Tax planning
Switzerland has long welcomed the ultra wealthy. A referendum on a new tax has riled them up
Billionaire count: 57Total wealth: $125 billionKnown as the playground of the rich and famous, Switzerland is 8th in the global billionaire sweepstakes and ranks 7th as the home of those worth $30 million and more, or the ultra-wealthy.Switzerland’s billionaires represent the top one percent of its 5,597 ultra-wealthy population and control more than 19 percent […]
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Wealthy Americans are traveling to Europe to dodge tariffs on luxury goods
Key Points Some affluent consumers are planning trips to Europe to buy luxury goods, with the goal of bringing them back tariff-free. Watchmakers in Switzerland and fashion boutiques in France and Italy are among the most sought after, travel advisors said. There are caveats to the strategy, experts said. For one: Travelers are supposed to […]
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Trump ‘big beautiful’ bill gives top 1% biggest tax cuts in these states
Key Points Legislation championed by President Donald Trump would give the top 1% of U.S. households an average tax cut of about $66,000, according to the Institute on Taxation and Economic Policy. The highest earners in Wyoming, South Dakota and Texas stand to get a tax cut of more than $100,000 from the bill, formerly […]
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Why Trump tax deductions — for tips, car loans and more — may not carry large benefits for low earners
Key Points New tax deduction — on auto loans, tips and overtime pay, and for older Americans — wouldn’t deliver much of a financial benefit for lower earners, experts said. These policies are part of a massive legislative package championed by President Donald Trump. Source
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Getting Trump’s full tax break on car loans may mean buying a $130,000 vehicle
Key Points President Donald Trump proposed a tax break on car loan interest while on the campaign trail last year. House and Senate Republicans have pitched a $10,000 tax deduction on auto loan interest as part of the so-called “one big beautiful bill” being debated in Washington. Households would likely need to buy luxury cars […]
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Uncertainty looms as 2025 nears the halfway mark. How to make sure your portfolio is prepared
Stocks have made a recovered from this year’s lows, but uncertainty remains a key theme as the second half of the year approaches – and investors can prepare for it. President Donald Trump’s rollout of sharply higher tariffs in April sent stocks on a wild ride, with the S & P 500 at one point […]
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House Republican tax bill favors the rich — how much they stand to gain, and why
Key Points A tax and spending package passed Thursday by House Republicans funnels the bulk of its financial benefits to wealthy households, according to economists and tax experts. The rich benefit via a slew of tax cuts tied to businesses, the SALT deduction, the estate tax, income tax rates and opportunity zones. Lower earners would […]
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Watch out for this unexpected tax hit from your municipal bonds
As tax season revs up, investors might be on the hook for reporting – and paying – obligations on their tax-free municipal bonds. Investors are likely gathering the documents they need to file their 2024 tax returns, which are due on April 15. It was a big year for income-generating investments , even as the […]
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Vanguard’s $106 million target-date fund settlement offers a key lesson about taxes
Key Points Vanguard Group settled with the SEC on Friday over allegations tied to its target-date funds and investor taxes. There’s a lesson about “asset location” for investors. This strategy pairs tax-inefficient assets like many bonds and actively managed mutual funds with tax-advantaged account types like 401(k) plans and individual retirement accounts. Source
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Amazon is bringing Intuit QuickBooks software to its millions of third-party sellers
Sasan Goodarzi, president and CEO of Intuit Inc. and Andy Jassy, CEO of Amazon. David Paul Morris | Bloomberg | Getty Images Amazon has for years counted on millions of third-party sellers to provide the bulk of the inventory that consumers buy daily. But keeping track of their finances has long been a challenge for […]
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