Taxes

If you have a taxable estate, consider yourself fortunate. I often tell clients, “paying estate taxes is a good problem to have.” It is better than the alternative – dying with few or no assets. But sometimes little thought is given to who will pay these estate taxes. An estate tax is a one-time tax

Woman Wrapping Present in Money Getty The deduction for charitable contributions is a centenarian that’s been through a lot since its 1917 inception. The coronavirus crisis could set the stage for the next major revision of section 170, and the most popular option seems to be expanding the deduction. It’s unsurprising that there’s now a call

TOPLINE The flood of new retail investors making speculative stock trades are not behind the market’s recent rally, according to new research from Barclays which found that many of Robinhood users’ top picks tended to underperform. Robinhood customers piling into a stock usually resulted in lower returns, Barclays found. Rafael Henrique/SOPA Images/LightRocket via Getty Images

The stock market is having its worst week since the 2008 financial crisis. Andrew Harnik/ASSOCIATED PRESS Topline: As stocks continue to plunge and investors anxiously await financial stimulus measures to mitigate the economic fallout from the coronavirus pandemic, President Trump insisted that markets will be “just fine,” despite Thursday’s massive sell-off. The stock market’s huge

On Tuesday, President Donald Trump met with Republican lawmakers on Capitol Hill, where he … [+] reportedly discussed a payroll tax holiday. He is flanked by Senate Majority Leader Mitch McConnell, Vice President Mike Pence and Senator Roy Blunt. Getty Images As the COVID-19 death toll rises in the United States and around the world,

Stock market down on coronavirus fears. Getty Worldwide, more than 4,000 deaths. More than 120,000 infected. Cratering stock prices. Plunging interest rates. Plummeting oil prices. Supply chains, stressed by tariffs, now broken. Necessities stripped from store shelves. Quarantines. Social distancing. Mall traffic tumbling. Restaurants struggling. Flights canceled. Conferences canceled. March Madness now sadness. Business and

Getty (Note: Updated March 13, 2020) Will tax season close on time? Increasingly, taxpayers and tax professionals believe that there may be an extension of the tax filing season due to concerns about COVID-19.  COVID-19 is the official name for the infectious disease caused by the most recently discovered coronavirus. According to the World Health Organization,

Shutterstock Shutterstock Updates: March 13 at 3 pm ET: Per Tax Talks, “President Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act in response to the coronavirus. This declaration allows the Treasury Department and the IRS to extend the deadline for certain taxpayers and small businesses to pay taxes until

Markets are rallying after their worst drop since 1987 yesterday. Bryan R. Smith/AFP via Getty Images Topline: The stock market rallied somewhat on Friday—a day after its worst drop since the 1987 Black Monday crash—on hopes that global policy makers will take quick action and provide financial stimulus to address the economic fallout from the

I will pay my taxes sentence written repeatedly on blackboard as a punishment. Getty Routine activity theory explains tax evasion by looking at it as the convergence of motivated taxpayers, attractive tax savings, and guardians that are incapable of stopping or deterring evasion. Greater tax burdens and heavy reliance on self-assessment facilitate an environment conducive

Getty The Internal Revenue Service (IRS) has announced the indictment of Michael Rahim Mohammad, a Dutch national. Mohammad, sometimes called “Mr. Dark,” has been accused of operating Dark Scandals, websites that featured violent rape videos and depictions of child pornography.  According to court pleadings, Mohammad was the administrator of the DarkScandals Sites, which he began operating in

Employee standing and packing the box with his belongings while leaving the company and expressing … [+] sadness Getty President Trump and some Members of Congress are promoting a payroll tax cut to respond to the growing coronavirus outbreak. But if they are looking to stimulate or steady the overall U.S. economy, they might explore

This year, geeks will have to celebrate Pi Day without a party. Getty Pi Day is one of my favorite holidays, where I have a chance to celebrate math, pies, and puns. All of which I love. This year it falls on a Saturday (3/14), making it a perfect opportunity to party with friends. But,

Social Network Backgrounds Getty The Gig economy has been expanding rapidly over the past decade and the number of users involved with platforms like Uber, Lyft & Airbnb has grown exponentially. The IRS recently launched the Gig Economy Tax Center on www.irs.gov. This is a brand new section of the IRS website dedicated to help

Share to facebook Share to twitter Share to linkedin Getty The Internal Revenue Service (IRS) has issued guidance for some taxpayers who took out federal or private student loans to finance attendance at a nonprofit or for-profit school. The guidance offers relief for students whose loans have been discharged by the Department of Education and

Share to facebook Share to twitter Share to linkedin The Phase One agreement marks a ceasefire in the long-running trade war. Saul Loeb/AFP via Getty Images Topline: President Donald Trump and Chinese Vice Premier Liu He signed the long-awaited Phase One trade deal in an elaborate ceremony at the White House on Wednesday, marking a

DES MOINES, IOWA – JANUARY 14: Sen. Bernie Sanders (I-VT) makes a point as former South Bend, … [+] Indiana Mayor Pete Buttigieg and Sen. Amy Klobuchar (D-MN) listen during the Democratic presidential primary debate at Drake University on January 14, 2020 in Des Moines, Iowa. Six candidates out of the field qualified for the

Share to facebook Share to twitter Share to linkedin The deal includes Chinese commitments to buy more U.S. goods in four industries. Costfoto/Barcroft Media via Getty Images Topline: With the Phase One trade deal signing scheduled for tomorrow, new details have emerged about China’s pledge to significantly ramp up purchases of U.S. exports including manufactured

Comfortable retirement: Still out of reach for most. (Photo by Andrew Lichtenstein/Corbis via Getty … [+] Images) Corbis via Getty Images Congress ended 2019 by producing a budget of sorts. That fact, in itself, constitutes a rare accomplishment for this country’s dissipated and ever-distracted representative bodies. Such documents, as always, offer much to praise or

Economic Security Planning, Inc. Today’s column addresses questions about limits a family could receive, whether working longer can increase benefit amounts, whether delaying till 70 is still worth it, whether filing at 62 might be better and filing for survivor benefits while still working. Larry Kotlikoff is a Professor of Economics at Boston University and