Taxes

Cargo ships berth at a port in Qingdao in China’s eastern Shandong province on May 8, 2019. Photo credit:STR/AFP/Getty Images) AFP/Getty Images   President Trump’s increases in tariffs on imported goods from China and elsewhere are effectively reversing a big chunk of the 2017 Tax Cuts and Jobs Act. For many low- and middle-income consumers,

Chuck DeVore on Fox News Discussing the Proposed Tax Hikes on May 10, 2019 Fox News broadcast, May 10, 2019 Trying to stand out in a crowded field, Democratic candidates for president have so far proposed nine separate tax increase ideas totaling more than $10 trillion. We can break them down into three basic groups.

Taxpayers in big cities have a heavier debt burden than they know. Getty American taxpayers have a much heavier debt burden than they are aware of. How and when municipalities publish their financial accounts varies greatly throughout the United States. A significant number of U.S. municipalities do not publish all the liabilities that their residents have

Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks during the company’s initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) on Friday, May 10, 2019. Photographer: Michael Nagle/Bloomberg © 2019 Bloomberg Finance LP After arguing for years that its drivers were not employees, the ride-share company Uber announced

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 how Social Security spousal benefits are determined, whether to switch from retirement benefits to taking spousal benefits and vice versa, potential effects of early retirement benefits on survivor’s benefits

New reports suggest that President Trump claimed a whopping $1.17 billion in tax losses between 1985 and 1994. The New York Times says much of the data for this finding came from IRS transcripts. IRS transcripts list certain key reporting data under a taxpayer’s taxpayer identification number. Even so, it is hard to see how transcripts could reveal the

Here’s an email I received last weekend from Kathy from Erie, PA. Hi Larry, In June of 2018, Gary turned 66, his full retirement age (FRA), and began to receive Social Security retirement instead of his previous disability benefit. At that time, we learned from your company’s software that it would be best for Gary

Wednesday, May 1, 2019 – Detroit, MI: Actor, author, and owner of The Roasting Plant, Hill Harper discusses financial literacy at the Experian #BoostAmerica campaign launch. Tim Galloway/AP Images for Experian Actor and author Hill Harper has always had a comfort level with money. From a very early age, his father worked with him to

Share to facebook Share to twitter Share to linkedin Congress needs to help the IRS stop tax ID theft crooks by giving it the power to set cybersecurity standards for paid tax reparers and providers of tax preparation software, GAO asserted today. Photo credit: Getty Getty Congress has opened the door to ID theft from

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 whether going back to work lets you suspend Social Security retirement benefits, filing options for when one spouse has filed but the other hasn’t, delaying retirement benefits to take

Trump Tower. Getty While the Democrats press for the last few years of President Trump’s tax returns, older information has come to light. It is quite old, in fact, from the years 1985-94. These returns reveal that Trump during that time reported huge losses on his taxes and paid no income tax. The New York

Close up of an old last will and testament document Getty People tend to avoid estate planning like it’s the plague, but no financial plan can be complete without one. Sure, thinking about your own demise doesn’t rate high on the “fun scale”, but not everything in life does. To delay or get out of

Panic reigns in countless accounting firms across the nation as one of the top providers of tax software, CCH, a subsidiary of Wolters Kluwer, a Dutch company, has gone dark this week.  Here is what they have to say about it. On Monday, May 6, we started seeing technical anomalies in a number of our

Let’s be honest.  The State of California has an insatiable appetite . . . for your money. As business owners hold about 70% of wealth, the vast majority of “contributors” to the sought-after tax increase discussed below will be business owners.  And, for those readers who are not residents of California but have any assets

Atlantic City, N.J.: Donald J. Trump inside the casino of the Taj Mahal in Atlantic City, NJ. on March 16, 1990. (Photo by Joe Dombroski/Newsday via Getty Images) Newsday via Getty Images Do you consider not paying taxes “sport?” The President of the United States says he does. And that raises serious concerns about the

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 Social Security’s earnings test, whether to file retroactively before 70, when spousal benefits can become available, how delayed retirement credits (DRCs) are calculated and applied and how foreign pensions

A worker prepares the Orion Drilling Co.’s Polaris oil and gas drilling rig to have the mast lifted upright for the first time at the company’s assembly and integration facility in Corpus Christi, Texas, U.S., on Wednesday, April 4, 2012. Oil BLOOMBERG NEWS The beginning of the US economy’s second year under the Tax Cuts

In its long history, China hasn’t been used to being pushed into a corner. But it is in that situation this week in trade negotiations, where it’s being called on to negotiate a deal under the threat of new tariffs from Washington. Washington’s threats have left observers guessing what Beijing’s next step will be. One

Share to facebook Share to twitter Share to linkedin HOUSTON, TX – MAY 04: Stephen Curry #30 of the Golden State Warriors goes up for a lay up defended by Austin Rivers #25 of the Houston Rockets in the fourth quarter during Game Three of the Second Round of the 2019 NBA Western Conference Playoffs

The White Walkers weren’t the only undead threat Americans should be concerned about. JONATHAN NACKSTRAND/AFP/Getty Images Millions of Americans watched the 70th episode of HBO’s Game of Thrones last Sunday to see who would win the ultimate battle between the people of Westeros and the undead army of the White Walkers. But there is another