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[ad_1] WASHINGTON — The Biden administration's 2024 budget relies almost entirely on additional revenue created by raising taxes on the wealthiest Americans and corporations and by letting the Trump-era tax cuts expire. If several of the proposals, like a billionaire minimum tax, sound familiar, it's because they have been part of the president's domestic agenda wish list for years. And while a White House annual budget is always one part wish list and one part plan, Biden's tax hikes are even less realistic now — with a Republican majority in the House — than they were when he first tried to pass them through a Democratic-controlled House and Senate. The plan released Thursday by the Treasury Department in its annual Green Book, calls for an even higher minimum tax this year on the top 0.01% of earners and households worth more than $100 million, up to 25% from 20% last year. Read more on Biden's fiscal year 2024 budget plan: It would also quadruple the stock ...

[ad_1] Despite the cooling market , many homeowners made money selling their property in 2022 — and part of that windfall may be taxable. Home sellers made a $112,000 profit on the typical sale in 2022, a 21% increase from 2021, and a 78% jump from two years ago, according to ATTOM , a nationwide property database.  While most sellers fall under the thresholds for capital gains taxes , high-dollar home sales or long-term ownership can trigger an unexpected bill, experts say. More from Smart Tax Planning: Here's a look at more tax-planning news. Here's how it works: Home sales profits are considered capital gains, with federal tax rates of 0%, 15% or 20%, depending on your 2022 taxable income. (You calculate "taxable income" by subtracting the greater of the standard or itemized deductions from your adjusted gross income.) As a single home seller, you can exclude up to $250,000 of your profit from capital gains taxes and you can shield up to $500,000 as a married ...

[ad_1] Exchange-traded funds can still compete in today's "stock picker's" market, according to a top investor. "A lot of money is moving into active ETFs, because it provides the benefits that you have from active management [or] from stock picking … but also all the tax benefits and cost benefits that you have in an ETF," Avantis Investors Chief Investment Officer Eduardo Repetto told CNBC's " ETF Edge " last week. He predicts actively managed ETFs will continue to gain traction through the second half of the year. "We used to only have index ETFs," Repetto noted. However, he emphasized this has changed over the past three years as the number of actively managed ETFs has grown. Repetto's firm is behind the Avantis U.S. Equity ETF , an actively managed portfolio of U.S. stocks. Its website shows the fund's top holdings are Apple, Microsoft , Amazon , Meta Platforms and Alphabet . As of Friday, the ETF is up 12% this ye...