Wealthy Californian tax could jeopardize capitalism and business job growth
California’s Billionaire Tax Proposal Raises Concerns It’s interesting how California has managed to secure its place as the fifth largest economy in the world. The rise of Silicon Valley didn’t come from government regulation, nor did Hollywood become a storytelling giant due to bureaucratic planning. It was entrepreneurs, innovators, and risk-takers who built California, driven […]
Illinois Experiences 15% Drop in Sports Betting Due to High Tax Impacting Gambling Community
Decline in Sports Betting in Illinois Following Tax Changes Recent data from the Illinois Gaming Commission indicates a significant drop in sports betting activity within the state. After the introduction of a new tax system in September 2024, the first 20 million bets placed by each sportsbook are taxed at $0.25 per bet, with the […]
Chief equity officer criticized liberal white women in deleted social media posts: ‘Tax them to the bone’
Controversy Surrounds Mayor Mamdani’s New Appointees Before taking office, Mayor Mamdani’s newly appointed chief capital officer faced criticism for disparaging remarks about liberal white women made on his now-deleted X account. This comes on the heels of another aide being criticized for extremist statements. Afua Atta-Mensah, the city’s new equity officer, had previously referred to […]
Key tax updates to pay attention to this filing season
The recent passage of the Big Beautiful Act last year means taxpayers should be aware of some significant changes as the tax filing season gets closer. When it comes to state and local taxes, there’s a cap on what you can pay depending on your adjusted gross income. A notable point for servers is President […]
New $6,000 tax break for seniors presents a wonderful chance, says CPA: Tips for maximizing its benefits
New Tax Changes for Seniors in 2026 The upcoming changes to taxes in 2026 offer fresh opportunities for individuals aged 65 and older to manage their finances more effectively. A significant aspect of this is the newly introduced temporary senior “bonus,” which allows eligible individuals to deduct up to $6,000. This was part of the […]
Rep. Craig Goldman Proposes ‘Don’t Tax the American Dream Act’ to Eliminate Capital Gains Restrictions on Primary Home Sales
Congressman Proposes Bill to Eliminate Capital Gains Tax on Home Sales Congressman Craig Goldman (R-Texas) has introduced the “Don’t Tax the American Dream Act,” aimed at removing the federal capital gains tax on the sale of a primary residence for homeowners who have lived in their property for at least two years. The proposed legislation […]
Republican candidate for governor suggests a ‘sin tax’ on OnlyFans in Florida
Florida Gubernatorial Candidate Proposes Tax on OnlyFans Creators A Republican hopeful for the Florida governor’s seat has suggested a substantial “sin tax” on OnlyFans creators if he wins the election. James Fishback expressed his views in a recent statement, stating that it’s troubling how young women are being influenced by platforms like OnlyFans. “Young women […]
Older adults receive a new tax deduction of up to $6,000 for the 2025 tax filing period.
IRS Introduces New Tax Benefits for Seniors The upcoming tax season is set to bring several changes that will impact older Americans, starting when they file their returns next year. The IRS will allow individuals to begin submitting tax returns on January 26 for the 2025 tax year. Notably, a recent legislation known as the […]
Valencia County residents are dealing with persistent mistakes in property tax bills.
Valencia County residents are still grappling with incorrect property tax bills, which has led to a wave of frustration and confusion, despite the county’s attempts to rectify previous errors. Albert Chavez, a Los Lunas homeowner for over 20 years, found himself taken aback by a sudden and inaccurate increase in his property taxes last November. […]
Millions of workers are now facing a 60% income tax.
Over the next decade, it’s predicted that more than 3 million workers will find themselves in the 60% income tax bracket. Some jobs at risk of crossing the six-figure mark include train drivers, who may earn over £100,000 within the next 12 years. Additionally, police chiefs and teachers could find themselves in a similar situation […]