Taxes

Getty Our schools stopped in-person instruction due to the pandemic in March. Within a few weeks, it was evident that we were going to have to make some changes. My daughter, who was studying for the German AP exam, was encouraged to practice at home. Since I could – at best – only order a

KATWIJK, NETHERLANDS – JULY 7: In this photo illustration, visual representations of the digital … [+] Cryptocurrency, Bitcoin, gold chain necklace and silver coins are displayed atop Euro banknotes on July 7, 2020 in Katwijk, Netherlands. (Photo by Yuriko Nakao/Getty Images) Getty Images How much you paid for your cryptocurrency (the cost basis) has a

Representative Josh Gottheimer, a Democrat from New Jersey and co-chair of the House Problem Solvers … [+] Caucus, center, speaks during a news conference at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Sept. 15, 2020. A 50-member group of House Democrats and Republicans released a $1.52 trillion coronavirus stimulus plan today in a

UNITED STATES – SEPTEMBER 15: Rep. Josh Gottheimer, D-N.J., joined by other members of the Problem … [+] Solvers Caucus, unveils the March to Common Ground, a COVID-19 relief package, at the House Triangle on Tuesday, Sept. 15, 2020. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) CQ-Roll Call, Inc via Getty Images This

Getty Did you file for an extension for your 2019 federal income tax return? If so, you have about a month remaining to file: the deadline to file your federal income tax return on extension is on or before the October 15, 2020. October 15 is the same deadline to file a federal income tax

Economic Security Planning, Inc. Today’s column addresses questions about potential effects of Social Security’s earnings test on spousal benefits, whether benefits lost to the earnings test are repaid and getting retirement benefits after survivor benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc,

The logo of Wolters Kluwer is seen on a screen next to an illustration of the stock market. It is … [+] part of the Amsterdam Exchange Index ( AEX 25 ). (Photo by Alexander Pohl/NurPhoto via Getty Images) NurPhoto via Getty Images We must begin with a qualification. A career spent doing tax work

getty Last year, the Internal Revenue Service introduced a draft version of a form that we haven’t seen since 1982: Form 1099-NEC, Nonemployee Compensation. Form 1099-NEC is intended to replace the nonemployee compensation part of a form many of us have come to know and love: Form 1099-MISC, Miscellaneous Income. Form 1099-MISC is sticking around

Topline President Trump’s controversial nominee for the Federal Reserve board, Judy Shelton, does not currently have enough votes in the U.S. Senate to win confirmation, according to comments from Senator John Thune (R-SD) that were first reported by Bloomberg. Republicans are still hoping to garner the votes needed to confirm Shelton’s nomination to the …

HONG KONG, HONG KONG – SEPTEMBER 13: As A photo illustration of the digital Cryptocurrency, Litecoin … [+] (LTC), Monero (XMR), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Dash are seen on September 13 2018 in Hong Kong, Hong Kong. (Photo Illustration by Yu Chun Christopher Wong/S3studio/Getty Images) Getty Images When the Internal Revenue Service

Trading during Covid. Shutterstock So far, 2020 has been a highly volatile year in the financial markets due to significant uncertainty over Covid-19, a shock to the economy, and job losses. As the virus spread in the U.S, millions of displaced Americans turned to trading in financial markets as a means of making a new

getty Not sure that things are changing in the tax and legal worlds? Here’s proof that it is: The Internal Revenue Service (IRS) has released a new marijuana business webpage to help business owners understand and meet their tax responsibilities. That’s right. Marijuana. Webpage. At IRS.gov. You can find it here. The IRS says that

Economic Security Planning, Inc. Today’s column addresses questions about when you can file for retirement benefits after withdrawing your previous application and repaying all the funds you’ve received, eligibility for retirement and survivor’s benefits, spousal benefits at 62 and delaying the WEP by delaying a pension. Did Social Security Give Me Wrong Information About Withdrawing

Do you have a HELOC mortgage? Your interest on the home equity line of credit may no longer be … [+] tax-deductible thanks to the Trump tax plan. getty If you have a home equity line of credit (HELOC), you may be wondering if you are entitled to a valuable tax deduction for the interest

getty The new per diem numbers are now out – a little earlier than normal. It’s important to note that they are not effective until October 1, 2020. These numbers are to be used for per diem allowances paid to any employee on or after October 1, 2020, for travel away from home. The Internal Revenue

Earlier this week, the Cypriot Minister of Finance, Constantinos Petrides, and the Deputy Minister of Finance of the Russian Federation, Alexey Sazanov, signed a protocol amending the agreement for the avoidance of double taxation concerning taxes on income and capital between Russia and Cyprus. The amending Protocol was signed on behalf of the Republic of

A protest sign reading “Save the Middle Class”. getty For a guy who spends much of his professional life writing about taxes, Jim Tankersley doesn’t seem to put much store in the power of tax. Or at least he thinks he doesn’t. In his new book, The Riches of This Land: The Untold, True Story of

getty The U.S. Bureau of Labor Statistics reported today that the consumer price index (CPI) has increased by 0.4% for August. Over the last 12 months, the index increased 1.3% before seasonal adjustment; this figure has been on the way up since the end of May 2020. In contrast, the chained CPI increased 1.0% over the last

(Photo Illustration by Scott Olson/Getty Images) Getty Images The newly-published results of an extensive survey of public views on taxes find deep partisan divisions and a widespread lack of understanding about federal income and estate taxes. The survey also shows that people’s perceptions of how government spends revenue may have a powerful effect on their

It’s safe to say that the 2020 Presidential election between the incumbent Donald Trump and his challenger, former Vice President Joe Biden, will be the most vicious this country has even witnessed. The first debate remains weeks away, and yet the rhetoric emerging from both sides has already devolved from poignant policy critiques to accusations