Tag: Tax

Do annuities have a tax-free status? Not exactly. Again. Taxes are deferred on annuities. As a result, you don’t have to pay taxes on the growth of the funds. But, the taxes are paid later when the funds are received. Your annuity income is taxed as regular income when you do pay taxes. ...

As someone who doesn’t own a car, I spend a lot of time walking around my neighborhood of El Cerrito, California. One of my favorite places is the Ohlone Greenway, a beautiful pedestrian and bicycle path that is named after the Indigenous people of what is now known as the East Bay of the San ...

Back in the early 1970’s a group of wealthy home owners from Augusta, Georgia lobbied Congress to exempt from federal taxes the income they received from renting their mansions to the players and fans during the famed golf tournament held once annually in that beautiful southern city. Some of ...

The state of Alabama offers tax lien certificates for sale in May or June. Sales are conducted by setting the minimum bid at a certain amount, and if someone bids more than this then they also receive interest up until 15%. However any overbid above 15% will not get any kind owe except principal ret...

Imagine walking into a store and seeing two identical items, but one is priced higher simply because it’s associated with you. That’s the Black Tax. It’s not a government levy or a line item on a receipt but a societal burden that manifests in numerous ways. It’s the higher i...

We are all born naked. From that point onwards, paths diverge pretty damn quickly. Some of us are born into an ocean of privilege, which can come in all sorts of shapes, forms, and colors. As far as demographics go, I am ‘boring’ — I am able-bodied (74%), English-speaking (78%),...

The Supreme Court seemed ready to maintain a foreign income tax while simultaneously avoiding further discussion regarding the wealth tax. The Supreme Court case, centering around a provision in the 2017 tax bill, came to the forefront as conservative and liberal justices expressed concerns ...

U.S. Representatives Mike Gallagher (R-Wisconsin) and Abigail Spanberger (D-Virginia) reintroduced “Strengthening Supply Chains Through Truck Driver Incentives Act of 2022” to legislation to help solve Americas Truck Driver Shortage with a 2-year refundable income tax credit and incentiv...