Speaking at the Munich Security Conference, the tech boss is expected to throw his weight behind creating a global digital tax regime.
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LONDON — Mark Zuckerberg, Facebook's chief executive, accepts that his social networking giant may pay more taxes outside the United States as part of a global overhaul of how big tech companies pay taxes, according to excerpts of remarks seen by POLITICO of a speech that he will give on Saturday.
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2 Tax Strategies to Consider Ahead of the 2020 Election - The New York Times
Trying to guess how and when the tax code is going to change and plan for those changes now is an impossible task.
Most prognosticators guessed correctly that President Trump was going to slash the corporate tax rate in 2017. But the doubling of the estate and gift tax exemption to more than $23 million a couple, from an already generous $11 million, was a bit of a surprise. More so was the elimination of deductions for state and local taxes, which disproportionately hit California and states in the Northeast that have high tax rates.
Council Post: Effectively Navigating The IRS-Mandated Estate And Gifts Taxes
Amassing and managing vast amounts of wealth generates a unique set of complex issues, as does passing it along to others. A deeper understanding of taxes, coupled with proper estate and gift tax planning, is essential for eliminating blind spots and safeguarding assets. Who knew that feeling generous and giving away a fortune could induce such anxiety?
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December 2019 marked the second anniversary of the signing of the Tax Cuts and Jobs Act. While the act made sweeping changes for many ordinary taxpayers, it handed extremely wealthy Americans a sweetheart of a deal.
Chloe Learey: Child tax credit for those who need it most - VTDigger
Editor’s note: This commentary is by Chloe Learey, the executive director of Winston Prouty Center for Child and Family Development in Brattleboro.
The 2017 tax bill included a provision for an increase in the child tax credit. The amount per child went up to $2,000, and families making up to $400,000 filing jointly were made eligible for the program. Unfortunately, recent media reports indicate that the increase has not helped those who need it the most.
Not to change the topic here:
Taxes 2020: The new 1040-SR form may make filing easier for seniors
The two-page form, known as 1040-SR , uses a bigger font than the standard 1040 form, has more spacing and is better at contrasting colors. Taxpayers who turn 65 on or before Jan. 1, 2020, can use the new form for their 2019 returns. For married couples filing jointly, only one of them needs to be 65 to use the form.
Most tax-preparation software can generate the larger-font form, but experts say it will be most useful for those who still file on paper.
How Much Did It Cost to File Your Taxes? — ProPublica
Tax preparers often aren't upfront with customers about the cost, and there are no good statistics on what people actually pay for help. You can help us with our reporting by sharing (confidentially) what you paid. The survey will only take a few minutes .
Valentine's Day: Here are 5 tax breaks that can reduce wedding costs
Recently engaged? Tying the knot can be stressful, especially if you're worried about your wedding budget.
Planning a ceremony and reception can be pricey when you factor in everything from catering to the bride-to-be's dress. On average, couples expect to pay $16,000 on their wedding, but ended up spending roughly $29,000 in 2018 because they often underestimated the cost of products and services, according to WeddingWire's latest Newlywed Report.
A wealth tax is a terrible idea
Throughout the first stage of the Democrats' nomination contest, Sens. Elizabeth Warren and Bernie Sanders seemed to be competing against one another for who can impose the most burdensome new taxes — or better yet, who can crash the U.S. economy quicker if elected.
Warren and Sanders agree that income inequality is an issue that must be addressed by a more progressive tax system. It's an understandable view for the two since they both put their faith in the same economists, Emmanuel Saez and Gabriel Zucman of the University of California, Berkeley. These two economists recently released a study on wealth inequality arguing that U.S. tax rates are nearly equal for all income levels.
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