Tax guidelines for influencers on TikTok, Twitch, and other platforms
Quitting your regular job to pursue a career as a full-time fashion influencer on Instagram or a video game streamer on Twitch might sound like something out of a fantasy. However, data from Demand Sage indicates that most content creators take around six and a half months to earn their first dollar. Moreover, a recent […]
Seattle’s new mayor proposes an incredibly bold tax plan.
Concerns About Seattle’s Urban Decline The co-founder of Blaze Media has pointed out that Seattle is grappling with vacant office buildings, businesses leaving the city, and a noticeable decline in urban vitality. A recent proposal, he warns, could exacerbate these existing issues. According to him, nearly one-third of the city’s office spaces are unoccupied, with […]
Three key points to grasp Iowa property tax notices
3 Things to Understand Iowa Property Tax Notices You might have received a property tax notice in the mail last week. This letter is important, but it’s not your actual property tax bill. What it really contains is information about proposed budget increases that could impact your taxes. That’s the key takeaway. This marks the […]
Small businesses, the 75 Hard challenge, tax deductions: A recap of today’s stories
👋 Welcome to 5 Things PM! The 75 Hard Challenge comes with a strict regimen: five tasks each day for seventy-five days, no breaks, no leeway. While this might sound motivating, experts caution that the potential downsides could be significant. Here are some other stories to catch up on during your busy day. American shoppers […]
New estate tax proposal by NYC Mayor Mamdani may affect middle-class families
Debate Over NYC Inheritance Tax Proposal New York City’s Mayor Zoran Mamdani is facing criticism for endorsing a plan to dramatically reduce the city’s inheritance tax exemption—by nearly 90%. Critics argue this change could extend the tax burden to middle-class families, a group previously considered less affected by such taxes. New York already imposes its […]
Expert critiques Newsom’s assertion that Texas and Florida are the ‘real high tax states’: ‘Seriously mistaken’
Experts Challenge Newsom’s Tax Claims Comparing California with Florida and Texas Recently, California Governor Gavin Newsom stated that his state’s tax system is superior to those in Florida and Texas, but experts argue that the data doesn’t support his claims. In a post on X, Newsom highlighted California’s “most progressive tax rate in America” while […]
Increased focus on tax resistance during ICE protests and the Iran conflict, with potential IRS penalties ahead
Chicago Attorney Protests Taxes, Faces Legal Consequences Rachel Cohen, a Chicago attorney, currently owes over $8,000 in federal income taxes and has opted to leave that amount unpaid. In a widely circulated article, she noted, “I paid no federal income taxes this year.” This 31-year-old community organizer filed a federal tax return indicating a balance […]
Looking to take advantage of new tax deductions for tips, overtime, seniors, or car loan interest? Pay attention to the details.
New Tax Breaks and Deductions: What to Know There are new tax breaks being announced, focusing on areas like tips, overtime pay, senior deductions, and even interest on car loans. Many people filing income taxes are anticipating larger refunds or reduced tax liabilities this year. However, while this may hold true for some, others might […]
IRS tax refunds have increased by 10.8%, according to new filing data.
Average Tax Refunds Rise This Season This tax season, the average refund is up by 10.8% compared to the same time last year, based on the latest data from the IRS. As of March 13, individual filers are seeing an average refund of $3,623, which is a jump from $3,271 at the same time last […]
Debate arises over ‘marriage penalty’ in Washington state’s new millionaire tax
Washington State’s Proposed Income Tax Raises Concerns Washington state’s proposed income tax, which includes what tax experts say is the largest “marriage penalty” in the country, could lead to higher taxes for some couples filing jointly. The state House of Representatives has approved this new income tax, which imposes a 9.9% rate on earnings exceeding […]