Tagged: taxes

August 19, 2026 @ 12:33 pm By JD Alois  |  

UHY Hacker Young Group, a UK accounting network, reports that in the past 12 months, HMRC has sent 81,000 warning letters to crypto investors, warning them they may have underpaid their taxes or not paid them at all. Last year, UHY said 65,000 crypto investors,… Read More

August 14, 2026 @ 12:15 pm By JD Alois  |  

Texas is one of the states growing rapidly, experiencing population migration as firms seek business-friendly jurisdictions. Texas is one of a handful of states without a state income tax. A recent ranking of states by overall tax burden ranked Texas 1st in the US for… Read More

August 12, 2026 @ 2:12 pm By JD Alois  |  

Capital gains taxes in the US are variable today. If you hold a security for less than one year, you are taxed as normal income. If you hold it for over one year, you are taxed at a graduated rate: 0%, 15%, or 20%, depending… Read More

August 10, 2026 @ 11:08 pm By Omar Faridi  |  

Thailand’s government has introduced a temporary tax relief measure designed to support cryptocurrency activity within its regulated financial system. The Finance Ministry confirmed that capital gains arising from crypto trading will be exempt from tax for a five-year period running from 1 January 2025 to… Read More

August 3, 2026 @ 7:19 pm By JD Alois  |  

The California Confiscation tax, which is slated to be on the ballot this coming November, has gained the support of the California Democrat party. This past June, the “billionaire tax” earned sufficient signatures to move the issue to a ballot vote, evading the state legislature…. Read More

July 3, 2026 @ 5:09 pm By JD Alois  |  

The State of Illinois has approved legislation that will dampen crypto activities in the state. The Digital Asset Privilege Tax Act, was signed into law by controversial Governor JB Pritzker. The legislation is part of the states’ budget for 2027. Beginning January 1, 2027, Illinois… Read More

June 19, 2026 @ 1:57 pm By JD Alois  |  

This week the State of California revealed that it had validated sufficient signatures to place the proposed confiscation tax on the ballot this coming November. This means the likelihood the abusive  tax will become law. The tax was created by several economists seeking to  generate… Read More

June 18, 2026 @ 12:05 pm By JD Alois  |  

The confiscation tax proposed in California has gathered enough signatures to place the issue on the November ballot. The tax initially targets wealthy individuals worth over $1 billion. As it is typical to have this type of wealth held in shares, frequently private shares with… Read More

June 3, 2026 @ 9:02 am By JD Alois  |  

Last week, Senator Elizabeth Warren stated in an Op-Ed that she wants to tax the development of artificial intelligence (AI) and “invest in people,” warning that AI will “break society, “creating a “permanent underclass.” In brief, Warren fears the creation of billionaires who are building… Read More

May 6, 2026 @ 11:36 am By JD Alois  |  

Recently, Zohran Mamdani, the mayor of New York City, used Ken Griffin as the backdrop for a video promoting the idea that wealthy New Yorkers need to be punished for their success. In a video, Mamdani criticized Griffin’s “pied a terre” as representative of the fact that… Read More

May 5, 2026 @ 10:58 am By JD Alois  |  

Last month, the European Union published a report on wealth taxation, a topic that has been front and center not only in Europe but in the United States. One portion of the discussion concerns how exit taxes could affect decisions to vote with your feet… Read More

April 28, 2026 @ 10:17 am By JD Alois  |  

The competition between states continues as millions of Americans migrate from high-tax states to lower-tax states and potentially lower-cost-of-living states. This is according to a recent report by the nonpartisan Tax Foundation, which reviewed publicly available information on tax filers. By using public data from the IRS, the… Read More

April 16, 2026 @ 12:42 pm By JD Alois  |  

This post on X distributed yesterday generated a good number of views. It includes a 2014 letter to the US Internal Revenue Service (IRS) that highlights the poor state of the US tax code. Donald Rumsfeld, an old pol who passed away in 2021, who… Read More

April 12, 2026 @ 2:40 am By Omar Faridi  |  

UK’s Starling Bank noted in a blog post that sole traders are increasingly relying on artificial intelligence to handle tax and accounting queries. According to fresh research from UK digital bank Starling, these AI focused trends are impacting the broader financial service sector as well…. Read More

April 7, 2026 @ 1:13 pm By JD Alois  |  

Top Fintech founder Mike Cagney took to X to slam Coinbase (NASDAQ:COIN) and its tax documentation process. Cagney founded two Fintech unicorns, SoFi (NASDAQ:SOFI) and Figure Technologies (NASDAQ:FIGR). In the US, tax filings are due this month on April 15th. Today, investment platforms automatically generate… Read More

March 29, 2026 @ 2:33 pm By Michael Wong  |  

Turkey’s parliament has dropped proposed cryptocurrency tax measures from a sweeping omnibus bill after opposition parties pushed back against the plan, Hurriyet Daily News reported. Lawmakers gathered under Deputy Speaker Celal Adan to debate the broad bill, which includes tax policy changes, defense spending measures… Read More

March 26, 2026 @ 2:48 pm By JD Alois  |  

A group of Democrat Senators and Representatives has joined to advocate for new taxes targeting wealthy individuals. The new legislation, designed to punish affluent citizens, aims to tax individuals who are worth more than $50. Senators Elizabeth Warren, Representatives Pramila Jayapal and Brendan F. Boyle,… Read More

March 24, 2026 @ 3:01 pm By JD Alois  |  

Various states continue to pursue self-damaging policies by chasing away innovators and investors with excessively high taxation. While many have warned policymakers against pursuing these harmful taxes, and Economic theory has long warned against punitive taxation, elected officials continue to do self-harm. Recently, it has… Read More

March 14, 2026 @ 4:04 pm By Omar Faridi  |  

Taxbit has shared that the European Commission has issued a clear interpretation of the DAC8 directive, emphasizing that tax reporting requirements for digital assets extend to every user residing in the European Union. Taxbit also indicated that this update, detailed on the Commission’s official DAC8… Read More

March 3, 2026 @ 6:14 pm By JD Alois  |  

A “wealth tax,” which is really a confiscation tax that seeks to tax unrealized capital gains, has never worked anywhere. Yet, some policymakers and special interest groups are pursuing this self-destructive policy with California leading the way. As California’s state budget is mired in debt… Read More