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Keyword: taxes

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  • IRS warns taxpayers about new $600 threshold for third-party payment reporting

    11/26/2022 2:32:48 PM PST · by TigerClaws · 152 replies
    The IRS on Tuesday shared tips for the upcoming tax season — including a reminder about the new $600 threshold for receiving Form 1099-K for third-party payments. The change applies to payments from third-party networks, such as Venmo or PayPal, for transactions such as part-time work, side jobs or selling goods, according to the IRS. Before 2022, the federal Form 1099-K reporting threshold was for taxpayers with more than 200 transactions worth an aggregate above $20,000. However, Congress slashed the limit as part of the American Rescue Plan Act of 2021, and a single transaction over $600 may now trigger...
  • Paul Ryan’s Anti-Trump Agenda: New Taxes, More Migrants, Spending Cuts

    11/26/2022 2:58:09 PM PST · by ChicagoConservative27 · 77 replies
    Breitbart ^ | 11/26/2022 | Neil Munro
    Former GOP House Speaker Paul Ryan is offering two reasons why GOP voters should walk away from President Donald Trump’s 2024 presidential primary campaign. “We want to win,” the establishment champion told ABC News’ This Week on November 20. Trump “is going to continue to lose altitude” in primary polls because “he’s unelectable because [of] that suburban voter.”
  • What Happens to $100 of Earned Income In The 22% Tax Bracket (net > 40k)

    11/26/2022 1:44:44 PM PST · by amorphous · 13 replies
    Twitter | 26 November, 2022 | me
    Left to right (bottom scale) represents number of taxable transactions between individuals in the 22% tax bracket.
  • President Trump: “We Have To Defeat The Climate Hoaxsters!”

    11/24/2022 2:04:33 PM PST · by SoConPubbie · 44 replies
    WeLoveTrump.com ^ | 11/23/2022
    President Trump is taking “woke” head on.And peak woke is the climate hoax, which is really just another way to extort money from the American people.This is one of his best clips, watch here:President Trump: "we have to defeat the climate hoaxsters!" pic.twitter.com/6ElugFGpY5— DailyNoah.com (@DailyNoahNews) November 23, 2022He’s 100% right!Always fighting for America.The scam has been exposed:No human experiences 'climate change' in a lifetime, only seeing 'seasonal' weather. Climate change takes hundreds, thousands or tens of thousands of years. These forces are not short-term – for example, it takes a thousand years to lay down 1cm of sedimentary rock. It's...
  • Why the 20 Percent Tip Could Be on the Endangered List

    11/22/2022 2:04:30 PM PST · by nickcarraway · 74 replies
    New York Post ^ | November 21, 2022 | Jeanette Settembre
    Inflation might be turning Americans into grinches this holiday season, new data suggests. In a survey of 1,000 consumers and 165 restaurant owners and operators across the US this month, just 43% of consumers are now tipping their servers 20% or more, a significant decline from 56% of customers last year. That’s according to a recent survey from restaurant technology company Popmenu, first reported by MarketWatch. A separate survey from PlayUSA, an online gambling site, polled 1,006 people and found 17% of Americans are tipping less because of rising costs, while 60% of Americans said they wanted to ditch tipping...
  • Supreme Court allows release of Trump's tax records to House Democrats

    11/22/2022 11:51:49 AM PST · by Oldeconomybuyer · 84 replies
    NBC News / Comcast ^ | November 22, 2022 | By Lawrence Hurley
    WASHINGTON — The Supreme Court on Tuesday rejected former President Donald Trump's last-ditch plea to block the release of his tax records to House Democrats, paving the way for their possible disclosure to the lawmakers. The decision by the court in a brief order noting no dissenting votes means the committee can try to access the documents ahead of the Republican take-over of the House in January. The committee, however, has not said how quickly it expects to get the documents. Upon taking control, Republicans are expected to withdraw the request. Earlier this month, Chief Justice John Roberts temporarily blocked...
  • ‘Stealth workers’ lying to their bosses about where they work are costing companies tons of money

    11/22/2022 2:12:34 AM PST · by EBH · 43 replies
    Fortune ^ | 11/22/22 | Chloe Berger
    Some remote workers are playing hooky from their company’s homebase these days, and bosses are catching on. The pandemic challenged the idea that the office was an important fixture of the workplace as people working from home were found to be just as productive. Some relished their newfound freedom away from their desks, giving rise to a growing crop of digital nomads life who worked from alternative living situations like a van on the road or from Airbnbs in countries offering digital nomad visas like Portugal. But such flexibility has been curtailed as companies increasingly push for a return to...
  • Putin signs decree setting excise tax on sugary soft drinks from July 2023

