The Motley Fool

MARCH 29, 2024

Image source: The Motley Fool/Upsplash Sometimes filing taxes as a single person can feel like cooking for one: not a lot of easy savings. But there are still some good tax breaks for single people. Let's look at a few tax strategies that single filers can use to reduce their federal income tax bill.

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The Motley Fool

MARCH 23, 2024

Image source: The Motley Fool/Upsplash New York is known for being a high-tax state because it charges state income tax. The top New York state tax bracket for 2023 is 10.9% -- but you won't have to pay that rate unless your income is over $25 million. This can be a big advantage!

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The Motley Fool

FEBRUARY 18, 2024

By the end of 2018, Berkshire had racked up just shy of 1 billion shares. Apple has become Berkshire's largest holding because the buying spree between 2016 and 2018 proved to be a genius move. between the end of 2018 and Feb. Since it is a relatively small amount, my guess is that this may have been tax-related.

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The Motley Fool

MARCH 13, 2024

Many new and used EVs (and some plug-in hybrids) qualify for EV tax credits that can give you a significant discount at the dealership. Let's look at a few ways to maximize your EV tax credits and get a better price on buying a car in 2024. But many new EVs don't qualify for the full $7,500 EV tax credit.

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The Motley Fool

DECEMBER 31, 2023

Image source: Getty Images Itemizing tax deductions lost its luster for most taxpayers with the passage of the Tax Cuts and Jobs Act of 2017. The law nearly doubled the standard deduction, which is the amount any taxpayer can subtract from their tax bill, regardless of their actual expenses. Rising interest rates.

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The Motley Fool

OCTOBER 4, 2024

Although Buffett values the respective competitive advantages these two core holdings bring to the table, he opined during Berkshire Hathaway's annual shareholder meeting in May that tax implications may be playing a role in this selling activity -- at least when it comes to Apple. This favorite stock in question is none other than.

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The Motley Fool

SEPTEMBER 25, 2024

Earlier this year, Buffett was asked that question at Berkshire's annual meeting, and he attributed the decision to a probable increase in the corporate tax rate in the future. federal government has run a historic deficit in recent years, and Buffett believes higher taxes will be used to remedy the situation at some point.

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The Motley Fool

JANUARY 6, 2024

Since 2018, though, they can also be used to pay for up to $10,000 in private elementary and high school tuition. The best thing about 529 plans is that they're tax-advantaged. You can't deduct contributions to a 529 plan from your federal income taxes. Many states also offer tax deductions or credits for contributions.

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The Motley Fool

AUGUST 10, 2024

He views the current tax code for corporations as very favorable, and he's willing to pay taxes now, so he can avoid higher taxes later. That said, it's one thing to strategically take capital gains to lock in a low tax rate. That's the smallest amount since the change in the repurchase authorization in 2018.

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The Motley Fool

DECEMBER 26, 2023

Image source: Getty Images Itemizing deductions can be a good strategy to reduce your tax bill -- but only if your itemized deductions add up to a bigger number than your standard deduction. Most taxpayers end up being better off taking the standard deduction, and about 90% of tax returns do this, according to IRS data.

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The Motley Fool

DECEMBER 22, 2023

Not only do the holidays inspire goodwill and cheer, but many people are interested in writing off their donations as we close out the tax year. But there's also a lot of confusion about charitable donations and when you can write them off for tax purposes. To write off a charitable deduction, you'll need to itemize your tax return.

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The Motley Fool

SEPTEMBER 30, 2024

Buffett has said that the decision to sell portions of Berkshire's investments in stocks like Apple or Bank of America is based on the idea that corporate tax rates will rise when the current tax law expires at the end of next year. But last quarter's repurchases slowed to a snail's pace, totaling just $345 million.

