Industry Overview - Sports betting is one of the fastest growing industries in America, dominated by DraftKings and Flutter Entertainment (parent of FanDuel) [1] Legislative Change - A provision in the budget bill changes the way gambling income is taxed [2] - The change is located on page 237 of the 870-page bill [2] Tax Implications - Current law allows deduction of gambling losses from winnings, taxing only net winnings [3] - Starting next year, only 90% of gambling losses can be deducted [4] - Example: With $1,000 winnings and $1,000 losses, only $900 in losses can be deducted, resulting in taxes on the remaining $100 [4]

The Social Security Administration said the bill ensures most Social Security beneficiaries will no longer pay federal income taxes on their benefits. Instead, the bill provides a temporary tax deduction some are calling a "senior bonus." https://t.co/hwyiwzimvJ ...

UK Prime Minister Keir Starmer declined to rule out extending a freeze in income tax thresholds as his government faces growing pressure to boost tax revenues https://t.co/6BuC9t2vUa ...

It has a mistake in it. Those were the words spoken on the floor of the House of Representatives today at 11:10 a. m.that shocked every Republican member of the House of Representatives. They all know that the real leading expert on House rules is Democrat Jim McGovern, the Democratic leader of the House Rules Committee. They know that the Republican chair of the House Rules Committee, Virginia Fox, is completely and permanently incompetent.Always has been, always will be, as is her staff. And so the way in ...

RT Mario Nawfal (@MarioNawfal)🚨 🇺🇸 MIND-BLOWING FEDERAL BUDGET BREAKDOWN: $6.16 TRILLION SPENDING VS $4.47 TRILLION REVENUEThe government's fiscal 2023 numbers reveal massive deficit spending that would make any sane business owner cringe.Social Security dominates spending while individual income taxes carry the revenue load.The deficit gap is staggering — we're spending $1.69 trillion more than we bring in annually.Interest payments on existing debt alone consume hundreds of billions that could fund actual ...

Most states offer at least one tax break to retirees but some exempt multiple forms of retirement income and eight states have no income tax at all. https://t.co/2YWLPkx29w ...

The Senate is starting to discuss the Trumpbacked tax bill passed by the House of Representatives last month. One part of the bill that has brought appeal is a no tax on tips provision. The policy would exempt up to $25,000 in tips from federal income tax for people making less than $160,000 in 2025.But there are some risks that Americans should be aware of. here to explain. We've got the debtfree guys, David and John Autton Schneider, co-hosts of the Living Not So Fabulously video podcast as well.David, le ...

报 告 正 文 民生领域支出前置发力。 开年财政数据延续紧平衡态势，1-2月一般公共预算收入同比不及去年全年，亦低于 0.1%的狭义财政预算增速，进度也低于近五年均值；而财政支出靠前发力的态势明显，1-2月一般公共预算支 出增速虽较历史同期偏低，但支出进度创2019年以来同期次高，反映了积极财政前置的力度。此外，开年财政 支出呈现两个特点， 一是 中央财政支出强势， 二是 投向民生领域的支出占比大幅抬升。 广义财政赤字规模创新高。 1-2月政府性基金预算收支均较疲弱；广义财政来看，1-2月广义财政收入、支出增 速分别为-2.9%、2.9%，收入增速不及去年同期，而支出略有回升，不过广义收支增速均不及预算目标，反映 了地产修复偏慢的背景下，广义财政收入的下行压力仍大，也对广义财政支出端构成制约。此外，开年广义财 政赤字达到6217亿元，创历史同期新高，体现出低收入下支出端的极限发力。往后看， 一方面， 经济增长基 础仍需巩固，财政收入预算目标的达成压力不小； 另一方面， 当前一季度新增专项债发行进度处于历年同期 较低位，特别国债或仍在筹备阶段，二季度政府债发行有望提速。 财政收入增速转负。 1-2月，全国一般公 ...