Tuesday, November 2, 2021

Democrats might not touch these taxes. But they’re going up anyway

Democrats jettisoned a number of proposals to raise taxes on the wealthy in their $1.75 trillion social and climate spending measure. But those taxes are set to increase even if lawmakers don't touch them.

That's due to language in the 2017 tax law, passed by a Republican-controlled Congress and White House, which made these tax cuts temporary.

Publisher: CNBC
Date: 2021-11-02T18:43:54 0000
Author: https www facebook com CNBC
Twitter: @CNBC
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Youngkin's platform pushes low taxes, job growth | Fox Business

The Hill Editor-in-Chief Bob Cusack weighs in on the Virginia governor's race and in the president's popularity.

The tight race between Virginia Republican gubernatorial candidate Glenn Youngkin and Democrat Terry McAuliffe has become largely about education, but the GOP candidate says it is also about "kitchen table issues" like lowering taxes and boosting job growth.

Publisher: Fox Business
Twitter: @FoxBusiness
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Credit Karma Tax Is Now Cash App Taxes – Forbes Advisor

Did you use Credit Karma Tax to prepare your tax return in 2021? Expect to see changes for the coming tax-filing season as Credit Karma Tax no longer exists.

In November 2020, Square, Inc., the parent company of the financial services app Cash App, announced an agreement to acquire Credit Karma's free do-it-yourself tax filing service. But why did this happen? And what does this mean for current and former Credit Karma Tax (CKT) customers?

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Publisher: Forbes Advisor
Date: 2021-11-01T13:24:56-04:00
Author: Janet Berry Johnson
Twitter: @forbes
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Democrats Push for Agreement on Tax Deduction That Benefits the Rich - The New York Times

WASHINGTON — Democrats were readying an agreement on Tuesday that would repeal a cap on the amount of state and local taxes that homeowners can deduct as part of a broader $1.85 trillion spending bill, a move that could amount to a significant tax cut for wealthy Americans in liberal states.

Date: 2021-11-02T22:38:37.274Z
Twitter: @nytimes
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Murfreesboro City Property Taxes Due Dec. 31, 2021 - Rutherford Source

MURFREESBORO, Tenn. — Finance Director and City Recorder/Treasurer Jennifer Brown reminds property owners to pay property taxes on time. City property taxes are due December 31, 2021. As the office will be closed on December 31, 2021, payment can be made on or before Jan.

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Publisher: Rutherford Source
Date: 2021-11-02T01:00:51-05:00
Author: https www facebook com rutherfordsource
Twitter: @rutherfordsrc
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What happens with taxes if I transfer this home to my son's name? - nj.com

First, there are no implications to change the bills into your son's name, said Joseph Sarnecki, a certified financial planner with U.S. Financial Services in Fairfield.

"Hence, you and your wife can gift $30,000 a year to your son without filing a gift tax return or eating into your exemption amount," he said.

Publisher: nj
Date: 2021-11-02T09:30:00Z
Author: njmoneyhelp
Twitter: @njdotcom
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Proposition 119: Colorado voters reject effort to raise marijuana taxes

Colorado voters on Tuesday rejected a proposal to increase taxes on recreational marijuana to pay for out-of-school support services for students like tutoring and therapy.

With more than a million ballots counted at 10 p.m., the measure was failing with 54% rejecting the initiative and 46% in support, a 90,000-vote deficit

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Publisher: The Colorado Sun
Date: 2021-11-02T14:00:00 00:00
Twitter: @coloradosun
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Proposition results: Should some Colorado property taxes be cut?

The ballot measure being pushed by conservatives would reduce the property tax assessment rates for multifamily residential properties

An effort to reduce some property taxes in Colorado was failing by a wide margin Tuesday night in what would be a stinging defeat for conservatives who have increasingly turned to ballot measures to advance their policies as their statewide and legislative candidates keep losing.

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Publisher: The Colorado Sun
Date: 2021-11-02T14:00:00 00:00
Twitter: @coloradosun
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The 3 Best Ways to Save on Taxes When You Have Multiple Business Ventures

Why the explosion? Although entrepreneurs often do see opportunities in challenging environments, the wealth manager in me is guessing they were also going after something else during the trying times of the pandemic: multiple income streams.

When you have money coming in from multiple places, it creates opportunities to take advantage of tax deferrals and tax minimization strategies.

Twitter: @Yahoo
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