The United States is approaching a crucial juncture in its tax policy landscape. With several significant fiscal measures introduced under the Tax Cuts and Jobs Act (TCJA) poised to expire after 2025, policymakers find themselves in a complex decision-making environment that carries the potential to reshape the economic future for millions of families and small
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As the election draws closer, investors are faced with a myriad of tax policy proposals from the Democratic and Republican nominees. Vice President Kamala Harris plans to implement middle-class tax cuts while increasing taxes on the wealthiest Americans and corporations. On the other hand, former President Donald Trump aims to extend tax breaks from his
As the upcoming election approaches, potential changes to capital gains tax policies have been a hot topic among investors. Democratic vice-presidential nominee, Kamala Harris, proposed a 28% tax rate on long-term capital gains for individuals earning over $1 million annually. This proposal is lower than President Joe Biden’s plan, which calls for a 39.6% tax
As social media platforms like “DormTok” become popular among college students showcasing elaborately designed dorm rooms, the idea of dorm decor has evolved. With this trend, parents may be questioning whether their current insurance coverage is sufficient to protect all the purchases made for their child’s dorm room. Dorm insurance is a form of personal
In a surprising turn of events, the Biden administration’s ambitious plan to offer student loan forgiveness has been met with a legal obstacle. A Republican-led challenge has temporarily blocked the relief that millions of federal student loan borrowers were eagerly anticipating. U.S. District Judge Randal Hall issued a temporary restraining order against President Biden’s second
The IRS is currently navigating through plans to prevent increased audits on taxpayers making less than $400,000. However, experts caution that certain aspects of your tax return can still draw attention from the IRS, regardless of your income level. The Treasury Inspector General for Tax Administration (TIGTA) recently reported that the IRS has made minimal
Vice President Kamala Harris has recently put forward a proposal to increase the capital gains tax rate for households making over $1 million per year. This proposal aims to raise the current tax rate of 20% to 28%, thereby affecting top earners significantly. Harris emphasized the need to reward investment in America’s innovators, founders, and
Coupons have revolutionized the way consumers save money when shopping online. Gone are the days of relying solely on Sunday circulars for discounts. In today’s digital age, consumers have access to a plethora of online codes, browser extensions, and money-saving apps that offer significant discounts at any time. According to a recent study by SimplyCodes,
Vice President Kamala Harris has outlined her economic agenda, which includes higher taxes on wealthy Americans and corporations. The plan endorses the tax increases proposed by President Joe Biden for the fiscal year 2025 budget. This includes a 25% minimum tax on total income, which would also cover “unrealized gains” exceeding $100 million. However, experts
Marketplace health insurance has become a crucial lifeline for many younger retirees in the United States, offering lower monthly premiums through the end of 2025. With the boosted tax breaks provided by the government, individuals aged 55 to 64 have been able to take advantage of this affordable health coverage option. However, despite the apparent