Tax Strategies

The House voted Friday to decriminalize marijuana, expunge federal convictions on pot-related charges and impose taxes on cannabis producers and importers.

The unemployment rate fell two-tenths of a point to 3.6%, the U.S. Bureau of Labor Statistics reported Friday, and two previous months' job gains were revised upward.

Manchin doomed two pieces of the plan — ending a tax break for fossil fuels and taxing unrealized capital gains — just hours after Biden announced them.

The House overwhelmingly passed legislation that would expand the tax benefits for retirement accounts to bolster the savings of Americans.

The service had denied deductions for eco-friendly model home because of occasional personal use by the owners.

Biden’s 10-year outlook still would rack up $14.4 trillion in deficits — most of it on autopilot — even after accounting for that $1 trillion in net deficit cuts from new policies like tax increases on the wealthy and corporations.

President Joe Biden’s plan to tax unrealized capital gains ran into opposition from key Democratic Senator Joe Manchin, likely dooming it just hours after it was sent to Congress.

Tax proposals in the Biden administration’s budget include plans to raise the corporate tax rate to 28% and to tax the unrealized capital gains of “extremely wealthy” individuals.

They are the latest target of probes into whether Opportunity Zones are driving investment and job creation in low-income communities.

President Joe Biden made a fresh effort on Monday to persuade Congress to take steps to overhaul the tax code and squeeze more revenue from the largest companies and the wealthiest households.