Is California looking to tax retirement accounts? Experts push back on claims
At issue is a measure called the Retirement and Personal Savings Protection Act, one of several initiatives tied to the billionaire’s tax debate.
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Will new tax on ultra-luxury NYC homes derail red-hot demand?
The proposed tax would apply to second homes valued above $5 million, with higher rates for properties exceeding $15 million and $25 million.
What Washington state agents are seeing with new ‘millionaires tax’
The law imposes a 9.9% tax on annual income above $1 million, with implementation expected in 2028 pending legal challenges.
No exodus after all? Manhattan luxury market sales accelerate under Mamdani
With Zohran Mamdani mayor and debate over a possible city wealth tax or property tax increase, market data shows no sign of a luxury exodus.
New deduction may lower seniors’ Social Security tax burden
For some retirees, the change could eliminate federal income taxes entirely, although many were already exempt from Social Security taxes.
New York and DC homeowners set for biggest savings from SALT cap hike
The change, part of President Trump’s “One Big Beautiful Bill Act,” raised the deduction limit from $10,000 to $40,000.
Los Angeles ‘mansion tax’ fuels record affordable housing funding
Most of the money — $316 million — comes from Measure ULA, a transfer tax on property sales above $5 million that voters approved in 2022.
Outdated tax law could cost senior homeowners looking to sell
The home equity tax law hasn’t been updated since 1997, meaning senior homeowners could pay a sizable chunk in taxes when they go to sell.
Where — and for whom — Trump’s higher SALT deduction cap has the most impact
Capping the SALT deduction effectively raises people’s taxes, but it doesn’t impact every taxpayer equally.
What’s the best strategy for seniors to take required minimum distributions?
Derek Horstmeyer, a finance professor at George Mason University, gamed out three different but common strategies on RMDs in a column published by The Wall Street Journal.