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
Markets

These 25 US counties are paying most of the federal income taxes

25 counties in the United States paid more than a quarter of the total income tax collected in 2016, according to IRS data. Los Angeles County alone, with a population of over 10 million, paid 3.67% of all income tax liability in 2016. New York County, which covers Manhattan, has […]
These 25 US counties are paying most of the federal income taxes
News

Here are the most important upcoming dates related to the government shutdown

The partial government shutdown has become the longest in United States history. Nearly 800,000 federal workers are furloughed or going without pay. The government shutdown affects other areas of the US economy, not just federal workers. As the partial government shutdown continues with what appears to be no end in […]
Here are the most important upcoming dates related to the government shutdown
Markets

The 27 US states where millionaires face the highest taxes

The new GOP tax law may have changed a few things, but it still follows America’s progressive tax system – the more money you earn, the more taxes you pay. When it comes to state income tax, how much you owe varies by state. Using the Tax Foundation, we found […]
The 27 US states where millionaires face the highest taxes
News

What to do when you get audited by the IRS

If you receive a notice from the IRS it’s important to read it thoroughly and do your research. The IRS isn’t always right, so you should do your own research and, in some cases, hire a professional. It’s important to be honest and upfront with the IRS and provide them […]
What to do when you get audited by the IRS
Tech

Ohio will soon be the first state to accept Bitcoin for taxes

Ohio is becoming the first US state to accept the Bitcoin cryptocurrency for business tax payments. Ohio politicians have been open about their desire to be on the forefront of blockchain technology adoption. It’s good news for Bitcoin and cryptocurrency among a stream of recent negative news. The state of […]
Ohio will soon be the first state to accept Bitcoin for taxes
Lifestyle

The 25 US states with the highest sales tax, ranked

Your Black Friday and Cyber Monday purchases may cost a little more if you live in a state with high sales tax. Every state determines which goods and services apply to their sales tax, and some cities impose local taxes. Using data from the Tax Foundation, we ranked the 25 […]
The 25 US states with the highest sales tax, ranked
Markets

10 tax breaks around the world that you can’t get in the US

US citizens receive a variety of tax breaks and tax incentives. But, there are still many tax cuts, breaks, and incentives that citizens in other countries receive that Americans don’t. These tax cuts include corporate tax breaks, tax-free incomes, and business incentives. Taxes in the US can be complicated, so […]
10 tax breaks around the world that you can’t get in the US
Markets

Everything you should be doing to prepare for tax season

The next tax day is Monday, April 15, 2019. To prepare for tax season you’ll want to gather some previously filed documents and obtain other documents you may need to file for tax returns. Start tracking your income and deductions as soon as possible. The next tax day is April […]
Everything you should be doing to prepare for tax season
News

Jared Kushner reportedly dodged paying income taxes for years

Jared Kushner, President Donald Trump’s son-in-law, paid little to no federal income taxes from 2009 to 2016, according to a report from The New York Times. Filings by the Kushner Companies reviewed by The Times show massive losses listed as depreciation, a real estate tax law allowance that allows for […]
Jared Kushner reportedly dodged paying income taxes for years
News

New York Times report says Trump engaged in ‘outright fraud’ to avoid taxes as he inherited father’s wealth — worth more than $400 million in today’s dollars

The New York Times on Tuesday released an extensive investigation focused on President Donald Trump’s fortune. The Times reported that the president and his family engaged in “instances of outright fraud” to enhance their wealth. The story also runs counter to Trump’s narrative that he is a self-made billionaire. The […]
New York Times report says Trump engaged in ‘outright fraud’ to avoid taxes as he inherited father’s wealth — worth more than $400 million in today’s dollars
Markets

6 things other governments provide that Americans still have to pay for

The American government pays for a lot of things, but it doesn’t cover everything other governments do. Americans still need to pay for things like healthcare, college, and daycare out of their own pockets. However, just because other governments pay for these benefits doesn’t necessarily mean they’re free – these […]
6 things other governments provide that Americans still have to pay for
News

Trump confirmed that his administration may try a legally dubious manoeuvre to create a $100 billion tax cut that overwhelmingly benefits the wealthy

President Donald Trump told Bloomberg that he is considering indexing capital gains taxes to inflation. The move would result in a $US102 billion tax cut over the next 10 years that would overwhelmingly benefit wealthier Americans. But the idea is legally dubious. President Donald Trump confirmed Thursday that he is […]
Trump confirmed that his administration may try a legally dubious manoeuvre to create a $100 billion tax cut that overwhelmingly benefits the wealthy
News

