Tag

Capitalgains

All articles tagged with #capitalgains

Reforming Home Sale Taxes to Support Senior Homeowners and Boost the Housing Market

Originally Published 5 months ago — by Business Insider

Joel and Kathryn Friedman, a retired couple in California, are hesitant to sell their large home due to potential $700,000 in capital gains taxes, which has delayed their downsizing plans. The current tax threshold has not changed since 1997, leading to more homeowners being taxed as home prices rise. Proposed bipartisan reforms aim to increase the tax exemption, potentially encouraging more home sales and easing housing shortages, especially in expensive markets like California.

business real-estate capitalgains downsizing homeowners housingmarket real-estate taxreform

"Billionaires Seek Supreme Court Backing to Protect Trillions in Untaxed Fortune"

Originally Published 2 years ago — by Rolling Stone

A report by Americans for Tax Fairness reveals that the wealthiest American families have $8.5 trillion in untaxed capital gains, highlighting the vast wealth inequality in the U.S. The Supreme Court is set to hear a case, Moore v. United States, which could impact the ability to tax these gains and potentially block efforts to implement a federal wealth tax. The case is supported by billionaire-backed think tanks and could have significant implications for tax law and the financial obligations of the ultra-wealthy.

business economy-and-business billionaires capitalgains economy-and-business supremecourt taxreform wealthinequality