    11/21/2022 5:39:19 PM PST · by Nextrush · 20 replies
    TASS Russia ^ | 11/21/2022 | TASS
    The excise will not apply to fermented beverages, kvass with ethyl alcohol content from 0.5% to 1.2% inclusive, juices, fruit nectars, juice-containing beverages and fresh fruit drinks MOSCOW, November 21./TASS/.Russian President Vladimir Putin signed a law recognizing sugary drinks as excisable items starting July 1, 2023. The published document was initiated by the government, it amends the Russian Tax Code. The excise rate is set a 7 rubles ($0.12) per liter. Non-alcoholic beverages produced with the use of sugar or other or other sweeteners containing more than 5 grams per 100 ml are recognized as sugary drinks...
  • UK Voters Now Link High Taxes With Right Wing Rather than Left Wing, Polls Find

    11/19/2022 7:52:01 AM PST · by ChicagoConservative27 · 25 replies
    Breitbart ^ | 11/19/2022 | Oliver JJ. Lane
    The Conservative (Tory) Party appears to have surrendered the one true vote-winning card they have always held up their sleeve, the ability to sell British voters the idea they will cut their taxes, with polling clearly showing the Tories are now clearly thought of as the high tax party. Voters, asked by a pollster which political party out of the United Kingdom’s two establishment legacy parties they more associated with high taxation, opted in a considerable plurality for the Conservative Party, it is claimed.
  • UK--End of the electric car gravy train: Owners will pay £165 a year in road tax from April 2025 and models that cost over £40k face an added 'Tesla tax' of £355 a year

    11/17/2022 8:57:20 AM PST · by dennisw · 55 replies
    MAILONLINE ^ | 17 November 2022 | ELLY BLAKE
    End of the electric car gravy train: Owners will pay £165 a year in road tax from April 2025 and models that cost over £40k face an added 'Tesla tax' of £355 a year Electric vehicles no longer exempt from Vehicle Excise Duty from April 2025 EVs registered after April 1, 2017 will pay a standard annual rate of £165 Decision made to 'make our motoring tax system fairer', All electric car drivers will pay £165-a-year in tax from April 2025 as Jeremy Hunt announced an end to tax exemptions for greener vehicles in his Autumn Budget As part of...
  • UK's Hunt says he has to raise taxes to fix economy

    11/12/2022 2:22:31 PM PST · by Oldeconomybuyer · 25 replies
    Reuters via MSN ^ | November 12, 2022 | By William Schomberg
    LONDON, Nov 12 (Reuters) - British finance minister Jeremy Hunt said he will have to raise taxes in next week's budget plan in order to fix the public finances and soften a potentially long recession, a newspaper quoted him as saying on Saturday. Hunt is trying to restore Britain's credibility among investors in the first budget plan since Rishi Sunak replaced Liz Truss as prime minister last month with a vow to undo her economic policy mistakes, chiefly a series of unfunded tax cuts. "This is going to be a big moment of choice for the country and we will...
  • LA Turns To A “Mansion Tax” To Try And Solve Its Homelessness Problem

    11/11/2022 9:12:29 PM PST · by SeekAndFind · 20 replies
    Nation and State ^ | 11/11/2022 | Tyler Durden
    Believe it or not, California thinks it has a solution to the homelessness problem that can be solved with additional taxation! Go figure.A new measure in Los Angeles, called Measure ULA, is set to generate $900 million in taxes that will then be used for housing subsidies and tenant protections. The tax is essentially a levy on all property sales of more than $5 million, according to Bloomberg.This "mansion tax", if it passes, will look to "speed new construction and deliver a way out of the city’s spiraling homelessness crisis", according to Bloomberg. It could generate some $900 million per...
  • Biden should not repeat Jimmy Carter’s windfall profits tax mistake

    11/10/2022 10:59:48 AM PST · by ChicagoConservative27 · 8 replies
    The Hill ^ | 11/10/2022 | SCOTT A. HODGE
    President Biden recently went on TV to denounce the “outrageous profits” of the major oil companies and declare that he would push Congress to enact a tax on their excess profits. But “excess profits” are in the eye of the beholder, and oil companies have always been the target of political scrutiny any time they report large profits or the price of gasoline rises. It is still surprising that Biden would embrace a so-called “windfall profits tax” on oil companies when it proved to be an utter failure the last time it was tried under President Jimmy Carter. It would...
  • Granholm on Past Windfall Taxes Increasing Prices: We Prefer We Don’t Have to Impose One and It Won’t Hurt Production

    11/03/2022 6:52:55 PM PDT · by ChicagoConservative27 · 5 replies
    Breitbart ^ | 11/03/2022 | Ian hatchett
    On Thursday’s broadcast of CNBC’s “Closing Bell,” Energy Secretary Jennifer Granholm responded to a question on historical evidence from Europe and the U.S. that a windfall profits tax like the one floated by President Joe Biden would hurt production by stating that the “preference” is that companies lower prices or increase production without a windfall profits tax being imposed and that if a tax is implemented it would be designed to encourage more production. Host Sara Eisen asked, “I guess what I’m wondering, though, is the windfall tax the way to do that? Haven’t we seen evidence in Europe and...
  • Biden’s Latest Energy Deflection: Raise Taxes

