Grayscale is examining the potential tax consequences associated with spot Bitcoin (BTC) exchange traded funds (ETF) after inaccurate reports of adverse tax implications began circulating. In a series of posts on While we work to obtain appropriate regulatory approvals for uplisting $GBTC According to NYSE Arca, we are considering the possible tax implications for spot … [Read more…]
The White House this week issued new guidance on federal electric vehicle (EV) tax credits, including a key exemption that is seen as a win for many automakers because it offers companies trying to set up battery production operations in the U.S. additional time to make the transition native minerals. The U.S. Treasury Department announced … [Read more…]
Half of the profits of low-tax multinationals are made not in countries known for favorable taxation, but in those that theoretically have high tax rates, according to a study published Tuesday by the OECD. The cause is not questionable tax regulations, but rather political measures, such as research credits or various tax advantages given to … [Read more…]
The hefty housing tax increase has not gone down well with Montreal residents, many of whom are harshly critical of their city’s management of public finances. • Also read: Budget 2024: a record tax increase for Montrealers, but no spending cuts for the city “It doesn’t make sense, especially when we start our family. It’s … [Read more…]
More than three-quarters of small and medium-sized business (SME) owners in Quebec hope municipalities will limit the rise in property taxes for businesses after they struggled to repay their debts due to the pandemic. This is according to a survey released on Tuesday by the Canadian Federation of Independent Business (CFIB). About 53 percent of … [Read more…]
Quebec taxpayers will benefit from a spectacular provincial tax cut of around $3.9 billion in 2023, thanks to a 1 percentage point reduction in the first two tax brackets and the tax system’s hefty indexation. When you file your 2023 Quebec tax return, you will be able to assess the “fair value” of this tax … [Read more…]
The Internal Revenue Service announced its annual inflation adjustments last week. The IRS issued a press release describing the 2024 tax year adjustments that generally apply to income tax returns filed in 2025. The following points are from the press release and are of greatest interest to most taxpayers, according to the IRS: The standard … [Read more…]
New York (CNN) — If you like to plan your taxes in advance, the IRS this week released the new inflation-adjusted income tax brackets and standard deduction amounts that will apply for the 2024 tax year. Translation: These are the numbers that will be relevant to the tax return that most Americans will file in … [Read more…]