A Sold sign in front of a home under construction at the Waterways subdivision in Gulf Shores, Alabama, US, on Friday, Dec. 6, 2024. Micah Green | Bloomberg | Getty Images Real estate experts are weighing in on a potential end to capital gains tax on home sales — as floated by President Donald Trump…
Speaker of the House Mike Johnson, R-La., speaks to reporters as he walks back to his office as the House of Representatives waits to vote on President Trump’s “big beautiful bill” reconciliation package on July 3, 2025. Bill Clark | CQ-Roll Call, Inc. | Getty Images A massive package of tax cuts championed by President…
Senate Majority Leader John Thune (R-SD), flanked by Sen. John Barrasso (R-Wyoming), Sen. Mike Crapo (R-Idaho) and Sen. Lindsey Graham (R-SC), speaks to reporters after the Senate passed President Trump’s reconciliation package on July 1, 2025. Bill Clark | Cq-roll Call, Inc. | Getty Images Tax cuts are the centerpiece of a massive legislative package…
Speaker of the House Mike Johnson, R-La., speaks to the media after the House narrowly passed a bill forwarding President Donald Trump’s agenda at the Capitol on May 22, 2025. Kevin Dietsch | Getty Images As Senate Republicans debate trillions of tax breaks advanced by the House, some business owners could be blocked from part…
Nitat Termmee | Moment | Getty Images How to tell if you have qualified business income The QBI deduction applies to so-called pass-through businesses, which report profits or losses on individual tax returns. This includes partnerships and S-corporations, along with some trusts and estates. Sole proprietors, such as freelance, contract and gig economy workers, also…
House Speaker Mike Johnson speaks to the media after the House narrowly passed a budget bill forwarding President Donald Trump’s agenda at the U.S. Capitol in Washington, May 22, 2025. Kevin Dietsch | Getty Images There’s a stark contrast between high-earners and low-income households in a sprawling legislative package House Republicans passed on Thursday. The…
Banksphotos | E+ | Getty Images Megan Moritz bought her dream house in 2019. However, the 1,400-square-foot home, in the Arlington Heights suburb northwest of Chicago, was built in the 1930s and lacked insulation — leading to heating bills that were “very high,” said Moritz, 48. The first-time homeowner opted to pay about $5,700 for…
The Port Newark Container Terminal in Newark, New Jersey, March 3, 2025. Kena Betancur/View Press | Getty Images News | Getty Images Tariffs on Canada and Mexico took effect Tuesday — and they’re bound to raise prices for consumers, sometimes in unexpected ways, according to economists. Tariffs are a tax on foreign imports, paid by…
The US Treasury building in Washington, DC, US, on Monday, Jan. 27, 2025. Stefani Reynolds | Bloomberg | Getty Images The U.S. Department of the Treasury on Sunday announced it won’t enforce the penalties or fines associated with the Biden-era “beneficial ownership information,” or BOI, reporting requirements for millions of domestic businesses. Enacted via the…
Speaker of the House Mike Johnson (R-LA) leaves after the House passed Republicans’ budget resolution on the spending bill on Feb. 25, 2025 in Washington. Kayla Bartkowski | Getty Images News | Getty Images As Congress debates how to handle trillions of dollars in expiring tax breaks, lawmakers on both sides have been lobbing claims…
