State of the Union hints at Obama’s lame duck term January 22, 2015 There has been a growing trend in the State of the Union address the President gives each year. He stands before Congress and begins to alternate between populist appeals, personalised stories, and non-starter policy proposals. This year was no different, although there is a possibility that a couple minor changes may be made. Little of [...]
State of the Union: Barack Obama’s populist tax hikes will hit US investment January 21, 2015 In his State of the Union Address, President Obama proposed raising the top tax rate on capital gains and dividends to 28 per cent from the current rate of 24 per cent. This is up from 15 per cent when Obama took office. Part of the increase came from a 3.8 per cent tax on [...]
Barack Obama’s State of the Union address: “The shadow of crisis has passed” January 21, 2015 It was a triumphant moment for Barack Obama last night, when he stood up to tell his country "the shadow of crisis has passed". His closely-watched State of the Union address followed months of strong growth in the US economy – in stark contrast to its neighbours across the Atlantic. In a speech firmly designed [...]
Building a nest egg: The best ways to invest for your child January 20, 2015 Don’t be afraid to take risks on your children’s behalf. With the Institute for Fiscal Studies forecasting that, in 18 years’ time, fewer than half of us will be able to own a home, saving for your children may well feel more important than ever. Calculations from Nutmeg show that, in order to amass a [...]
Republicans slam Obama’s tax proposals January 18, 2015 US PRESIDENT Barack Obama’s plans for new taxes on the wealthy and on Wall Street banks were met with fierce criticism from the Republicans yesterday, signalling the challenges facing any attempt to shake-up the US tax code. Obama will use his State of the Union address tomorrow to propose a raft of new measures aimed [...]
EU referendum greater risk to London’s property market than General Election uncertainty, says KPMG January 12, 2015 A referendum on Britain's EU membership could herald bad news for London's high-flying property market, new research has found. David Cameron has promised to renegotiate Britain's membership of the EU and put the result to the people by 2017. But if Brits vote to leave, the capital's property market could suffer in the aftermath, big [...]
Staying tax savvy: What you can do before the year ends January 6, 2015 A focus on capital gains tax may well mean a better deal. With the new year having firmly arrived, and the end of the tax year just three months away, now is an ideal time to blow the cobwebs away and ensure your money is working as hard as possible – by getting your [...]
Maximising your tax efficiency is vital – but beware sneaky fees January 6, 2015 IT’S A new year and, in the financial world, our thoughts are turning to the next big milestone – the end of the tax year. Running from 6 April every year, an arbitrary date, the “TYE” has a history packed with calendar blunders and political-religious significance. Aside from the guts and the glory, it also [...]
Greek economy in limbo after failed election bid December 17, 2014 Greece’s economic stability was put in serious doubt last night as the ruling New Democracy party failed in its first attempt to have its presidential candidate elected. A failure to eventually do so will put at risk Greece’s negotiations with the IMF over an extension of its bailout loan. The ruling party’s candidate Stavros Dimas [...]
Boris Johnson risks US fine or jail over failure to pay American capital gains tax on London property December 14, 2014 Boris Johnson risks a hefty fine or even a spell in jail if he fails to pay American capital gains tax on a London property he sold in 2009, a leading US tax specialist has told City A.M.. Johnson, who was born in New York and holds an American passport, revealed last month he was [...]