The surge in bitcoin prices to record highs has created a frenzy among investors, but it has also sparked concerns among tax professionals about the implications on tax reporting. With the demand for spot bitcoin exchange-traded funds on the rise, bitcoin reached an all-time high of $73,000, showcasing a year-to-date increase of over 50%. However,
Wealth
Calls for a wealth tax on the world’s super-rich are once again gaining attention after U.S. President Joe Biden said he would impose a new “billionaire tax” on the country’s wealthiest if re-elected in November. Outlining his 2025 budget proposals on Monday, Biden took aim at the uber affluent and reiterated plans for a 25%
Recently, there has been an increase in charitable donations, but this surge in giving is accompanied by a concerning trend of a decreasing number of donors. A study conducted by Altrata reveals that ultra-high-net-worth individuals, those with a net worth of $30 million or more, now contribute to a significant 38% of all individual giving
The current political landscape in the United States has put a spotlight on proposed tariffs and how they could potentially affect American consumers. Both President Joe Biden and former President Donald Trump have expressed their support for tariffs, which are essentially taxes imposed on imported goods from other countries. This has led policy experts to
The Internal Revenue Service (IRS) has recently launched Direct File, a free tax filing program that aims to provide American taxpayers with the option to file their taxes directly with the IRS. This program is currently in its pilot phase in 12 states and is open to taxpayers with simple tax situations. The launch of
Meenakshi Sai, a 51-year-old Indian woman, defies the norm of her country by embarking on epic road trips since the young age of 18. In a country where less than 7% of drivers are women, Sai stands out as a trailblazer who enjoys the freedom and independence that driving provides. After her daughter left for
AirAsia’s founder and CEO, Tony Fernandes, is no stranger to stirring up controversy with his social media posts. His unfiltered approach to sharing moments from his professional life has garnered mixed reactions from the public. Fernandes claims that transparency is the key to his social media strategy, even if it means facing potential backlash. One
Barbara Corcoran, a well-known investor on ABC’s “Shark Tank,” believes that the key to a successful life is the ability to learn from failures. According to Corcoran, being able to bounce back from mistakes is essential for achieving success. She emphasizes that recovering from failure is a significant component of life, with 95% of it
In recent years, the number of family offices around the world has seen a dramatic increase, with the total figure tripling since 2019. According to a recent report by Preqin, there are now over 4,500 family offices globally, with North America leading the way with 1,682 offices. Furthermore, family offices in North America hold more
The process of obtaining civet cat coffee, also known as kopi luwak, has long been a subject of controversy due to the inhumane treatment of the Asian palm civet. Recent footage released by People for the Ethical Treatment of Animals (PETA) revealed the harsh reality faced by these animals in Bali. The undercover investigation showed