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Who pays tax on gains in my child's investment account?

Who pays tax on gains in my child’s investment account?
Updated 5:30 AM;
Q. My daughter’s Vanguard UTMA has about $22,000 in Admiral shares with a $14,000 long-term gain and $700 short term gain if sold today. What is the tax treatment federally and for the state? Does she have to claim it on her tax returns or is there a way for me to claim it if I have long- and short-term capital losses carried forward to offset them? She has no income and will be 21 in a few months.
Mom
A. This can be a tricky question.
If you opened a UTMA account for your daughter, she is the account owner and as the owner, she would be taxed on the gains from any sales. You are only the custodian. ....

New Jersey , United States , New Providence , Patricia Daquila , Peapack Private Wealth Management , புதியது ஜெர்சி , ஒன்றுபட்டது மாநிலங்களில் , புதியது ப்ராவிடெந்ஸ் , பீப்பாக் ப்ரைவேட் செல்வம் மேலாண்மை ,

Will a retirement withdrawal affect my unemployment benefits?

Will a retirement withdrawal affect my unemployment benefits?
lehighvalleylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lehighvalleylive.com Daily Mail and Mail on Sunday newspapers.

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Big Tech battles back as bond yields ease

Big Tech battles back as bond yields ease
foxbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foxbusiness.com Daily Mail and Mail on Sunday newspapers.

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Advisers express skepticism about Warren's wealth tax

Advisers express skepticism about Warren’s wealth tax
The measure faces a difficult legislative journey in a narrowly divided Congress, even if it becomes part of a reconciliation bill that can be approved by a simple majority in the Senate.
March 1, 2021
3
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Investment advisers are wary of wealth tax legislation introduced Monday by Sen. Elizabeth Warren, D-Mass., and other bicameral Democratic lawmakers, expressing skepticism that it would make the economy fairer and warning that it could be difficult to implement.
The Ultra-Millionaire Tax would impose a 2% annual tax on the net worth of households and trusts worth between $50 million and $1 billion, and a 3% tax on those of more than $1 billion. ....

United States , Rhode Island , New York , Miller Chevalier , Brendan Doyle , Ed Markey , Kashif Ahmed , Jeff Merkley , Pramila Jayapal , Elizabeth Warren , Herschelv Clanton , Joe Biden , Marc Gerson , Mazie Hirono , Sheldon Whitehouse , Brian Schatz , Kirsten Gillibrand , Bernie Sanders , Senate Democrats , Means Committee , Senate Finance Committee , House Budget Committee , House Ways Means Committee , Ultra Millionaire Tax , House Ways , Chancellor Wealth Management ,

How will our N.Y.C. pensions be taxed if we move to N.J.?

How will our N.Y.C. pensions be taxed if we move to N.J.?
Updated Feb 22, 2021;
Q. My wife and I are considering moving from New York City to New Jersey. We earn $110,000 from our New York City pensions that are excluded from state and city taxes. How much extra state tax from New Jersey would we expect to pay annually if we move to New Jersey?
Thinking about it
A. There are a few items to consider here.
As a New Jersey resident you are taxed on your income regardless of which state it’s from.
Your New York pension is not excluded and would be taxable on your resident New Jersey return once you move here, said Cynthia Fusillo, a certified public accountant with Peapack Private Wealth Management in New Providence. ....

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