HSA (Health Savings Accounts) can be a tax-efficient way to save for future health care expenditures Getty Health Savings Accounts (HSAs) might be the single most powerful tax-advantaged savings vehicle in the IRS tax code. You can deduct contributions, experience tax-deferred gains and withdraw money tax free for qualified tax expenditures. It’s essentially a no-tax
Taxes
Getty Did you owe an estimated tax penalty for 2018 but didn’t claim the waiver? All is not lost. The Internal Revenue Service (IRS) has announced that it is waiving the estimated tax penalty for those eligible taxpayers who filed their 2018 federal income tax returns but did not claim the waiver. The relief is
Getty The Internal Revenue Service (IRS) has issued a reminder to taxpayers with significant tax debts: reach out now to avoid losing your passport. On December 4, 2015, the Fixing America’s Surface Transportation Act, or “FAST Act,” became law. Under the FAST Act, the State Department can yank passports from delinquent taxpayers after notification from the IRS
TV personalities Todd Chrisley (L) and Julie Chrisley attend the 52nd Academy Of Country Music Awards at Toshiba Plaza on April 2, 2017 in Las Vegas, Nevada. (Photo by Frazer Harrison/Getty Images) Getty Images A federal grand jury has indicted reality television stars Todd and Julie Chrisley on multiple counts of conspiracy, bank fraud, wire
A Lesson In Business Basics Bajacorp Whether you are a seasoned business veteran or a newly minted employee entering the workforce, there are some basic tips to keep in mind that will help you differentiate yourself as you continuously work to cultivate your personal brand. Here are my thoughts on the basic business etiquette every
The capital gains tax is once again a political tug-of-war. While Democratic presidential candidates discuss changes in capital gains tax to boost federal revenue, the Trump White House is pulling in the opposite direction: a possible executive order to require the US Treasury to index capital gains for inflation—effectively a tax cut that would, controversially, bypass Congress.
The Tax Court opinion of Judge Daniel Guy in the case of Giving Hearts, Inc. illustrates a waste of IRS resources and focus that is the result of our choice to have the wrong agency regulate not-for-profit organizations. If bad acting by an exempt organization is facilitating significant federal tax avoidance, having the IRS on the
Digital assets are growing in value and popularity Getty The attention and money flowing into digital currencies have never been higher. Bitcoin has seen a resurgence in valuation in 2019 and Facebook continues to explore its own digital currency offering, Libra. Cryptocurrencies and digital currencies are a reflection of the world we live in: a
Happy Couple Rawpixel.com Before marriage equality, LGBTQ planning lore was full of horror stories. There was the lifelong partner kicked out onto the street after his lover passed away. A woman who had to pretend to be her girlfriend’s sister to get into the hospital room. A father who lost the right to see his
null Getty Regardless of how much money you have, one thing is clear: funding college education is an expensive endeavor. The good news is that over the past decade, Americans of all income groups have come to embrace the 529 plan. In fact, the Pew Research Center found that these education accounts have increased in number
Getty With gloomy threats of Brexit and a general election happening within the coming months, many are worried that foreign wealth might depart the U.K. That threat was confirmed on Friday, with latest government data showing that over 12,000 individuals have given up their “non-domiciled” status. This unique, and almost oxymoronic term, allows foreign individuals
The Devils Dictionary is a great way to learn some new financial terms so you can get back to riding your bike. (Photo by Hendrik Schmidt/picture alliance via Getty Images) picture alliance via Getty Images Do you ever wonder what all that financial jargon actually means? Will your eyes cross after googling just a few
WASHINGTON, DC – MARCH 20: Nina E. Olson in her office on March 20, 2012 in Washington, DC. The Taxpayer Advocate office works independently within IRS. (Photo by Ann Hermes/The Christian Science Monitor via Getty Images) Christian Science Monitor/Getty Images Nina Olson, the National Taxpayer Advocate, retired last week after 18 years on the job.
Captive Insurance jda Let’s say that investors gets into an alleged tax shelter, the shelter blows up causing losses, and the investors bring a class-action lawsuit against the promoter. The promoter, in its defense to the attempted class-action certification, alleges that each investor signed a contract when they got into the deal which says that
Share to facebook Share to twitter Share to linkedin Interest rate cuts can have positive impact on economy Getty When the Fed cuts rates, the world economy notices. It typically provides a mirror for the current state of things and a taste of things to come. Here are four reasons the Fed’s recent quarter-point cut
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses questions about when to file to allow for larger benefits for a spouse, how spousal benefits are determined, how survivor benefits are calculated, when it is possible to file
Getty Remember all of the times that the Internal Revenue Service (IRS) reminded you to do a payroll checkup (like this one)? And remember that you didn’t? The IRS is hoping you’ll reconsider this year. The agency has launched a new Tax Withholding Estimator that they hope will make it easier for everyone to figure
Share to facebook Share to twitter Share to linkedin Trump is one of two presidents over the past 40 years who hasn’t voluntarily released his tax returns. (Photo by Nicholas Kamm) AFP/Getty Images Topline: In the latest move to shield his tax returns from Democrats, President Donald’s Trump’s campaign has sued California in an attempt
Pals who eat together flickr Editorial/Getty Images Just say the number 47 percent and many people know exactly what you are talking about: It was the calculation that the Tax Policy Center did a decade ago of the share of people who pay no federal income tax. At least among tax and political geeks, the number became
Getty Correspondence season is in full swing. That means that the Internal Revenue Service (IRS) is sending out bills and notices to taxpayers – including correspondence focused on cryptocurrency and healthcare reporting. It may be hard for taxpayers to tell the real thing from the fakes – and scammers are taking advantage of the confusion.