Tax breaks and tax enforcement are not agnostic when it comes to race, according to a pair of recent studies. White taxpayers disproportionately benefit from five studied tax breaks versus Black Americans, in many cases when adjusting for income, according to a Treasury study from the Read More …
America’s progressive tax system is supposed to tax more as your income rises, with people with similar incomes paying the same rate. That’s not true, according to one tax lawyer and professor, who analyzed the history of the American tax system and how it can Read More …
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Now that college athletes can earn money off their name, image and likeness (NIL) after the NCAA adopted new rules in June 2021, they may find a costly surprise from Uncle Sam. Money made off of social media accounts and perks like free shoes, a clothing allowance, Read More …
Hello, gamers and social media influencers, the tax man is coming for your earnings. Donations, tips, subscriptions, partnerships, and merchandise revenue you made last year are all taxable income. And if it’s your minor son or daughter racking in the gains, you could be the Read More …