Kieferpix | iStock | Getty Images When it comes to retirement savings, how much is enough in order to feel financially secure? The median answer across workers of all ages is $500,000, according to research from the Transamerica Center for Retirement Studies. But that figure varied somewhat across generations. While the median number for Gen
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Youth unemployment skyrocketed during the coronavirus pandemic, prompting some entrepreneurial college students to turn to side hustles to make ends meet. Unemployment for young people (in the 16-24 age range) hit a high of 27.4% in April 2020 — that’s nearly 1 in 3 who were unemployed. Meanwhile, Etsy reported that the number of sellers
By Richard Eisenberg, Next Avenue Editor We’ve all seen how Olympic gymnast extraordinaire Simone Biles has been struggling with mental health issues, causing her to drop out of events at the games and performing the work she loves. Financial therapist Joyce Marter, author of the intriguing new book “The Financial Mindset Fix,” says our mental health
In Marin County CA, where we have life expectancies greater than for most people in the US, even here, one stands out. She’s the county’s oldest resident, Pauline Angleman, 112 years old. She has been studied, celebrated, interviewed, honored by President and Michelle Obama and she continues to amaze doctors. One of them studying her,
A little over four years ago, it occurred to me that my wife Jet and I had essentially experienced what modern physics would tell us is not possible: At the very moment that my wife and I were enjoying the scenery during our relaxing, unhurried walk with our dogs, the hard water stains in our
Deferred compensation plans have become an integral way to save for retirement. They typically come in two general forms. The first is a qualified deferred compensation plan that is governed by ERISA rules, which include the more familiar 401(k) and 403(b) plans. The second is less common and technically known as a non-qualified deferred compensation
State treasurers around the nation are spearheading efforts to improve financial literacy. While they may have different experiences or motivations for their efforts to impact positive change, they all agree that more needs to be done to improve people’s financial knowledge and change consumption habits. The efforts of these elected officials, while commendable, fail to
July was a productive month for the IRS when it came to getting payments to taxpayers. Yet frustration continues to bubble for those who are still awaiting their refunds from tax returns that have not yet been processed. Unemployment Adjustments The IRS announced on July 28 that another 1.5 million taxpayers were receiving refunds averaging
Employers, accountants and financial advisors recently received new guidance from the IRS on the extremely important and somewhat complicated Employee Retention Credit (”ERC”) which was passed as part of the Cares Act in February of 2020, and became available retroactively and going forward in 2021 to PPP Borrowers. Brandon Ketron, JD, CPA and I presented
Karin Slaughter’s recently released latest novel False Witness focuses on a lawyer in a prestigious Atlanta firm gearing up for a criminal trial. Coincidentally we have this week the outcome of her own legal drama, which likely only excites the tax blogosphere. Her appeal to the Eleventh Circuit of a 2019 Tax Court decision confirming that
Several U.S. Senators have been negotiating over the amendment language in a cryptocurrency tax reporting provision of the Infrastructure Investment and Jobs Act, which is one of many offsets designed to pay for the costs of the bill. These lawmakers are facing tremendous time pressure from the White House as well as the Senate Majority
Back in April, the conservative economist Lawrence B. Lindsey published an article in The Wall Street Journal complaining about the Biden administration’s plan to raise the capital gains rate. An increase to 39.6% would actually cost the government money because it would exceed the revenue-maximizing rate. There could only be one motive, Lindsey insisted. “Tax rates above the revenue-maximizing rate are punitive,” Lindsey charged. “The
Today’s column addresses questions about whether investment withdrawals can make Social Security benefits subject to income taxes, potential options for filing when you have more than one ex and suspending a retirement benefit after it converted from a disability benefit. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president
Does the IRS like to impose penalties? It must, since IRS penalties have a way of creeping into many tax notices, even for innocent mistakes. You might think that if you weren’t trying to cheat on your taxes and just made a mistake, it would be OK. Taxes are complex, and mistakes happen, but the burden
While there will hopefully be many lessons learned from this pandemic—how to make a sourdough starter, how to keep houseplants alive, how to practice gratitude—none is perhaps more important than how to take care of one’s mental and physical health. Maintaining mental and physical wellness can be done in a variety of ways—anything from meditation
Topline Following days of negotiations, the Senate on Monday struck down a bipartisan amendment to overhaul and clarify newly proposed cryptocurrency tax-reporting requirements included in the Senate’s $1.2 trillion infrastructure bill, dealing a potentially massive blow to a slew of companies concerned they could be forced to hand over transaction information to the Internal Revenue
Senior Vice President, Investment Management at AppFolio, which provides cloud-based property management software solutions. The innovative measures that property management professionals and leasing teams took to keep their businesses up and running last year were not created in a vacuum. Technology that could help with virtual video tours, rent collection, maintenance requests and more had all
The pandemic put urban areas into a tail spin with workers fleeing office space and residents looking for more comfortable, remote living spaces. At the same time, the pandemic also created massive growth opportunities for some employers, like Amazon. That growth is just one lever moving the company into more office space in Arlington County,
CEO and Co-Founder at Rhove. Expanding access and opportunity for everyone to invest in and own real estate. Where venture capitalists go, real estate prices soon follow. With an eye for spotting high-growth companies that turn into multi-billion-dollar employment engines, VCs help set the path for thriving communities. When a VC firm decides to invest a
I’m the co-CEO of Gensler, the largest architecture firm, along with Diane Hoskins. Our philosophy is based on shaping the future of cities. Our architecture firm, Gensler, is one of many superlatives: most innovative, highest revenue, largest. And while biggest doesn’t always mean best, our firm’s numbers, geographic distribution and breadth of expertise are key drivers