When it comes to Section 183 (Activities Not Engaged In For Profit), commonly referred to as the hobby loss rule, my goal is to be your go-to-guy. In the last year (12/13/2018-12/12/2019), I have noted fifteen hobby loss decisions . One of the decisions concerned evidence and was not a final ruling. Taxpayers Behind And
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Getty Have you ever heard the phrase “sometimes the cure is worse than the disease”? This may be one of those cures. Even the most casual observer will no doubt have noticed the attention paid to the rising student debt. This has inevitably led to creative ideas aimed at eradicating that liability. “There is a
In November 2020, Baltimore’s American Visionary Art Museum will mark its 25th anniversary with a retrospective show featuring work from its past 40 exhibitions. Pictured here, “What, Me Worry” bed by Patty Kuzbida. Nick Prevas | AVAM If history, art and eclectic adventures are what you seek out when you travel, you’ll have plenty of
There’s one form of discrimination that the 1990 Americans with Disabilities Act didn’t fix: economic. Until recently, people who were eligible for federal assistance programs such as Medicaid and SSI still faced an uneven playing ground. Using these programs meant you could not have assets over $2,000, a paltry amount when you consider life’s various
For some, 2020 will be the year that retirement becomes a reality. For others, it will be a financial improbability. Retirement readiness nationwide is shaky overall. Only 23% of men and just 12% of women are “very confident” in their ability to fully retire with a comfortable lifestyle, according to recent research from the Transamerica
Stressed Asian Senior Couple calculate their monthly expense with laptop computer. Debts, Saving, … [+] Financials with Retirement. Getty Worried about a 2018 (or worse, a 2009) repeat? Good news: I’ve got a closed-end fund (CEF) that should be on your list no matter what happens: it carries a special “insurance” policy if markets head
The Symon is among properties poised to bring new life to one of Brooklyn’s most venerable … [+] thoroughfares, Schermerhorn Street. Volley Studio Could a street whose legacy dates back hundreds of years be the new Holy Grail for today’s higher-end condominium buyers? If a recent tidal wave of development on Brooklyn’s Schermerhorn Street is
I had just turned 21 and was celebrating my first legal drink when my friend pointed out that this was my last big birthday for a long time. I remember feeling a little sad. Now I’d add: Not long enough. Five years later, we find ourselves drinking to — if not celebrating — another turning
Technology firms dominate your online activity, so why not your wallet, too? Most recently, Google has announced it will offer checking accounts as part of a project code-named Cache, notching the boldest move yet by tech into consumer banking. In fact, the company is just the latest Silicon Valley leader to make a bid to
Hero Images | Hero Images | Getty Images Whether it’s a lemonade stand, mowing lawns or even — these days — developing a new app, there are plenty of ways kids can become entrepreneurs. They don’t even necessarily have to be a big success. Just developing an entrepreneurial mindset can help them form necessary life
With the Mega Millions jackpot at $340 million, Friday the 13th might turn out to be someone’s ultra-lucky day. Heading into Friday night’s drawing, the top prize has been climbing for more than two months with no one matching all six numbers in the twice-weekly drawings. And while the odds are stacked against a jackpot
Getty As December 31 creeps closer, some employees are wondering what Santa will leave in their payroll stockings. Visions of huge bonuses – like the $10 million in bonuses to be paid to the 198 employees of Baltimore-based St. John Properties – may be dancing in their heads. But statistically, most bonuses and gifts are
Getty It’s the second day of my 12 Days of Charitable Giving for 2019. Readers have suggested deserving charities over the past few weeks, and I’ll be posting the results here. Today’s charity is MEANS (Matching Excess and Need for Stability) Database. MEANS tackles hunger in a novel way. Too often, grocery stores and restaurants
CNBC’s Jim Cramer gave viewers a peek at the week of earnings reports. Later in the show the “Mad Money” host says Costco has a China problem, but it’s not the tariffs on imports from the country. Cramer’s look at the week ahead An initial United States-China trade agreement appears to finally be coming to
Chinese President Xi Jinping and President Donald Trump at the G-20 Summit in Osaka on June 29, 2019. Brendan Smialowsi | AFP | Getty Images Amid a slew of headlines and tweets, a long-awaited phase one trade deal between the U.S. and China has finally been agreed upon. However, Goldman Sachs is not so happy
skynesher | E+ | Getty Images For millions of Americans, unexpected bills can be summed up in two words: medical debt. Surprise health-care costs have affected about 137.1 million adults in the past year, according to recent research. And many Americans are turning to credit cards to help manage those debt burdens, according to CompareCards.com.
