Taxes June 29, 2026
Tax Court Reviews ‘Cohan Rule’ in New Business Expense Case
There’s no substitute for keeping accurate records that can prove the existence and amount of deductible expenses.
Taxes June 29, 2026
Artificial Intelligence Becomes Ripe Target for Taxes
Some progressives, including Sen. Elizabeth Warren, are floating various plans to spread the wealth of the AI boom, ranging from taxes on AI tokens to an excise tax on the energy used by data centers.
Taxes June 29, 2026
Why Gov. DeSantis Now Says He Won’t Campaign for Property Tax Plan
After spending the last year talking about eliminating or cutting Floridians’ property taxes, Florida Gov. Ron DeSantis said Monday that he won’t campaign to help pass an amendment on the ballot that he first proposed.
Taxes June 29, 2026
Khanna Lays Into Gavin Newsom’s Tax Proposal, Setting Up 2028 Battle Lines
Rep. Ro Khanna slammed Newsom's national tax proposal, accusing him of being a “cheerleader for the billionaire class” by refusing to back a proposed wealth tax on California’s billionaires.
Taxes June 29, 2026
Georgia Tax Preparer Obtained $30,000 from Fraudulent Claims, Feds Say
Santeva Speights, who prepared tax returns in Milledgeville, GA, was charged Thursday with two counts of tax fraud after obtaining $28,490 from fraudulent tax filings, according to a federal indictment.
Small Business June 26, 2026
Tax Court Doesn’t Horse Around in New Hobby Loss Case
After examining all the evidence, the Tax Court ruled that the activity doesn’t rise to the level of a business. Result: All the loss deductions are denied.
Small Business June 26, 2026
Study: Nearly Three-Quarters of Retailers Face Hidden Tax Compliance Costs After Black Friday and Cyber Monday
Nearly half (48%) of retailers say they still need additional safeguards to protect against unexpected cross-border costs.
Taxes June 26, 2026
King Charles Has Paid £30 Million in Taxes Since 2022
The announcement is part of "the Royal Household's commitment to transparency," according to Buckingham Palace.
Taxes June 26, 2026
California Governor Calls for National Tax on Billionaires After Opposing State’s Version
California Gov. Gavin Newsom argued that a federal push to ensure the wealthiest Americans pay their fair share would be more effective than a state effort set to appear on the Nov. 3 ballot.
Taxes June 26, 2026
Controversial Billionaire Tax Will Appear on November Ballot in California
A one-time 5% tax on California billionaires’ assets is headed to the November ballot, pitched as a way to backfill Trump administration healthcare cuts.
Taxes June 26, 2026
Sherrill Wants to Tax Companies with Lots of Workers on Taxpayer-Funded Health Insurance
New Jersey Gov. Mikie Sherrill has proposed taxing employers with at least 50 workers on Medicaid to raise $145 million in new revenue.
Taxes June 26, 2026
Study: Massachusetts ‘Not Progressive’ in How it Taxes Lower-, Middle-Income Households
A Boston-based nonprofit think tank says the state taxes a larger share of “typical families’” incomes than competing states.