California billionaire tax plan may lead to unintended consequences, warns Washington Post
The Washington Post Editorial Board has issued a warning to California regarding its proposed aggressive tax increases aimed at the ultra-wealthy, suggesting such measures could have unintended consequences, potentially driving billionaires out of the state. In a recent editorial titled “California Will Be Lonely Without Its Billionaires,” the board expressed concerns about the economic repercussions […]
Examining Trump’s economic policies: from trade conflicts to tax regulations
From significant tax reductions and bold trade strategies to volatile market fluctuations and resurfaced inflation worries, the return of Donald Trump to the White House has been marked by economic choices that transformed the U.S. economy and impacted international markets. In his initial year as president, Trump acted swiftly to implement his policy agenda, revitalizing […]
Phil Mickelson criticizes claimed fraud in California and is against new tax policies in the state.
Phil Mickelson Addresses Fraud Concerns in California Golf icon Phil Mickelson has shared his views on the alleged fraud occurring in his home state of California through a series of social media updates. During a New Year’s Eve event, former President Donald Trump remarked that the fraud problems in California, New York, and Illinois surpass […]
New rules for tax incentives on American-made vehicles: Key information to consider
New IRS Rules for Car Loan Interest Deduction WASHINGTON — This week, the Internal Revenue Service introduced fresh guidelines for a tax break that enables you to deduct up to $10,000 in interest on auto loans when purchasing a car made in the U.S. This update means you might be able to lower your tax […]
Calls to tax the wealthy while Bernie Sanders officiates for NYC Mayor Zohran Mamdani
Bernie Sanders Swears in Zoran Mamdani as NYC Mayor Amid Calls for Change Vermont Senator Bernie Sanders criticized the wealthy and voiced concerns over “hatred and division,” leading to a spirited chant of “tax the rich” before officially swearing in Zoran Mamdani, a fellow Democratic Socialist, as the mayor of New York City. Speaking outside […]
Purchased or sold a home in 2025? Here’s what you need to understand for tax season.
January 1, 2026, 12:40 PM ET Did you sell or buy a home in 2025? There’s quite a bit to think about, especially for first-time buyers or sellers. With numerous tax law changes and financial considerations throughout the year, even those who’ve done this before might find themselves needing a little refresher. So, whether you’re […]
New cars manufactured in the USA are eligible for Trump tax benefit, according to the IRS.
January 1, 2026, 9:11 a.m. ET Taxpayers purchasing a new vehicle in 2025 might qualify for significant tax breaks next filing season, provided the vehicle is produced in the United States, according to the Internal Revenue Service. Those interested should check their vehicle information labels (VINs) to see if their 2025 purchases are eligible for […]
Student loan forgiveness is taxable once more: Begin preparing for the ‘tax bomb,’ CFP advises.
Potential Tax Implications for Student Loan Forgiveness Post-2026 Borrowers who have their student loans canceled after 2026 may encounter significant tax liabilities. The tax protection on student loan forgiveness provided by the American Rescue Plan Act of 2021 is set to expire on December 31, 2025. Notably, this provision was not extended or made permanent […]
New tax on contraceptives in China starts due to worries over a significant population decrease
China’s Tax Changes on Contraceptives and Childcare Services Starting January 1, China will impose a 13% value-added tax on contraceptives while exempting childcare services. Officials claim this initiative is part of a larger strategy to increase birth rates as the nation grapples with a declining population. These tax reforms will end exemptions that have been […]
Mamdani and Hochul are urged to back a payroll tax to finance universal child care, according to a progressive think tank.
New Year, New Taxes? State employees in New York are set to face higher taxes as funding for a large universal child care initiative is on the horizon, championed by the newly elected Mayor Zoran Mamdani and Governor Kathy Hochul. A recent study indicates a substantial fiscal challenge ahead. The Fiscal Policy Institute, a progressive […]