U.S. income inequality grew in 2021 for the first time in a decade, according to data the Census Bureau released in September 2022. That’s because what’s been driving income inequality in the Read more
Tag: Capital Gains Tax
How to save a bundle on your tax return
This is Part Two of our list of suggested year-end strategies. Part 1 discusses gaming the federal standard deduction, and managing capital gains and losses. The tax environment is getting Read more
High inflation just pushed IRS deductions and tax rates higher — here’s how much, and when they kick in
America’s high inflation rate will produce a 7% increase in the size of the standard deduction when workers file their taxes on their 2023 income, according to new inflation adjustments Read more
Opinion: Donor-advised funds like Fidelity’s are starving charities of the money they need
Once upon a time, charity in the United States meant pitching in to help a friend or a neighbor in need. It meant local organizations feeding the hungry, housing the Read more
A retail investor’s guide to the Inflation Reduction Act: how to prep your portfolio
If investors thought they were getting their legs in a volatile stock market, a new tax, climate and healthcare spending bill from Capitol Hill might have them trying again find Read more
‘We expect it to be removed’: Democrats’ push to close ‘carried interest loophole’ in jeopardy as Sinema seeks to block effort
Sen. Kyrsten Sinema has signaled her opposition to closing a controversial tax loophole that allows carried interest to be taxed as capital gains instead of income, according to multiple reports. Read more