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“#De Blasio, Cuomo need to move aggressively to bring tourists back” In a grim report Wednesday, state Comptroller Tom DiNapoli cited jaw-dropping numbers to document the devastation wrought by the COVID-driven collapse in New York City tourism. From 2019 to 2020, he notes, Gotham lost nearly three-quarters of its tourist biz, costing it $1.2 billion…
“#Letters to the Editor — May 2, 2021” Limits of EMSAs a former volunteer with Emergency Medical Services, I have responded to quite a few calls involving Emotionally Disturbed Persons (“NYC expands no-police mental-health program,” April 27). I can tell you that EMS and social workers alone are not adequate for a lot of these…
“# Biden’s capital gains tax plan to pull crypto down to earth from the moon? ” There are often multiple causes for an asset’s sharp decline, but Bitcoin’s (BTC) 10% “nosedive,” which took place on April 22, may be blamed on the Biden Administration’s reported plan to tax capital gains at double the current rate…
“# UK revenue authority to target cryptocurrency tax evaders ” Her Majesty’s Revenue and Customs, the tax authority of the United Kingdom, will ramp up its efforts to snare cryptocurrency tax evaders in an attempt to uncover what it regards as hidden wealth, says U.K. accountancy group UHY Hacker Young. According to the group, the…
“#Biden unveils $1.8T families plan before infrastructure bill” President Biden on Wednesday rolled out the blueprint for another massive tax-and-spend bill, dubbed the American Families Plan, which would boost federal spending by $1.8 trillion through tax hikes on high-income Americans and investors. The package includes $511 billion for education, including universal preschool for 3- and…
“# Indonesian regulators consider tax on cryptocurrency transactions ” Indonesia’s Commodity Futures Trade Regulatory Agency (known as Bappebti) is considering levying a tax on all cryptocurrency transactions taking place on regulated exchanges within the country. Currently, 13 cryptocurrency exchanges fall under Bappebti’s regulatory oversight, and the tax would be automatically applied by these platforms should…
“# Crypto tax in South Korea is ‘inevitable’ in 2022, says minister ” Amid the growing opposition against the new cryptocurrency tax regime in South Korea, finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading starting next year. “It’s inevitable, we will need to impose taxes on gains from…
“# South Korean Prime Minister nominee to look into controversial crypto tax law ” Kim Boo-kyum, recently nominated as Prime Minister by South Korea’s President Moon Jae-in, has said he will look into the country’s crypto tax law. According to a report by KBS World, the Prime Minister nominee is keen to ensure that there…
“#War on tax deduction cap is dividing Democrats” The SALT showdown brewing in Congress over the question of removing a $10,000 cap on state and local tax deductions is roiling the Democratic party. The cap, a creation of President Trump’s Tax Cuts and Jobs Act of 2017, disproportionately affects New York and other blue states…
“# NFTs and US taxes: What you should know ” Seems like we now all have stories starting with, “What I did during the pandemic…” Most begin with cleaning out the closet and, hey, guess what? That’s where my story starts, but I bet you can’t guess where it ends! Let’s start with what I…