Taxes

Economic Security Planning, Inc. Today’s column addresses whether Social Security benefits are recalculated due to continued employment, public pensions and divorced spousal benefits, how divorced spousal benefits are calculated, when spousal benefits are available and foreign pensions. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security
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Each year, the IRS announces changes to retirement plan contributions for 401(k) plans, individual retirement accounts and more. If you’re in the process of saving for retirement, it is essential to know the current contribution limits and take maximum advantage of them, if possible. The most notable changes for the coming year apply to 401(k)
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The IRS wants us to know that it is getting really serious about abuse in the area of the syndication of conservation easements. IR-2019-182 issued on November 12 tells us: “The Internal Revenue Service announced today a significant increase in enforcement actions for syndicated conservation easement transactions, a priority compliance area for the agency. Financial
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Getty It’s benefits season, and that means employees are making mistakes that will cost them in headaches and dollars. “You really have to sit down and pay attention to your benefits like you never had to before,” says Judith Wethall, an employee benefits lawyer with McDermott Will & Emery in Chicago. It’s complicated enough if
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Getty Everyone’s heard the stories of celebrities who died without a proper estate plan in place. It’s been a hot topic in the last few years with Prince and Aretha Franklin serving as unfortunate faces of the phenomenon. But it’s not just freewheeling entertainers. Abraham Lincoln – a lawyer by trade – didn’t have one either, which leads
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null Getty There’s no question that the world of news is changing. The chances are that you’re accessing this piece from your mobile device, a departure from the way that we consumed our news a decade ago. Now, the news landscape may be changing again. Once deeply connected to for-profit organizations, media outlets are considering
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DES MOINES, IOWA – NOVEMBER 1, 2019: Democratic presidential candidate Sen. Elizabeth Warren (D-MA) … [+] before the start of the Liberty and Justice Celebration. (Photo by Scott Olson/Getty Images) Getty Images Democratic presidential candidate Elizabeth Warren has, as promised, released a plan to pay for her Medicare for All health insurance plan. She has come
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According to a story by Maggie Habberman of theNew York Times, our President has decided that he is no longer a New Yorker, but rather a Floridian. I doubt very much that President Trump reads my stuff. Nonetheless, in response to his complaint that the Tax Cuts and Jobs Act was killing him, I wrote
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If you’re running a company, you’re about to discover new costs. Around the country, fires and … [+] floods are shutting down businesses and raising their expenses. You need to figure out how to pay these new hidden “taxes.” AFP via Getty Images If you’re running a company, you’re about to discover new costs that
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Most multinationals expect that public country-by-country reporting will become a reality within the next few years — even if politicians can’t yet agree on the proposals. Getty In surveys conducted in 2018 and 2019, Deloitte (which has been tracking business reactions to base erosion and profit-shifting initiatives) found that over 75 percent of multinational respondents see public CbC
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We are entering the giving season when the majority of charitable donations are made. Most affluent individuals make charitable donations, but the vast majority continue to simply pay cash. That’s the most expensive and inefficient possible method to benefit their charitable causes. It’s easy to write a check or pull out your credit card, but
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Year-End is a great time for Tax-Loss Harvesting. Getty  The goal of tax-loss harvesting to lower your overall taxes. With proactive tax planning, you may be able to lower your taxable income by selling off losing investments. Similarly, you can offset some long term gains by selling investments that may have lost money over the long term. In
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No one is a fan of PG&E right now, as Californians face the twin dangers of fires v. blackouts. As PG&E is cutting power again to vast numbers of businesses and consumers in what could be the biggest deliberate blackout ever, the bankrupt utility is drawing even more criticism. Despite the protection of the bankruptcy
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Economic Security Planning, Inc. Today’s column addresses whether dividends and interest are subject to the Social Security earnings test, spousal benefits before retirement benefits, public pensions and restricted applications, retirement benefits before spousal benefits and restating after suspending a retirement benefit. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and
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The robots are coming for the tax planners, but from what I can see, we will probably last longer than the truck drivers. This is my tentative conclusion from poking around with Blue J Legal’s Tax Foresight. I spoke with CEO Ben Alarie about the company and the product. Then he had his team give
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