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Added on the 10/10/2019 00:00:00 - Copyright : France 24 EN
"We’re working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom," says US Treasury Secretary Janet Yellen in remarks to the Chicago Council of Global Affairs think tank. SOUNDBITE
Business Insider contributor Kevin Panitch has a high-deductible health plan, and uses a health savings account, or HSA, to pay for medical costs. However, he was unaware for some time that the humble HSA is actually a hat trick of tax advantages. That's because the IRS allows the money in HSAs to be invested, and it grows tax-free. You can make tax-free contributions, and you can also make tax-free withdrawals to cover qualified medical expenses. If you use the funds after age 65 for non-medical expenses, you just pay normal taxes on the money. The account essentially becomes a second 401(k). Panitch wasn't alone in thinking that he could only 'save' the money in his HSA. In fact, only about 4% of people with these accounts invest the money!
On Tuesday Deutsche Bank said working from home should be taxed to help support people on low incomes who cannot do their jobs remotely People choosing to work from home despite their company providing a permanent desk should pay the tax. According to Business Insider, that would be 5% of their salary. The report argued that if companies do not offer permanent desks, they should pay instead, the report argued. Deutsche said the tax could raise $49 billion per year in the US, $23.6 billion in Germany, and $9.3 billion in the UK.
The European Commission has put forth proposals to force large companies to publicly disclose tax and financial data. As Sonia Legg reports, it's an effort to eliminate tax schemes costing European Union states billions of euros in lost tax revenues.
Donald Trump Jr. arrives at New York City courtroom for civil fraud trial as New York's attorney general Letitia James has accused former US President Donald Trump, his sons Eric and Don Jr and other executives of colossally inflating the value of their real estate assets in order to receive more favorable bank loans and insurance terms. IMAGES
Former US President Donald Trump returns to a New York City courtroom for his civil fraud trial. He is expected to face off with his former lawyer and confidant Michael Cohen. Trump and his two eldest sons are accused of vastly inflating the value of the Trump Organization's real estate assets to receive more favorable bank loans and insurance terms. IMAGES
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