Tax planning

They’re still valuable, but require stricter attention to the rules than ever.

Michael Bloomberg is proposing a financial transactions tax of 0.1 percent and merging Fannie Mae and Freddie Mac as part of a proposal for regulating Wall Street for a financial system “strong enough to weather crises without harming the broader economy or requiring taxpayer bailouts.”

Michael Bloomberg said Saturday he would raise taxes on the wealthy, increase the corporate tax rate, and curb tax-free inheritances of large estates, elements of a tax plan that he says would raise $5 trillion over a decade.

The former Treasury Secretary proposed a suite of steps the U.S. government can take to raise trillions of dollars more in revenue from the rich without adopting a wealth tax.

One way the rich get richer is through inheritance, and they’re barely paying taxes on it.

The billionaire and Democratic presidential contender would pay $17.9 million more in annual taxes under a plan Democrats are considering should they sweep Congress and the White House in the 2020 election.

As an accounting professional, you know there are potential tax-related upsides and downsides for every type of business entity.

Democratic presidential candidates Joe Biden and Bernie Sanders have overestimated the amount of revenue their tax proposals would generate by hundreds of billions, or even trillions, of dollars, according to a new study.

They call themselves the Patriotic Millionaires, and they say with straight faces it’s time the ultra-affluent kick in more to Uncle Sam.

The White House continues to work on a tax-cut plan in hope that Republican lawmakers will be in control of Congress after the 2020 elections, President Donald Trump’s top economic aide Larry Kudlow said.