Getty As people look ahead to their retirement years, a primary objective is to identify areas of risk, with the goal of eliminating each and every risk that they believe could cause them harm. Experienced planners are trained to listen to these concerns, and their recommendations are typically well-intentioned efforts to meet this goal of
J.P. Morgan Chase CEO Jamie Dimon told employees that he’s “disgusted by racism and hate in any form” after a New York Times report detailed instances of discrimination at the bank’s branches. “We must make sure that the culture we aspire to reaches every corner of our company,” Dimon said in a memo sent late
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters With trade tensions toned down, stocks have clearance to rally into year-end, a traditionally positive time for stocks. Stocks surged to record highs in the past week, as the U.S. and China moved to announce a phase one trade deal
Horizontal photo close up of male businessman hand holding pen putting signature on official … [+] document contract paper binding agreement concept banner for website header design with copy space for text Getty Though no one likes to think about this possibility, sometimes even the most dedicated buyers get cold feet. When that happens, it’s
Apartment of photographer and Hotel Chelsea resident, Tony Notarberardino. © Colin Miller Located on West 23rd Street, between 7th and 8th Avenues, Hotel Chelsea is firmly part of American lore. Originally opened in 1884, Mark Twain, Allen Ginsburg, Andy Warhol, Arthur Miller, Leonard Cohen, and Patti Smith are among the artists, writers, musicians, and poets who
Alys Tomilson | Getty Images College students apparently have more to worry about these days than their grades and where to head for the weekend’s best party. A new form of financial fraud is exploiting college kids who own cars and are looking to make some extra cash, according to the Federal Trade Commission. Scammers
Hero Images | Hero Images | Getty Images The year is ending but, with a little ambition, you can still find some opportunities to cut your 2019 tax bill. The Tax Cuts and Jobs Act, which went into effect in 2018, did away with several breaks filers could take prior to the end of the
The more formal of the two dining rooms displays the lighthearted decor executed by Julian … [+] Schnabel’s second wife, Jaqueline. Yale Wagner for Sotheby’s International Realty The range of this artist’s work is dizzying, though we know him best for his paintings and for his award-winning movies, including “The Diving Bell and the Butterfly” and
Here’s about 18 minutes, uncut, from the last part of Jon Fortt’s Fortt Knox interview this week with rapper and entrepreneur Fat Joe. They’re in the back of Fat Joe’s UPNYC store in Washington Heights, days after he dropped latest album “Family Ties,” a collaboration with hit-making producer and rapper Dre. The album features features
Costco Wholesale reported lower-than-expected quarterly revenue on Thursday, hit by a slowdown in the number of customers shopping on the warehouse club operator’s website. U.S. grocers have become increasingly dependent on their online businesses to drive sales growth as consumers demand the convenience of shopping at home or at work in a sector saturated with
The Adobe Systems Creative Cloud application is displayed on an Apple iPhone in an arranged photograph taken in Tiskilwa, Illinois. Daniel Acker | Bloomberg | Getty Images Adobe beat Wall Street estimates for fourth-quarter revenue and profit on Thursday on higher subscriptions in its core digital media business, which includes the flagship Creative Cloud suite
Broadcom’s fourth-quarter earnings beat Street estimates on Thursday, but investors were put off by slowing growth in semiconductor business and a lukewarm revenue forecast for 2020, sending its shares down about 2% in extended trade. The 17-month long trade war between the United States and China and sanctions on China’s Huawei Technologies pressured its core
Google released its “Year in Search 2019” results this week, which showed the travel destinations that had the highest spikes in searches in the U.S. from this year to last. The list shows what’s trending — not necessarily what’s most popular — so don’t be surprised if your favorite Caribbean island or mouse-themed amusement park
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