Converting your current retirement accounts to a Roth IRA is typically a very tax-efficient strategy. It can help lower your lifetime taxes significantly. However it does come with a large up-front bill. While there’s no way to avoid conversion taxes completely, you can restructure them to make this much more manageable. By staggering out your […]
(Bloomberg) — Colombia President Gustavo Petro has proposed lowering the country’s corporate tax rate and increasing income taxes for its highest earners. Most Read from Bloomberg The move, which he has not yet detailed, would allow companies to grow and make the tax system more just, he said in a post on X on Saturday. […]
JAKARTA (Reuters) – Indonesia will impose a new tax on e-cigarettes from Jan. 1, adding to an excise tax to help curb vaping, the finance ministry said on Saturday. Southeast Asia’s largest economy has set the additional tax at 10% of the excise tariff for electronic cigarettes, the ministry said in a statement. “Long term […]
You may know her as the Barbie-like figure landing multi-million-dollar deals for a Los Angeles-based luxury real estate firm on Netflix’s hit TV series Selling Sunset. But Emma Hernan was a real estate investor long before she was an agent selling properties to superstars. This self-made multimillionaire, former model, entrepreneur, and real estate investor earned […]
In a 2-1 vote, Lebanon County Commissioners on Thursday approved a $94.4 million budget for 2024, which includes at tax increase. The 0.5-mill increase sets the millage rate at 4.3925 mills. This is the third time commissioners have had to raise taxes since 2016. The average assessed value of homes throughout Lebanon County is just […]
Tax Assessor-Collector Tommy Smyth said his office has taken steps to accommodate the year-end, last-minute tax payment rush, including adding extra staff at all locations. The remodeled offices in the Wichita County annex building will include an exterior ATM machine and a depository for after-hour payments. The end if the year is always a busy […]
COLUMBUS — Two local projects were among the 46 to receive Ohio Historical Preservation Tax Credits, through the Ohio Department of Development. In total, 56 buildings will benefit from the $67.5 million in tax credits. Receiving $250,000 in tax credits is the approximate $4.2 million rehabilitation of the Hotel Swisher at 117 to 119 E. […]
Former President Donald Trump is planning an aggressive expansion of his first-term efforts to upend America’s trade policies if he returns to power in 2025 — including imposing a new tax on “most imported goods” that would risk alienating allies and igniting a global trade war. While the Biden administration has kept tariffs that Trump […]
The pause between Christmas and New Year’s is a moment when many of us begin to contemplate the looming labors of tax season. When is the earliest I can file a return? When is the latest? Have the income brackets changed? What about deductions? Here are answers to 13 common questions that crop up in […]
An expansion of Pennsylvania’s child care tax credit signed into law by Gov. Josh Shapiro after passing the Legislature last week will increase the amount families with children in child care can receive. The expansion allows individuals to claim 100% of the federal child care tax credit they claimed. “Childcare costs have continued to increase […]
Indiana’s more than 12,000 National Guardsmen will no longer pay state taxes for their service-related income beginning with their 2023 tax returns. A state law — House Bill 1034 — is in effect and, according to a news release from the Indiana National Guard, the tax exemption applies to the traditional weekend Hoosier Guardsmen, the […]
Ask an Advisor: How Can Tax Rates Be Higher in Retirement Than Your Earning Years? I recently attended a retirement seminar at a local community college where the instructor talked about potentially higher tax rates in retirement due to the new RMD age. I have been under the impression throughout my saving career that tax […]