Professors Bridget Crawford and Victoria Haneman discuss the estate and gift tax and how it could apply to the gifts received by Supreme Court Justice Clarence Thomas. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This
Month: May 2023
A default on the nation’s debt, if Congress is unable to raise the federal debt ceiling in coming weeks, would boost mortgage rates by at least two percentage points and cause a slump in home sales as costlier financing puts real estate beyond the reach of more Americans, according to Jeff Tucker, a Zillow senior
Elon Musk told CNBC’s David Faber on Tuesday that he doesn’t care if his inflammatory tweets scare advertisers away from Twitter. “I’ll say what I want, and if the consequence of that is losing money, so be it,” said Musk, who owns Twitter. Musk replied defensively as Faber pressed him over a tweet Monday night
In this article VOD-GB Follow your favorite stocksCREATE FREE ACCOUNT Vodafone announced plans to cut 11,000 jobs as part of a turnaround plan from the company’s newly-appointed CEO Margherita Della Valle. Paul Hanna | Bloomberg | Getty Images Vodafone shares fell as much as 4% on Tuesday, after the British telecommunications firm announced plans to
In this article HZNP RH HD COF GEHC Follow your favorite stocksCREATE FREE ACCOUNT Horizon Therapeutics global headquarters in Dublin, Ireland. Nurphoto | Nurphoto | Getty Images Check out the companies making the biggest moves midday: Horizon Therapeutics — Shares of the biotech firm fell more than 15% after the Federal Trade Commission sued to
IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023. Al Drago | Bloomberg | Getty Images The IRS on Monday said that Black taxpayers are significantly more likely to face an IRS audit, confirming recent findings. IRS Commissioner Daniel Werfel said the agency is weighing changes
Charitable giving has long been essential to creating a better world by enabling donors to support causes by giving to organizations structured under Internal Revenue Code 501(c)3. Effective charitable planning and planned giving are crucial for maximizing the positive impact of these donations. With advances in artificial intelligence and natural language processing, tools like ChatGPT
Forbes Global Properties If a gated community with a guarded entry seems like a modern-day security measure, think again. Homes in a neighborhood in Alanya, a city in the Turkey province of Antalya, are surrounded by miles of medieval castle walls complete with watchtowers. Aerial view from the Citadel of Alanya on the Red Tower
Construction workers work on a home, as a subdivision of home is built in San Marcos, California, January 31, 2023. Mike Blake | Reuters Homebuilders are getting a big boost from the lack of existing homes for sale, and that appears to be outweighing some of the challenges they’re facing from financial markets. Builder confidence
A customer enters a Home Depot store on August 16, 2022 in San Rafael, California. Justin Sullivan | Getty Images Home Depot said on Tuesday that quarterly sales fell short of expectations and it lowered its forecast for the year, as consumers delay big projects and buy fewer big-ticket items like patio sets and grills.
In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled Annual Oversight of the Nations Largest Banks, in Hart Building on Sept. 22, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images JPMorgan Chase CEO Jamie
A billboard showing the debt limit is seen in Washington, D.C. on April 17, 2023. Mandel Ngan | AFP | Getty Images As lawmakers work to hammer out a debt limit deal, experts already say more needs to be done to curb the nation’s spending, and that could include Social Security and Medicare reform. The
When it comes to education, most financial planning is centered around ways to save and invest for college. This makes sense because in an ideal world, we’d all be able to cover all our education expenses that way and not need to borrow a dime. But in the real world, that’s rarely the case. Fortunately,
After conducting series of deep-dives in housing markets such as in Seattle, Denver, and Phoenix, for example, a general trend seems to be emerging. Major housing markets, like the three mentioned, and for this study — Las Vegas — all experienced supercharged housing activity from 2021 until mid-2022 and has since been cooling off a
Electric car maker Tesla CEO Elon Musk meets with French Minister for the Economy and Finances Bruno Le Maire on the sidelines of the 6th edition of the “Choose France” Summit at the Chateau de Versailles, outside Paris on May 15, 2023. Ludovic Marin | Pool | Via Reuters The U.S. Virgin Islands issued a
In this article SOFI DD SCHW SHAK Follow your favorite stocksCREATE FREE ACCOUNT Sopa Images | Lightrocket | Getty Images Check out the companies making the biggest moves in premarket trading: Shake Shack – The fast food chain saw its stock gain nearly 4% after the Wall Street Journal reported that activist investor Engaged Capital
Collectively, Americans owe nearly $1 trillion on credit cards. Total credit card debt stood at $986 billion at the start of 2023, unchanged from the record hit at the end of 2022, according to a new report on household debtfrom the Federal Reserve Bank of New York. Typically, balances fall in the beginning of the
The emergency declaration for Covid-19 expired on May 11, 2023—and it comes with some tax consequences. A lot changed during Covid-19, especially for employers. Some shut their doors forever, some closed temporarily, and still others modified their work model so that employees could work remotely. As employers scrambled to keep workers on the payroll, questions
In this article NGMS ALL-AU RSI Follow your favorite stocksCREATE FREE ACCOUNT Fanatics founder & CEO Michael Rubin at his office in downtown NYC, Dec. 7, 2022. The Washington Post | Getty Images Fanatics’ splashy $150 million acquisition of PointsBet’s U.S. business wasn’t the only deal in gambling in recent days — and it could
People queuing outside Shake Shack in London. Latest Covid-19 lockdown slams UK business owners. SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Shake Shack — The fast food chain’s stock jumped more than 6% after the Wall Street Journal reported that activist investor Engaged Capital is planning
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