分组1 - New York City Mayor Zohran Mamdani's budget proposal includes a potential 9.5% increase in property taxes if income taxes on the wealthy are not raised [4][5] - The proposal has sparked criticism, particularly from investors like Kevin O'Leary, who argue it could drive wealthier residents out of the city and exacerbate migration trends to lower-tax states like Florida [2][3] - The tax hike would impact over 3 million residential units and more than 100,000 commercial buildings, affecting not only wealthy residents but also middle-class New Yorkers with a median income of $122,000 [3][4] 分组2 - The ongoing debate about whether America's ultra-rich are paying their fair share of taxes is highlighted, with a focus on the tax treatment of capital gains and real estate investments [5][6] - Real estate remains a favored asset class for the wealthy due to its favorable tax treatment, including deductions for expenses and depreciation [6][8] - Crowdfunding platforms like Arrived and Mogul are emerging, allowing non-millionaires to invest in real estate with lower capital requirements, thus democratizing access to this asset class [9][11]

KEY TAKEAWAYS The "One Big, Beautiful Bill" is expected to lower the amount owed and increase refunds for 2025 taxes, which are filed in 2026.Preliminary data on the 2026 filing season show tax refunds are higher than at the same time last year.The IRS is falling behind on processing tax returns compared to the 2025 filing season. Tax refunds so far this filing season are higher than last year. The "One Big, Beautiful Bill," passed in July, made more than 100 changes that impact 2025 taxes, which are f ...

In July, we passed the largest tax cuts in American history, including no tax on tips, no tax on overtime, no tax on social security for our great seniors. >> President Trump made a lot of proclamations about tax policy in his campaign and now throughout his administration. And it's very important for taxpayers to check what the president has said.What the tax breaks do is reduce your taxable income and perhaps you will pay less tax, but it's not an outright elimination of tax for any of those things. >> Mo ...

Group 1 - President Trump predicts the "largest tax refund season ever" due to legislative reforms that have increased household cash flow [1] - The "One Big Beautiful Bill" is a comprehensive four-year legislative package aimed at stabilizing the U.S. economy [2] - Trump sets a bold economic growth target of 15%, dismissing traditional models that view 3% GDP growth as sufficient [3] Group 2 - The tax policy is framed as a catalyst for unprecedented national growth, with Trump suggesting potential growth rates of 15% to 20% [4] - The "100% immediate expensing" provision of the bill is credited with an estimated $18 trillion in domestic investment, enhancing U.S. manufacturing and AI capabilities [4] - As of the latest data, the Dow Jones index has risen 3.73% year-to-date, while the S&P 500 is up 1.22%, indicating positive market performance [5]

Filing Your 2025 Taxes — The Biggest Changes You Need To KnowTaxpayers should prepare for major tax-policy shifts this year. Forbes’ expert contributors explain how — and when — key rule changes may affect you.Read more: https://t.co/VjqmElc6IZ https://t.co/R3u8n8UKpm ...

Core Insights - The 2026 Tax Policy Outlook indicates that recent tax changes are transitioning into an implementation phase, with significant adjustments to corporate taxes and global tax frameworks Group 1: Tax Changes and Provisions - Bonus depreciation and targeted expensing are reinstated, allowing 100% upfront deductions for qualified manufacturing facilities placed in service before January 1, 2031, enhancing incentives for domestic production [2] - Additional IRS guidance is required to clarify eligibility and scope for properties qualifying under these provisions, indicating uncertainty among practitioners [3] - The corporate alternative minimum tax is being narrowed through guidance, with exemptions for specific sectors like insurance, shipping, and utilities, as well as the exclusion of unrealized cryptocurrency gains [4] Group 2: IRS Challenges and Enforcement - The IRS workforce has declined by approximately 25% to around 75,000 employees due to early retirements and resignations, leading to challenges in enforcement capacity and guidance issuance [6] - Ongoing turnover and funding uncertainties, along with potential legal battles and government shutdowns, may impact the IRS's operational effectiveness in 2026 [7] Group 3: Ongoing Litigation - Several significant multibillion-dollar transfer pricing disputes involving major companies such as 3M, Meta, Airbnb, and Coca-Cola remain unresolved, highlighting the complexity and scale of these legal matters [8]

Company Insights - Microsoft is viewed as an attractive investment due to its significant growth potential, particularly with the integration of AI technologies like co-pilot, which is expected to be ubiquitous across various applications [2][3] - Amazon is highlighted for its dominance in online retail, processing four out of every $10 spent online, and is expected to benefit from increased efficiency and productivity through AI, leading to improved margins in the long term [4][5] - GE Aerospace is mentioned as another investment pick, although specific details on its performance or outlook were not provided in the discussion [5] Market Drivers - The economy and markets are anticipated to be driven by three main factors: tax policy, monetary policy, and labor productivity, with a bullish outlook on these elements [6] - Labor productivity has shown a notable increase, with a growth rate of 4% in the last two quarters, and the break-even job replacement number has significantly decreased to 35,000 from 250,000, indicating a healthier job market [7] - Tax policy changes are expected to inject approximately $790 billion into the economy this year, largely due to overwithholding and lower taxes, which is comparable to the stimulus provided during COVID [8][9] Earnings Performance - A strong earnings season is underway, with 80% of companies reporting earnings that exceed expectations, indicating a positive trend not only among major tech companies but also across a broader range of firms [10]

Filing Your 2025 Taxes — The Biggest Changes You Need To KnowTaxpayers should prepare for major tax-policy shifts this year. Forbes’ expert contributors explain how — and when — key rule changes may affect you.Read more: https://t.co/VjqmElc6IZ https://t.co/9brqgAJI8R ...

Economic Outlook - The new Fed chief is focused on lowering interest rates to manage national debt, with $10 trillion needing to roll over in the next year [2][4] - Inflation indicators show gold and copper prices near all-time highs, while the dollar has fallen to a four-year low, suggesting inflation may be rising [2] Federal Reserve and Interest Rates - There is a belief that the Fed's long-standing view that economic growth causes inflation is incorrect, leading to current inflation issues [3] - Concerns are raised about the impact of rising interest rates on government payments, with mortgage rates doubling from 3.5% to 7% [4] Consumer Sentiment and Spending - Despite low consumer sentiment at a 12-year low, consumer spending remains strong, potentially influenced by media coverage [8] - The economic press may negatively affect consumer sentiment, creating a self-fulfilling prophecy [9] State Taxation and Migration - New York City is facing a fiscal crisis, with a proposed tax increase on the top 1% to address a $12 billion budget gap [10] - New York State saw only 1,080 new residents added last year, with a significant outflow of residents, indicating a trend of migration away from high-tax areas [11][12] Technological Change and Labor Markets - Concerns are raised about government intervention in response to AI disruptions in labor markets, emphasizing that disruption does not equate to destruction [16] - Historical context shows that technological advancements have led to increased productivity without resulting in mass unemployment, but the speed of change with AI is a new challenge [17][19]

Taxpayers should prepare for major tax-policy shifts this year. Forbes’ expert contributors explain how—and when—key rule changes may affect you. https://t.co/VjqmElcEyx ...