Markets

China to cut import tariffs on 850 products starting January 1

China on Monday morning announced it would cut import taxes on a range of products starting January 1. The move does not appear to be directly related to trade-war talks with the US. The goods will include frozen pork, pharmaceuticals, paper products, and some tech components, Bloomberg said, citing a […]
China to cut import tariffs on 850 products starting January 1
Tech

Amazon tried to remove a Seattle City Councilmember and lost. Here’s how she describes taking on and defeating one of the world’s biggest companies.

Amazon spent $US1.45 million on lobbying efforts in the recent Seattle City Council election. Amazon’s primary target was Seattle City Councilmember Kshama Sawant, who has loudly and consistently criticised Amazon’s impact on its home town. The money went to a political action committee that supported candidates with business-friendly policies. Despite […]
Amazon tried to remove a Seattle City Councilmember and lost. Here’s how she describes taking on and defeating one of the world’s biggest companies.
Markets

15 US cities where wealthy families pay the least in taxes

For wealthy families wanting to save on taxes, these 15 cities in Washington, Texas, Florida, and Indiana are the best, according to data from GOBankingRates. The data considers state and local taxes, the costs of homes, median incomes, and community factors like crime rates and school quality. Suburbs near cities […]
15 US cities where wealthy families pay the least in taxes
Markets

What tax bracket am I in? Here’s how to find out

How much you pay in federal income taxes depends, in part, on what tax bracket you fall into. There are seven tax brackets with tax rates ranging from 10% to 37%, and the thresholds are updated every year for inflation. Your tax bracket applies to only the amount you earn […]
What tax bracket am I in? Here’s how to find out
Markets

How to contact the IRS if you haven’t received your refund

In most cases, you’ll get your tax refund automatically within 21 days of submitting an electronic tax return. In some cases, however, it can take longer. You’ll have to contact the IRS if you haven’t received your refund, which requires some web browsing and possibly a phone call. Be prepared […]
How to contact the IRS if you haven’t received your refund
Strategy

The 9 biggest money-related reasons people get married

Financial stability is a major factor in Americans’ decision to get married. We asked experts to weigh in on the biggest financial advantages of tying the knot. They said marriage comes with a number of monetary benefits, including potentially lower tax rates and better insurance options. Visit Business Insider’s homepage […]
The 9 biggest money-related reasons people get married
Markets

How to calculate sales tax on almost anything you buy

It’s not hard to calculate sales tax. However, it’s much more complicated to figure out the exact tax rate, since it varies by state and by purchase amount. Visit Business Insider’s homepage for more stories. When you buy something in the US, you almost always pay more than the sticker […]
How to calculate sales tax on almost anything you buy
News

Tax returns show many 2020 Democrats have one financial habit in common

Democratic presidential candidates have started releasing their tax returns, and most of them give small amounts of their income to charity. For instance, Beto O’Rourke gave just 0.3% of his income to charity last year, or $US1,166 of the $US366,455 he and his wife made, according to his tax return. […]
Tax returns show many 2020 Democrats have one financial habit in common
News

The White House says Democrats will ‘never’ obtain Trump’s tax returns, but Republicans revealed private tax information while investigating Obama officials

Democrats on the House Ways & Means Committee have requested six years of President Trump’s tax returns using an old law as justification. The White House is resisting, saying the request is for obvious political reasons. But Republicans revealed private tax information during their 2014 probe of officials in President […]
The White House says Democrats will ‘never’ obtain Trump’s tax returns, but Republicans revealed private tax information while investigating Obama officials
Markets

Here are all the places you can score Tax Day freebies and deals

Tax Day this year is Monday, April 15. Many stores are celebrating by offering free or discounted items to help people celebrate the end of tax season. Great American Cookies is offering a free cookie, while Hot Dog on a Stick is offering a free Original Turkey or Veggie Dog. […]
Here are all the places you can score Tax Day freebies and deals
Markets

7 ways to use your tax refund to build wealth this year

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, but our reporting and recommendations are always independent and objective. During last year’s refund season, the average family received $US2,727 back from the […]
7 ways to use your tax refund to build wealth this year
Strategy

How much 25 major US cities pinch from your wallet in taxes

State and local taxes vary widely from place to place. Here are the sales and income tax rates faced by residents of the 25 biggest US cities. Tax season is upon us, and while most Americans are focused on their federal income taxes, state and local taxes vary wildly from […]
How much 25 major US cities pinch from your wallet in taxes
Strategy

The best and worst states to live in for taxes

While federal taxes are the lion’s share of most US tax bills, state governments also levy taxes on incomes, sales, property, and other transactions and assets. Using data from the US Census Bureau, we found total per-capita tax revenues in each state and DC. Big, urban coastal states and a […]
The best and worst states to live in for taxes
News

Alexandria Ocasio-Cortez’s Green New Deal is right about transforming transportation — but we don’t have to wait for its more ambitious goals

US Representatives Alexandria Ocasio-Cortez and Ed Markey’s Green New Deal is wildly ambitious and has sparked needed debate about solutions to global warming. The Green New Deal argues for sweeping changes to the nation’s transportation system. Those sweeping changes would all be great – but they’re also politically challenging and […]
Alexandria Ocasio-Cortez’s Green New Deal is right about transforming transportation — but we don’t have to wait for its more ambitious goals
Markets

5 tax breaks you can’t get anywhere but the US

Some tax deductions and tax credits for businesses and individuals are unique to the United States tax code. The Foreign Earned Income Exclusion, for example, allows expats to avoid paying US taxes on income earned in the country where they live and work. New under the Tax Cuts and Jobs […]
5 tax breaks you can’t get anywhere but the US
Strategy

Wealthy investor Nick Hanauer says the US economy mints billionaires while many Americans are struggling, and there’s no excuse for it

Nick Hanauer is a wealthy, Seattle-based investor, author, and progressive activist who thinks significantly raising taxes on the rich will help correct structural deficiencies in the economy. Fed chairman Jerome Powell has called for policies that will address income inequality, to improve economic mobility in America. This article is part […]
Wealthy investor Nick Hanauer says the US economy mints billionaires while many Americans are struggling, and there’s no excuse for it
News

Alexandria Ocasio-Cortez, Bernie Sanders, and Elizabeth Warren’s ‘soak the rich’ tax plans are supported by an increasing number of Americans

Rep. Alexandria Ocasio-Cortez and Sens. Elizabeth Warren and Bernie Sanders have all introduced plans to increase taxes on the wealthy. While Republicans and wealthier businesspeople have attacked the proposals, the American public is open to the ideas, according to new polls. A new INSIDER poll found 37% of respondents supported […]
Alexandria Ocasio-Cortez, Bernie Sanders, and Elizabeth Warren’s ‘soak the rich’ tax plans are supported by an increasing number of Americans
Markets

The 25 most charitable counties in the US, according to income tax data

In Teton County, Wyoming, the county with the highest rate of charitable contributions on this list, 2016 tax deductions for charity averaged over $US45,000 per taxpayer. In counties with the least charitable giving, deductions averaged out to less than $US2000 per taxpayer, or over 22 times less money given than […]
The 25 most charitable counties in the US, according to income tax data