Taxes
Wealthy Americans are still ducking the IRS crackdown on non-filers
WASHINGTON — Tens of thousands of wealthy Americans are not complying with recently revamped Internal Revenue Service efforts to get them to file tax returns, according to data obtained exclusively by CNBC. A quirk in federal tax law may be incentivizing wealthy people who want to avoid paying taxes to simply not file their returns. […]
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Citadel’s Ken Griffin says Trump’s tariffs could lead to crony capitalism
Ken Griffin, chief executive officer and founder of Citadel Advisors LLC, speaks during an Economic Club of New York event in New York, US, on Thursday, Nov. 21, 2024. Yuki Iwamura | Bloomberg | Getty Images Citadel CEO Ken Griffin issued a warning against the steep tariffs President-elect Donald Trump vowed to implement, saying crony […]
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How to protect your portfolio against risks tied to President-elect Trump’s tariff agenda
Money manager John Davi is positioning for challenges tied to President-elect Donald Trump’s tariff agenda. Davi said he worries the new administration’s policies could be “very inflationary,” so he thinks it is important to choose investments carefully. “Small-cap industrials make more sense than large-cap industrials,” the Astoria Portfolio Advisors CEO told CNBC’s “ETF Edge” this […]
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‘Everyone is calling’: Trump’s tariff threats send U.S. companies scrambling for lobbyists and loopholes
In the days since President-elect Donald Trump won the presidential race, Nicole Bivens Collinson’s phone has barely stopped ringing. Collinson, who helps lead the international trade and government relations division at the lobbying firm Sandler, Travis & Rosenberg, said she is fielding “dozens and dozens and dozens” of calls from anxious U.S. companies looking to […]
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The next U.S. president could face a tax battle in 2025 — here’s what it means for investors
This combination of pictures created on October 25, 2024 shows US Vice-President and Democratic Presidential candidate Kamala Harris in Houston, Texas on October 25, 2024 and former US President Republican presidential candidate Donald Trump in East Del Valle, Austin, Texas on October 25, 2024. Getty Images As millions of Americans cast ballots on election day, […]
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Elon Musk is on track to become a trillionaire by 2027. Here’s why the rich keep getting richer
Elon Musk is on track to become the world’s first trillionaire by 2027, according to a recent report from Informa Connect Academy. Of the world’s billionaires, Musk is the closest to that 13-figure mark, and his wealth is growing. At the start of 2020, Musk was worth about $28.5 billion, according to the Bloomberg Billionaires […]
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Online retailer Shein to hold roadshows soon ahead of London IPO, Reuters reports
The logo of fast fashion e-commerce company Shein outside its office in Guangzhou in southern China’s Guangdong province. Jade Gao | Afp | Getty Images Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering, three sources with knowledge of the matter said, pushing ahead with preparations […]
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Philippines levies 12% VAT tax on digital services by Amazon, Netflix and Disney
Chesnot | Getty Images News | Getty Images The Philippines will impose a 12% value-added tax on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move that will level the playing field with domestic brick and mortar players, the internal revenue agency said on Thursday. President Ferdinand Marcos Jr signed into law on Wednesday the imposition of VAT on non-resident digital service providers […]
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Trump threatens ‘200% tariff’ if John Deere moves production to Mexico
Republican presidential nominee former President Donald Trump speaks at a campaign event at a farm, Monday, Sept. 23, 2024, in Smithton, Pennsylvania. Alex Brandon | AP Former President Donald Trump on Monday threatened John Deere with a 200% tariff if the agricultural manufacturer moves production to factories in Mexico. “They’ve announced a few days ago […]
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Ireland now needs to decide what it will do with 13 billion euros in back taxes from Apple
Shoppers on Wicklow Street in Dublin, Ireland, on Thursday, March 28, 2024. Bloomberg | Bloomberg | Getty Images A landmark ruling from the European Union’s top court means Ireland will receive 13 billion euros ($14.4 billion) in unpaid taxes from Apple — a windfall that Dublin had spent several years fighting to avoid. It leaves […]
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