Considering assisting your son with a $30,000 contribution toward the down payment on his first home? This act of generosity can significantly ease his homeownership journey. However, it’s important to understand the tax implications for both you and your son as well as the reporting requirements to the IRS. Don’t Miss: Understanding Gift Taxes For […]
School maintenance funding. Abortion laws. Workforce training grants. Tax relief. Library materials. The list of issues that will likely be heard during this year’s legislative session is long, with some controversial proposals that failed last year likely to get another shot at becoming law in the next few months. Gov. Brad Little continues to emphasize […]
JEFFERSON CITY, Mo. – Women and families in Missouri could get to keep some extra cash in their pockets later this year. Two bills are now starting their long journey through the legislature in Jefferson City. If passed, Missouri families would no longer pay taxes on diapers or feminine hygiene products. As it stands, taxes […]
KANSAS CITY, Mo. — Jackson County Legislators say they are set to vote Monday on whether to put an extension of a 3/8 cent sales tax on the ballot to support stadiums for the Royals and Chiefs for the next 40 years. That tax would be part of the effort to keep the baseball Royals […]
As of the start of the year, the implementation of new rules by the Department of Energy (DOE) means only 13 vehicles qualify for federal tax credits for electric vehicles made in North America. Prior to the new rules going into effect, there were 21 models that qualified for federal tax credits, though that list […]
Republican Governor Glenn Youngkin’s proposed personal income tax cuts would disproportionately benefit wealthy Virginians while creating a multi-billion-dollar revenue shortfall over the next two years, according to analysis by The Commonwealth Institute. Youngkin included a 12% reduction in income tax across the board in his budget proposal, released in December. That cut would reduce personal […]
The U.S. government has revealed the list of electric vehicles that qualify for the full federal tax credit under the newer, more stringent guidelines, and you can count them on one hand. General Motors’ outgoing Chevy Bolt, plus certain variants of the Ford F-150 Lightning and Tesla’s Model 3, Model Y and Model X are […]
By David Shepardson WASHINGTON (Reuters) – General Motors said Wednesday it is offering $7,500 incentives on its electric vehicles that lost a U.S. government tax credit this week. The Treasury issued guidelines in December that took effect Monday detailing new battery sourcing requirements aimed at weaning the U.S. EV supply chain away from China. GM […]
Jan. 2—GRAND FORKS — At its first meeting of 2024, the Grand Forks City Council on Tuesday approved several property tax exemptions and also approved continued progress on security system implementation at city buildings. Under North Dakota Century Code, cities are allowed to exempt an increase in property taxes due to the increase in the […]
The U.S. government has revealed the list of electric vehicles that qualify for the full federal tax credit under the newer, more stringent guidelines, and you can count them on one hand. General Motors’ outgoing Chevy Bolt, plus certain variants of the Ford F-150 Lightning and Tesla’s Model 3, Model Y and Model X are […]
(Bloomberg) — The number of electric vehicle models eligible for a consumer tax credit of as much as $7,500 fell sharply as new rules from the Biden administration kicked in on Jan. 1. Most Read from Bloomberg Narrower criteria reduced the number of qualifying models to 13 from about two dozen, according to federal data […]
Jan. 1 is more than just a holiday. It’s also the day you can get money off items you may need before your children return to school. The Florida state legislature extended a back-to-school sales tax holiday last year to help families restock during the winter break. From clothing to school supplies to computers, parents […]