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The Latest Breaking News from Income Tax

Is Your Roth IRA Still Protected From Estate Taxes in 2025?

For years, many people assumed that passing down a Roth IRA to their heirs was a tax-friendly move that wouldn’t trigger hefty estate taxes. But as tax laws evolve, so does the answer to whether your Roth IRA is still protected from estate taxes in 2025. Roth IRAs remain attractive…

The Free Financial Advisor

What’s the secret to fixing the UK’s public finances? Here’s what our panel of experts would do

Unexpected growth in the UK economy isn’t enough to detract from the gaping hole in the country’s public finances. Speculation is ramping up about what steps the chancellor of the exchequer, Rachel Reeves, might take to plug the gap come the budget in autumn – and there are no shortage…

The Conversation

Ask the Editor, August 15: Tax Questions on the OBBB, Tax Rates

In this week's Ask the Editor Q&A, we answer tax questions from readers on the OBBB and changes, if any, to tax rates.

Kiplinger

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Another State Eliminates Capital Gains Tax in 2025: What’s Next?

Could a major tax shift in one state be an example for other states to follow?

Kiplinger

What a $100K Salary Looks Like After Taxes in Your State

A six-figure salary is a goal for many people. However, even if you have gotten to a place in you're life where you're making a six-figure salary, you might be taking home a lot less after taxes,...

GOBankingRates

What the OBBB Means for Social Security Taxes and Your Retirement: A Wealth Adviser's Guide

For Americans in lower- and middle-income tax brackets, the enhanced deduction for older people reduces taxable income, shielding most of their Social Security benefits from being taxed.

Kiplinger

Ask the Editor, August 8: Tax Questions on Roth IRA Conversions

In this week's Ask the Editor Q&A, we answer tax questions from readers on converting a traditional IRA to a Roth IRA.

Kiplinger

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Voices: ‘The fairest way’ or a ‘political disaster’? Readers split on whether Reeves should raise income tax

YOUR VIEWS: Our community is split over whether raising income tax is the fairest way to plug Britain’s £50bn budget gap or a risky move that could harm growth and Labour’s political standing

The Independent UK

Gold and gated communities: How rich India’s hoarding fuels inequality

Jo bhi hai wo theek hai, zikra kyon karenHum hi sab jahaan ki, fikra kyon karen.– Sahir Ludhianvi, Phir Subah Hogi, 1958. Truth, when repeated often enough, starts sounding very banal. It just doesn’t register. Take this sentence: India is an economically unequal country. The evidence is all around us, and…

Newslaundry

Dire economic crosswinds mean Rachel Reeves must raise income tax

THE INDEPENDENT VIEW: Editorial: Despite interest rates being brought to their lowest level in more than two years, a combination of meagre economic growth, high government spending and U-turns over proposed welfare cuts has trapped Labour in a fiscal straitjacket. But the chancellor must remember that good policy is good…

The Independent UK

Todd Jewell's Insights On Why Moving to Knoxville is a Smart Step to Unlock a Better Quality of Life

Tennessee's lack of state income tax and low property taxes make the cost of living significantly more affordable compared to many other cities. Yet Knoxville isn't just about savings.

International Business Times

Rachel Reeves needs to put up taxes to cover £40bn deficit, thinktank says

NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap

The Guardian - UK

8 Places to Retire Where You’ll Actually Keep More of Your Money

When people think about retirement, they often imagine beaches, golf courses, and time with grandkids—not tax brackets, health care premiums, and housing costs. But where...

Saving Advice

Some taxes are inefficient at any level. Even modest reforms will help

Australia’s tax system has come under scrutiny again ahead of the government’s reform roundtable later this month. Economists argue we could raise the same revenue with less economic harm by relying more on efficient taxes and less on inefficient ones.

The Conversation

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GOBankingRates

5 Things the Wealthy Should Do To Prepare for Trump’s Income Tax Plan

Trump's "One Big Beautiful Bill," recently signed into law, overhauls the federal tax code and reshapes how high earners manage wealth, investments and planning

GOBankingRates

Who Would Benefit the Most From Trump’s Proposed Income Tax Plan?

While some economists have questioned the viability of this plan, if it were to happen, here's who might benefit most from the tax plan, according to experts.

GOBankingRates

I Asked ChatGPT What Would Happen if Trump Ended Income Taxes — There’s Good News and Bad News

Trump’s plan to replace income taxes with tariffs -- per a tax policy breakdown by ChatGPT -- could raise prices, slash federal revenue and widen inequality.

GOBankingRates

What Trump’s Income Tax Plan Means for the Economy and Your Wallet

While the idea of eliminating income taxes sounds appealing to a lot of people, here's what replacing those taxes with tariffs could mean for the economy and your wallet.

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Reason

The IRS Is Now 25 Percent Smaller (and, Hopefully, Less Dangerous)

We still need real tax reform and much lower federal spending.

GOBankingRates

Great for Retirees: 12 States With Low Taxes and Low Cost of Living

Here are a dozen states that offer the best of both worlds for retirees who are looking to relocate.

The Guardian - AU

The Productivity Commission has proposed a ‘cashflow tax’ for business. What does that mean?

The fact businesses cannot deduct financing costs means companies like coalminer Adani would not be able to avoid paying virtually any tax

GOBankingRates

5 Countries With the Most Wealth Equality

In the U.S. News & World Report ranking of income equality in 89 countries, the U.S. came in at No. 24. The following five countries came in on top.

Clever Dude

6 Retirement Accounts That Penalize for Early Access Without Warning

Saving for retirement is a big deal. You work hard, put money away, and hope it grows. But what if you need that money before you turn 59½? Many people don’t realize that some retirement accounts hit you with penalties if you take money out early. These penalties can shrink…

Kiplinger

Georgia Could Be Latest State to Eliminate Income Taxes

Eliminating the Georgia state income tax: Last-minute summer trend or permanent policy?

The Guardian - AU

The biggest voices need to admit Australia is a low-taxing nation before joining the economic reform conversation

Acoss’s new report factchecks some myths about Australia’s tax system and should be the basis of any discussion at the government’s roundtable

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