State Payments. What They Could Mean for You.
The Internal Revenue Service on Friday gave the green light to taxpayers in 21 states who had been waiting for the agency to clarify the taxability of certain state payments before filing their federa...
Bank of Brazil Now Allows Citizens To Pay Taxes With Crypto
Bank of Brazil, a.k.a Banco do Brasil, has announced that citizens can now pay their taxes with cryptocurrency. According to a post on their official website, Brazil’s oldest bank stated that this fin...
I’m a Day Trader. How Can I Reduce My Taxes?
how do day traders avoid taxes Day trading can be a fulfilling and lucrative career. If you know what you’re doing, you can make a serious chunk of change. But with every financial success comes every...
Brazil’s oldest bank says you can now pay your taxes with crypto
Banco do Brasil, the South American country’s oldest bank, says it’s now possible to do what many blockchain enthusiasts have long wanted — the ability to pay the taxman in crypto. T...
How to decide between pre-tax and Roth 401(k) contributions
Prathanchorruangsak | Istock | Getty Images Whether you’re starting a new job or updating retirement savings goals, you may need to choose between pre-tax or Roth 401(k) contributions — and the ...
IRS says people in most states who got inflation-relief payments don’t have to report it on their taxes. Here’s where.
The IRS is not going to tax payments from most of the states that cut checks to residents last year in order to help them defray rising living costs. This week, the IRS has been trying to determine if...
How Do I Calculate Modified Adjusted Gross Income For My Taxes?
What Is Modified Adjusted Gross Income? The IRS uses your modified adjusted gross income (MAGI) to determine whether you qualify for important tax benefits like deducting contributions from your indiv...
Should I Buy a Property With Delinquent Taxes?
How to Buy Property With Delinquent Taxes When a homeowner defaults on property taxes, the county may place a tax lien on the property. This could end in a tax sale with an investor paying the taxes t...
Washington Resident Wins $754 Million Powerball Jackpot—Here’s How Much They Will Take Home After Taxes
Topline A single ticket sold in Washington state was declared the winner of the $754 million Powerball jackpot on Monday, the ninth-largest lottery jackpot in U.S. history, although the actual amount ...
Binance Launches New Tool to Help Crypto Traders With Taxes
Binance has introduced a crypto tax calculator feature for easy tax filings. But, not every user can take advantage of the facility. The crypto industry is gradually moving away from an unregulated te...
Where your dog lives could impact your taxes
Which state gets to tax your income may come down to where your dog lives if you relocated. That’s what it took for Gregory Blatt, the former CEO of Match.com. New York claimed Blatt owed $430,0...
Do I Need to Report Foreign Income on My Taxes?
SmartAsset: how to report foreign income without w2 As a U.S. citizen or legal permanent resident, the IRS is in charge of collecting a cut of your income. Even if you work or live outside the U.S., U...
Property Taxes Are Going Up; Here’s How to Lower Your Bill
Listen to article (1 minute) The cost of homeownership will rise for millions of Americans in coming weeks as new property-tax assessments arrive in the mail. Property taxes have risen across much of...
Ford Mach-E Sales Fall 45%. The Reasons: High Prices, Incentive Confusion.
Text size Ford sold 2,626 Mustang Mach-E electric vehicles in January, down from 4,775 in December. Scott Olson/Getty Images Electric-vehicle sales at Ford Motor dipped to start the new year, showing ...
How High Are California Capital Gains Taxes?
California Capital Gains Tax When someone makes an investment, they’re obviously hoping that it ends up making them money. Otherwise, there would be no point to the investment. If you do increase your...
Uzbekistan Collects Over $300,000 From Crypto Sector – Taxes Bitcoin News
While operations with digital assets are not taxed in Uzbekistan, the government is receiving a growing amount of revenues from the industry. The increase in budget receipts has been attributed to the...
Don’t risk an audit. Here are four reasons the IRS may flag your return
dmphoto | E+ | Getty Images Tax season is underway and there’s been increased scrutiny of the IRS as the agency starts deploying part of the nearly $80 billion approved by Congress in August. W...
High Crypto Taxes in India Remain Unchanged, Using Offshore to Avoid TDS Prohibited
Months of lobbying by Indian and global crypto firms to see if the local tax laws will provide some leeway proved futile. The Indian Finance Minister, in her budget speech for the 2023-24 fiscal, did ...
Powerball Jackpot Reaches $700 Million—Here’s What The Winner Would Take Home After Taxes
Topline The Powerball jackpot jumped to $700 million on Thursday after no winning tickets were drawn Wednesday night, making it the 10th biggest lottery jackpot in history, although the winner would t...
I’m 72, have a cushy amount invested and was withdrawing 4% a year. But once I pay my financial adviser’s fees and California taxes that won’t be enough. What’s my move?
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...
This Trick Can Help U.S. Investors Save Fortune On Crypto Taxes
Crypto taxes in the United States can be a complex and overwhelming topic for many investors. With the increasing popularity of cryptocurrencies, it’s important to understand the tax implications and ...
Tax credits vs. tax deductions: How they differ
D3sign | Moment | Getty Images It’s tax season, and households are confronted by a lot of tax jargon when preparing their returns. Two types of tax breaks stand out among all the lingo: credits ...
How to handle cryptocurrency losses on your 2022 tax return
A worsening macroeconomic climate and the collapse of industry giants like FTX and Terra have weighed on bitcoin’s price this year. STR | Nurphoto via Getty Images Crypto losses can offset inves...
How to Reduce Your Taxes on Pass-Through Income
SmartAsset: How Is Pass-Through Income Taxed? When you own or invest in a business, you may receive distributions from its profits. Depending on how the business is structured, the company may not hav...
New York Assembly introduces crypto payments bill for fines, taxes
A bill introduced to the New York State Assembly on Jan. 26 would allow state agencies to accept cryptocurrency as a form of payment for fines, civil penalties, taxes, fees and other payments charged ...