Month: August 2021

Are you disenfranchised from state and local tax deductions because you exceed the SALT cap of $10,000 per year?  Organizing an LLC for your business can convert non-deductible SALT into a business expense. Seventeen states have enacted SALT cap workaround laws, and several others are working towards enactment. IRS Notice 2020-75, issued on Nov. 9, 2020, gave
0 Comments
In this article CVS A view outside a CVS Pharmacy store on July 16, 2020 in Miramar, Florida. Johnny Louis | Getty Images CVS Health on Wednesday outpaced analysts’ expectations for second-quarter earnings and raised its forecast for the year, amid rising coronavirus cases in the U.S. and efforts to reenergize the nation’s vaccination campaign.
0 Comments
In this article GM General Motors Co. Chevrolet Traverse sports utility vehicles (SUV) sit on the assembly line at the company’s Lansing Delta Township Assembly Plant in Lansing, Michigan, on Friday, Feb. 21, 2020. Jeff Kowalsky | Bloomberg | Getty Images General Motors is set to report its second-quarter earnings Wednesday morning. Here’s what Wall
0 Comments
ArtMarie | E+ | Getty Images ‘Vaccine hesitancy’ has become a popular term as public officials urge unvaccinated Americans to protect themselves against the latest Covid-19 outbreak. Now it turns out there’s also another uncertainty — ‘tax hesitancy’ — that is taking hold among some parents over the expanded monthly child tax credit payments. The
0 Comments
Recently, I’ve spoken with several people who are worried about losing some or all their Social Security benefits because of a divorce. This concern points to the confusion surrounding spousal benefits for Social Security. Divorce and subsequent marriages may alter your Social Security claiming options, but will a divorce mean your ex-spouse can take some
0 Comments
In the latest installment of the “Five Minutes on” video series, Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike discuss the relationship between taxes and infrastructure. This transcript has been edited for length and clarity. Robert Goulder: It’s summertime in Washington, D.C., and the heat index isn’t the only thing that’s rising. There’s been a spike in congressional
0 Comments
In this article LYFT Signage for Lyft is seen displayed at the NASDAQ MarketSite in Times Square in celebration of its initial public offering (IPO) on the NASDAQ Stock Market in New York, U.S., March 29, 2019. Shannon Stapleton | Reuters Lyft reported second quarter financial results after-the-bell Tuesday, easily beating on both the top
0 Comments