Money, Wealth & Power—A Daily Look at the Financial World
For self-employed workers and small business owners, the home office tax break can turn a spare room or corner desk into real savings at filing time. The rules are strict, but when you meet them, you can write off part of your housing costs and other expenses tied to working where you live. I will…
The new federal tax break for older Americans was billed as a simple way to help retirees keep more of their income. Instead, the $6,000 senior deduction has landed in the middle of a fierce debate over fairness, fiscal risk, and who really benefits. As the 2026 filing season approaches, many retirees are discovering that…
Side hustles have shifted from fringe gigs to a core income source for millions of Americans, and the tax system is racing to catch up. The Internal Revenue Service is zeroing in on this booming stream of earnings, using new data tools and reporting rules to match what platforms and payment apps show against what…
President Donald Trump is leaning hard on tax policy to bolster household finances, and his Treasury chief is promising that the payoff is about to show up in Americans’ bank accounts. Treasury Secretary Scott Bessent is touting what he calls record tax refunds for working families, framing the coming filing season as proof that the…
Tesla has confirmed that it paid no federal income tax on $5.7 billion in United States profits in 2025, despite reporting billions in domestic earnings and enjoying strong demand for its electric vehicles. The result is not an accounting error but the product of a corporate tax system that allows highly profitable companies to drive…
President Donald Trump is turning a massive legal clash with the tax authorities into a political and public relations spectacle, floating the idea of settling his $10 billion claim and handing the money to charity. The president has framed the lawsuit as a test of government accountability after the leak of his tax returns, while…
Across the country, conservative lawmakers and anti-tax activists are mounting an aggressive campaign to erase property tax bills for homeowners, recasting one of the most stable pillars of local finance as an unacceptable burden. The push stretches from the Plains to the Southeast, with proposals that range from gradual exemptions to sweeping constitutional bans and…
Calls to tax second homes more heavily usually come from housing campaigners and local officials, not from the people who own the keys. Yet one particular kind of second home owner has spent years insisting that the bill should be bigger, not smaller. The argument is simple: if you can afford a vacation mansion, you…
President Donald Trump has opened a new front in his long running battle over his finances, filing a lawsuit that seeks at least 10 billion dollars from the Internal Revenue Service and the Treasury Department. The complaint accuses federal officials of failing to protect his confidential tax information and allowing it to leak to news…
New rules for charitable giving in 2026 are quietly turning donations into one of the most efficient ways to boost your refund. Two fresh tax breaks, layered on top of a stricter regime for high earners, mean everyday taxpayers can get more back while directing money to causes they care about. Used strategically, these changes…