Fox News’ Maria Bartiromo is getting slammed for her friendly interview with Trump

The Fox Business Network host Maria Bartiromo is facing particularly fierce criticism over her latest interview with President Donald Trump, during which she did not challenge Trump’s unsubstantiated or false claims. A barrage of critics online accused Bartiromo of peddling Trump’s propaganda and following an administration-approved script. “Almost every time […]
Fox News’ Maria Bartiromo is getting slammed for her friendly interview with Trump
News

Even Republican voters are starting to lose faith in the GOP tax law

A new Monmouth University poll found 40% of Americans approve of the GOP tax law, while 44% disapprove. Perhaps the more troubling number for Republicans: Only 38% of Republican voters strongly support the law, down from 49% in January. The GOP is already facing an enthusiasm gap in the 2018 […]
Even Republican voters are starting to lose faith in the GOP tax law
News

Trump wants to go after Amazon

President Donald Trump is “obsessed” with Amazon, a source told the news website Axios. The president is considering targeting the retail giant’s tax status or antitrust action. Trump blames Amazon for the decline of brick-and-mortar retailers and the pain that has caused real-estate developers. And he thinks the company is […]
Trump wants to go after Amazon
News

How the super-wealthy hide billions using tax havens and shell companies

The Panama Papers were the 11.5 million files leaked in 2016 from Mossack Fonseca, the world’s fourth-largest offshore law firm. Every year, about $US70 billion that the US could be using for infrastructure, law enforcement, healthcare or education is missing. It’s hidden deep within shell companies and anonymous entities in […]
How the super-wealthy hide billions using tax havens and shell companies
Markets

With the deadline for filing taxes Tuesday, many cryptocurrency investors are freaking out about what they owe the IRS for their holdings

Cryptocurrency exchanges generally don’t send customers information about potential tax liabilities. With the deadline for filing taxes Tuesday, many cryptocurrency investors are freaking out about what they owe the IRS for their holdings The bitcoin boom of 2017 minted several new millionaires – but not everyone who jumped on the […]
With the deadline for filing taxes Tuesday, many cryptocurrency investors are freaking out about what they owe the IRS for their holdings
News

Your paycheck probably just got a little bigger — here’s why

Republicans’ new tax law went into effect at the start of January. The Internal Revenue Service released new guidelines for employers withholding income tax from employees on January 11. The new withholding changes should hit Americans’ paychecks soon, resulting in roughly 90% of workers getting higher take-home pay, per the […]
Your paycheck probably just got a little bigger  —  here’s why
News

Republicans are winning the war over the tax law

A new Monmouth University poll found 44% of Americans approved of the GOP tax law, while 44% disapproved. This was a notable increase from a Monmouth poll in December that showed 26% approval and 47% disapproval. The gain in the Monmouth poll matched improved image outlooks for the law in […]
Republicans are winning the war over the tax law
Markets

How to use TurboTax to file your taxes for free in 2018

TurboTax offers a free online tax filing service for eligible taxpayers. The final tax deadline is April 17 this year. The IRS recommends e-filing your taxes and requesting your refund via direct deposit. Business Insider decided to try the free version of TurboTax’s service. Tax Day is here. The final […]
How to use TurboTax to file your taxes for free in 2018
News

The IRS just blew millions of dollars on a project that already failed before

A 2015 bill directed the Internal Revenue Service to begin using private debt collection agencies to recover some outstanding tax debts. The program cost $US20 million in fiscal year 2017, but the private collectors only regained $US6.7 million of the $US920 million of debt assigned to them. The private collectors […]
The IRS just blew millions of dollars on a project that already failed before
Markets

There’s a very simple thing most people get wrong about taxes

The Republicans’ proposed tax bill would change income tax brackets in 2018. But many Americans don’t understand how tax brackets work. We put together a handy guide to explain. The massive Republican tax bill passed Congress on Wednesday. The bill, called the Tax Cuts and Jobs Act, is now heading […]
There’s a very simple thing most people get wrong about taxes
Markets

Here’s how your tax bracket will change in 2018

President Donald Trump signed the Republican tax bill into law at the end of December. 2018 tax brackets have been changed under the new law, and are in effect starting this year. There are still seven income tax brackets, but the ranges have been adjusted. The personal exemption has been […]
Here’s how your tax bracket will change in 2018
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