Money, Wealth & Power—A Daily Look at the Financial World
On November 14, 2025, a new capital gains tax ban was enacted by a state legislature, marking a notable shift in tax policy that mirrors previous restrictions and raises questions about broader adoption. This development, covered in recent reports, underscores how such measures are quietly gaining traction amid debates over investor incentives and state revenue….
A single ticket sold in Georgia has captured the $980 million Mega Millions jackpot from the drawing held on Friday, November 14, 2025. This marks a significant win as it is the first time the jackpot has been claimed after it climbed without winners in the previous drawing on November 8, 2025. The announcement, confirmed…
In 2025, high-income earners have several strategic options to maximize their charitable donations while optimizing tax benefits. With new tax rules in place, individuals can leverage specific financial tools and strategies to enhance the impact of their giving. This guide explores three effective methods that align with the latest regulations, ensuring that donors can make…
The IRS is currently dealing with a significant backlog of tax returns and related processes, a situation that has arisen in the wake of the longest government shutdown in U.S. history. This backlog is expected to take ‘2 to 3 months’ to resolve, causing delays for millions of taxpayers who depend on timely refunds and…
A federal judge has indefinitely prohibited President Trump from reducing federal funding to the University of California, following threats related to the university’s policies on a transgender athlete. This ruling, issued on November 14, 2025, prevents immediate financial cuts that could have severely impacted the university’s operations across its campuses. The decision reflects earlier judicial…
As cigarette taxes continue to rise across the United States, a significant shift is occurring in the tobacco market. Smokers are increasingly turning to black market sources to avoid the high costs associated with legal purchases, resulting in a substantial loss of revenue for state governments. A 2024 analysis highlights that cigarette smuggling is depriving…
The recent government shutdown has caused significant delays in the release of the October inflation report, leaving the Federal Reserve without crucial data needed for monetary policy decisions. The White House has indicated that the October jobs and inflation data might never be released, further complicating the Fed’s ability to analyze economic trends. This uncertainty…
Congress has recently passed the IRS Math And Taxpayer Help Act, a significant bipartisan initiative designed to address widespread taxpayer frustrations with the IRS’s handling of error notices, particularly those related to mathematical discrepancies on tax returns. This legislation, approved in late 2025, aims to modernize the IRS’s communication and resolution processes, potentially reducing unnecessary…
Withdrawing $10,000 or more in cash from a bank account is not just a simple transaction; it triggers mandatory reporting to the federal government. This requirement is part of U.S. financial regulations designed to monitor large transactions for potential illicit activity. When such a withdrawal occurs, banks are obligated to file a Currency Transaction Report…
As retirement planning becomes increasingly crucial, understanding which states offer tax-friendly environments for retirees can significantly impact financial stability. For those relying on Social Security, 401(k), IRA, or pension income, certain states provide a haven by not taxing these sources. This article explores eight states that offer such benefits, ensuring retirees can maximize their income…