In this installment of Willis Weighs In, Tax Analysts’ Jasper Smith, Executive Editor for Commentary, talks with Tax Notes contributing editor Benjamin M. Willis and Jillian S. Brennan, 2021 valedictorian of the Villanova University Charles Widger School of Law, about their article on zero-basis debt and writing about tax. Here are a few highlights from their discussion, edited for length
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In 1974, the Oldsmobile Ninety-Eight was a popular car – and the Employee Retirement Income Security Act (ERISA) was enacted to govern the US pension system. A lot has changed since 1974. Oldsmobile no longer exists, for one thing. The “typical” American family comes in many more shapes and sizes. And American workers are unlikely
HOLLYWOOD – AUGUST 31: Musician Carlos Santana performs onstage at the 2005 World Music Awards at … [+] the Kodak Theatre on August 31, 2005 in Hollywood, California. (Photo by Kevin Winter/Getty Images) Getty Images Carlos Santana may live in Las Vegas most of the year, but he loves spending time in Hawaii. The Grammy
In this article CMCSA AMZN AAPL VIAC DIS NFLX An Emmy statue at the 71st Emmy Awards Governors Ball press preview at LA Live in Los Angeles, California on September 12, 2019. Mark Ralston | AFP | Getty Images For more than a year, television has been a welcome distraction to those stuck at home
San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. Ann Saphir | Reuters San Francisco Federal Reserve President Mary Daly told CNBC on Tuesday that a strong economic recovery will allow the central bank to slow its asset purchases, possibly near the end
JPMorgan Chase reported second-quarter profit and revenue that exceeded analysts’ expectations as the firm released money set aside for loan losses. Here’s how the bank did: Earnings: $3.78 per share, exceeding the $3.21 per share estimate per Refinitiv. Revenue: $31.4 billion, topping the $29.9 billion estimate. One key factor is that after the industry set
Nassim Nicholas Taleb, New York University professor and author Jerome Favre | Bloomberg | Getty Images Nassim Nicholas Taleb has reversed his stance on bitcoin. The “Black Swan” author said in a recent paper that the largest cryptocurrency by market cap has failed to satisfy the notions of it as a currency without government, a
For two decades, former New York Yankees star C.C. Sabathia was one of the best and highest-paid pitchers in Major League Baseball, grossing more than $260 million throughout his career until he retired in 2019. In 2008, Sabathia signed what was then the largest contract for a starting MLB pitcher: a seven-year, $161 million deal. In his
SrdjanPav | E+ | Getty Images The national ban on evictions is scheduled to be lifted at the end of the month, yet just a sliver of the $45 billion in assistance allocated by Congress has gone out to renters behind on housing payments. The first round of rental aid was authorized by Congress in
Pascal Broze | ONOKY | Getty Images Rising inflation has startled many retirees, who now worry about outliving their savings. The consumer price index for June, measuring the cost of food, gasoline, housing, utilities and other goods, increased by 0.9%, the largest one-month change since June 2008, according to the Labor Department. Although Federal Reserve
Most people follow the straightforward path of real estate: We buy, we own our home, we live there for a number of years, the house appreciates in value, and we sell it. Do we pay taxes on that appreciation? For most Americans, the answer is no. This is due to Internal Revenue Code, section 121,
In this article VZ MA Mastercard and Verizon announced Tuesday a new partnership focused on 5G contactless payments for consumers as well as small- and medium-sized businesses. They hope to have some innovations from the partnership by 2023. The collaboration aims to enable businesses to use emerging payment technologies to turn smartphones in to cash
Taoism tell us that mindful strategic inaction, expressed in the concept of wu wei (literally “doing nothing” in Chinese), is usually the most effective approach to the challenges of living. It’s often the same with employee stock options. Waiting as long as possible to exercise stock options—i.e. doing nothing and letting the value grow until
Amit Haller is the Co-Founder & CEO of Reali, a high-tech, high-touch real estate company founded in 2016. One of the noblest goals in the technology industry is to democratize information and access to goods and services. In the real estate industry in particular, fair and equal access is one of the highest values we should
In this article WMT COST BJ Shoppers stock up on merchandise at a Sam’s Club store on January 12, 2018 in Streamwood, Illinois. Scott Olson | Getty Images For Sam’s Club shoppers, a trip to the store typically means lugging home big and often cumbersome items. A month’s supply of diapers. Lawn chairs. Large cartons
In this article SE 22UA-DE 700-HK BABA A signage for Temasek Holdings is displayed during a news conference following the company’s annual review in Singapore on July 9, 2019. Bryan van der Beek | Bloomberg | Getty Images SINGAPORE — Singapore’s state investment company Temasek said Tuesday the net value of its portfolio reached a
(Click here to subscribe to the new Delivering Alpha newsletter.) Climate change has been one of the biggest topics of 2021, but private capital specifically is still in a nascent stage in making progress in this space. TPG’s Executive Chairman Jim Coulter is raising one of the few climate funds in existence. Here he is on impact
Dubai is already home to the world’s tallest building. Now it can lay claim to the world’s deepest diving pool too. Deep Dive Dubai opened on July 7, just 10 days after being named the world’s deepest diving pool by the Guinness World Records. The new indoor pool is nearly 200 feet deep and holds
Allyson Felix celebrates with her daughter Camryn after finishing second in the Women’s 400 Meters Final on day three of the 2020 U.S. Olympic Track & Field Team Trials in Eugene, Oregon. Patrick Smith | Getty Images Sport | Getty Images When runner Allyson Felix heads to Tokyo to compete in the Olympics, she’ll go
Taxpayers who want to opt out of the 2021 advance child tax credit payments — and later this year, those who want to update their information with the IRS so that the payments are accurate and delivered to the correct address — are directed to an identity verification process that uses facial recognition technology. Nonfilers who must