There’s an emerging quirk to the new tax aimed at forcing some big companies to pay more: They can still keep paying less—simply by reporting lower profits. The corporate alternative minimum tax that took effect last year requires large, profitable US companies to pay at least 15% in taxes on the “book income” they report on … Read more
With Donald Trump’s political stock suddenly reaching new highs—after he survived an assassination attempt and starred in a slickly produced convention, while President Biden stays at home with Covid, all in one week—business leaders must revisit their scenarios for a Trump presidency. They should keep three factors front and center: Trump’s stance on taxes and … Read more
Sen. J.D. Vance (R-Ohio), newly selected as Donald Trump’s running mate, rocketed on to the national stage in 2016 after documenting the roots of the MAGA movement in his book “Hillbilly Elegy.” Less than a decade later, the native Ohioan has been tapped to bolster the Republican presidential ticket — bringing a unique brand of … Read more
BNN Bloomberg’s Paul Bagnell looks at how North American markets are shaping up for the trading day. (Bloomberg) — U.S. stock futures rose and longer-maturity bonds retreated as investors ratcheted up wagers that Donald Trump would win the presidential election after an assassination attempt.The U.S. 30-year yield rose above the two-year for the first time … Read more
Global Tax Agreement: Details & Analysis | EU Global Minimum Tax Skip to content Home • Blog • The Latest on the Global Tax Agreement See Full Timeline In recent years, countries have debated significant changes to international tax rules affecting multinational companies. In October 2021, after negotiations at the Organisation for Economic Co-Operation and … Read more
More than half of former President Donald Trump’s flagship policy proposals are unpopular with voters, according to a recent poll.Abolishing the Department of Education, cutting corporate taxes and giving the president more control over the civil service and independent federal agencies were amongst the least popular elements of Trump’s so-called Agenda 47. Only nine out … Read more
IRS is focused on Businesses since the passage of the Inflation Reduction Act. Under the Strategic Operating Plan (funded by the Inflation Reduction Act), the IRS is increasing audit rates, expanding enforcement and targeting non-compliance for business taxpayers. IRS compliance efforts are geared towards having the IRS compliance teams better detect tax cheating, identify emerging … Read more
UK equities’ support following a Labour victory driven by a temporary boost from easing political uncertainty will be limited as the expectation has already been widely priced-in by the markets. Also, for the UK’s stocks to secure robust growth and regain ground against their global peers, three critical factors must align, said the CEO of … Read more
Wealth Tax Impact: Details & Analysis | Tax Foundation Skip to content Colombia, Norway, Spain, and Switzerland. Countries have repealed their wealth taxes for a variety of reasons. They raise little revenue, create high administrative costs, and induce an outflow of wealthy individuals and their money. Many policymakers have also recognized that high taxes on … Read more
For years we’ve been hearing that when President Donald Trump cut corporate taxes in 2017, corporations pissed away their tax savings on stock buybacks. Trump himself, in one of his rare episodes of truthfulness, admitted it. But that turns out not to be quite right. According to a new report by the public interest nonprofit … Read more