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The Motley Fool

JUNE 5, 2024

From 2018 to 2023, Altria's annual cigarette shipments declined from 109.8 in 2018 to 42.1% To maintain a favorable tax rate, they need to pay out at least 90% of their taxable earnings as dividends. But despite those strengths, I wouldn't touch Altria with a 10-foot pole because its core market is stuck in a secular decline.

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The Motley Fool

OCTOBER 7, 2024

The investor first accumulated shares of the largest hotelier in the world in 2016, but it wasn't until 2018 that he had an opportunity to establish a significant position in the stock during the market downturn. Its loyalty program has grown from 80 million, when Ackman invested in 2018, to over 195 million today.

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The Motley Fool

JULY 23, 2024

A premium to book value of around 30% has also marked a top for BofA's stock on numerous occasions since the start of 2018. Since the start of 2018, a steady stream of share repurchases has allowed BofA to reduce its outstanding share count by 24.42%, including a 2.16% reduction over the trailing year. million shares.

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The Motley Fool

APRIL 27, 2024

You can't get electric vehicle tax credits" There's been a lot of media headlines about electric vehicle tax credits of up to $7,500 for the purchase of a new EV. But did you know: some hybrid cars can also qualify for EV tax credits? Here are a few, according to the U.S.

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The Motley Fool

MAY 17, 2024

Based on admissions by Buffett during his company's latest annual shareholder meeting, he and his top investment aides (Todd Combs and Ted Weschler) sold about 13% of their company's leading position in tech stock Apple (NASDAQ: AAPL) for tax purposes in the March-ended quarter. billion , as of the closing bell on May 10. That's right.

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The Motley Fool

FEBRUARY 8, 2024

Supreme Court ruled against the ban in May 2018, giving states the power to decide if they want to legalize and regulate sports betting in their respective jurisdictions. Given the appeal of sports betting tax revenue, it seems like it's only a matter of time before the last dozen states hop onboard. until the U.S. billion and $3.72

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The Motley Fool

SEPTEMBER 25, 2024

2018 2% 2017 0.3% The wage cap is rising for 2025 You may not realize it, but not all earnings are taxed for Social Security. There's a cap beyond which earnings aren't taxed. This means that someone earning $168,600 and someone earning, say, $33,168,600, will pay the same amount in taxes to Social Security.

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The Motley Fool

NOVEMBER 4, 2024

The Oracle of Omaha noted that he expects the corporate tax rate to eventually rise. Prior to the midpoint of July 2018, Berkshire's chief was only allowed to buy back his company's stock if shares fell to or below 120% of book value (based on the most recent quarter). Things changed in a big way on July 17, 2018.

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The Motley Fool

SEPTEMBER 28, 2024

Between 2018 and 2020, for instance, it steadily decreased from $4,647 per month to $4,561 per month, and there was also a slight dip from 2022 to 2023. This limit is the highest income subject to Social Security taxes, and for 2024, it's $168,600 per year.

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The Motley Fool

OCTOBER 12, 2024

Each year, the Social Security Administration collects taxes on your wages. That's because Social Security caps the amount of wages you pay taxes on in any given year. If you don't pay taxes on the wages, they don't count toward your earnings history. For 2025, the earnings limit will be $176,100.

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The Motley Fool

JULY 2, 2024

Unlike income tax , for 2024 the Social Security Administration stops taking out additional Social Security taxes once your earned income exceeds $168,600. Because taxing any degree of your income beyond that amount wouldn't make your monthly payments any bigger once you claim retirement benefits. There are limits, though.

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The Motley Fool

SEPTEMBER 16, 2024

For example, he put a lot of money into Apple (NASDAQ: AAPL) between 2016 and 2018, spending around $36 billion on that stock over the period. Buffett's stated reasoning for that move was that he wanted to take advantage of the current corporate tax rate. It wouldn't make sense to sell an asset well below its value to save on taxes.

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The Motley Fool

JUNE 20, 2024

Wood's case for her $2,600 price target largely revolves around Tesla's robotaxi business, which she predicts will account for 63% of Tesla's revenue and 86% of its earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2029. However, Wood was able to see through that, and the company's fortunes changed for the better.

