Tag: Tax Credits, Deductions and Exemptions

When a Mortgage Is Part of Your Retirement Plan

There is no mistaking how Eric Markowitz feels about borrowing money: “I hate debt,” he said. Dr. Markowitz, a dentist in Washington, D.C., took out a mortgage to buy a home for his family, but that’s the extent of his borrowing. And he fully intends to have it paid off by the time he retires […]

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Stay-at-Home Parents Work Hard. Should They Be Paid?

ImageA 1976 poster by Jacquie Ursula Caldwell.CreditLibrary of Congress It’s not uncommon in the United States for two parents to spend long hours working hard — but the one who works outside the home is paid for it, while the one who does housework and child care is paid nothing. Now, several Democratic presidential candidates […]

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Jeffrey Epstein Raked In $200 Million After Legal and Financial Crises

Jeffrey Epstein’s biggest client had deserted him, his money management firm had lost more than $150 million during the financial crisis, and he was a registered sex offender. But after he started a new company with a wildly speculative business plan in 2012, Mr. Epstein had no problem pulling in cash. His start-up, Southern Trust, […]

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Tax Law’s Cap on State and Local Deductions Is Upheld by Court

Congress didn’t unconstitutionally penalize Democratic-leaning states when it imposed a cap on federal deductions for state and local taxes, a federal judge ruled Monday. The 2017 federal tax law, which President Trump signed after a party-line vote in Congress, limited to $10,000 the state and local tax payments that families can write off on their […]

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How One Address Led to a $100 Million Tax Credit Scheme

PEARL RIVER, N.Y. — In the summer of 2015, Jaguar Land Rover North America told state officials in New Jersey that it was considering moving to an office development in New York called Blue Hill Plaza. To keep the automotive giant’s headquarters in New Jersey, the state offered $26 million in tax credits. So Jaguar […]

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The Great Tax Break Heist

Tax scams are the tribute policy vice pays to policy virtue. A few days ago The Times reported on widespread abuse of a provision in the 2017 Trump tax cut that was supposed to help struggling urban workers. The provision created a tax break for investment in so-called “opportunity zones,” which would supposedly help create […]

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The Trump Associates Benefiting From a Tax Break for Poor Communities

President Trump has called it “the hottest thing going,” a multibillion-dollar tax break designed to channel investments into poor neighborhoods, leading to new housing, businesses and jobs. The tax benefit allows people to delay paying taxes on profits from stocks or other investments for years. To qualify, they have to direct their untaxed gains into […]

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As Mortgage-Interest Deduction Vanishes, Housing Market Offers a Shrug

PLAINFIELD, Ill. — The mortgage-interest deduction, a beloved tax break bound tightly to the American dream of homeownership, once seemed politically invincible. Then it nearly vanished in middle-class neighborhoods across the country, and it appears that hardly anyone noticed. In places like Plainfield, a southwestern outpost in the area known locally as Chicagoland, the housing […]

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What Kamala Harris Believes

LOS ANGELES — At her strongest, Senator Kamala Harris is forceful and pragmatic. She elates crowds in Iowa and South Carolina with her denunciations of President Trump, and spells out her policy agenda — on matters like restricting gun sales, reducing prescription drug prices and giving tax benefits to renters — in precise terms. Then […]

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Back-to-School Sales Tax ‘Holidays’ Lure Shoppers Despite Slim Savings

If you missed out on the blitz of deals offered early this week by many online retailers, don’t despair: There may be additional savings on the horizon, as more than a dozen states gear up for their annual summer sales tax “holidays.” This year, 16 states are offering back-to-school promotions, exempting many items, including clothing, […]

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22 States Considered Eliminating the ‘Tampon Tax’ This Year. Here’s What Happened.

Why are tampons taxed when Viagra isn’t? That’s the question at the heart of the push to repeal the so-called tampon tax, a catchy phrase that refers to state sales taxes applied to menstrual products, including pads and cups. Thirty-five states still tax the items, despite momentum to change that. Opponents of the tax argue […]

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De Niro and Netflix Bet That New York Can Be a New Hollywood

[What you need to know to start the day: Get New York Today in your inbox.] Steiner Studios opened along the Brooklyn waterfront in 2004 as the largest film studio outside Hollywood. Television and movie productions had fled New York City for cheaper locations, and the new studio was trying to ignite a turnaround. Nearly […]

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Can States Just Say No to Corporate Giveaways?

No place better illustrates the absurdities of the proliferating use of tax incentives for job creation than the Kansas City metro area, which straddles the Missouri-Kansas state line. Over the past decade, Missouri and Kansas have offered more than $330 million in tax breaks to lure companies back and forth across State Line Road. More […]

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Tesla Says Deliveries in Quarter Set a Record

Tesla delivered a record number of vehicles in the most recent quarter, the company said Tuesday. The electric-car maker said it delivered 95,200 autos, bettering the mark it had set in last year’s final quarter. Tesla’s chief executive, Elon Musk, said in an email to employees last week that the company would deliver 90,000 to […]

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One-on-One With Cory Booker

Listen and subscribe to our podcast from your mobile device: Apple Podcasts | Spotify | Google Play | RadioPublic | Stitcher Cory Booker has executive experience, bipartisan bona fides and a raft of ambitious policy goals. So why is the New Jersey senator running in the middle of the 2020 Democratic pack — and how […]

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Tesla, Facing Setbacks and Skeptics, Tries to Get Back on Course

Tesla’s Model 3 electric sedan was heralded this year by Consumer Reports as the most satisfying car on the market. Then owners started to complain that cars had arrived with cracked windows, leaks or unreliable video screens. In some places, Tesla turned to outside body shops to repair scratches and other paint defects before cars […]

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Cory Booker’s Housing Plan Offers Tax Credit to Millions of Renters

Senator Cory Booker of New Jersey on Wednesday unveiled a plan to tackle affordable housing that would provide a tax credit for renters to ensure they would not spend more than 30 percent of their income on rent — a sweeping new entitlement program that his campaign estimated would reach 57 million Americans, including 17 […]

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Why There Has Been a Surge in Single Mothers Who Work

ImageAn Amazon warehouse in Arizona. Moving inventory in warehouses was one of the fastest-growing categories of jobs for single mothers.CreditRalph D. Freso/Reuters Single mothers in the United States can face many barriers to employment, like finding affordable child care and predictable work schedules. For many, a sick child or a flat tire can mean a […]

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Kirsten Gillibrand Proposes Huge Investments in Maternal Health, Child Care and Education

Senator Kirsten Gillibrand’s presidential campaign on Wednesday introduced a proposal aimed at investing heavily in maternal and child health, adoption and in vitro fertilization, paid family leave and universal prekindergarten. The proposal, which Ms. Gillibrand called the “Family Bill of Rights,” continued her campaign’s focus on women and families. On Tuesday, she was among several […]

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