Taxes

             While there are some votes still being counted (and even more being contested) there is enough certainty to provide at least an early bird take on taxes – in both the lame duck session and in the new Congress. That said, with control of the Senate dependent on the outcome of the two Georgia runoff elections

Ryan LLC is major tax advisor to oil and gas industry getty G. Brint Ryan and Ryan LLC may be transforming the way high end tax practice is done. And it does not appear that the industry is noticing. Ryan’s recent (September 15) $4.25 million investment investment in Incentify LLC, an enterprise tax credit and incentives platform

App-based drivers from Uber and Lyft protest in a caravan in front of City Hall in Los Angeles on … [+] October 22, 2020 where elected leaders hold a conference urging voters to reject on the November 3 election, Proposition 22, that would classify app-based drivers as independent contractors and not employees or agents. (Photo

Got election angst? In the article below, a law professor answers questions about state recounts and … [+] ballot challenges in the 2020 presidential election. Getty Images As the 2020 presidential election moves into its final act, both Donald Trump and Joe Biden are unleashing teams of lawyers to engage in litigation over the voting

Economic Security Planning, Inc. Today’s column addresses questions about taking spousal benefits before later qualifying for retirement benefits, available recourses in case Social Security mishandled a claim and deciding between taking retirement or survivor’s benefits first. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,

What will your state’s tax hike pay for? Education, bridges, public transportation? getty Arizona has flipped from a red state to a blue state, and along with that momentous change, its voters on election day have approved a massive state income tax hike on high earners. Put one way, it’s a 3.5% state income tax

getty The Internal Revenue Service (IRS), state tax agencies and the tax industry are warning taxpayers about a new scam – by text – to trick people into disclosing bank account information in order to receive an Economic Impact Payment, or stimulus check. As part of the scam, thieves are texting messages to taxpayer. The

Most people think primarily about income tax, not estate tax. That makes perfect sense, since very few people end up paying estate tax, or even having to worry about it at all. With a $23 million allowance per married couple going free of gift or estate tax, only those over that number face taxes. Yet

(COMBO) This combination of pictures created on October 22, 2020 shows US President Donald Trump (L) … [+] and Democratic Presidential candidate and former US Vice President Joe Biden during the final presidential debate at Belmont University in Nashville, Tennessee, on October 22, 2020. (Photos by Brendan Smialowski and JIM WATSON / AFP) (Photo by

Close-up view on conceptual keyboard – Tax (blue key) getty Five years ago, the OECD released its final report on the base erosion and profit-shifting project.  Tax Notes Talk host David D. Stewart chats with Deloitte’s Bob Stack, who represented the U.S. government at the OECD’s BEPS talks, about his thoughts on the project’s outcome and

Democrats claim the Trump tax cut bill of 2017 was a giveaway to the “rich,” but this episode of What’s Ahead shows that it had the opposite impact on high-income earners. In 2018 the top 1% ended up paying $16 billion more in federal individual income taxes than they did in 2017, while 99% paid

getty The Internal Revenue Service (IRS) has announced some changes to its collections processes to assist taxpayers who have been impacted by COVID-19. Specifically, the IRS says it is expanding taxpayer options for making payments and alternatives to resolve balances owed. “The IRS understands that many taxpayers face challenges, and we’re working hard to help

Much of the commentary on the VAT and Customs Duty implications of Brexit relates to the movement of goods between the UK and European Union (EU) and vice versa. It is worth noting that there are also potential VAT changes to consider for businesses that provide services rather than goods.  Brexit concept Getty Images/iStockphoto Where

Four money moves you should prioritize before the end of 2020. getty The end of the year is a busy time for most people. Unfortunately, it is usually also the last opportunity to make financial moves that will count towards the current year. If you’ve been slow to tackle your financial to-do list this year,

California’s 13.3% tax rate is enough to make almost anyone sick, including rock stars. Kiss rocker Gene Simmons announced he wanted to leave California for tax-free Washington state, putting his $22 million Beverly Hills California estate on the market. The listing of his palatial one-of-a-kind 16,000 square-foot mansion says it has a 40-foot foyer, parking for

Economic Security Planning, Inc. Today’s column addresses questions about whether benefits lost to the earnings test can ever be recovered, how soon spousal benefits are available after marriage, the effect of birth date on spousal benefits before retirement benefits and being eligible for more than one benefit at a time. Larry Kotlikoff is a Professor

I spend a lot of time telling people to save for college, and to save as soon as possible. But there are situations where saving for college doesn’t make sense. Recently I received a call from a parent whose son was entering college. They were frantic, “When should I take money out of my 529

In a recent case, the 11th Circuit discussed conservation easements and their statutory requirements. The full case addressed three issues: (1) the granted-in-perpetuity requirement, (2) the effect of an amendment clause (and the protected-in-perpetuity requirement), and (3) valuation methods. This post focuses on only the first issue—the operation of § 170(h)(2)(C)’s granted-in-perpetuity requirement. For some quick

Photo Illustration by Jakub Porzycki/NurPhoto via Getty Images NurPhoto via Getty Images As states and cities face massive budget shortfalls from the Coronavirus recession, taxing streaming services is getting more appealing. Earlier this year, a handful of cities took steps that would allow them to tax streaming services. Four cities in Indiana, including Indianapolis, as

What you need to know about beneficiary IRAs in 2020 getty The Secure Act has brought with it some new rules for those lucky enough to receive an inheritance in the form of a beneficiary IRA. These rules will change how long you have to move money out of your beneficiary IRA, which could dramatically