Economic Security Planning, Inc. Today’s column addresses questions about what happens to benefits lost to the earnings test, filing for spousal benefits before full retirement age, available benefits with multiple exes and survivor benefits and the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
Taxes
NEW YORK, NEW YORK – JULY 17: People participate in a “March on Billionaires” event on July 17, 2020 … [+] in New York City. The march, which included a diverse group of activists, politicians and citizens, called on New York Governor Andrew Cuomo to pass a tax on billionaires and to fund workers excluded
Phil Murphy, governor of New Jersey, in 2019 when he again proposed a millionaire’s tax. The … [+] proposal ultimately succeeded this week. Photographer: Ron Antonelli/Bloomberg © 2019 Bloomberg Finance LP New Jersey has approved a millionaire’s tax, making it the fourth state (including Washington, D.C.) to do so. The agreement reached Thursday between Gov.
Years ago, when entertainer Jimmy Durante ended an appearance — whether live or on television — he would always sign off with his trademark catchphrase, “Good night, Mrs. Calabash, wherever you are.” It was a tribute to his first wife who died in 1943, which he would continue until his retirement nearly 30 years later.
getty Gold is a hot investment again. There are a lot of ways to invest in gold, and there are different tax consequences for each of these methods. Gold investors aren’t going to have equal after-tax returns, and part of the reason is the differing tax treatments of the ways to invest in gold. Consider
getty On September 23, 2018, police in York County, Pennsylvania, responded to reports of a shooting. When they arrived, they learned that a couple had been shot: Kimberly Forney was struck in her lower leg, and Matthew Forney had been hit twice in his upper chest. The culprit? The couple’s son-in-law, Robert Hedrick. Hedrick told
Watch Tax Notes International contributing editors Robert Goulder and Nana Ama Sarfo discuss the tax development of OECD, how it compares to that of the U.N., and the OECD’s past and present international tax reform efforts. Here are a few highlights . . . On the history of the League of Nations and the United Nations Nana
Representative Josh Gottheimer, a Democrat from New Jersey and co-chair of the House Problem Solvers … [+] Caucus, center, speaks during a news conference at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Sept. 15, 2020. A 50-member group of House Democrats and Republicans released a $1.52 trillion coronavirus stimulus plan today in a
KATWIJK, NETHERLANDS – JULY 7: In this photo illustration, visual representations of the digital … [+] Cryptocurrency, Bitcoin, gold chain necklace and silver coins are displayed atop Euro banknotes on July 7, 2020 in Katwijk, Netherlands. (Photo by Yuriko Nakao/Getty Images) Getty Images How much you paid for your cryptocurrency (the cost basis) has a
Getty Our schools stopped in-person instruction due to the pandemic in March. Within a few weeks, it was evident that we were going to have to make some changes. My daughter, who was studying for the German AP exam, was encouraged to practice at home. Since I could – at best – only order a
UNITED STATES – SEPTEMBER 15: Rep. Josh Gottheimer, D-N.J., joined by other members of the Problem … [+] Solvers Caucus, unveils the March to Common Ground, a COVID-19 relief package, at the House Triangle on Tuesday, Sept. 15, 2020. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) CQ-Roll Call, Inc via Getty Images This
Getty Did you file for an extension for your 2019 federal income tax return? If so, you have about a month remaining to file: the deadline to file your federal income tax return on extension is on or before the October 15, 2020. October 15 is the same deadline to file a federal income tax
The logo of Wolters Kluwer is seen on a screen next to an illustration of the stock market. It is … [+] part of the Amsterdam Exchange Index ( AEX 25 ). (Photo by Alexander Pohl/NurPhoto via Getty Images) NurPhoto via Getty Images We must begin with a qualification. A career spent doing tax work
Economic Security Planning, Inc. Today’s column addresses questions about potential effects of Social Security’s earnings test on spousal benefits, whether benefits lost to the earnings test are repaid and getting retirement benefits after survivor benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc,
getty Last year, the Internal Revenue Service introduced a draft version of a form that we haven’t seen since 1982: Form 1099-NEC, Nonemployee Compensation. Form 1099-NEC is intended to replace the nonemployee compensation part of a form many of us have come to know and love: Form 1099-MISC, Miscellaneous Income. Form 1099-MISC is sticking around
Topline President Trump’s controversial nominee for the Federal Reserve board, Judy Shelton, does not currently have enough votes in the U.S. Senate to win confirmation, according to comments from Senator John Thune (R-SD) that were first reported by Bloomberg. Republicans are still hoping to garner the votes needed to confirm Shelton’s nomination to the …
getty Not sure that things are changing in the tax and legal worlds? Here’s proof that it is: The Internal Revenue Service (IRS) has released a new marijuana business webpage to help business owners understand and meet their tax responsibilities. That’s right. Marijuana. Webpage. At IRS.gov. You can find it here. The IRS says that
Trading during Covid. Shutterstock So far, 2020 has been a highly volatile year in the financial markets due to significant uncertainty over Covid-19, a shock to the economy, and job losses. As the virus spread in the U.S, millions of displaced Americans turned to trading in financial markets as a means of making a new
HONG KONG, HONG KONG – SEPTEMBER 13: As A photo illustration of the digital Cryptocurrency, Litecoin … [+] (LTC), Monero (XMR), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and Dash are seen on September 13 2018 in Hong Kong, Hong Kong. (Photo Illustration by Yu Chun Christopher Wong/S3studio/Getty Images) Getty Images When the Internal Revenue Service
Economic Security Planning, Inc. Today’s column addresses questions about when you can file for retirement benefits after withdrawing your previous application and repaying all the funds you’ve received, eligibility for retirement and survivor’s benefits, spousal benefits at 62 and delaying the WEP by delaying a pension. Did Social Security Give Me Wrong Information About Withdrawing