    11/01/2022 10:48:42 AM PDT · by george76 · 14 replies
    Power the future ^ | NOVEMBER 1, 2022
    Joe Biden and his administration’s extreme energy policies have predictably resulted in sky-high costs for American families. Biden has become increasingly desperate to shift blame and he is reportedly considering a new plan: raise energy taxes. ... Biden’s solution for high prices is raise taxes on energy producers, who will then pass that cost onto American consumers. Higher taxes do not bring prices down. Daniel Turner, our founder, and executive director was quick to blast the president’s plan. “Out of time and answers, the Biden Administration is trotting out another policy straight out of the 1970s in a transparent attempt...
  • 12 States That Don’t Tax Social Security or 401(k)/IRA Retirement Income

    10/31/2022 8:12:16 PM PDT · by SeekAndFind · 38 replies
    Daily Trade Alert ^ | 10/31/2022 | Keith Speights, The Motley Fool
    Ben Franklin once said that “nothing is certain except death and taxes.” But for retirees in part of the U.S., his observation doesn’t hold up — at least with respect to income taxes at the state level.The major sources of income for many retirees include Social Security, 401(k) plans, and Individual Retirement Accounts (IRAs). In most states, at least part of this income is taxed. However, here are 12 states that don’t tax these types of retirement income.States with no income tax at all Let’s start with the states that don’t tax retirement income or any other type of income....
  • AP source: Biden to float windfall tax on energy producers

    10/31/2022 10:12:11 AM PDT · by SeekAndFind · 100 replies
    Associated Press ^ | 10/31/2023 | ZEKE MILLER and SEUNG MIN KIM
    President Joe Biden on Monday will raise the possibility of imposing a ‘windfall tax’ on energy companies, as his administration aims to combat high gas prices just days before the midterm elections. The White House said Biden will deliver remarks to respond ”to reports over recent days of major oil companies making record-setting profits even as they refuse to help lower prices at the pump for the American people." A person familiar with the matter said Biden will float imposing a tax on the profits of energy companies, as he seeks to pressure them to lower prices for consumers. The...
  • Trump Org ‘cheated’ on taxes for 15 years, prosecutors say at NYC trial

    10/31/2022 11:00:27 AM PDT · by ChicagoConservative27 · 52 replies
    NY Post ^ | 10/31/2022 | Elizabeth Rosner and Emily Crane
    The Trump Organization cheated tax authorities for 15 years by bankrolling big perks for top executives — including apartments and luxury cars, Manhattan prosecutors said as the real estate company’s criminal trial got underway Monday. Former President Donald Trump’s firm used the perks to pay its executives — without reporting those benefits — as part of an alleged scheme to avoid paying taxes between at least 2005 and 2021, Assistant District Attorney Susan Hoffinger said in her opening statements in Manhattan Supreme Court. “This case is about greed and cheating, cheating on taxes,” Hoffinger told jurors. “The scheme was conducted,...
  • Democrat John Fetterman: ‘I Certainly Would Have Voted’ for Biden’s New IRS Audits on Working, Middle Class

    10/30/2022 4:26:56 PM PDT · by conservative98 · 22 replies
    Breitbart ^ | 30 Oct 2022 | JOHN BINDER
    Pennsylvania Lt. Gov. John Fetterman (D) says he “certainly would have voted” for President Joe Biden’s Inflation Reduction Act set to squeeze $20 billion from working and middle class households with new Internal Revenue Service (IRS) audits. Fetterman, running against Republican Mehmet Oz for the state’s open United States Senate race, made the remark during a panel discussion with Sen. Amy Klobuchar (D-MN) while on the campaign trail last week. “I certainly would have voted for the Inflation Reduction Act,” Fetterman said. Despite Biden’s claims, the Inflation Reduction Act does not include any provisions requiring the IRS to avoid targeting...
  • Why Illinois Is In Trouble – 132,188 Public Employees With $100,000+ Paychecks Cost Taxpayers $17 Billion

    10/30/2022 2:06:32 PM PDT · by george76 · 29 replies
    Open The Books ^ | Oct 29, 2022 | Adam Andrzejewski
    The new ‘minimum wage’ for government work is now $100,000+... So, just who is making all of this money? Meet the Illinois government employee $100,000 Club. It's comprised of 132,188 public employees and retirees who earned a new ‘minimum wage’ of $100,000 or more. While crime skyrockets in the neighborhoods, test scores plummet in the public schools, and inflation decimates private-sector paychecks, the Illinois public employee class is living the good life. Our auditors at OpenTheBooks.com found nearly 500 educators in the public schools with salaries between $200,000 and $439,000. In small towns, city managers made up to $341,300. Three...