Tax

To be among the top 10% of wealthy retirees, you require a net worth of $1.9 million. These people often have diverse investment portfolios, strong passive income streams, and a balanced long-term mindset.

Niloy Chakrabarti Oct 04, 2024

75-year-old Tim F. wishes he had claimed his Social Security earlier to fulfil his plans of spending it together with his wife, Sarah, who passed away at age 68.

Niloy Chakrabarti Oct 03, 2024

The elusive winner of the $1.13 billion Mega Millions drawing in March has another six months to claim the prize. The unclaimed winning ticket was sold in the Neptune Township of Monmouth County, New Jersey.

Niloy Chakrabarti Oct 02, 2024

Americans who have saved their entire lives in retirement plans face the risk of going broke in their golden years because many deplete their funds severely through premature withdrawals and lack proper tax planning for post-retirement income.

Niloy Chakrabarti Sep 26, 2024

The new tax will be adjusted when Social Security recipients in these states file their federal income tax returns. However, some states are working to extend exemptions to qualifying seniors.

Niloy Chakrabarti Sep 20, 2024

A 73-year-old US woman moved to Europe to live with his husband she married three years ago. She wonders if it's normal to give away the house they share to a distant relative while she pays the bills and supports their lifestyle.

Niloy Chakrabarti Sep 19, 2024

The Texas resident wonders if a divorce would offer her rights to the husband's inheritance and their five rental properties and incomes.

Niloy Chakrabarti Sep 17, 2024

Most investors rolling over their 401(k) funds into an IRA are unaware that the money sits as idle cash until actively invested in stocks and bonds.

Niloy Chakrabarti Sep 17, 2024

The man lives in an assisted living facility and claims to have repaid $5,000 to his mom. He is now exploring ways to receive the entire inheritance payout, even if that means amending his mother's old tax returns.

Niloy Chakrabarti Sep 12, 2024

More 401(k) participants contribute early and consistently for years while fully leveraging employer-matching contributions and major tax breaks.

Niloy Chakrabarti Sep 03, 2024

Equity fund manager and investor Grant Cardone explained that a million dollars would make you rich in 1960, not today, as the value of the greenback has dropped steeply over the decades.

Niloy Chakrabarti Aug 07, 2024

Millionaires often leverage provisions like backdoor Roth IRAs, 1031 exchanges, and business asset depreciation to reduce tax liabilities and preserve capital.

Niloy Chakrabarti Aug 06, 2024

Soon after winning, Tyler faced challenges like state and federal taxes, entitled cousins wanting their fair share, and whether she should buy a new house.

Niloy Chakrabarti Jul 11, 2024

Christiaan Van Der Valk, Vice President for Strategy at Sovos, discusses how governments mandate real-time digital tax reporting and how this presents businesses with opportunities to streamline operations and leverage data-driven insights.

Kevin Akeroyd Jun 25, 2024

While London has the highest number of estates subject to the tax, regions such as Sussex, the Cotswolds, and areas around Birmingham are expected to have the highest number of taxable estates per 100,000 residences.

Pragati Singh Sep 27, 2023

A recent study shows that numerous UK investors are unaware of tax-efficient investment options such as ETFs, IFISAs and other products beyond traditional ISAs.

Adewunmi Adedayo Apr 14, 2023

With the recently launched Developing Countries Trading Scheme (DCTS), the UK will extend tariff cuts to hundreds of more products from 65 developing countries.

Mark Jason Alcala Aug 17, 2022

The Duke and Duchess of Sussex have hired Bill and Melinda Gates' top staffer as their charity head.

Barnali Pal Sinha Mar 28, 2020

BBC presenters want the organisation to help pay their tax bills after a years-long investigation.

Simon Rushton Mar 04, 2018

Molly Scott Cato MEP, the Green spokesperson on tax justice in the European Parliament, refers to documents leaked to the Green group in Brussels.

Molly Scott Cato MEP Mar 01, 2018

In early 2014, the IRS released tax guidelines on cryptocurrencies and clearly spelled out that they are to be treated as property and not currencies.

Sean Ryan Feb 26, 2018

John Auckland of TribeFirst, says HMRC's stricter guidelines may cause campaigners to stumble before they even get out of the blocks.

John Auckland Feb 21, 2018

Authorities said thousands have already fallen victim to the scheme described as a "new twist on an old scam".

Hyacinth Mascarenhas Feb 20, 2018

Legal practitioner and IBTimes UK columnist Martin Kenney writes 2017 has been another mega year for financial scandals.

Martin Kenney Dec 07, 2017

Dominic Wheatley says sensationalist reporting is deliberately designed to undermine legitimate business acts of offshore centres.

Gaurav Sharma Nov 08, 2017

Molly Scott Cato, Green MEP for South West England and Gibraltar, has sat on three consecutive inquiry committees into tax avoidance as a member of the European Parliament.

Molly Scott Cato Nov 06, 2017

Angel Gurria tells CBI conference recently sensationalised tax practices were being clamped down on and no longer the norm.

Gaurav Sharma Nov 06, 2017

New research finds $2.6trn in offshore profits, $752bn in unpaid US federal taxes.

Staff Reporter Oct 17, 2017

Making a gift of a cultural object to the nation in return for a tax deduction against income, capital gains or corporation tax liabilities is worth considering.

Susan Johnson Sep 26, 2017

HMRC says the country will have to tackle 130,000 new EU companies that have not previously come into contact with British customs.

Roger Baird Sep 14, 2017