Startup employees should pay attention to Biden’s capital gains tax plans – TechCrunch

Vieje Piauwasdy Contributor Vieje Piauwasdy is the director of Equity Strategy at Secfi, an equity planning platform for startup executives and employees. The Biden Administration has reportedly proposed significant changes to the capital gains tax, aiming to target the wealthiest Americans to help fund his historic aid programs. If the current proposal goes into effect,…

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Biden Leans Into Plans to Tax the Rich

“Ultimately, his political standing is judged by the health and well-being of the economy,” said Josh Holmes, a political adviser to Senator Mitch McConnell of Kentucky, the Republican leader. “What he’s talking about from a tax perspective is administration-assisted suicide.” Today in Business Updated  May 5, 2021, 6:08 p.m. ET But Mr. Holmes agreed that,…

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Amazon Had a Big Year, but Paid No Tax to Luxembourg

Amazon had a record-breaking year in Europe in 2020, as the online giant took in revenue of 44 billion euros while people were shopping from home during the pandemic. But the company ended up paying no corporate tax to Luxembourg, where the company has its European headquarters. The company’s European retail division reported a loss…

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Biden’s Modest Tax Plan

Business lobbyists and conservative think tanks are not big fans of President Biden’s proposed tax increases on the wealthy. The Tax Foundation has said that Biden wants to raise the capital gains tax to “highs not seen since the 1920s.” Suzanne Clark of the U.S. Chamber of Commerce called the same plan “outrageous.” Jay Timmons…

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Michael Jackson’s Estate Is Winner in Tax Judge’s Ruling

After Michael Jackson died in 2009, at age 50, the executors of his estate began shoring up the shaky finances of the onetime King of Pop, settling debts and striking new entertainment and merchandising deals. Before long the estate was in strong shape, with debts reduced and millions of dollars in earnings. But there was…

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Why a $10,000 Tax Deduction Could Hold Up Trillions in Stimulus Funds

“I think it’s a giveaway to the rich,” she told reporters last month. “So, I do not believe in holding the entire infrastructure package hostage for a full repeal and abolishing the cap. I think we can have a conversation about the policy, but it’s a bit of an extreme position, to be frank.” There’s…

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Here’s How to Claim Your Stimulus Payments: File Your Tax Return

For the third payment, the I.R.S. calculated eligibility and amounts based on 2019 returns. If your income dropped in 2020, you are likely to qualify for a bigger payment. After you file your 2020 return, the I.R.S. says, it will send out any higher amount that you are owed. If you still don’t get a…

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An Inheritance Tax Bill You ‘Can’t Fathom’: $10.8 Billion

SEOUL — Picasso, Monet and Dalí are among the assets South Korea’s richest family is parting with as it prepares to pay one of the largest inheritance tax bills in history. The Samsung family announced on Wednesday that it would pay $10.8 billion in inheritance taxes after the death of Lee Kun-hee, Samsung’s chairman, last…

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Councilman Who Pleaded Guilty to $82,000 Tax Fraud Is Expelled

After he pleaded guilty last week to federal charges of evading $82,000 in taxes, Chaim Deutsch said he had no intention of stepping down from his seat on New York’s City Council. On Tuesday, he was forced to change his plans. Corey Johnson, the Council speaker, said that after initially believing that Mr. Deutsch, a…

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