Taxation

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POTUSPosted by
The Associated Press

From vaccine sharing to climate, G-7 talks yield agreements

FALMOUTH, England (AP) — The Group of Seven wealthy democracies have wrapped up their first face-to-face summit in two years at a seaside resort in southwest England. The leaders of the G-7 — Canada, France, Germany, Italy, Japan, the United Kingdom and the United States — made commitments on a range of topics, from sharing coronavirus vaccines to tackling climate change and making corporate taxation fairer.
EconomyTVOvermind

How Transfomers and SpongeBob Cost Taxpayers $4 Billion

Someone’s telling a story here, and it’s either those that have found out that ViacomCBS has been avoiding paying their share of taxes for years or ViacomCBS itself. The thing is that ViacomCBS almost sounds as though they’ve been put on the defensive, which isn’t entirely inactive of guilt, but is curious since if there’s nothing to hide then it should be fairly easy to make quick work of such a rumor. But the idea that the company, which is the parent company for Paramount, which also has franchises such as Spongebob Squarepants and the Transformers under their collective belt, is shuffling their profits around from place to place to avoid paying taxes, makes it easy to lose faith in them as they continue to deny what’s going on. This is what was said in a report about the issue of tax shelters that ViacomCBS has been using, as per MovieWeb:
EconomyPosted by
The Independent

Four years on from Grenfell, homeowners caught up in the building safety crisis face financial ruin

Four years on from the Grenfell Tower tragedy, hundreds of thousands of residents in worthless, unsafe flats are dealing with the crushing emotional and financial burden of a building safety crisis that threatens many with losing their homes and bankruptcy.The government has so far failed to even recognise the scale of the problems, let alone devise a credible plan to fix them, leaving residents feeling helpless and abandoned.Ralph Glenc, 43, describes his situation as a “nightmare that never ends”. He is stuck in a flat in Kennington Park Square, southeast London, unable to sell his home due to serious...
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Personal Financemvariety.com

Finance releases over $3.4M in tax refunds

THE Department of Finance on Friday announced that the first batch of $3.4 million in regular tax refunds to 4,600 taxpayers were to be distributed this past weekend. Over $80,000 of these funds were direct deposits. Secretary of Finance David DLG Atalig said filers who filed on time and are...
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Home & Gardenhomesandgardens.com

Saltbox house style – the ultimate guide

Whether you’re looking for a new home or trying to find a chic Airbnb for a summer getaway, drive a few hours north up the Atlantic coast and by the time you’ve reached New England a familiar shape of home will start to line the streets of suburbia. Saltbox homes...
Income TaxWashington Post

A simpler tax fix: enforcement

In her June 10 Thursday Opinion essay, “Taxes that soak billionaires could be fair — but harmful,” Megan McArdle seemed to suggest that paying taxes on unrealized capital gains is the principal — or only — way to achieve a fairer tax base and criticized that straw-man suggestion. Please. For starters, why should individual tax rates reach 37 percent but capital gains be taxed at only up to 20 percent? Why should hedge fund managers’ income be “carried” so that they can be taxed as if they were capital gains? Why should inherited assets — such as stocks — be “stepped up” so that their original cost basis is recalculated and previous growth ignored? Why should the corporate tax rate be set at 21 percent, which will yield only about 1 percent of gross domestic product, roughly half of what was garnered 10 years ago?
Income TaxNew York Post

An illegal and fake hit job on wealthy US taxpayers

ProPublica obtained the tax returns of the richest Americans and discovered what every informed person already knew: They don’t pay as much in income taxes as some people would like them to. This is being called a great scandal by many Democrats and liberal journalists. Meanwhile, that these returns were...
Agriculturetownandcountrymag.com

Ms. Rockefeller's Cannabis Farm

It all started in 2013, at the end of a dirt track in a rural section of New York’s Hudson Valley where a humble white farmhouse stands among a few colonial-red barns. Old Mud Creek Farm, as it’s called, had been put up for sale by the agrochemical giant Syngenta, which had used the 386-acre property for years to test products—fertilizers, pesticides, herbicides—on corn and soy crops. Nothing remarkable, just another tract of heavily used industrial farmland in a region where people have been rushing to get out of the industrial farming business.
EconomyCoinTelegraph

Pronouncements from the G-7 allow green fintech to flourish

After debating the issue for over eight years, the secretary-general of the Organization for Economic Cooperation and Development (OECD), Mathias Cormann, welcomed a historic international agreement by G-7 finance ministers from the United States, Japan, the United Kingdom, Germany, France, Italy and Canada on key elements of global tax reform designed to address the tax challenges related to the digitalization and the globalization of the economy amid the world economy digitizing at a fast pace with the occurrence of the COVID-19 pandemic.
Presidential ElectionCNBC

Families with kids would benefit most under Biden's proposed tax changes, report finds

President Joe Biden's proposed tax law changes are "skewed heavily" in favor of parents, a new analysis from the Urban Institute's Tax Policy Center (TPC) finds. The report finds that all low-income households earning $26,000 or less would see their tax bill drop by about $620, on average, in 2022. But families with children would benefit even more from proposed tax credits and changes, paying an average of $3,200 less.