Parents and grandparents give a great deal to their children and grandchildren. One of the most tangible legacies they can give is generational wealth. When passing down wealth, most people want to avoid taxation as much as possible, so as to give the maximum amount to their heirs. Estate Tax Exemption An estate tax is…
Finding Financial Insights in Your Tax Return
Every year, every American that earned money is required to file taxes. Whether you are an individual who only receives income from an employer, a side hustler who earns a little more on the side, or a full-time business owner with a registered business, you can find some interesting insights into your business by reviewing your taxes. Start…
Tax and Retirement Consequences of Biden’s 2023 Budget Proposal
As part of the Biden administration’s fiscal year 2023 budget proposal, aka the Green Book, for the Treasury Department, Janet Yellen testified before the Senate Finance Committee and the House Ways and Means Committee in early June 2022. Her first stop was the Senate Finance Committee, where she testified on June 7 at a hearing on “The…
Venmo, PayPal and Zelle®: New Tax Reporting Rules
Venmo, Zelle®, and PayPal are familiar online payment platforms. They are peer-to-peer payment apps that allow you to transfer money. Some people use them to pay family and friends. Others use them to make business transactions. What are these payment apps, and when you use them, can your transactions be taxed? Increased Tax Reporting on Payment…
If the IRS Calls, Don’t Answer: Don’t Get Hooked by Common Scams
Every year, various types of scams make their appearance. Scammers successfully steal millions of dollars annually through cleverly designed efforts to fool the unaware. Since COVID-19, the IRS has sent out multiple warnings that scammers are more active than ever. Recently, the IRS warned consumers to beware of three types of scams. If you’re waiting…
Michael Avenatti Pleads Guilty to Fraud, Tax Charges After Swindling Clients out of Millions of Dollars
Convicted lawyer Michael Avenatti on Thursday pleaded guilty in a federal court in Southern California to multiple fraud charges in a case in which he is accused of stealing nearly $10 million from multiple clients. Avenatti pled guilty to four counts of wire fraud and one count of endeavoring to obstruct the administration of the Internal Revenue Code, and admitted to…
4 Quarterly Tax Reporting Mistakes You Don’t Want to Make
Most entrepreneurs don’t get too excited about filing taxes. Self-employment taxes can be high and it can also be a challenge to keep all your financials organized throughout the year. The fact that you might have to pay taxes four times a probably won’t help your enthusiasm either. Paying taxes are inevitable though, and you’ll…
McDonald’s Pays $1.3 Billions to End French Tax Spat
McDonald’s is to pay $1.3 billion to end a tax dispute with France. That was according to a judge on Thursday (June 16). The case centered on allegations first made in 2014 that the burger chain diverted profits made in France to other countries to pay lower taxes. McDonald’s French headquarters were investigated as part…
Indonesia to Cut Maximum Palm Oil Export Tax and Levy to a Combined $488 per Tonne—Trade Minister
June 8, 2022
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Asia & PacificBusiness & Marketscommoditieseconomic policieseconomyexportIndonesiaMarketsOilpalmtaxWorld
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JAKARTA— Indonesia Trade Minister Muhammad Lutfi said on Tuesday the government would bring down its combined maximum crude palm oil export and levy rate to $488 per tonne from $575 per tonne to encourage shipments. Indonesia, the world’s biggest palm oil producer, has allowed palm oil exports to resume after a three-week ban, but progress…
Indonesia to Cut Maximum Combined Palm Oil Export Tax and Levy: Trade Minister
June 8, 2022
admin
Asia & PacificBusiness & Marketscommoditieseconomic policieseconomyexportIndonesiaMarketsOilpalmtaxWorld
0 Comment
JAKARTA—Indonesia will slash its combined maximum crude palm oil export and levy rate to $488 per metric ton from $575 to encourage shipments, Trade Minister Muhammad Lutfi said on June 7. Indonesia, the world’s biggest palm oil producer, has allowed palm oil exports to resume after a three-week ban, although progress has been slow due…
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