Ungureanu Vadim | EyeEm | Getty Images Student loan forgiveness is now tax-free, thanks to a provision included in the $1.9 trillion federal coronavirus stimulus package that President Joe Biden signed into law on Thursday. Formerly, any student loan debt canceled by the government was considered taxable and levied at the borrower’s normal income tax
Month: March 2021
Tax Time Shutterstock Even though it’s too late to elect Section 475 MTM for tax-year 2020, the opportunity for 2021 is available now. In this blog post, I will cover the scenarios that make it prudent to obtain Section 475 for tax-year 2021 and how to make the election. Before I dive in, let’s review
The exterior of Jeffrey Epstein’s Manhattan mansion at 9 East 71st st. by Scott Heins, Getty Images A little under $51 million from the sale of Jeffrey Epstein’s Manhattan mansion was transferred Thursday to the estate and compensation fund for the alleged sex trafficker’s victims, estate lawyer Dan Weiner told Forbes. A spokesperson for the
People order breakfast at Bill Smith’s Cafe, after Texas Governor Greg Abbott issued a rollback of coronavirus disease (COVID-19) restrictions in McKinney, Texas, March 10, 2021. Shelby Tauber | Reuters Since the World Health Organization declared the coronavirus a pandemic one year ago Thursday, new Yelp data showed nearly a half million businesses opened in
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about potential effects of survivor’s benefits from public pensions, how the earnings test might be applied when someone reaches full retirement age in January and which month to apply to ensure full age 70 benefits. Larry Kotlikoff is a Professor of Economics at Boston University
A patient is taken to an ambulance outside the Royal London Hospital in London during England’s third national lockdown to curb the spread of coronavirus. Picture date: Wednesday February 17, 2021. Ian West | PA Images | Getty Images The highly contagious coronavirus variant first identified in the U.K. is associated with a 64% higher
Chinese Premier Li Keqiang delivers his work report during the opening session of the National People’s Congress at the Great Hall of the People in Beijing on May 22, 2020. LEO RAMIREZ | AFP via Getty Images BEIJING — As tensions with the U.S. simmer, China’s second-in-command emphasized the country’s need to build up its
A virtual art piece titled “Everydays: The First 5000 Days.” Created by digital artist Beeple, it’s the first NFT-based work of art to go on auction at Christie’s. Christie’s A non-fungible token by the artist Beeple sold at Christie’s for over $60 million, making it the most expensive NFT ever sold at auction. The final
Wharton School’s Jeremy Siegel told CNBC on Thursday he believes stocks will still move higher this year, even in the face of rising bond yields and inflation concerns. In an interview on “Squawk Box,” the finance professor said the $1.9 trillion coronavirus relief package, which President Joe Biden hopes to sign into law Friday, is
If you’ve discovered your 2021 Medicare Advantage Plan is not a good fit for you, now is the time to do something about it. Through the end of March, Advantage enrollees can either drop their plan and return to basic Medicare (Part A hospital coverage and Part B outpatient care) or switch to another Advantage
New York State Capitol. (Photo by Hans Pennink / POOL / AFP) (Photo by HANS PENNINK/POOL/AFP via … [+] Getty Images) POOL/AFP via Getty Images Hurt severely by Covid in many ways, states and cities have nonetheless enjoyed a financial boon in the pandemic. To be sure, fighting the pandemic has cost them a lot,
Tax season is coming, and real estate agents should be aware of the deductions they can take advantage of. Unfortunately, there’s no single overarching listing that can tell you about all the deductions you should be using to lower your taxes. For many agents, the taxman can take a considerable bite out of their earnings.
WASHINGTON, D.C. – APRIL 14: Attendees rally on the West Front of the U.S. Capitol building with … [+] Teamsters Union retirees who traveled from across the country to voice their opposition to deep cuts to their pension benefits on April 14, 2016, in Washington, D.C. Thousands are facing massive pension cuts because of a
Nissan’s logo is illuminated on a prototype of its new all-electric Ariya crossover. Nissan’s Z Proto performance car is reflected in the vehicle’s grille, while a redesigned Nissan Pathfinder SUV sits in the background. Michael Wayland / CNBC Nissan Motor is making significant progress on a global restructuring plan to right-size operations and return to
A Model Y vehicle displayed at a Tesla flagship store on Jan. 4, 2021 in Shanghai, China. Gao Yuwen | Visual China Group | Getty Images BEIJING — Tesla‘s Model Y is getting off to a solid start in China, less than three months since deliveries began. The mid-size SUV was the third best-selling electric
Micronesia has confirmed only one case of Covid-19 to date. The Polynesian island of Samoa and the South Pacific island of Vanuatu have just three cases each. Sounds like safe travel choices? There’s just one problem — none are allowing in tourists. Many islands that opened to tourists during the pandemic experienced rising coronavirus infection
The headquarters of the US Securities and Exchange Commission (SEC) is seen in Washington, DC, January 28, 2021. Saul Loeb | AFP | Getty Images The Securities and Exchange Commission on Wednesday issued a warning against special purpose acquisition companies backed by celebrities, urging investors to think twice before jumping in. “Celebrity involvement in a
Ika84 | E+ | Getty Images Private health insurance through the nation’s public exchanges is set to become more affordable — at least for a couple of years. The $1.9 trillion Covid relief package, which received final congressional approval Wednesday and will soon head to President Joe Biden for his signature, includes provisions that will
The federal tax rate on cryptocurrency capital gains ranges from 0% to 37%. Your specific tax rate primarily depends on three factors: 1 / The accounting method used for calculating gains. 2/ How long you held the coins before selling (Holding period). 3/ Your overall annual income (including non-crypto sources such as W-2) and tax
CEO at Fyxt Inc. getty When one thinks of industrial real estate, images of smokestacks and hulking machines are conjured up, along with dirt, grime and trash. Diving deeper, however, one finds that the industrial real estate market is actually quite a reasonable value proposition. Industrial, after all, is an “essential” real estate class, has tenants
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