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Ringing in the New Year with New Laws in 2015 Here is a sampling: California, many starting on January 1 that include: A new provision allowing drivers licenses for undocumented immigrants. Paid sick leave for retail, fast food and other service-industry employees. According to the Daily Herald, over 200 new laws will take effect in 2015 in Illinois that include: “Ban the Box” prohibiting questions about criminal history on an initial job application. Adding the gray wolf, American black bear and cougar to the list of protected species in Illinois. From the Albany Business Journal, new l...

Those taxes? >> yes. anybody making more than $400,000 will see a small to a significant tax increase. if you make less than $400,000, you won't see one single penny in additional federal tax. >> you didn't get a single republican vote for tax cuts. how are you going to get a republican vote for a tax increase? >> oh, i may not get it, but i'll get the democratic votes for a tax increase. >> reporter: as for this year's taxes? the irs tonight announcing it will delay the april 15th filing deadline to may 17th, giving taxpayers an extra month to respond to a host of pandemic-related tax changes...

To embed, copy and paste the code into your website or blog: The Democrats now have effective control over the presidency, the Senate, and the House, at least until the 2022 mid-term elections. These political realities, along with current economic conditions, make it more likely that significant changes to the existing income, gift, and estate tax regimes are imminent, if not this year, then at least before the end of 2022. The possibility of these changes makes 2021 an opportune time to review and potentially implement estate planning strategies, which could save your family millions of dol...

The Globe and Mail Brenda Bouw Published January 6, 2021 ROMAN/iStockPhoto / Getty Images Financial advisors with clients who are U.S. persons living in Canada need to prepare them for potential tax changes under president-elect Joe Biden’s administration, which is set to take over the White House later this month. While the likelihood of a divided Congress is expected to dampen or even diffuse some of the tax hikes proposed in the Democrat’s campaign platform, it’s a good time for American ex-pats, particularly the wealthy, to think about their holdings and restructure them as neede...

The History Of Income Inequality And Popping Economic Bubbles  Share   Share Source: AP Photo/Elise Amendola In a significant study by economists Thomas Piketty and Emmanuel Saez, they explain the economic impact historically on capital and upper income Americans: We find that top capital incomes were severely hit by major shocks in the first part of the century.  The post-World War I depression and the Great Depression destroyed many businesses and thus significantly reduced top capital incomes.   The wars generated large fiscal shocks, especially in the corporate sector that mechanical...