Tag: Direct Taxation

Opinion: Biden’s plan to raise capital-gains taxes on the rich is good politics but bad economics

The leak about the second phase of proposed tax increases concerning capital gains pushed the investor community into a frenzy. While the details of the...

Bitcoin suffers biggest weekly loss since March 2020

The price of bitcoin temporarily dropped below the psychologically important $50,000 level on Friday, putting the digital asset on track for its worst weekly performance...

If you’re in your 50s or 60s, consider these moves to avoid higher taxes in retirement

If you are working with an eye toward retirement or even semiretirement, you are probably (hopefully) saving more than you could in the past in...

April 15 is not tax day in 2021, but it’s still a crucial deadline for some taxpayers — are you among them?

But the words normal and typical don’t seem to apply to anything these days, and this year’s tax season is no exception. So the simple...

When can I deduct business meal and entertainment expenses under current tax rules?

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target. If you’re confused about what rules currently apply, I...

Under $1.9 trillion stimulus bill, jobless Americans who earned less than $150,000 last year will save an average of $1,000 in taxes

This time, it’s different. Unlike the first two COVID-19 stimulus packages, the new $1.9 trillion stimulus package adds tax relief onto another round of federal...

Millions of Americans who were unemployed last year face another shock: A 2020 tax bill they can’t afford

As Americans prepare to file their 2020 income taxes, a new Democrat-backed bill wants to block federal income taxes on the first $10,200 a person...

Need to report bitcoin trades on your taxes? Here are 5 things to know first

Treasury Department Secretary Janet Yellen is not big on bitcoin, a point she reiterated recently when she called the digital currency speculative and “inefficient.” That...

Last-minute strategies for lowering your 2020 business tax bill

Although 2020 is history (thankfully), business taxpayers can still take actions that will lower last year’s federal income tax liability and/or federal income tax liabilities...

If you moved in 2020, take these steps to avoid a surprise state income-tax bill in the New Year

What they might not be aware of: The state income-tax bill. “It’s something a lot of individuals are navigating,” said Jeremiah Barlow, executive vice president...

My husband and I are planning to give our daughter a home for Christmas. Are we making a mistake?

‘The Big Move’ is a new MarketWatch column seeking to answer questions about navigating the world of real estate. Do you have a question about...

I’m 60, my wife thinks ‘money is for spending,’ I just lost my job and plan to retire — how can we avoid money fights?

I’m 60 years old and recently lost my job of 20 years. Given my age and the current economic climate, I’m looking at the possibility...

Can Trump or Biden fix Social Security?

Considering how important retirement security is to most Americans, the presidential candidates have spoken relatively little about it. In the final presidential debate on Thursday,...

I’ve been working at home during the pandemic — do I qualify for any tax breaks?

Say you’ve had to work from home during the COVID-19 crisis. Join the club. Like many others who are lucky enough to be able to...

Can Trump write off $70K in haircuts? IRS allows tax deductions for highly unusual expenses — including fertility treatment, vasectomies and rehab

The Internal Revenue Service is not as punitive on tax write-offs as some people might think. President Donald Trump paid just $750 in federal taxes...

Possible payroll tax cuts and lowering rates on long-term capital gains — what a win for Donald Trump could mean for your taxes

The presidential campaigns of President Donald Trump and former Vice President Joe Biden are gaining momentum. One important issue will be taxes. One potential move...

Should we rethink how we tax Social Security benefits?

Taxation of retirement income is an important issue. People with significant 401(k) holdings are going to owe the government a meaningful portion of their pile...

Income Tax Dept to conduct new e-campaign for taxpayers

The Central Board of Direct Taxation will be conducting a new e-campaign for current as well as potential taxpayers. The new campaign will be targeted...