Money

Taxes

California is the highest tax state. And it's newest idea isn't an income tax, it would be America’s first wealth tax. It would tax households worth more than $50 million with a 1% annual wealth tax. If you are worth over $1 billion, the rate would be 1.5%, every year. Add the state's 13.3% tax.

Martin A. Sullivan examines potential negative effects of terminating the U.S. tax treaty with Russia and denying tax credits for income taxes paid to the Russian government.

I call SCE an industry based on nonsense, because there is no way that you can buy property and after a very short time give some of the rights in the property and come out cash positive without, you know, fibbing on the valuation.

We have very strong economic numbers, but very negative attitudes about the economy. Why the gap?

Some people claim early because they are afraid benefits will be chopped. What are the odds?

If you inherited an IRA in 2020 or later, watch out because the rules have changed—again.

Virginia’s efforts to subsidize a stadium and mixed-use commercial development for Dan Snyder and his Washington Commanders NFL football team would be a foolish waste of taxpayer money.

Strong economic growth and job creation has led some to say we're in "the Biden Boom." Although inflation remains worrisome, the American economy is very strong.

If Putin stays his course, Russia will, at one extreme, become Iran economically speaking. Or it may find that its only major trading partner is China, turning Mother Russia into China's baby. Putin still has a way out. He can cease fire and negotiate for something both side can agree.

Robert Goulder of Tax Notes and Jasper L. Cummings, Jr., an attorney based in Raleigh, North Carolina, discuss the importance of tax secrecy and whether it’s truly needed.