Taxes

How important was the 2017 Tax Cuts and Jobs Act’s (TCJA’s) cap on the state and local tax (SALT) deduction in the 2018 congressional elections? In 2016, Democrats represented 28 of the 50 congressional districts with the greatest percentage of individual income tax filers claiming the SALT deduction.  In the 2018 election, Democrats picked up
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Many stock mutual funds can quietly rob unsuspecting investors by creating unnecessary taxes. This primarily occurs when mutual funds are held outside a tax-favored work retirement plan, individual retirement account or Roth IRA. To help understand why this occurs, it is important to first learn about how stocks that are not owned within a mutual
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Share to facebook Share to twitter Share to linkedin Lawsuits are pending in a host of federal courts. Getty Images Topline: With Democrats pursuing multiple investigations into the president’s elusive finances, ongoing court battles over the release of Trump’s tax returns are heating up. Here’s a running list of where the various lawsuits stand: New
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“Don’t go in there,” a high school junior told my freshman daughter on the first day of school. She pointed to a bathroom door. “That’s where the kids do drugs.”  My daughter translated when she got home that day. “It’s where kids vape, Mom,” she explained. “In class teachers told us ‘vaping isn’t allowed,’ and
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Where are we to turn for high, safe dividends these days? Certainly not 10-Year Treasuries, unless you think you can scrape by on their 1.7% yields. I’ll save you the calculation: you can’t, because that yield matches the inflation rate to the decimal point. Your “true” income? $0. The S&P 500 isn’t much better: for
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The government will remain open through November 21. President Trump signed the stopgap measure last week. The eight-week extension gives Congress time to reach a broader spending deal. Or, depending on the fate of Trump’s demands for more border wall funding, it will leave time to agree on another short-term extension. On Trump’s taxes… Deutsche
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Senator Elizabeth Warren. BlueMountain Capital Management, H.I.G. Capital, American Securities, Apax Partners, and Platinum Equity received a letter from Senator Elizabeth Warren (D-MA) and Representatives Mark Pocan (D-WI), and Alexandria Ocasio-Cortez (D-NY) asking them to provide disclosure documents and information required in Sections 501 and 503 of the Stop Wall Street Looting Act. Additionally, the
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Democratic presidential candidate Sen. Bernie Sanders (I-VT) addresses an audience on the campus of… [+] the University of Chapel Hill during a campaign rally on September 19, 2019 in Chapel Hill, North Carolina. Sanders spoke to college students about working people’s rights, including fair wages and health care. (Photo by Sara D. Davis/Getty Images) Getty
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The California Legislature has moved to prohibit local governments from offering certain sales tax incentives to promote economic development and attract businesses, such as e-commerce giant Amazon. Gov. Gavin Newsom has yet to decide whether to sign the bill, SB 531. Critics have long argued that such tax incentives shuffle economic activity from one neighboring
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