Tax deductions articles
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The 2017 GOP tax scam is paying for itself—by taxing scammed seniors
It’s no secret that the proliferation of scams targeting elderly Americans has increased dramatically with the expansive spread of information technology. Older Americans are particularly vulnerable to such scams, a disturbing reality that was made clear to me shortly before my father passed away. My parents, both in their 80s, were being inundated by scam phone calls and mailings, including the infamous grandparent scam, literally on a daily basis. Because they, like many older Americans, grew...
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Biden's 2025 Budget proposal seeks to tax capital gains at 45%, eliminate crypto tax loopholes
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Biden Calls for 44.6% Capital Gains Tax Rate, Highest Capital Gains Tax Since Its Creation in 1922
And don’t forget to add the state capital gains tax: the Biden combined federal-state rate would exceed 50% in many states President Biden has formally proposed the highest capital gains tax in over 100 years. Here is a direct quote from the Biden 2025 budget proposal: “Together, the proposals would increase the top marginal rate