A worker carries a package to a conveyor belt at the United Parcel Service Inc. (UPS) Utah Regional Hub in Salt Lake City. Photographer: Kim Raff/Bloomberg © 2019 Bloomberg Finance LP In a new paper, I propose a universal earned income tax credit (UEITC)—a one-for-one match on the first $10,000 of earnings delivered through a
Taxes
Share to facebook Share to twitter Share to linkedin For anyone with employees, paying employment taxes is inevitable. You withhold taxes from employee pay, and send the money to the IRS. The taxes are withheld from wages and are supposed to be promptly paid to the government. This is trust fund money that belongs to the government, and no matter how good a
The utility of annuities as investment products is one of the most sharply contested subjects in the financial world. The objective of dispassionate observers should be to help clear the smoke and offer simple guidelines to form smarter opinions about one of the most promising—but also reputedly one of the most damaging, tax-oppressive, costly, and
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 the whether to file and suspend retirement benefits and how doing so can affect spousal benefit availability, when spousal benefits can be received and how to become eligible for
earnin earnin Most Americans believe we live in a country with quality medical care—and have long considered it to be the best in the world. However, the reality is that life expectancy is declining as healthcare costs are rising; so, it’s no surprise that it’s becoming more and more expensive to afford medical care. Relying
Texas vs. California, a series of essays comparing America’s two most populous states Texas Public Policy Foundation One in every five Americans call California or Texas home. Comparisons between the two most-populous states are useful because both states have diverse populations and economies, but vastly different politics. That, in turn, leads to divergent public policies
Credit: Getty Royalty Free Getty What are the best states for a 529 education savings plan? What problems are there with these plans? These are tax-advantaged programs, sponsored by states, that allow your investments to grow tax-free and be spent without a tax bite for educational expenses. Stephen Nelson, a wealth manager at Aldrich Wealth in Carlsbad,
The other day I was speaking with a reporter about Americans’ level of retirement preparation. Usually I touch on data on retirement plan participation, average contribution rates, retirement plan assets and average retirement ages – all of which have gone up. But this time I asked a more straightforward question: What share of current retirees
Getty Getty The Internal Revenue Service audited only 0.59% of individual income tax returns last year, the lowest audit rate since 2002, according to the IRS 2018 Data Book released today. A closer look shows that it’s the highest earners whose audit rate has dropped the most. For the highest income taxpayers—returns showing adjusted gross
Robert Smith, chairman & CEO of Vista Equity Partners LLC, speaks in Beverly Hills, California, on Wednesday, May 1, 2019. Photographer: Patrick T. Fallon/Bloomberg © 2019 Bloomberg Finance LP Life just got a whole lot better for some recent college graduates. During the 2019 commencement address at Morehouse College, self-made billionaire Robert F. Smith announced that
The gig economy has exploded in recent years, and it’s changing the way we think about traditional “work.” For instance, many people are choosing to freelance full-time, work part-time while freelancing or even work full-time while pursuing side hustles. While gig economy workers enjoy a lot more freedom than they might in the corporate world,
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 explores the wisdom of relying on ‘knowledgeable’ friends for Social Security advice, whether a restricted application is possible for a couple, filing for spousal benefits while retirement benefits are suspended
The daily jousting between UK Prime Minister Theresa May, members of her Parliament, and EU leaders has captivated the news media, with its endless play-by-play action. As growing pressure has mounted on May to resign following her third failed proposal, she is desperately trying to hold a fourth and likely final vote for the first
UNITED STATES – MARCH 14: Alice Rivlin, former director of the Congressional Budget Office, testifies during a Joint Economic Committee hearing in Dirksen on “solving the federal debt crisis.” (Photo By Tom Williams/CQ Roll Call) CQ-Roll Call,Inc. Alice Rivlin, who died yesterday at age 88, was a policy legend. She also was a kind, generous,
Stephanie Román, Senior Policy Analyst, Policy and Advocacy UnidosUS In the last two weeks, President Donald Trump, his spokesperson Kayleigh McEnany, and a number of conservative pundits have been bragging about Hispanics having the lowest unemployment rate in decades. Yes, Hispanic unemployment is at its lowest level since it started being reported by the Bureau of Labor
#digitaltransformation https://enterprisersproject.com/article/2017/7/10-digital-transformation-must-reads Joining a board of directors sometimes has the connotation that it’s an easy job you accept after retiring from your career. People tend to think that board members just play golf and show up to quarterly meetings to review the board package, the budget and look over financials. While this may have been
Alice Rivlin, right, a former White House budget director and a member of President Obama’s debt commission, answers questions from the deficit supercommittee during a hearing on Capitol Hill in Washington, Tuesday, Nov. 1, 2011. At left is former Sen. Alan Simpson, R-Wyo., who co-chaired the Obama debt commission. (AP Photo/J. Scott Applewhite) ASSOCIATED PRESS
If you, like most Americans, are concerned about higher education expenses for yourself or your loved ones, you’re not alone. College students use about 47% of parent and student income and savings to pay for college. But how families save for college varies widely. Saving for college isn’t easy. Getty 529 Plan Awareness Still Low
Share to facebook Share to twitter Share to linkedin Photo by Soumil Kumar from Pexels including tax-exempt organizations on a calendar tax year-end Unlike last year’s glitch, this outage isn’t an IRS issue. On May 6, Wolters Kluwer reported that it was experiencing network and service interruptions affecting certain of its platforms and applications. That
New York Stock Exchange MaxPixel In reviewing Pinterest’s S-1 IPO filing, I noticed something unusual: Ben Silberman, founder and CEO, had 31.2 million vested and unexercised stock options in his company. While those options on IPO day would be worth a fortune of roughly $750 million, they would also likely carry a tax bill $150