NEW YORK, NEW YORK – SEPTEMBER 08: A person wearing a protective face mask walks by a going out of … [+] business sign displayed outside a retail store in midtown as the city continues Pha...
Tag: Taxes
Do I Have to Pay Capital Gains Taxes on Roth IRAs?
roth ira taxed on gains When you’re saving for retirement, there are a variety of accounts you could use. The Roth IRA, or individual retirement account, is one of those options. Roth IRAs offer more ...
California Faces First Budget Gap Since 2018 as Stock Market Hits Taxes
(Bloomberg) — Governor Gavin Newsom said California will face a $22.5 billion budget deficit in the coming fiscal year, the first for the most populous US state since 2018 as the global stock ma...
House Republicans have voted to cut IRS funding
New U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks with reporters in Washington, Jan. 7, 2023. Jon Cherry | Reuters House Republicans on Monday night voted to slash funding for the IRS, fo...
Here’s why the IRS would want to audit your taxes
After you file your taxes, you probably don’t want to think about them again until the next year. But if you’re too aggressive with certain deductions or credits, that could trigger an audit from the ...
BlockFi said CEO cashed out nearly $10 million as FTX loan stabilized clients
Bankrupt crypto lender BlockFi said its CEO cashed out close to $10 million from the platform to pay taxes last year as FTX provided about $15 million in payments to certain insider accounts as part o...
I’m Divorced. Can Both My Ex and I Claim Head of Household For Taxes?
SmartAsset: Can Both Divorced Parents Claim Head of Household? Getting divorced can have financial implications for how you file taxes. One question you might have is whether both of you can claim hea...
How Will Flipping Houses Affect My Taxes?
SmartAsset Real Estate Guide: Flipping Houses and Taxes Flipping houses can be a lucrative business. But don’t let the idealized house-flipping TV shows affect your view of how it works. You need to b...
Romania Carries Out Raids as Part of Crypto Tax Evasion Probe – Taxes Bitcoin News
Authorities in Romania have conducted more than a dozen raids against people suspected of hiding income from cryptocurrency operations. The searches took place in late 2022 following an earlier invest...
$3.8B of Cumulative Volume Moved Overseas Since Indian Crypto Taxes Kicked In
While Indian crypto exchanges lost a significant portion of their trading volume after new taxes for the sector came into force, the losses, so far, were referred to in percentage terms, with most est...
Can I Deduct My Church Donations From My Taxes?
SmartAsset: Are Church Donations Tax-Deductible? Giving money to a good cause can lift our spirits, but can it also lift our tax burden? What about if we’re not donating to a charity, but to a church?...
Mega Millions Jackpot Reaches $1.1 Billion—Fifth-Biggest Jackpot Ever—Here’s What The Winner Would Receive After Taxes
Topline The Mega Millions jackpot surpassed $1 billion after no winning ticket was claimed Friday night, Mega Millions announced Saturday morning, making it the fifth-largest jackpot of all time, alth...
Shell to Pay $2 Billion in Windfall Taxes. Why the Stock Is Rising.
Shell Europe’s largest oil and gas company, said it will have to pay about $2 billion in additional taxes in the fourth quarter, but still sees strong earnings from natural gas trading for the period....
India’s Crypto Taxes Pushing Users Away, Crypto Daily TV 5/1/2023
In Todays Headline TV CryptoDaily News: Core Scientific to shut down Celsius crypto mining equipment. Bitcoin miner Core Scientific will shut down mining rigs tied to Celsius Mining, Core’s larg...
Mega Millions Jackpot Rises To $940 Million—Here’s How Much The Winner Would Take Home After Taxes
Topline The Mega Millions jackpot rose to around $940 million after no one won Tuesday night’s draw, making it the sixth-largest reward in U.S. history, though the eventual winner will take home a far...
5 tax, investment changes that could boost your finances in 2023
1. Bigger contribution limits on retirement accounts If you’re eager to boost your retirement savings, there’s good news for 2023: higher contribution limits for your 401(k) and individual...
Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law – Taxes Bitcoin News
The Italian Parliament has introduced a 26% capital tax on cryptocurrency gains as part of the 2023 budget law, which was approved on Dec. 29. The document also offers incentives for taxpayers to decl...
How to Avoid Capital Gains Taxes
We all know that only two things in life are truly certain: death and taxes. But just because taxes are an inevitable part of our society doesn’t mean you can’t limit how much you pay to Uncle Sam. Ta...
Fund a Roth 401(k) if You’re in a Low Tax Bracket. Here’s Why.
If you’re not earning big bucks this year, consider saving money in a Roth 401(k) instead of a traditional 401(k). Roth contributions make sense when your current tax rate is less than your rate in re...
Additional Taxes on Qualified Plans Definition
What Is Form 5329: Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts? Form 5329, entitled “Additional Taxes on Qualified Retirement Plans (including IRAs) and O...
Opinion: Opinion: Trump’s low tax payments are what happens with a too-complex tax code
People tend to have one of two reactions to the revelation that former President Donald Trump paid little to no taxes in recent years: He’s either an amoral tax cheat or he’s smart. To me, it reveals ...
What’s The Earliest Date To File Taxes In 2023? How To Get The Quickest (And Biggest) Tax Return
| SOPA Images/LightRocket via Getty Images Key Takeaways The earliest the IRS accepts tax filings is the end of January. Expect an official date from the IRS sometime in mid-January. Filing your taxes...
Donald Trump paid $0 in taxes in 2020. He’s not alone: 60% of households paid no federal income tax that year, but for very different reasons.
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...
Apple Japan to Pay $98 Million in Back Taxes for Missing Duty-Free Abuses
Notably, iPhones are cheaper in Japan than abroad. As a result, Tokyo authorities suspect vendors trying to take advantage of the country’s duty-free system, purchasing the products and then selling t...
If You Own Bonds, Consider Tax-Loss Harvesting This Year
In a year where nothing seemed to work on Wall Street, investors still have a rare opportunity to make the best of a bad situation by tax-loss harvesting their bond portfolio. Bond holders don’t do m...
How Much Do I Have to Pay in Taxes With a Side Job?
how to avoid paying taxes on side jobs The gig economy pads the budgets of millions of Americans — but there are tax implications from taking a side job. Fortunately, you can reduce the taxes on your...
US Government Delays Tax Reporting Rules for Cryptocurrency Brokers – Taxes Bitcoin News
The enforcement of a requirement for brokers to report gains made by crypto investors has been postponed by the U.S. Treasury Department and the IRS. The new tax rules, incorporated into the $1 trilli...
Five Last-Minute Tax Deductions – TheStreet
2022 has been a bumpy ride for Americans, with a roiling economy, angst over viruses, surging numbers of layoffs, a lackluster stock market,, and a general downward tilt in consumer confidence. Weary ...
Opinion: Roth IRA conversions: Take advantage of this limited-time offer to save on taxes
No one likes taxes, but everyone loves a sale. So the idea of a major blowout on Roth conversions in 2023 — a limited time offer, no less — might make it enticing to pay taxes now to avoid them in the...