Tag Archives: wealthy
Accountants: ‘Gamekeepers Turned Poachers’
MPs accuse Britain’s ‘big four’ accountancy firms of using “insider knowledge” to help wealthy clients avoid tax. Continue reading
IRS audit squad nabs 1 in 8 millionaires
The IRS has learned the Willie Sutton Principle: When it comes to revenues, go to where the money is.New data from the IRS shows that tax filers with taxable incomes of $1 million or more were audited nearly 12 times more often than the population as a whole. About one in eight of them were examined in the fiscal year 2012, for a total of 41,000.Read more: Taxes Won’t Stop Wealthy from SpendingTho… Continue reading
In Cyprus deal, Russia may have the last laugh
Europe won this round. But Russia may have the last laugh.As part of a $13 billion deal to a bail out a pair of bloated Cyprus banks, European officials Monday won the Nicosia government’s backing for a painful “haircut” on bank accounts that will inflict maximum financial pain on Russian companies and wealthy depositors who have long used the tiny island nation as a tax shelter.The last-minute de… Continue reading
How your kids are learning not to blow your cash
You scrimped and saved, built a business, managed your growing fortune wisely. Now, according to studies of the super-rich and the merely wealthy alike, you have one overwhelming concern: How do get your well-off children or grandchildren to think more like you? Continue reading
The 1% really hate budget deficits: here’s why
The wealthy may be just as politically polarized as the rest of the country. Continue reading
World’s largest trove of tiny cars goes to auction
Like many of the wealthy, Bruce Weiner likes to collect things. Continue reading
Wealthy spoil their kids, even if they don’t intend to
It’s the rich parent’s paradox. The wealthy want their kids to have middle-class values Continue reading
Senate, White House strike fiscal cliff deal
“Fiscal cliff” negotiatiors agree on higher tax rates for wealthy Americans Continue reading
