Taxes

The state of California says 10 Los Angeles marijuana dispensaries owe $14.4 million in taxes. A public auction was held to make up those fees with property seized from the businesses. But after the gavel was hit, the state only made $2,075, according to officials.Nine of the dispensaries were operating illegally, and one was a legal business but owed back taxes, the California Department of Tax and Fee Administration said in a news release announcing the public auction for the seized goods. This marked the first time…

The agency has been going on the offensive against the super-wealthy who have been cheating their way out of paying their fair share President Joe Biden and Democrats in Congress passed the Inflation Reduction Act in 2022, securing billions in funding for the Internal Revenue Service to bolster its ability to go after corporations and the super-wealthy. Republicans haven’t been happy — likely because they’re well aware of how the one-percenters they cater to have been able to skirt paying their fair…

If you purchase an independently reviewed product or service through a link on our website, Rolling Stone may receive an affiliate commission. The IRS has begun accepting tax returns, and you can file yours early to avoid the panic of running right up to the deadline. If you’re filing your taxes online for the first time, we’ve collected all of the information and resources you’ll need to get it done quickly, easily, and inexpensively. When Is Tax Day 2024? The last day to submit your taxes on…

If you purchase an independently reviewed product or service through a link on our website, Rolling Stone may receive an affiliate commission. Tax Day is coming up fast, and it’s always best to be prepared in advance. If you’re a habitual late-filer, you might want to keep in mind that the last day to submit your taxes on time (also known as tax day) is Monday, April 15, 2024.  But doesn’t mean you have to push off filing your taxes to the last minute — with the right tools and software, filing your taxes…

It’s indisputable that the decline of state fiscal management in California began with the passage of Proposition 13 in 1978. The tax-cutting initiative upended the tax structure that provided most of the revenues needed by localities and school districts, undermining the locals’ control of their own spending. It was sold to voters as relief for beleaguered middle-class homeowners, but that was largely a scam: The chief beneficiaries have been the richest homeowners and commercial and industrial property owners, who have…

Jeff Bezos and Lauren Sanchez walk in the Paddock prior to final practice ahead of the F1 Grand Prix of Miami at Miami International Autodrome on May 06, 2023 in Miami, Florida. Clive Mason | Formula 1 | Getty ImagesJeff Bezos' $2 billion stock sale last week came with an added perk: no state taxes.Last year, Bezos announced on Instagram that he was leaving Seattle after nearly 30 years to move to Miami. He said the move was to be closer to his parents and his rocket launches at Blue Origin. The timing also suggested…

The city of Brighton is about to get a little greener. This week, the Brighton City Council voted 7-2 to allow recreational marijuana shops for the first time. The council-approved ordinance allows for the establishment of four stores, with two of the licenses reserved for social equity applicants. Applications open March 1. This will be the first time Brighton, which is located primarily in Adams County, has ever allowed cannabis businesses within city limits, despite the fact that recreational weed has been legal in…

For years, American popular culture has churned out ultra-dramatic scenarios about the rise of artificial intelligence. In James Cameron’s 1984 sci-fi flick The Terminator, AI system Skynet becomes sentient and launches a nuclear war against humans, directing cyborgs to wipe out humankind. But here in the real world, AI is coming for a decidedly more tedious part of modern life: tax filing. And America’s young adults are leading the charge in embracing this change.Some 70% of Gen Z American adults, who range in age from…

Photo: BRENDAN SMIALOWSKI/AFP (Getty Images)A single man is responsible for leaking the tax information belonging to Donald Trump, Elon Musk, Jeff Bezos, and others. Trump’s tax information was leaked to the New York Times and became the basis for a big story, while Bezos and Musk had their financial information handed over to ProPublica, which similarly reported on the documents. Is Threads a Threat to Twitter? | Future TechThe “Deep Throat” behind the leaks is Charles Littlejohn, 38, who formerly worked as a contractor…

James Royal, Ph.D. | Bankrate.com (TNS) If you’re an investor, be sure to give special attention to the taxes you’ll have to pay on your investments. In many cases, you have ways to legally reduce, defer or even eliminate taxes on your investment gains and keep more of your profits. So it pays to know the smartest ways to minimize your taxes and keep more of your money working for you. Here are some of the best ways to keep taxes low on your investment income. How your investments are taxed The Internal Revenue Service…