Taxes

Houston, Texas has some of the highest effective property tax rates in the country. Image by David Mark from Pixabay The pandemic has allowed more people to work from home and surveys show that many want to make their remote worker status permanent. That gives the opportunity for some folks living in higher tax states

getty As more and more states legalize marijuana, pressure has been growing for Congress to take some action. This week, the House passed legislation that would end the federal ban on marijuana. The Marijuana Opportunity Reinvestment and Expungement Act (MORE Act) garnered support from both sides of the aisle, passing with a 228-164 vote in

NETHERLANDS, Rotterdam: Dutch party leaders Paul Tang (PvdA), Hans van Baalen (VVD), Dennis de Jong … [+] (SP), Esther de Lange (CDA) , Sophie In ‘t Veld (D66) and Marcel de Graaff (PVV) attend a debate at the Erasmus University in Rotterdam on May 19, 2014 in preparation for the upcoming European elections. (Photo by

DANVILLE, PENNSYLVANIA, UNITED STATES – 2020/10/10: A Trump 2020 re-election sign and an American … [+] flag are displayed on a piece of farm equipment in Valley Township, Montour County, Pennsylvania. (Photo by Paul Weaver/Pacific Press/LightRocket via Getty Images) Pacific Press/LightRocket via Getty Images In the aftermath of Joe Biden’s election, there’s lots of attention

Economic Security Planning, Inc. Today’s column addresses questions about whether widow’s benefits increase when a late spouse’s previous spouse passes away and no longer collects on the late spouse’s record, whether it’s possible to change when checks arrive and taking spousal benefits before retirement benefits. Larry Kotlikoff is a Professor of Economics at Boston University

The IRS is sending out CP2000 tax letters to certain crypto users who received a Form 1099-K from crypto exchanges. These letters typically show a large proposed tax amount and terrifies the recipient at the first glance. This post describes how these letters are generated and steps you can take to not pay the proposed

WASHINGTON, DC – DECEMBER 01: Sen. Mark Warner (D-VA) speaks alongside a bipartisan group of … [+] Democrat and Republican members of Congress as they announce a proposal for a Covid-19 relief bill on Capitol Hill on December 01, 2020 in Washington, DC. The roughly $908 billion proposal includes $288 billion in small business aid

Given taxes and filing deadlines, would your prefer pay in 2020 or the first week in January? “Pay me next year” requests are common this time of year with employers, suppliers, vendors, customers, and more. After all, if you are paid in December of 2020, taxes are due April 15, 2021. If you are paid in early

Grover Cleveland at Desk (Photo by Library of Congress/Corbis/VCG via Getty Images) Corbis/VCG via Getty Images No matter how you voted in the presidential election, Grover Cleveland should be your guy this month. If you’re a disappointed Trump supporter, take solace in Cleveland’s singular achievement: He is the only American president to serve two nonconsecutive terms. We tend to think

December 1 is Giving Tuesday 2020. Donating stock to charities can be more effective and … [+] tax-efficient than cash donations. GETTY As the stock market reaches new highs, the needs of charities and nonprofits are greater than ever. Making donations of stock instead of cash provides critical financial support to them and a potentially

getty Hitesh Madhubhai Patel (a/k/a Hitesh Hinglaj) of Ahmedabad, India, has been sentenced to 20 years in prison for his role in operating and funding call centers that defrauded U.S. victims out of millions of dollars between 2013 and 2016. Patel, an Indian national, was prosecuted in the United States after being extradited from Singapore

When should you take money from an inherited 401(k)? getty As part of the Secure Act, most adults who inherit a 401(k) from a parent must take the money in 10 years. Depending on your financial position and life stage, this could complicate your tax situation. After inheriting a 401(k) from a parent, consider ways

NEW YORK, NY – SEPTEMBER 19: Entrepreneur and philanthropis Sean Parker speaks onstage during … [+] Global Citizen: Movement Makers at NYU Skirball Center on September 19, 2017 in New York City. (Photo by Theo Wargo/Getty Images for Global Citizen) getty Professor Calvin Johnson of the University of Texas recently trashed an innovative tax program

getty The IRS recently issued proposed regulations that will reduce required minimum distributions (RMDs) on IRAs, other qualified retirement plans, and annuities. It’s a small help for retirement account owners who don’t need all the money they’re required to take from their plans each year. Most owners of IRAs and other qualified retirement plans who

Plan ahead to lower your Medicare premiums now, the move that you need to make before New Year’s … [+] Eve. AFP via Getty Images December is the time for year-end tax planning, which leaves many people forgetting to plan to lower their Medicare premiums. To be real, most people probably have no idea that

LONDON, ENGLAND – NOVEMBER 21: A visual representation of the cryptocurrency Bitcoin on November 21, … [+] 2020 in London, England. The price of bitcoin has risen sharply in the the last two months, to a high of around 18,800 USD, gaining nearly 100% since September. This rise has propelled the price of the cryptocurrency

Economic Security Planning, Inc. Today’s column addresses questions about whether filing for retirement benefits will mean an end to spousal benefits, whether filing for divorced spousal benefits at 62 would affect retirement benefits and what happens to the money a person paid into Social Security when they die. Larry Kotlikoff is a Professor of Economics

Topline After a three-month delay sparked by antitrust concerns, TurboTax-developer Intuit has received approval from the Department of Justice to move forward with its $7.1 billion takeover offer for fintech giant Credit Karma after they agreed to divest Credit Karma’s tax business to Square. TurboTax products sit on display at Costco. getty Key Facts The

Concept of moving to foreign countries and living as expat. getty In the latest installment of In the Pages, Tax Notes International contributing editor Robert Goulder sits down with the authors of the Tax Notes article “A Simple Regulatory Fix for Citizenship Taxation.” The authors discuss regulatory actions that Treasury can take that would, in the absence of legislative change,

Then-Fed Chair Janet Yellen testifies before a Senate Banking, Housing and Urban Affairs Committee … [+] hearing in 2017. (Photo By Tom Williams/CQ Roll Call) CQ-Roll Call, Inc via Getty Images Wall Street reacted positively to President-elect Joe Biden’s nomination of Janet Yellen for Treasury secretary. The Dow Jones Industrial Average hit a record high