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Savings for the top six U.S. banks from President Donald Trump’s signature tax overhaul accelerated last year, now topping $32 billion as the lenders curbed new borrowing, pared jobs and ramped up payouts to shareholders.January 17
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They call themselves the Patriotic Millionaires, and they say with straight faces it’s time the ultra-affluent kick in more to Uncle Sam.January 17
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For the owner of a multimillion-dollar company, selling by the end of 2020 could result in a much smaller tax bill than striking a deal in 2021 under new rules.January 14
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Consumers in 2019 were more likely to say plans to hike taxes on the wealthy would harm economic growth than they were in prior years, despite it being a key campaign pledge for nearly every Democratic presidential candidate, according to a new University of Michigan survey.January 10
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The world’s second-richest person said he wants his fellow billionaires to pay much higher taxes.January 3
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The Global Intangible Low Taxed Income has created a lot of challenges for taxpayers, since it was instituted by the Tax Cuts and Jobs Act of 2017.December 3
Principal ownerGamburg CPA PC
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Democratic presidential candidate Michael Bloomberg pledged to support “taxing wealthy people like me” but dismissed a wealth levy tried in other countries and supported by rivals including Elizabeth Warren and Bernie Sanders because “it just doesn’t work.”December 2
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Moving to a lower-tax state is more attractive than ever in light of the TCJA's $10,000 cap on state tax deductions.November 20
PrincipalPKF O'Connor Davies LLP
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Democratic representatives are working on legislation that would nearly double the top individual U.S. tax rate on the highest incomes.November 15
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The Treasury Department is planning to issue regulations restricting how hedge fund managers can claim a valuable tax break early next year.November 13
