Most people who received money from Norfolk Southern in the wake of last year’s fiery train derailment in eastern Ohio won’t have to pay taxes on millions of dollars in aid payments after all. The Internal Revenue Service said Wednesday that most of the payments people who live near East Palestine, Ohio, received to help […]
Under the new proposal, there are three new brackets for individuals making $144,500 and more that are taxed at progressively higher rates.(Getty Images) A proposal to add new tax brackets and increase rates for wealthier Mainers was vetoed by Gov. Janet Mills on Friday. In her veto message, Mills listed multiple reasons for her veto. […]
Investigators from the Senate Special Committee on Aging are releasing a report Thursday detailing the cases of a dozen elderly and other scam victims facing large tax bills on the money that was stolen from them. The report includes interviews with victims and tax experts who described the cascading misfortune faced by retirees from Pennsylvania, […]
Financial advisor and columnist Matt Becker I’m in my first year of required minimum distributions of $36,000, which is causing me to be taxed on my $33,000 in Social Security benefits. What is a good strategy to reduce my RMDs below $25,000 so my Social Security benefits do not become taxable? Would taking a lump […]
For those who got cut a big fat bonus check last year, the extra cash was probably a welcome addition to your regular paycheck. But if you read the fine print, you’ll notice the taxes withheld seem like a bigger chunk than those held back from your regular wages. So what gives, and why does […]
Roth IRA contributions are made with after-tax dollars. Roth IRAs offer a tax-advantaged way to save for retirement, and they’re a popular choice among investors. However, understanding how Roth IRA contributions are taxed is crucial for making informed financial decisions. Let’s break down the marginal tax rate, compare Roth IRAs to traditional IRAs, delve into […]
WINNEMUCCA, Nev. (AP) — U.S. land managers are planning to round up more than 2,800 wild horses across four Nevada counties beginning next week in an effort to reduce pressure on the drought-stricken rangeland. The Bureau of Land Management announced details of the operation Friday, saying the current wild horse population across portions of Pershing, […]