While most states rely heavily on three sources of taxes, many of the lowest-tax states for residents generate tax revenue in ways that do not financially burden those residents in a direct way.
Q: My wife and I own our home jointly. The home has appreciated substantially in the 25 years we have owned it to the point that when we sell, we will net more than $500,000 in profit. That means, we’ll likely owe some tax.
Q: My partner and I plan to purchase a duplex with friends. We would live on one side, and our friends (who already own their forever home) would rent out the other side. Eventually we plan to purchase a home for ourselves and rent out both sides of the duplex.
Many taxpayers who use tax preparation services such as H&R Block and TurboTax say their second relief payments were sent to the wrong bank account.
Deeds said he realizes an income tax increase for higher earners would be a tough sell amid a pandemic, statewide elections and with every seat in the House of Delegates up in November.
Charlottesville was fortunate enough to have a budget surplus for the most recent fiscal year. Council is gleefully anticipating how to spend it as quickly as possible.
Seeing as the heat capacity of CO2 is less than that of nitrogen and oxygen, it seems highly unlikely that CO2 — being just 400 parts of a million — would have a measurable effect on the rest.
Despite the pandemic — and Albemarle County ending fiscal year 2020 with an operating budget deficit — there is still about $7.5 million that …
Q: We’re a French family moving back to France next year. I read that a married homeowner who has lived in his principal residence for two out of the last five years is entitled to exclude from federal income taxes up to $500,000 in profits.
White collar staff reaping the benefits of working from home should be taxed to help other workers not getting the same advantages, a report says.
CLAIM: By reversing President Donald Trump’s tax cuts, Democratic presidential nominee Joe Biden would raise taxes on 82% of Americans.
Question 2 asks voters whether a car or pickup truck owned and chiefly used by a 100% service-disabled veteran of the U.S. armed forces or the National Guard should be exempt from state and local taxation.
TRUMP on his taxes: "They keep talking about $750, which I think is a filing fee. ... Tens of millions of dollars (in income taxes) I prepaid.…
Distributions from 529 accounts owned by grandparents count as the student’s income in the year of distribution. This may prevent the child from qualifying for financial aid.
PENCE: “Joe Biden wants to go back to the economic surrender to China, that when we took office, half of our international trade deficit was w…