Did you know that if you give someone too much money, you may have to pay tax on that gift? Most taxpayers are not familiar with the concept of gift tax that the government levies on transfers of money or other assets from one ...

San Francisco voters have approved a new tax that will target businesses with the most disproportionately high-paid executives. The details of the innovation were reported by the Mercury News edition. The adoption of such a measure was approved by 65,18% of voters, making San Francisco the first city in the United States to move to taxation as a private ...

State and local governments, struggling to raise money during the economic crisis caused by the COVID-19 pandemic, are steadfast in their push to raise taxes to fill budget holes. Writes about this Fox Business. It is proposed that in California, wealthy residents of the state ...

Millions of Americans have lost their jobs during the COVID-19 pandemic, and many claiming unemployment benefits could face an unexpected tax bill next year. Writes about this Fox Business. The IRS requires people to report benefit income ...

When it comes time to pay tax, all Americans are in the same boat. But the tax amount is not the same in all states. Although the bulk of taxes for a given year are collected by the federal government, there is still a large proportion of taxes that are paid differently in different ...

Taxes are an annoying fact of life for most people, but planning ahead can make things a little easier. Tax professionals and other financial experts have compiled a list of everything you need to do now to ensure you're on track to file by April 15th. About it…

Due to the level of taxation in most industrialized countries, many turn to tax havens. Tax havens are places where people and businesses move to avoid paying high taxes. GoBankingRates writes about this. The International Monetary Fund estimates that tax havens cost...

There are many tax deductions that you can claim on your tax bill, which can either reduce your debt or increase your tax refund. You are probably already familiar with some of the more common write-offs such as property taxes, but there are more ...

With the tax deadline approaching again on April 15, 2020, Americans may already be wondering how much damage will be done to their wallets this year. Unlike tax rates, the tax burden measures the amount of money taken from personal income.…

When it comes time to pay tax, all Americans are in the same boat. But the tax amount is not the same in all states. Although the bulk of taxes for a given year are collected by the federal government, there is still a large proportion of taxes that are paid differently from state to state. ...