Capital gains taxes

If you got rich buying Bitcoin a year ago, Elon Musk is inviting you to purchase one of his cars with some of the proceeds. The taxman will be watching if you do.

Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months.

Right out of the gate, this year has provided some intriguing storylines that undoubtedly will have ripple effects when tax pros sit down with their clients next winter.

Progressives are eyeing tax measures including an increase in the capital-gains levy.

You can provide a bit (coin) of good news for clients with outsize short-term gains from alternative assets.

Three House Democrats are pushing legislation that would repeal the carried-interest tax break used by fund managers to reduce the levies they owe to the Internal Revenue Service.

Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead.

The outcomes of two elections in Georgia that are scheduled for Jan. 5 are expected to determine the balance of power in the Senate and may also have an impact on the kind of tax planning that accountants should be advising their clients to do.

President Donald Trump spent months on the campaign trail taking credit for “opportunity zones,” a policy meant to encourage investment in distressed communities across the U.S. Joe Biden’s team sees potential in the idea, too.

Biden’s win brings some clarity, but the uncertain state of the Senate leaves questions.

Many taxpayers want to pay less themselves — but want others to pay more.

Any capital-gains tax increase resulting from a Democratic “Blue Wave” victory on Election Day is unlikely to have a big impact on stock prices, according to Goldman Sachs Group Inc.

The recent announcement of potential financial transaction taxes in New York and New Jersey alongside new regulations represent a growing operational challenge.

Levies on most households below the top income brackets would stay about the same as under Trump.

It may seem counterintuitive, but paying appreciably more taxes in 2020 could save families a lot of money down the road.

It’s not too early to start thinking about post-election tax planning.

The White House isn’t considering an executive order to carry out President Donald Trump’s call for a cut in the capital gains tax because Congress probably would have to change the rate, administration officials said.

President Donald Trump is tapping his presidential authority to make tax changes that Congress is refusing to do, but his limited power means he could end up over-promising and under-delivering on his pledge to slash IRS bills.

President Donald Trump said he’s “very seriously” considering a capital gains tax cut, a move he decided against last September after saying it wouldn’t do enough to help the middle class.

House Speaker Nancy Pelosi dismissed President Donald Trump’s call for a payroll tax cut and changes in the capital gains tax, saying it wouldn’t help millions of unemployed workers and others struggling in an economy shut down by the pandemic.