Taxes

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Securities (CARES) Act, a $2.3 trillion relief package designed to help individuals and businesses weather the economic damage caused by the COVID-19 pandemic. BOSTON, MA – OCTOBER 1: SBA administrator Jovita Carranza, left, meets with Jamaica Mi Hungry … [+]

Economic Security Planning, Inc. Today’s column addresses questions about whether losing benefits to the earnings test will increase the family maximum at full retirement age, verifying past wages along with what wages are counted for Social Security and the family maximum’s potential effects on children’s benefits. Larry Kotlikoff is a Professor of Economics at Boston

State and local income tax written in a note. getty Now that economic nexus for use tax purposes is the law of the land, states have leaped at the opportunity to update their sales tax laws, many focusing on marketplace facilitators and marketplace providers. Of course, this does not mean remote sellers that do not

WASHINGTON, DC – SEPTEMBER 30: Sen. Chuck Grassley (R-IA), speaks during a hearing on Wednesday, … [+] September 30, 2020 on Capitol Hill in Washington, DC. The committee is exploring the FBI’s investigation of the 2016 Trump campaign and Russian election interference. (Photo by Stefani Reynolds-Pool/Getty Images) Getty Images Senators Grassley, Daines and Roberts have

             In the election season there seems to be little that we can find common agreement across the political divide. However, there is one issue that finds Americans united – support for whistleblowers and protecting whistleblowers.              A recent Marist poll conducted on behalf of the Whistleblower News Network shows overwhelming support for whistleblowers – and legislation to

Prince’s sudden death in 2016 triggered numerous court proceedings. First, Probate documents had to be filed in court because Prince died without a will. He did not have a spouse or children, but Prince had half-brothers and half-sisters. There were various claims against the estate, and some claims by the estate too, including a wrongful death case

LAX AIRPORT, CA – AUGUST 20: Passengers connect with drivers at the Rideshare Lot at LAX as … [+] Uber and Lyft drivers held a moving rally as part of a statewide day of action to demand that both ride-hailing companies follow California law and grant drivers basic employee rights and to denounce the corporations

ANAHEIM, CA – SEPTEMBER 30: An employee walks through the entrance to Disneyland Park and California … [+] Adventure Park, which have been closed since March 14 due to the coronavirus pandemic, Wednesday, Sept. 30, 2020 in Anaheim, CA. After suffering losses for months due to Gov. Newsoms mandatory coronavirus shut-down, Disney says it will

AFP via Getty Images These days it’s hard to know where to focus one’s mind — the President’s contracting COVID, the President’s taxes, the nomination of Judge Barrett to the Supreme Court, the national COVID death rate, the moribund economy, the vaccine salvation that may be going sideways, the possible salvation of rapid home tests,

November 21: Last day to claim CARES Act stimulus payment. getty The Internal Revenue Service today announced that it’s extending the deadline to claim an Economic Impact Payment by five weeks to help individuals who haven’t yet received a stimulus payment and don’t normally file a tax return. The new deadline is November 21, pushed

WASHINGTON, DC – SEPTEMBER 30: U.S. President Donald Trump speaks to reporters on his way to Marine … [+] One on the South Lawn of the White House on September 30, 2020 in Washington, DC. President Trump is traveling to Minnesota for a fundraising event and a campaign rally. (Photo by Drew Angerer/Getty Images) Getty

Economic Security Planning, Inc. Today’s column addresses questions about whether the Covid-19 pandemic’s affect on the economy will reduce future Social Security benefits, taking spousal benefits before retirement benefits at 70, how spousal benefits are calculated and filing options after two marriages. Larry Kotlikoff is a Professor of Economics at Boston University and the founder

WASHINGTON, Sept. 10, 2020 — U.S. House Speaker Nancy Pelosi speaks during a press conference on … [+] Capitol Hill in Washington, D.C., the United States, on Sept. 10, 2020. U.S. Senate on Thursday failed to advance a slimmed-down Republican COVID-19 relief proposal, as lawmakers remain deadlocked over the scope and size of the much

Photographer: Daniel Acker/Bloomberg © 2015 Bloomberg Finance LP Covid-19 and the social distancing it requires has pushed more of our purchasing online. In fact, since March an extra $107 billion has been spent online, according to Adobe Analytics. For small business owners forced to close their doors for months and now still seeing dramatic drops

CHINA – 2020/08/13: In this photo illustration the American newspaper The New York Times (NYT) logo … [+] is seen on an Android mobile device with United States of America flag in the background. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images There is a good chance that the

DULUTH, MN – SEPTEMBER 30: President Donald Trump speaks during a campaign rally at the Duluth … [+] International Airport on September 30, 2020 in Duluth, Minnesota. The rally is Trump’s first after last night’s Presidential Debate. (Photo by Stephen Maturen/Getty Images) Getty Images Following The New York Times blockbuster series on President Trump’s personal

3d illustration of two cranes building 100 dollars getty Our first glimpse of individual income tax returns affected by the Tax Cuts and Jobs Act indicates that the 2017 tax law seems to have benefited higher-income taxpayers the most and, as in prior years, the income tax is not progressive at the high end. Recently published data

A justice scale on a simple blue background. getty What shapes a person’s view of tax policy? Sophisticated arguments about the relative efficiency of complex proposals? Not so much. How about views of government, including the way politicians spend money after they finish collecting it? Getting closer. How about fairness, including notions of distributional equity?

getty The Irish Supreme Court has ruled that the bread used to make Subway sandwiches cannot be defined as bread. The ruling was the result of a tax case. Bookfinders Ltd, a Subway franchisee, claimed that it should be exempt from value-added tax (VAT) since many products it sells are considered “staple foods.” In the

Piggy Bank, Alarm Clock and Calculator getty Pandemic or not, the time has come for freelancers and the self-employed to be prioritized by the fintech industry. In Germany, freelancers spend an average of 25 days and €3000 ($3,510) a year attempting to organize their finances through disparate banking, accounting and tax advisory services. Due to