Category: Taxation

Why Haven’t Trump’s Tariffs Had a Bigger Impact?

Steep import taxes have raised prices and affected U.S. businesses, but not quite as much as expected. A new report offers some reasons.
A Wealth Tax Floated in California Has Billionaires Thinking of Leaving

It’s uncertain whether the proposal will reach the statewide ballot in November, but some billionaires like Peter Thiel and Larry Page may be unwilling to take the risk.
Trump Has a New Auto Loan Tax Break. Here’s Who Could Benefit.

Many Americans can take advantage of President Trump’s deduction on auto loan interest, but the tax break will provide only modest savings.
U.S. Threatens Penalties Against European Tech Firms Amid Regulatory Fight

The Trump administration singled out European tech firms by name and promised economic consequences Tuesday unless the E.U. rolls back tech regulation and lawsuits.
Businesses Are Cashing In on Trump’s Tax Cuts

Corporate tax revenue has quickly dipped since Republicans passed tax cuts this summer. But economists think these tax breaks might be worth it.
Should You Donate to Charity This Year or Wait? It Depends.

Changes in the tax law will have different effects on people who take the standard deduction versus high earners who itemize.
Social Security at 70? Why the Gold Standard Advice Works for Only a Few

The standard advice is to hold off, but most retirees claim the benefit as soon as they can, at age 62. Here’s what to know when you’re planning the unplannable.
States Are Raking In Billions From Slot Machines on Your Phone

Online casinos have proved to be a much stronger source of tax revenue than sports betting apps. They may be coming to a state near you.
For ‘No Tax on Tips,’ the I.R.S. Gets Intimate

The Trump administration wants to exclude earnings from “pornographic activity” from a new tax break for tips. Will the I.R.S. know it when it sees it?
U.K. Budget Plan Calms Markets and Labour Faithful. Will It Appeal to Voters?

The plan presented by the chancellor of the Exchequer, Rachel Reeves, called for spending increases and higher taxes on the wealthy and the middle class.
A Major Moment for the British Economy: What to Watch in the U.K. Budget

Rachel Reeves, the top economic official in an increasingly unpopular government, will appear in Parliament to present tax and spending plans.
Britain’s Most Unpopular Chancellor in Decades Faces Another Big Test

Rachel Reeves, who has had a bruising tenure as the country’s top economic official, is set to announce tax and spending measures that risk stoking more discontent.