getty Taxpayers throughout the country are asking their accountants whether they will be able to deduct expenses that were paid with PPP loans. The IRS has taken the position that any expense paid that facilitates forgiveness of a PPP loan will not be deductible. Hopefully the bipartisan COVID-19 bill will pass because the language thereof
Month: December 2020
A string of taxpayer victories in Conservation Easement cases has many taxpayers who have sponsored or invested in these transactions re-thinking whether settling pending tax court litigation is a good idea, after all. The Eleventh Circuit’s decision in Pine Mountain Preserve, LLLP v. Commissioner, coupled with recent Tax Court decisions in Kissling v. Commissioner and Rajagopalan
The one-of-a-kind setting in California was designed to evoke Europe. Hilton & Hyland Get your bids ready. After two years on the market, America’s most expensive home, Villa Firenze, will be going to auction on January 26 with no reserve and no minimum bid. Currently listed for $160 million, the estate in Beverly Hills, California
XiFotos | E+ | Getty Images If you planned to max out your 401(k) or other employer-sponsored retirement plan before the end of the year, you’ve likely run out the clock. An employee contribution deadline is Dec. 31 or the year’s final paycheck. Employers generally need a few weeks to process requests such as putting
Russian President Vladimir Putin seen speaking on the screen during his annual press conference, on December 17, 2020, in Moscow, Russia. Mikhail Svetlov | Getty Images News | Getty Images LONDON — Russia’s President Vladimir Putin called on the public to get the coronavirus vaccine, but is yet to receive it himself, he said. Speaking
Take a look at some of the biggest movers in the premarket: Accenture (ACN) – The consulting firm earned $2.32 per share for its fiscal first quarter, compared to a consensus estimate of $2.05 a share. Revenue beat estimates as well. Accenture also raised its full-year forecast, with demand for digital and cloud services remaining
When a Covid-19 outbreak emerged at one of Rob Katz’s Colorado ski resorts in March, he knew it was going to be a game changer. “It was a defining moment,” the Vail Resorts CEO told CNBC. “I immediately felt a different level of responsibility.” That was true not only for the mountain holiday operator’s 34
Every December for the past 13 years Art Cashin and his “friends of fermentation” have gathered at the front bar at Bobby Van’s Steakhouse across from the NYSE to celebrate the holidays, and we’ve used the opportunity to get Art’s take on the year ahead. We weren’t able to meet at Bobby Van’s this year,
Climate change and low-carbon solutions are impacting investors’ portfolios. Mitch Diamond | Getty Images For some advisors, embracing environmental, social, and good governance principles means more than just investing sustainably; it also means expressing their values through their practices’ corporate structures and activities. For example, BSW Wealth Partners in Boulder, Colorado, recently converted to a
It’s a good time for a Roth conversion. getty By now, many have heard about Roth IRAs and how Roths allow tax-free growth. Often, we fail to consider the huge opportunity to accumulate wealth by the combination of the lack of RMDs and the long-term compounding opportunities presented by a Roth. Roth IRAs can allow
MT PLEASANT, WI – JUNE 28: U.S. President Donald Trump (C) breaks ground along with Wisconsin Gov. … [+] Scott Walker (L) and Foxconn CEO Terry Gou (R) at the 2018 groundbreaking for the highly subsidized Foxconn plant in Wisconsin. The project failed to meet job and development goals even with almost $4 billion in
Tahoe Mountain Realty listed designer Tracy Flaherty’s seven-bedroom Truckee estate for $7.25 … [+] million in November. The home sold for $6.9 million. Tahoe Mountain Realty Tracy Flaherty knows a thing or two about remodeling. From Arizona to Seattle and Utah, the Phoenix resident has been building and styling her own homes and helping friends
Getty Images It’s looking more likely that direct payments to Americans will be included in the new coronavirus aid Congress aims to pass before lawmakers head home for the holidays. Those stimulus checks could be around $600 to $700 per individual, Sen. John Thune, R-S.D., told reporters on Wednesday. That’s just about half of the
Former Health and Human Services official Dr. Mario Ramirez told CNBC that he was “concerned” about equitable access to Covid-19 resources around the globe, and criticized the Trump administration for not participating in the multilateral COVAX facility. “One of the things that was unfortunate about the Trump administration’s approach to the pandemic, was that they
Institutional Investor Hall of Famer Richard Bernstein sees a risky market dynamic. He’s questioning why so many investors prefer momentum names in technology when the economy is getting ready to boom. “The whole innovation disruption thing is becoming a sucker’s bet,” the Richard Bernstein Advisors CEO and CIO told CNBC’s “Trading Nation” on Wednesday. “Fundamentals
For over two decades, Najuma Atkinson worked her way up at Dell Technologies and broke barriers — Atkinson started as a tech support manager in 1999 and, today, she is senior vice president of human resources shared services and the only Black woman SVP at the company. One of the most important things she has
Stock trading app Robinhood is being accused of reckless, exploitive business tactics on its young, millennial clientele. “The worst aspect of what they do clearly is they way they are gameifying the idea of investing,” Massachusetts Secretary of the Commonwealth William Galvin, who filed the compliant, told CNBC’s “Squawk Alley” Wednesday. “This is a very
Investors are increasingly interested in companies that are environmentally and socially conscious, and the world’s largest asset manager is no exception. In an annual letter to CEOs earlier this year, BlackRock Chairman and CEO Larry Fink said “climate change has become a defining factor in companies’ long-term prospects … But awareness is rapidly changing, and I believe
The way to understand how premiums are calculated on a term life insurance policy is to recognize that term life insurance is a collection of renewable one-year term policies. Consider that I buy a one-year term policy as a forty-year-old male. Given the mortality data I am using, the insurance company projects that over the
close up employee man hand put number 1 of cube shape wood to make calendar date December 31 at … [+] office desk for the last day of the last year countdown concept getty No one likes to overpay in taxes, but one of the biggest mistakes people make is waiting until April 15th to
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