States with high taxes like New York and California are losing billions as Florida and others benefit from large population shifts.
Florida’s Growth Amid Migration Trends Florida is seeing a significant influx of residents, translating to a gain of $20.6 billion in annual adjusted gross income from 2022 to 2023. In contrast, states like New York and California, which have high tax rates, are still experiencing substantial losses even after the pandemic. California faced the largest […]
Somalia’s Upcoming Civil Conflict Could Be Funded By Your Taxes
Somalia’s military, once trained and funded by the U.S., has recently shifted focus to targeting civilians and civil servants, which officials claim is causing a constitutional crisis. President Hassan Sheikh Mohamud appears to be leading an effort to unconstitutionally alter the country’s voting system, with reported intentions to extend his term by another year, as […]
As a CPA, Here Are 4 Important Things Seniors Should Review for Their Estate Taxes
Changes to inheritance tax rules are particularly important for seniors. A new federal deduction will significantly reduce the number of households that will need to pay inheritance tax. But, that doesn’t mean you can just forget about it. Chad Cummings, a CPA and attorney, shared some crucial insights for seniors regarding inheritance tax. Here are […]
I’m a CPA: 5 Major Errors Senior Clients Make With Their Estate Taxes
Commitment to readers Aging, as we know, brings with it a lot of financial changes, particularly around estate planning and ensuring that one’s assets are passed on to the right beneficiaries. It’s crucial to establish an inheritance tax strategy that minimizes tax liabilities and optimizes what you stand to inherit. Yet, many people don’t quite […]
Chicago increases hotel taxes to finance tourism marketing efforts for Choose Chicago
Chicago Increases Hotel Taxes Amid Tourism Push Just when things in Chicago seemed like they couldn’t get any more bizarre, a new development has surfaced. The city is set to raise hotel taxes in an effort to boost tourism. Ordinance 2026-0022544 aims to take hotel taxes from 17.5% to 19%, with the extra funds directed […]
All paths point to taxes at Leisure World Democratic Club executive forum
Montgomery County Executive Candidate Forum Highlights Tax Discussions During the Montgomery County Executive Candidate Forum, held Thursday night at Leisure World Community in Silver Spring, the conversation circled back to tax rates repeatedly. This forum was the first since County Executive Mark Elrich (D) revealed an $8 billion operating budget for fiscal year 2027. Elrich […]
Iran Is Thinking About Charging Tolls and Taxes for Shipping in the Strait of Hormuz
Iran Considers Toll Plan for Ships in the Strait of Hormuz Somayeh Rafiei, a member of Iran’s Parliament, shared with the Iranian Student News Agency (ISNA) on Thursday that some lawmakers are weighing a proposal to impose tolls on vessels navigating the Strait of Hormuz. This comes amid Iran’s ongoing, aggressive actions against international shipping […]
Steps to take advantage of the new car loan interest deduction for your 2025 taxes
Ed Yardeni, president of Yardeni Research, discusses the future of tax refunds and the concept of “making money.” This tax season, a new tax reduction is available for individuals taking out auto loans on specific vehicles. Last year, Republicans pushed the One Big Beautiful Bill Act (OBBBA) through Congress using the reconciliation process, and the […]
Republican senator proposes to reduce California’s high gas taxes
Republican Senator Tony Strickland from California has put forth an urgent proposal aimed at significantly reducing gas taxes, claiming it could save drivers over $1 per gallon. Surprisingly, some Democrats have also shown support. Strickland’s bill suggests that by temporarily suspending four different taxes and fees—including those linked to California’s green energy initiatives—drivers could save […]
The biggest retirement error that could lead to costly unnecessary taxes
Retirement Planning Mistakes to Avoid Experts warn that a major pitfall in retirement planning is affecting many Americans, leading to substantial overpayments annually. Tyson and Ryan Tucker from BOSS Retirement Solutions have helped over 50,000 families navigate their retirement plans and they highlight this issue regularly. Ryan points out that it’s a topic that’s often […]