The whistleblower allegation that Ensign Peak Advisors, has in its over 20 years of existence accumulated over $100 billion dollars in excess tithes and the investment returns thereon is generating some excitement. EPA is characterized as an integrated auxiliary of The Church of Jesus Christ of Latter-day Saints. I’ve decided to call the matter Ensigngate.
Taxes
LOS ANGELES, CALIFORNIA – DECEMBER 19: South Bend, Indiana Mayor Pete Buttigieg (L) and South Bend, … [+] Indiana Mayor Pete Buttigieg listen as former Vice President Joe Biden speaks during the Democratic presidential primary debate at Loyola Marymount University on December 19, 2019 in Los Angeles, California. Seven candidates out of the crowded field
Share to facebook Share to twitter Share to linkedin Stocks rose Thursday morning after Donald Trump became the third U.S. President to be impeached. Spencer PLatt/Getty Images Topline: Though the House of Representatives voted to impeach President Donald Trump on Wednesday night, the stock market rose to new record highs in their first session after
Getty Lying about your income is Tax Fraud 101. You’d expect taxpayers to understate their income to avoid paying tax, but a surprising number of taxpayers inflate their income to obtain fraudulent refunds. Typically, those schemes focus on refundable tax credits, which can garner tens of thousands of dollars in refunds. But what happens when
Apple’s 133-acre Texas campus will host 5,000 employees when it opens in 2022. It has the capacity … [+] to eventually hold three times that. Courtesy Apple Texas reclaimed the number two spot in Forbes’ Best States for Business ranking this year thanks to the best growth prospects in the country and a little help
Share to facebook Share to twitter Share to linkedin As it stands, it’s a complete “nonevent” for the market. Spencer Platt/Getty Images Topline: With the House of Representatives expected to vote in favor of impeaching President Donald Trump on Wednesday evening, the stock market has largely trended flat, with little movement to either the upside
Share to facebook Share to twitter Share to linkedin Some provisions of the deal are underwhelming, according to experts. Scott Olsoon/Getty Images Topline: Although Wall Street cheered the signing of a new North American trade deal announced by the Trump administration and congressional Democrats last week, in their relief many investors overlooked specific provisions of
WESTWOOD, CALIFORNIA – NOVEMBER 14: Jamie Lee Curtis arrives at the premiere of Lionsgate’s “Knives … [+] Out” at the Regency Village Theatre on November 14, 2019 in Westwood, California. (Photo by Amanda Edwards/WireImage,) WireImage, One of the surprise hits of the 2019 movie season has been the murder mystery Knives Out. With a star-studded cast
Well, it’s interesting to see Mormons back in the tax news. The Washington Post has a story about a whistleblower’s disclosures to the IRS that Ensign Peak Advisors, Inc, founded in 1997, has accumulated over $100 billion in assets without ever making any charitable distributions. The only two outflows appear to have been to bail
The SECURE Act (Setting Every Community up for Retirement Enhancement Act of 2019) just got attached to the year-end spending bill. While most of the news chatter is around its retirement provisions, the SECURE Act will also make major enhancements to 529 plans that could impact hundreds of thousands of Americans. NEW YORK, NY: Workers
Close up detail of George Washington’s portrait on the U.S. $1 note. Getty Most Americans like the wealth tax – 63%, according to The New York Times. That comfortable majority includes 77% of Democrats and more than half of all Republicans. “Men and women like it,” observed the Times. “So do the young and the old. The proposal
Getty Negotiations are ongoing, but it looks like the fiscal year 2020 spending bill will include permanent repeal of up to three Obamacare taxes: the so-called “Cadillac” tax on health insurance benefits, an excise tax on medical devices, and the Health Insurance Tax. The three taxes were part of the Patient Protection and Affordable Care
Reps. Stephanie Murphy (D-FL), Ben McAdams (D-UT), and Ed Case (D-HI) discuss the House Blue Dog … [+] Coalition’s Blueprint for Fiscal Reform at a forum sponsored by the Progressive Policy Institute’s Center for Funding America’s Future. House Blue Dog Coalition The federal government is ending 2019 with a national debt of over $17 trillion
If you’ve dabbled in the tax law at any point since, oh…1913, you may have picked up on the fact that the IRS is in the business of taxing accessions to wealth. In other words, if you go to bed at night richer than when you woke up, Uncle Sam wants his cut. The Internal
When it comes to Section 183 (Activities Not Engaged In For Profit), commonly referred to as the hobby loss rule, my goal is to be your go-to-guy. In the last year (12/13/2018-12/12/2019), I have noted fifteen hobby loss decisions . One of the decisions concerned evidence and was not a final ruling. Taxpayers Behind And
Getty Have you ever heard the phrase “sometimes the cure is worse than the disease”? This may be one of those cures. Even the most casual observer will no doubt have noticed the attention paid to the rising student debt. This has inevitably led to creative ideas aimed at eradicating that liability. “There is a
Getty Estate planning is a complex world for most Americans. For many, the process can seem overwhelming and expensive. For others, it is uncomfortable to confront one’s mortality and requires tough decision making. But regardless of one’s feeling on estate planning, there is one estate planning document that all Americans should have: A Health Care Directive. But what
Share to facebook Share to twitter Share to linkedin Trading fractions of stocks is becoming more mainstream. Rafael Henrique/SOPA Images/LightRocket via Getty Images Topline: Robinhood is the latest company to offer clients the ability to trade fractions of stocks as it joins a growing number of firms looking to attract the next generation of investors.
Share to facebook Share to twitter Share to linkedin The stock market’s reaction was tepid, to say the least. Mark Wilson/Getty Images Topline: Although the U.S. and China have finally agreed on an initial deal that’s expected to defuse the 19-month-long trade war and result in a rollback of both existing and scheduled tariffs, the
Getty It’s the second day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is MEANS (Matching Excess and Need for Stability) Database. MEANS tackles hunger in a novel way. Too often, grocery stores and restaurants