Taxes

In two months, the United Kingdom has had two new tax plans, two new Prime Ministers (Liz Truss, then Rishi Sunak), and two new Finance Ministers (Kwasi Kwarteng, then Jeremy Hunt). The Truss-Kwarteng tax proposal would have lent modest support to real economic growth, cushioning economic fallout from the Bank of England’s overdue efforts to
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If you have questions about student loan forgiveness, you’re not alone — especially after recent court rulings blocking loan cancellation efforts. The Federal Student Aid office is not accepting new loan forgiveness applications at this time, but we’ve provided some common FAQs below for those who still have questions. If the program begins accepting applications
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Wondering what’s changed in the tax world from last year? We put together the top six 2022 federal tax changes that taxpayers like you should know about before filing your income tax return in 2023. Tax year 2021 saw major tax changes due to the coronavirus pandemic, but many of those changes went away in
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“Tax fairness” has been a lingering theme in European Union policy circles since the 2008 financial crisis. Over time, the meaning of “tax fairness” has expanded from combatting tax fraud and avoidance to promoting a certain vision of broader economic fairness. This vision has been primarily focused on taking from wealthy citizens and large corporations and giving
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On Election Day, a narrow majority of voters approved Massachusetts Question 1, also known as the Fair Share Amendment, which will transition the Commonwealth from a flat rate individual income tax to a graduated rate system. Effective January 1, 2023, the Bay State will begin taxing all individual income above $1 million at a 9 percent
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Our 2023 State Business Tax Climate Index, released in October, considers five main tax categories: corporate taxes, individual income taxes, sales and excise taxes, property and wealth taxes, and unemployment insurance taxes. Today, we take a closer look at states’ rankings on the corporate tax component, which accounts for 21.1 percent of each state’s overall rank. The corporate tax
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Being your own boss comes with a variety of perks. But it also forces you to handle work typically taken care of by a human resource or finance department. For example, you must find your own healthcare plan and deduct taxes from your paycheck. And, when it comes to saving for retirement, it’s your responsibility to start a savings fund. Here are
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Running a business or a side hustle isn’t for the faint of heart. Whether you’re just starting out or you’ve been doing this for a while now, the self-employed tax jargon can be a little overwhelming. Let’s take a quick refresher with a helpful glossary of common business finance and tax terms you might run
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Due to changes in what companies are required to report to the IRS this tax year, more taxpayers will receive Form 1099-K than in previous years. For some, the arrival of this unexpected tax form may be confusing and stressful — but don’t panic. We’re here to help you report this correctly on your income
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