The people here are not Hollywood stars or billionaire tech entrepreneurs who might own Ferraris and private jets. But they are well off. The median household income in the area […]
Tax Credits, Deductions and Exemptions
Trending topics and news from the Tax Credits, Deductions and Exemptions category
Back to news homeWhy Do We Make Things So Hard for Renters?
For struggling homeowners in the pandemic’s first year, there was hope early on that these hard times would not put people with mortgages out in the street.Thanks to quick governmental […]
Child Tax Credit Payments Have Begun. Should You Opt Out?
“The advance of the credit reduces the total amount of taxes paid,” said Rob Seltzer, an accountant in Los Angeles. “So there could be a problem with an estimated tax […]
What You Need to Know About the Child Tax Credit
(People with low incomes — under $40,000 a year for unmarried taxpayers and $60,000 for married couples — generally won’t have to repay advance payments if they are ineligible in […]
Plan to Revive I.R.S. ‘Wealth Squad’ Puts the Richest on Notice
Right now, the key for filers is to make sure their tax return tells a consistent story, he said. If that story changes — say, when a lawyer becomes an […]
ProPublica Report Has Congress Rethinking How to Tax Superrich
WASHINGTON — A jaw-dropping report by ProPublica detailing how America’s richest men avoided paying taxes has intensified interest in Congress, even among some Republicans, in changing the tax code to […]
How Long Should It Take to Give Away Millions?
Ms. Madoff and others pushing for change see a growing gap between reputation-burnishing promises of money and distributions to people who need it. The Giving Pledge, which was started by […]
Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax
Lawmakers like Senator Elizabeth Warren, Democrat of Massachusetts, have championed the idea of placing a 2 percent tax on an individual’s net worth above $50 million — including the value […]
Why a $10,000 Tax Deduction Could Hold Up Trillions in Stimulus Funds
“I think it’s a giveaway to the rich,” she told reporters last month. “So, I do not believe in holding the entire infrastructure package hostage for a full repeal and […]
Biden Tax Proposal Keeps Financial Advisers Busy
Mr. Biden has cleared up some issues for the middle class in his proposal. He has recommended an exemption of $1 million on the capital gains of assets transferred to […]