Many seniors are missing out on a key rule for their retirement savings. They are not taking out the required minimum distributions, or RMDs, from their accounts. This oversight leads to unnecessary tax penalties. The IRS has set rules that once someone hits a certain age, they must start withdrawin
In 2026, if you use your personal car for work, you might notice a small change in your tax deductions. The IRS has decided to increase the standard mileage rate for business use to 72. 5 cents per mile. This is a 2. 5 cent increase from the previous year. The change is based on data analysis and in
California is home to many crypto billionaires. A new tax plan has them talking about leaving. A union proposed a 5% tax on assets for residents worth over $1 billion. This could bring in up to $100 billion. The tax would also include a one-time fee of $1 billion for those worth over $20 billion. Th
The IRS recently shared some interesting findings. They looked at who is reporting crypto taxes. It turns out, most of these people are young and don't earn a lot. They also don't bother with itemizing deductions. This group seems to be typical retail investors. Here's something to consider: a simp
Starting in 2026, Michigan is rolling out a bunch of new laws that will affect everyday life. From higher wages to stricter rules on ticket sales, these changes aim to address current economic and social issues. One big change is the new 24% wholesale tax on recreational marijuana. This is on top o
California is considering a new tax plan. It would target the state's billionaires. The idea is to tax their wealth, not their income. This has sparked a heated debate. Some people support the tax. They argue that billionaires' wealth has grown a lot in recent years. A one-time 5% tax would not hur
Kansas politics in 2025 had its share of ups and downs. Lawmakers chose to cut income taxes instead of reducing property taxes, even though they had promised to do the latter. This decision left many homeowners with only small savings, while future budget surpluses were earmarked for further income
New Mexico is making a bold move to become a leader in quantum technology. The state is offering a $50 million tax refund over three years to attract and grow quantum companies. This isn't just about money; it's about positioning New Mexico as a hub for cutting-edge tech that could shape the future.
In December, Britain's manufacturing sector showed some signs of improvement, but the overall outlook remains uncertain. The S&P Global Purchasing Managers' Index (PMI) for manufacturing rose to 50. 6, up from 50. 2 in November. However, this was lower than the initial estimate of 51. 2. This increa
Canada's music scene is facing some big changes in 2026. Let's dive in. First up, the Online Streaming Act is causing quite a stir. This law, updated in 2023, requires big streaming platforms to pay a portion of their Canadian earnings to support local content. Platforms like Spotify and Netflix ar
