For business owners paying taxes in the United States, captive insurance companies reduce taxes, build wealth and improve insurance protection. A captive insurance company (CIC) is similar in many ways Read more
Tag: Taxes
U.S. budget deficit narrows sharply in October
The numbers: The U.S. federal budget deficit narrowed to $87.8 billion in October, down from $165.1 billion in the same month last year, the Treasury Department said Wednesday. This is Read more
What the midterm elections mean for your taxes, inflation, living standards, and stock portfolio
During the midterm elections, personal finances were on the ballot. In addition to considering what the array of candidates could do to bring relief to high prices, voters considered ballot Read more
A majority of Americans want to live in a place with strong gun-control laws and IRS should brace for ‘broad and deep’ scrutiny if Republicans win midterm elections. Here’s why every taxpayer should care.
Hi, MarketWatchers. Don’t miss these top stories. A majority of Americans want to live in a place with strong gun-control laws: Redfin poll A new survey reveals what’s on voters’ Read more
I used some of my IRA for a qualified charitable distribution. How is this reflected in my taxes?
Dear Dan, Hello. Thank you for the opportunity to ask a question. This year I directed my traditional IRA custodial institution to send a contribution as a qualified charitable distribution. Read more
U.S. Treasury to auction $96 billion next week in refunding
The refunding: As part of its regular quarterly refunding, the U.S. Treasury announced Wednesday it would sell $96 billion in notes and bonds next week. The department said it would Read more
40% of households will pay no federal income tax this year and don’t toss your Halloween candy wrappers without reading this first
Hi, MarketWatchers. Don’t miss these top stories. 40% of households will pay no federal income tax this year. Why that’s good news. Nearly half of voters in a recent poll Read more
We want a low-tax home base while we bike around the world in retirement
I have the opposite problem that most of your readers have, I don’t want to live anywhere. My partner and I want to start our retirement traveling. We already sold Read more
IRS has been missing out on $500 billion in taxes owed annually — and the gap between what’s owed and paid is projected to widen
There’s a difference between the amount of taxes that people and businesses owe the Internal Revenue Service and the amount they actually pay. From 2014 to 2016, that multibillion-dollar gap Read more
‘Help is on the way’: Need to speak to someone at the IRS about your taxes? It’s about to get a lot easier, IRS commissioner says
The Internal Revenue Service has hired 4,000 people to help pick up the phone, speak with puzzled taxpayers and assist with other customer-service issues during the upcoming tax season, the Read more