Taxes

Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses denial of a restricted application for spousal benefits only, whether benefits for an ex impact a decision to remarry, the possibility of voluntarily ending disability, reinstating retirement benefits at
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The IRS has announced a global settlement of cases involving abusive 831(b) captive insurance schemes, which announcement (IR-2019-157) is hyperlinked here and at the bottom of this article and is well worth reading in full, down to the last period in the Appendix. According to the announcement, “The settlement requires substantial concession of the income
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Big pharma companies including Purdue and others are settling up with governments and private parties over the devastation they have allegedly caused or enabled with opioids. The settlements are notable in size, hundreds of millions of dollars, and some have strange mechanics. But they seem to have one thing in common: taxes. It seems likely
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. Senator Elizabeth Warren (Photo by Nic Antaya for The Boston Globe via Getty Images) Getty Senator Elizabeth Warren released a Social  Security expansion plan on the morning of September 12, the day of the next Democratic presidential primary debate. David Leonhardt of the New York Times was among the first to report about it.
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Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column examines whether restricted applications reduce retirement benefits, potential effects of foreign pensions, whether SSA’s benefit estimates include reductions due to the WEP, maximizing widow(er)’s benefits and when during the month
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As a parent who’s just sent our youngest child off to college, financial aid is on the top of my brain. Like many parents, we made every effort to set up our daughter for a debt-free degree. We spent almost two years on selecting the best-fit college for her. It was an anxious time, to
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The tarp covers the field before a baseball game between the Washington Nationals and the New York Mets at Nationals Park, Sunday, Sept. 23, 2018, in Washington. (AP Photo/Andrew Harnik) ASSOCIATED PRESS New York Times reporters Jesse Drucker and Eric Lipton wrote a well-reported piece the other day on the Tax Cuts and Jobs Act’s Opportunity Zone (OZ) provisions.
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Shutterstpcl Since 1999, the home-office deduction is no longer a red flag — millions of Americans benefit from this deduction each year. Countless taxpayers run businesses from home, and the IRS understands this. The income-requirement rule also limits the use of this deduction for profitable enterprises, which appeases IRS concerns about abuse and hobby-loss businesses. Before
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Colorful applications hovering over young hand Getty According to the Mary Meeker internet trends report, 51% of the world (3.8 billion people) are internet users, an increase from 49% (3.6 billion) in 2017. Smartphones are the primary internet access point for many people across the globe; emerging markets in remote geographies are a mostly untapped
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In this 2017 file photo, Jerome Powell, before being confirmed as chairman of the Federal Reserve, sits in the audience waiting to testify during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington. (AP Photo/Carolyn Kaster, File) ASSOCIATED PRESS I hope Jerome Powell shows some backbone at the next
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The Texas State Capitol building, center, stands in downtown Austin, Texas. Apple Inc. announced in Dec. 2018 it’s opening new offices in Austin, investing $1 billion and bringing as many as 15,000 jobs to a city that was already the fastest growing in the nation for three years running. Photographer: Callaghan O’Hare/Bloomberg © 2018 Bloomberg
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Shutterstock Many securities traders incur significant tax bills on phantom income caused by “wash sale losses disallowed” on form 1099-Bs. Traders are often surprised because most brokers don’t report wash sale (WS) loss calculations during the year. In this blog post, learn how to deal with WS loss adjustments and how to avoid them in
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Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses filing early in anticipation of potential future benefit cuts, who can still file restricted applications, potential effects of pensions on Social Security benefits, the availability of survivor benefits and
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