A recent discussion has sparked interest in a potential change to capital gains taxes on home sales. The idea, floated by a prominent political figure, suggests eliminating these taxes entirely. This has led some to speculate about the implications for homeowners. Currently, capital gains taxes apply when a home is sold for more than it was purchased, after accounti...
The "big, beautiful bill" signed into law on July 4, 2025, is said to boost the economy and improve financial stability. However, a closer look shows it may widen the wealth gap, especially for low-income and minority communities. The racial wealth gap in the U. S. is already huge. Between 2019 and 2022, white families' median wealth was over $250, 000 more than Bla...
Health Savings Accounts (HSAs) are a rare win in the world of politics. They are supported by people from all sides and help people take control of their healthcare costs. The recent "Big Beautiful Bill" has made some improvements to HSAs, but there's still more to be done. In an ideal world, people wouldn't need special accounts to save for healthcare. The tax syst...
The recent tax bill signed into law has some surprising twists for private colleges. While big names like Princeton, MIT, and Harvard will see higher taxes on their endowment earnings, smaller schools with significant wealth are getting a break. This shift comes from a change in the rules that now exempts schools with fewer than 3, 000 students from the endowment tax...
The recent passage of a massive tax and spending bill has sparked a heated debate between Republicans and Democrats. Republicans are celebrating the bill's tax cuts and increased defense spending, while Democrats are criticizing the cuts to Medicaid and food stamps. The bill, which includes $4. 5 trillion in tax breaks, makes permanent the tax code changes from Trum...
When President Donald Trump put his signature on the so-called big, beautiful bill, everyone talked about the big changes. Tax cuts, cuts to Medicaid and food stamps, and more money for border security. But there's more to the story. The bill also includes some lesser-known items that might surprise you. First, let's talk about space. The space shuttle Discovery, wh...
This new bill from the Trump administration is a big deal. It’s all about cutting taxes, but it does so in a way that hits some people harder than others. The wealthy get more benefits, while those with lower incomes might struggle more. The bill extends tax cuts from 2017, but it also adds a huge amount to the national debt. So, what does this mean for you? If you ...
Mexico is facing a big problem with how much red and processed meat people eat. Experts say this isn't good for health or the environment. So, they're thinking about taxing meat to get people to eat less of it. First, let's talk about why this is important. Eating too much red and processed meat can lead to health issues. It's also not great for the planet. Cows and...
The US Treasury has made a request to Congress to eliminate a specific part of Donald Trump's budget plan. This part, known as Section 899, was meant to impose extra taxes on investments from certain countries. The Treasury believes this rule is no longer necessary because of a recent agreement with other major economies. The Treasury secretary, Scott Bessent, expla...
Reform UK has a new idea. They want to let non-doms, people who live in the UK but have a home abroad for taxes, pay a big fee. This fee is £250, 000. In return, they won't pay some UK taxes. This includes taxes on money made abroad, capital gains, and inheritance tax. The money from these fees would go to the lowest-paid workers. Reform UK thinks this could bring i...