Government taxation and revenue
Trump floats expanded R&D business tax credits, says he would appoint ‘manufacturing ambassador’
Former U.S. President and Republican presidential candidate Donald Trump speaks during a campaign rally at Johnny Mercer Theatre in Savannah, Georgia, on Sept. 24, 2024. Chandan Khanna | AFP | Getty Images Former President Donald Trump unveiled several new manufacturing proposals at a rally in Savannah, Georgia, on Tuesday, part of an effort to sharpen […]
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Trump’s promise to repeal SALT caps revives the fight on Capitol Hill
U.S. Representative Josh Gottheimer (D-NJ) speaks during a press conference about the SALT Caucus outside the United States Capitol on Wednesday February 08, 2023 in Washington, DC. Matt McClain | The Washington Post | Getty Images House lawmakers are using former President Donald Trump’s own words as leverage to pressure their colleagues into preserving the […]
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GOP House Speaker Johnson backs keeping some of Biden’s clean energy tax credits
Speaker of the House Mike Johnson, R-La., talks with reporters in the U.S. Capitol after the last votes of the week on Thursday, September 12, 2024. Tom Williams | CQ-Roll Call, Inc. | Getty Images U.S House Speaker Mike Johnson said he would preserve some of the clean energy tax credits enacted under President Joe […]
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CEO of property firm Damac expresses concerns over ‘expensive’ Dubai
DUBAI, United Arab Emirates — Dubai’s property scene is showing no sign of cooling off, as 2024 is on track to be another record year in terms of sales figures and property values, according to local real estate firms. Increasing demand for property, especially in the luxury space, is boosting prices not just of homes, […]
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‘Go higher’: Bernie Sanders urges Harris to raise 28% capital gains tax rate proposal
Senator Bernie Sanders (I-VT) speaks during Day 2 of the Democratic National Convention (DNC) in Chicago, Illinois, U.S., August 20, 2024. Mike Segar | Reuters Sen. Bernie Sanders, I-Vt., on Sunday said Vice President Kamala Harris should increase her proposed 28% tax rate on long-term capital gains, marking his latest divergence with the Democratic presidential […]
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How high earners can funnel money to a Roth IRA, the ‘gold standard’ of retirement accounts
Key Points Investors with high incomes may not be able to contribute to a Roth or make deductible contributions to a traditional individual retirement account. However, a strategy called the “backdoor Roth IRA” lets high earners access Roth accounts. Investors would make a nondeductible contribution to a traditional IRA, and then convert those funds to […]
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Hunter Biden will change plea in tax case, lawyers tell judge
Hunter Biden, son of US President Joe Biden, arrives at court for his trail on tax evasion in Los Angeles, California, on September 5, 2024. Ringo Chiu | AFP | Getty Images A lawyer for Hunter Biden told a federal judge in Los Angeles there was no reason to proceed with the scheduled start of […]
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Mark Cuban says Harris won’t tax unrealized capital gains: ‘Not going to happen’
Billionaire investor Mark Cuban on Thursday insisted that Democratic presidential nominee Kamala Harris would not tax unrealized gains as president. “Every conversation I’ve had is that it’s not going to happen,” Cuban said on CNBC’s “Squawk Box.” Cuban’s remarks could signal another break on tax policy between Harris and President Joe Biden, who dropped out […]
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Harris unveils plan for 28% capital gains tax, softening Biden’s proposal for 40% rate
Vice President Kamala Harris boards Air Force Two at Joint Base Andrews in Maryland on September 4, 2024. Erin Schaff | The New York Times | Via Reuters Vice President Kamala Harris on Wednesday proposed a 28% tax on long-term capital gains for households with an annual income of $1 million or more, lower than […]
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Soaring sports team values create new pressure for owners on taxes, succession
A detail view of a NFL shield logo paint of the field during a preseason game between the Los Angeles Rams and the Houston Texans at NRG Stadium on August 24, 2024 in Houston, Texas. Ric Tapia | Getty Images Sport | Getty Images Sports team owners benefiting from soaring team values are also facing […]
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