Tax Exemption, Beautiful Bill
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Instead of paying up, wealthy expats are getting out—sparking questions about whether the move will raise any money at all.
Manchester City Council became what is believed to be the first local authority to introduce the scheme last month.
About two-thirds of U.S. adults expect the new tax law will help the rich, according to the poll from The Associated Press-NORC Center for Public Affairs Research. Most — about 6 in 10 — think it will do more to hurt than help low-income people. About half say it will do more harm than good for middle-class people and people like them.
Once upon a time, the idea of simplifying the federal tax code enjoyed widespread bipartisan political support. Times have changed in this regard, and not for the better. That’s bad news, and not just because of the headaches it causes taxpayers each April.
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Range reports that Trump’s “Big Beautiful Bill” offers significant tax changes for high earners, including increased estate tax exemptions and expanded SALT deductions.
Passage of Donald Trump’s sweeping tax, health and spending bill was no small feat for Republicans, but selling it to the American people may prove to be tougher, even for a president who built a career on savvy branding.
Washington — A Trump-backed tax holiday on auto loan interest payments could save middle-class Americans several hundred dollars apiece on new U.S.-built vehicle purchases through 2028, according to industry experts.
Plans to introduce a tourist tax in Southwark, which could raise millions for the area, have moved a step closer after the local council agreed to go ahead. Southwark is home to some of London's most visited attractions and areas including London Bridge, the Shard, the Globe theatre and the Tate Modern art gallery.
The almost 900-page bill has plenty to say about taxes, and an array of changes, new credits and deductions are part of the new bill. But at its heart, the bill is about extending the tax provisions passed under the Tax Cuts and Jobs Act of 2017, during Trump’s first administration.
Oracle has challenged the property valuation of its Stargate data center site in Texas.
President Donald Trump's "big beautiful bill" includes a section for "no tax on tips." Now that the provision is enacted, here's what experts know so far.