NEW DELHI/MUMBAI : Lenders to embattled telecom operator Vodafone Idea Ltd are examining the company’s spectrum dues, subscriber losses and weak user revenue before deciding on its request for a fresh loan of ₹35,000 crore, a person involved in the discussions said. An external techno-economic viability (TEV) study done in 2024 to examine Vodafone Idea's creditworthiness will be updated with new projections, and a fresh TEV will not be done, the person said on condition of anonymity. The update will also ta ...

Core Insights - The family is focused on funding their daughter's medical school while also considering the wife's early retirement [3][5][6] - They have a solid financial foundation with no debt and significant savings, including $700,000 in brokerage accounts and $1.8 million in retirement accounts [2][5] - The family is concerned about the potential financial burden of medical school on their daughter and the implications of early retirement for the wife [3][6] Financial Situation - The family has approximately $700,000 in brokerage accounts and $1.8 million in retirement accounts, along with a 529 plan for their daughter with a balance of $100,000 [2] - They track their finances meticulously and have no debt, paying all credit card balances in full each month [2] Retirement Considerations - The wife, currently 56, is considering early retirement, which may require private medical insurance until she qualifies for Medicare [5][6] - The volatility of health insurance premiums and the expiration of enhanced premium tax credits are significant factors in planning for retirement [6] - It is advised to plan for unexpected expenses and inflation, as the purchasing power of money will decrease over time [5][6]

"No Tax on Tips" Bill Overview - The "No Tax on Tips" provision in the "One Big Beautiful Bill" allows tipped employees to deduct up to $25,000 from their federal tax filing each year, starting in 2025 and lasting through 2028 [1][6] - Individuals earning $150,000 or joint filers earning $300,000 are disqualified from this deduction [6] - The IRS has provided penalty relief for the tax year 2025 as taxpayers adjust to the new policy [9] Potential Benefits - The provision is projected to increase average take-home pay for tipped workers by $1,300 per year [2] - Small businesses may benefit from improved employee retention, as replacing a tipped employee is estimated to cost around $8,000 [14][15][16] - Nevada, with approximately 25% of its workforce in tipped jobs, stands to benefit significantly [11][12][13] Criticisms and Concerns - 37% of tipped workers may not benefit as they already face zero federal income tax burden [4] - Low-income households may not benefit and could be negatively impacted by Medicaid and other social services cuts associated with the bill [5] - The policy exacerbates the existing tipping system, which is viewed negatively by nearly 90% of Americans who believe tipping has gotten out of control [3][4] - Experts argue that the bill creates unequal tax treatment compared to other professions [17] - The policy excludes auto gratuities and service charges, which could be shared with the entire staff, not just customer-facing employees [26][27] Alternative Solutions - Some suggest increasing the minimum wage to provide more stable earnings for low-income workers [20] - Eliminating the subminimum wage is proposed as a way to address wage inequality [22] - Innovative pay models, including auto gratuities and service charges, are being explored to ensure fair wages while allowing businesses to thrive [25][26]

The bosses of some of Britain’s biggest companies predict a fresh wave of challenges next year, as they absorb the impact Chancellor of the Exchequer Rachel Reeves’ tax-raising budget in November https://t.co/zIgEj02a3w ...

Updated postmark rules are redefining what we think of as “on time.” This could have big implications for year-end givers and for taxpayers at tax time. https://t.co/8FRhh7i4EP ...

Indonesia is seeking to plug an unusually deep revenue shortfall before year-end by scrutinizing wealthy individuals and big businesses for extra tax payments. https://t.co/WbBEpBqbb6 ...

Indonesia is seeking to plug an unusually deep revenue shortfall before year-end by scrutinizing wealthy individuals and big businesses for extra tax payments. https://t.co/E24CvJiqva ...

Tax Policy & Reform - The discussion revolves around potential tax reforms, specifically addressing loopholes that allow the wealthy to avoid taxes, such as the death tax (estate tax) [1][2] - Closing tax loopholes for the ultra-wealthy could significantly contribute to funding the government, addressing national debt, and maintaining entitlements [1] - The current tax code allows some wealthy individuals to avoid paying taxes by living off loans, which are secured by their assets [5][6] - There's a sentiment that the tax system is rigged, leading to distrust in government and a feeling of unfairness, especially among younger generations [9][11][13] - Past efforts to reform the tax code and address entitlement issues have failed due to political gridlock and resistance from various constituencies [1][13] Wealth & Income Disparity - The disparity in wealth and the perception that the ultra-rich are not paying their fair share of taxes fuels anti-capitalist sentiment [8] - Examples like Jeff Bezos taking a $4,000 child tax credit when worth $18 billion highlight the perceived unfairness of the tax code [3] - The wealthy can avoid taxes by not selling stock and living off loans, effectively being subsidized by those with W2 income [5][7] Political Landscape - Republicans have historically been resistant to raising new revenue through taxes [1] - There is little appetite in Congress to adjust taxes, with past attempts to close loopholes being easily squashed [1] - The government's priorities, such as raising taxes on university endowments, may not align with public sentiment [13]

Tax Obligations - Companies controlled by Ricardo Salinas Pliego will face a multibillion-dollar tax bill in January [1] - The companies must pay the tax bill or face consequences [1] Government Stance - Mexico's President Claudia Sheinbaum stated the companies must pay the tax [1]

British businesses enjoyed the sharpest pick-up in new work in more than a year, according to a survey that suggests firms were buoyed by an end to months of speculation around tax hikes in the budget https://t.co/FOpy0PINOF ...