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During a Senate Finance Committee hearing last week, Sen. John Thune (R-SD) questioned witnesses about savings accounts and the tax code. <br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/><br/>Stay Connected<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com
⏲ 5:42 👁 5K
Almost 130 nations commit anew to save global tax deal on high earning multinational firms <br/><br/>
⏲ 0:33 👁 5K
Use our guide to decide which assets belong in a taxable account and which go into a tax-advantaged account.
⏲ 1:59 👁 5K
America will have over 700,000 EV fast chargers by 2030 <br/>
⏲ 5:45 👁 5K
In this episode, I expose the truth behind our taxing system here in the United States of America. Here's the link to the fuel taxes in the united states from Wikipedia:<br/><br/>https://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States<br/><br/>The rest can be found by doing a Google search.
⏲ 31:13 👁 5K
Use our guide to decide which assets belong in a taxable account and which go into a tax-advantaged account.
⏲ 1:59 ✓ 02-Jun-2024
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
⏲ 1:29 ✓ 01-Jun-2024
Tax credits for energy-efficient home improvements are extended and expanded by the Inflation Reduction Act.
⏲ 2:28 ✓ 29-May-2024
The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.
⏲ 1:29 ✓ 29-May-2024
Russia’s elite to possibly face higher income tax<br/>
⏲ 0:24 ✓ 29-May-2024
Budget introduces green tax on petroleum products<br/>Excise duties on alcohol, beer and tobacco have been increased. The customs duty on the import of skimmed milk has been reduced to 1 percent.
⏲ 3:23 ✓ 29-May-2024
BIR says illicit trade severely affected tobacco excise tax collection<br/> <br/>
⏲ 2:35 ✓ 28-May-2024
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