Unexpected new taxes in Washington state leave business owners puzzled
Major Tax Package Shocks Washington Employers Businesses in Washington state are reacting with disbelief to a recently enacted $12 billion tax package that affects a wide array of services, spanning everything from art classes to necessary licensing. As part of this significant tax and fee framework, signed by Governor Ferguson in May, it’s reported to […]
Assembly Speaker Carl Heastie pledges support for Zohran Mamdani in increasing taxes on the wealthy
A wealthy individual from New York is setting his sights on launching a Healthy Retreat. State Assembly Speaker Karl Heaty has committed to advocating for increased taxes on billionaires in New York City, officially backing Zoran Mamdani, the socialist mayoral candidate, this past Wednesday. A prominent Democrat from the Bronx, when probed about his influence […]
Large NYC strip club organization offered lap dances to a state auditor to evade $8 million in taxes, according to the Attorney General.
Strip Club Group Accused of Bribing Auditors A significant strip club organization stands accused of bribing state auditors, allegedly to dodge over $8 million in sales tax owed to New York City over a span of 14 years. Prosecutors unveiled these charges on Tuesday. The New York Attorney General’s office has filed 79 criminal charges […]
What will be the increase in your taxes? St. Paul, Ramsey County, and SPPS are requesting raises.
Homeowners in some of St. Paul’s most economically challenged neighborhoods could see an increase in property taxes ranging from 8% to 16% next year. This rise will depend on the final figures approved in December by the city, county, and school district. In addition to a projected $125 increase in water, sewer, and recycling fees, […]
Liz Weston: It has been 30 years since the rules for taxes and capital gains were updated. Some individuals are still unclear.
Understanding Tax Rules on Home Sales Dear Liz: I thought I had a grasp on the tax implications of selling a home, but now I’m feeling a bit lost. Previously, there were rules allowing profits from home sales to be rolled into the purchase of another home, with a one-time exemption for up to $500,000. […]
Minnesota’s largest newspaper will transfer its printing operations to a nearby state with lower taxes.
Star Tribune Shifts Printing Operations to Iowa The Minnesota Star Tribune has announced the closure of its printing facility in Minneapolis, with plans to move production to Iowa by the end of the year. This decision marks the end of 158 years of newspaper printing in Minnesota, affecting around 125 employees, as confirmed in reports. […]
Barclays CEO claims that increasing bank taxes in the UK is based on simplistic and incorrect reasoning.
Barclays CEO Warns of Job Cuts Amid Tax Increases CS Venkatakrishnan, the CEO of Barclays, has spoken out against the proposed tax increases on UK banks, stating that such measures could lead to job losses and a reduction in lending within the UK economy. He described the rationale behind the proposal as “easy and false […]
Trump administration eases corporate taxes after exiting global agreement
Earlier this summer, the Trump administration effectively distanced the U.S. from global minimum business tax agreements by entering into contracts with a group of seven major economies. This move allows the U.S. to maintain its corporate minimum taxes without directly conforming to international guidelines. This decision led to the establishment of a “side-by-side” system for […]
Why relocating overseas to avoid taxes might not be a good choice
Unexpected Surplus from the DWP: A Personal Tale When I called from Portugal last week, it wasn’t about the pleasantly warm weather—though that was a nice touch. I was reaching out to share a surprising twist: my uncle had discovered nearly £7,000 unexpectedly sitting in his account from the Ministry of Labor and Pensions (DWP). […]
Athletes and entertainers face the weight of jock taxes beyond just Swift and Kelce.
What do Taylor Swift and Travis Kelce have in common? Well, they’re both navigating the tricky world of state income taxes, especially when it comes to the so-called “jock tax.” This term refers to the regulations that compel professional athletes and entertainers to file tax returns in every state where they perform, even if they’re […]