Today news
About the same in other media
High-Income Business Owners Escape $10,000 Tax Deduction Cap Using Path Built by States, Trump Administration
Reading now: 526
wsj.comCongressional Democrats are debating whether increasing the $10,000 cap on the state and local tax deduction would benefit the rich too much, but some of America’s top earners—including private-equity managers and law firm partners—are already legally circumventing the cap on much of their income.
That is because state governments and the Trump administration blessed a cap workaround for owners of closely held businesses that is proliferating around the country. So far, about 20 states have enacted versions of it, including New York, California, Connecticut, New Jersey and Illinois.
Read more on wsj.comAbout this in other media
NatWest accepts $35m fine in guilty plea over Treasury market spoofing fnlondon.com /2 years ago
In an act of brazen treachery, Rishi Sunak is sabotaging Boris Johnson’s policies theguardian.com /2 years ago
Blockchain startup sues Brian Armstrong for allegedly stealing its work cointelegraph.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
