CT’s 25 biggest tax offenders owe $185M, including individuals, a hospital, and the estate of a Patriots star.
Connecticut’s Tax Issues Amid Surpluses Connecticut has seen significant budget surpluses recently, yet a troubling number of tax evaders owe the state millions in back taxes. As of July 10, the top 25 offenders alone are responsible for $185 million across various tax categories, including individual, business, sales, and hospital taxes. Overall, the state tax […]
Citizens Who Lost Their Citizenship Must Leave and Face Exit Tax
Revoking Citizenship: Tax Implications for Naturalized Americans The ongoing discussion about American immigration is starting to highlight some lesser-known issues, particularly how it intersects with residency tax regulations. There’s a lot to unpack here, especially regarding how these rules could affect those citizens who have lost their naturalization status. If residency rules apply to these […]
Yusuf Salaam has a six-figure tax debt, even with his speaking engagements.
City Councilman Yousef Salaam’s Tax Troubles City Councilman Yousef Salaam, one of the exonerated members of the Central Park Five, has accumulated a significant amount of unpaid federal taxes, reportedly in the hundreds of thousands. This comes as a surprise considering his substantial earnings from speaking engagements, as revealed by recent information. His 2024 financial […]
Average property tax reaches $3,500 with 73% of US homeowners experiencing hikes
Property Taxes and Homeownership Challenges Property tax stands out as a significant ongoing expense for homeowners. These taxes are essential for funding local government services, including infrastructure, education, and more crucial systems. The calculation of these fees is typically based on a home’s value and its location, though they may fluctuate yearly due to local […]
Trump’s new law boosts child care tax credits. Find out the amount and who will gain.
In the summer of 2024, Sarah Foster, 35, made the tough decision to leave her job. Balancing the demands of full-time work and parenting was stressful, especially with a toddler at home. She often found herself planning around the unpredictable moments when her nanny might become unavailable. Foster and her husband, who works as a […]
Ways to Utilize Clean Energy Tax Credits Before They Are Gone
This story discusses the significant changes in clean energy tax credits, particularly in light of new legislation signed by President Donald Trump. The focus here is on how these changes might affect climate policy and taxpayers alike. The recent legislation has led to a rollback of essential aspects of the 2022 Inflation Reduction Act (IRA), […]
New federal tax relief for tips and overtime is now active, affecting millions.
Changes in Overtime Pay and Tips for Workers COLOMBUS, Ohio – Many workers across the U.S. are reaping the rewards of a new budget bill under President Donald Trump, which is currently in effect, impacting taxes on tips and overtime regulations. Kelley Metzger, a server with a decade of experience at the Nutcracker family restaurant […]
Trump’s short-term tax cuts: 5 significant provisions that might not last long
Upcoming Tax Changes for Americans Many Americans are set to experience significant alterations in their tax responsibilities due to President Donald Trump’s new legislation. This initiative, dubbed the “Big Beautiful Bill,” introduces several notable tax credits that include changes to federal income taxes, such as the ability to deduct interest on car loans, an increased […]
Trump’s significant bill might impose a 45.5% ‘SALT hit’ on high earners, according to a tax expert.
Salt Caucus Press Conference on Tax Deductions On Wednesday, February 8, 2023, President Josh Gottimer of New Jersey is set to speak at a press conference regarding the Salt Caucus, outside the Capitol Building in Washington, D.C. President Trump’s “big beautiful bill” implements a temporary cap on the federal deductions available for state and local […]
Trump warns of a 35% tax on Canadian goods due to the fentanyl crisis
Trade Tensions Between U.S. and Canada The discussion on “The Big Money Show” recently highlighted Canada’s ongoing trade situation as the White House prepares to resume negotiations with the country. Back in August, President Trump proposed introducing a hefty 35% tariff on goods from Canada. His rationale? He accused Canada of not doing enough to […]