Kate Dore
Personal Finance Reporter at CNBC
Personal finance reporter @CNBC. CERTIFIED FINANCIAL PLANNER®. snacker. Bi. 🏳️🌈 [email protected]
Articles
Trump says 'there is a chance' tariff revenue could replace the income tax. Economists are skeptical
2 days ago |
cnbc.com | Kate Dore
Some policy experts have questioned how much revenue the duties could bring in, compared to the federal income tax. "The tariff tax base is a lot smaller than the income tax base," Kimberly Clausing, a senior fellow at the Peterson Institute for International Economics, told CNBC. In 2023, the U.S. imported $3.1 trillion of goods. By comparison, the government levied tax on more than $20 trillion in incomes, according to a report she co-authored last summer.
Trump says 'there is a chance' tariff revenue could replace the income tax. Economists are skeptical
2 days ago |
flipboard.com | Kate Dore
NowThe U.S. economy is a rollercoaster. Stocks and bonds have taken a beating. New tariffs are shaking up markets, and layoffs are making headlines. For both the rich and everyone else, people are interested in where they stand financially in light of all the chaos. Since the stock market has taken a …
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4 days ago |
cnbc.com | Kate Dore
But investors can prepare for volatility, said certified financial planner Lee Baker, owner of Apex Financial Services in Atlanta. "Turmoil has happened before, and it will happen again," said Baker, who is a member of the CNBC Financial Advisor Council. Whether you're facing tariff-induced selloffs or another drawdown, there are some key strategies to weigh before retirement.
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1 week ago |
cnbc.com | Kate Dore
The IRS' free tax filing program is in jeopardy as the agency faces continued cuts from the Trump administration. After a limited pilot launch in 2024, the program, known as Direct File, expanded to more than 30 million taxpayers across 25 states for the 2025 filing season. Funded under the Inflation Reduction Act in 2022, the program has been heavily scrutinized by Republicans, who have criticized the cost and participation rate.
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1 week ago |
cnbc.com | Kate Dore
If you're scrambling to file your taxes, you could miss another key due date on April 15: the first-quarter estimated tax deadline for 2025. Typically, quarterly payments apply to income without tax withholdings, such as self-employment earnings, rental income, interest, dividends or gig economy work. Similarly, retirees and investors "frequently need to make these payments," the IRS said in a news release last week.
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Good tax insights from @emrwilkins’ chat with House Ways and Means Chair @RepJasonSmith🧵
I sat down with W&M Chair @RepJasonSmith at the @CNBC CFO Council yesterday to chat taxes and TCJA reauth. A few takeaways ...
There’s been huge growth in crypto gifts to charity. This year alone, Fidelity Charitable has accepted $688 million in crypto donations through Nov. 19, up from $49 million in 2023. Here’s how the strategy can benefit donors and nonprofits. https://t.co/Md8vvimtBK
Since 2018, it’s been harder to claim a tax break for gifts to charity because most people use the standard deduction. But if you itemize, it’s generally better donate profitable investments over cash. https://t.co/GoOm7I6NYa