Taxes

Economic Security Planning, Inc. Today’s column addresses questions about receiving spousal benefits after receiving retirement benefits, whether it’s possible to reduce a benefit amount to remain under a limit and applying for disability benefits while working and receiving survivor’s benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president

Topline House Democrats are likely to release a smaller coronavirus relief package sometime next week if they don’t agree to a deal with Republicans before then, according to a report from Tax Notes on Thursday. House Democrats look set to introduce a smaller stimulus bill next week if an agreement can’t be … [+] reached

Committee for Greater LA report, “No Going Back,” calls for fighting inequality and racism as … [+] response to pandemic. Committee for Greater LA Six months into the Covid pandemic, many people are asking when we can “return to normal.”  But a remarkable new report “No Going Back:  Together for an Equitable and Inclusive Los Angeles” rejects that

getty Beginning in January 2021, the Internal Revenue Service (IRS) will be expanding the voluntary Identity Protection PIN (IP PIN) program. What Is An IP PIN? An IP PIN is a six-digit number assigned to eligible taxpayers to help prevent tax refund fraud on federal income tax returns. An IP PIN helps the IRS to

Disney’s new CEO Bob Chapek seen here at Hong Kong Disneyland. The company paid less than half a … [+] percent in federal taxes last year. ASSOCIATED PRESS Depending on who you ask, paying taxes contributes to the commonwealth of a nation. But if you can avoid it, it contributes to the company’s bottom line,

Uniswap is a popular decentralized cryptocurrency exchange which has gained a lot of popularity in the past few months. On September 16th 2020, it distributed a governance token called, UNI, to reward early adopters of the platform. So far, over 150,000 addresses have claimed UNI tokens.  UNI Tokens Are Taxable As Ordinary Income Per the

WASHINGTON, DC – SEPTEMBER 16: U.S. President Donald J. Trump speaks to the press during a news … [+] conference in the James Brady Press Briefing Room of the White House on September 16, 2020 in Washington, DC. Trump continues to trail challenger Joe Biden in the polls with the election less than two months

Wildfires, high prices and taxes can seem like three strikes against California. The cost of living is high, and tax rates are too. California’s 13.3% rate is the same on ordinary income and capital gain, and under a pending tax bill, that top 13.3% rate could climb to 16.8%, retroactive to January 1, 2020. What’s

Topline JPMorgan Chase CEO Jamie Dimon told CNBC that he supported higher taxes on the rich as a way to boost economic growth, but that a wealth tax would be “almost impossible” to implement compared to an income tax. The JPMorgan CEO said higher taxes on the rich could help economic growth. Alex Wroblewski/Getty Images

Economic Security Planning, Inc. Today’s column addresses questions about how Social Security spousal benefit rates are calculated, when divorced spousal benefits can be available and widow’s benefits before full retirement age while still working. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which

While tax, appraisal, and legal considerations are all important for making effective and compliant contributions of Bitcoin (and other cryptocurrencies), the practical question remains – how does a donor move virtual currency from their ownership to a charity they support? getty Many charities do not have the expertise on staff, which is understandable considering that

Human crowd forming continent Africa on white background. Horizontal composition with copy space. … [+] Clipping path is included. Population and Social Media concept. getty The countdown to October — and the release of the OECD’s long-awaited international tax overhaul — is on. Even if there is political agreement on the OECD’s proposal, it will take some

Topline At least 8.7 million or more Americans could be at risk of losing out on $1,200 coronavirus stimulus checks due to incomplete IRS and Treasury Department records, according to a Monday report from Congress’ auditing arm, which examined the unprecedented $2.6 trillion lawmakers passed in emergency support as the coronavirus pandemic took hold. Non-tax

Senator Elizabeth Warren, a Democrat from Massachusetts and 2020 presidential candidate, walks on … [+] stage during a campaign event at Iowa State University in Ames, Iowa, U.S., on Monday, Oct. 21, 2019. Warren unveiled an $800 billion plan to fund her progressive proposal for reshaping U.S. public education and disclosed that her signature wealth

getty While the price of gold rose to new highs during the summer, you probably saw a number of ads recommending investing in gold through an IRA. You’re probably also aware that gold is a “collectible,” and that IRAs aren’t allowed to own collectibles. Both those thoughts are correct. Gold is a collectible, but there

Economic Security Planning, Inc. Today’s column addresses questions about what happens to benefits lost to the earnings test, filing for spousal benefits before full retirement age, available benefits with multiple exes and survivor benefits and the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic

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

Phil Murphy, governor of New Jersey, in 2019 when he again proposed a millionaire’s tax. The … [+] proposal ultimately succeeded this week. Photographer: Ron Antonelli/Bloomberg © 2019 Bloomberg Finance LP New Jersey has approved a millionaire’s tax, making it the fourth state (including Washington, D.C.) to do so. The agreement reached Thursday between Gov.

Years ago, when entertainer Jimmy Durante ended an appearance — whether live or on television — he would always sign off with his trademark catchphrase, “Good night, Mrs. Calabash, wherever you are.”  It was a tribute to his first wife who died in 1943, which he would continue until his retirement nearly 30 years later.

getty Gold is a hot investment again. There are a lot of ways to invest in gold, and there are different tax consequences for each of these methods. Gold investors aren’t going to have equal after-tax returns, and part of the reason is the differing tax treatments of the ways to invest in gold. Consider