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The Motley Fool

SEPTEMBER 27, 2023

Year Max Monthly Social Security Benefit 2014 $3,425 2015 $3,501 2016 $3,576 2017 $3,538 2018 $3,698 2019 $3,770 2020 $3,790 2021 $3,895 2022 $4,194 2023 $4,555 Data source: Social Security Administration. The chart below shows how the maximum Social Security benefit has changed over the last decade. But there is a caveat.

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The Motley Fool

NOVEMBER 3, 2024

This is the maximum amount of your income subject to Social Security payroll taxes each year. Since you don't pay Social Security payroll taxes on any income above the wage base limit, those earnings are also not considered when calculating your monthly benefit.

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The Motley Fool

NOVEMBER 25, 2023

Step 2: Earn the maximum taxable amount each year If you want the maximum Social Security retirement benefit, you have to pay the maximum Social Security tax for at least 35 years. Social Security taxes only apply to applicable wages earned up to a certain value each year. Every year, that number is adjusted for inflation.

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The Motley Fool

NOVEMBER 8, 2024

Buffett told shareholders he's taking advantage of the current tax law to realize capital gains at a lower tax rate. The current corporate tax rate is set to revert from 21% to 35% after 2025. It doesn't make sense to sell an asset well below intrinsic value just to save on taxes.

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The Motley Fool

JULY 20, 2024

But from 2018 to 2023, its revenue still rose at a compound annual growth rate (CAGR) of 20% as its earnings per share ( EPS ) increased at a CAGR of 27% -- even as the broader market was disrupted by the pandemic, supply chain issues, and macro headwinds. As a linchpin of the global semiconductor market, ASML has cyclical growth.

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The Motley Fool

NOVEMBER 6, 2024

Here's the salary you need to get the maximum benefit Most people pay Social Security taxes on their entire paycheck during their career. But high earners might not pay the tax on every penny they earn. Any amount earned above that cap won't incur taxes, but it also won't count toward your earnings history.

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The Motley Fool

FEBRUARY 7, 2024

From 2018 to 2022, PDD's revenue rose at a compound annual growth rate (CAGR) of 78%, and analysts expect it to continue expanding at a CAGR of 46% from 2022 to 2025. From 2018 to 2022, Celsius' revenue rose at a CAGR of 88%. However, it's growing a lot faster than both of those market leaders.

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Private Equity Insights

AUGUST 16, 2023

The deal marks a win for private equity firm Rhone Capital, which took Fogo de Chão private for $560m in 2018. Private equity firm Bain Capital on Tuesday agreed to buy Fogo de Chão, in a deal people familiar with the matter said valued the Brazilian steakhouse chain at about $1.1bn, including debt.

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The Motley Fool

OCTOBER 7, 2024

We're still early in the sports betting world It wasn't until May 2018 that the U.S. It expects its fiscal 2025 adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) to be between $900 million and $1 billion, and that profitability should continue. Since then, the number of U.S. Image source: Statista.

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The Motley Fool

DECEMBER 28, 2023

The company hasn't increased its payment every year, but it has grown the payout at a 6% compound annual pace since 2018. The company is paying about 10 times estimated 2024 earnings before interest, taxes, depreciation, and amortization ( EBITDA ) for these assets. times in 2018. dividend yield. billion to $6.8

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The Motley Fool

OCTOBER 5, 2024

With the program's monthly payments being capped at $4,873, to avoid penalizing you by withholding benefits you'd otherwise be paying for, the Social Security Administration (SSA) also caps how much of your income it taxes. This year's maximum taxable income is $168,600.

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The Motley Fool

JULY 3, 2024

The answer is that only some income is subject to Social Security payroll tax, and only the same amount of income is considered when Social Security benefits are calculated. Income above that amount is not subject to Social Security payroll tax, nor is it included in the benefits formula.

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