Taxes

Getty In 2015 and again in 2018, I wrote about the Social Security Administration (SSA) defrauding, whether intentionally or not, large numbers of widows and widowers (henceforth widows) out of tens to hundreds of thousands of dollars. The fraud was brought to my attention by a Social Security whistle blower — John McAdams. John works

The days of traditional pensions are coming to an end as companies continue turning to 401(k)s for employee retirement plans. Some members of today’s workforce, mostly Generation X and older, were lucky to be enrolled in blue-chip pension plans before they were no longer offered. However, new pension access has plummeted to 4% of the

Getty Public and private organizations often implement labor-intensive policies and procedures to govern interactions between related parties. These compliance requirements frequently sacrifice administrability in favor of precision. Let’s say that the finance director of a U.S.-based multinational’s foreign distributor needs to lower the transfer prices on its intercompany inventory imports. The local currency has declined

Leaning foreclosure sign in front of a modern single family home on a cloudy cold day Getty $8.41. That was how much 83-year-old Uri Rafaeli, a retired engineer, in Michigan underpaid his property taxes by in 2014. That was all it took for him to lose his house. Rafaeli bought a 1,500-square-foot Southfield home in

Share to facebook Share to twitter Share to linkedin Trade news will make or break the market’s December rally. Scott Heins/Getty Images Topline: Wall Street is rallying on the back of solid economic data, with Friday’s blockbuster jobs report showing that the labor market is still a bright spot for the U.S. economy, which could

Share to facebook Share to twitter Share to linkedin With the market near records, many stocks have surged as well. Getty Topline: Wall Street cheered the release of November’s blockbuster jobs report on Friday, helping the market recover its trade-war-related losses from earlier in the week and putting a number of major stocks at new

“Pay me next year” requests are common with employers, suppliers, vendors, customers, and more. This time of year, many people ask for payment in January. You probably assume you can’t be taxed until you receive money. Actually, though, if you have a legal right to payment but decide not to receive it, the IRS can still tax you now, even

Share to facebook Share to twitter Share to linkedin It’s not the first time the senator has gone after big business. Elijah Nouvelage/Getty Images Topline: While Elizabeth Warren has made her presidential campaign all about going head-to-head with big business, the presidential hopeful is now working on a sweeping new anti-monopoly bill, first reported on

Share to facebook Share to twitter Share to linkedin Friday’s jobs report will deliver key insights into the U.S. economy. Lynne Sladky/ASSOCIATED PRESS Topline: With the U.S. Labor Department set to release its monthly jobs report on Friday, Wall Street will be watching the numbers closely to get a gauge of the economy’s momentum and

Want to pay less in taxes? Here are the eight moves you need to make before the end of 2019. Christmas is coming, which means it is time to give yourself the gift of tax savings. We share some … [+] valuable year-end tax planning moves. Getty 2018 was the first year people filed taxes

MIAMI, FL – APRIL 15: Hermando La Roza holds a sign indicating that there are zero day left to … [+] file taxes as he stands in front of a Liberty Tax office on April 15, 2019 in Miami, Florida . April 15 is the deadline in the United States for residents to file their

It is not just retailers that depend on the month of December to make their year. The peddlers of tax shelters, however dubious, also focus on year end business. Is a $500,000 charitable deduction for a $100,000 cash outlay on your Christmas shopping list? If so you might want to look into conservation easements. DYERSVILLE,

When President Donald Trump signed the Tax Cuts and Jobs Act into law, a central tenet of that most significant tax reform in recent memory was the lowering of the United States’ corporate tax rate from 35% to 21%. That put the U.S. corporate tax rate – previously among the highest in the world –

Share to facebook Share to twitter Share to linkedin In addition to Trump’s financial records, the committees are seeking information on his children … [+] Donald Jr., Eric and Ivanka. AP Photo/Evan Vucci Topline: A federal court said Tuesday it will not stop Deutsche Bank and Capital One from handing over ten years of President

Share to facebook Share to twitter Share to linkedin An anti-government protester stands guard at a burning barricade in Santiago, Chile. Rodrigo Abd/ASSOCIATED PRESS Topline: Many of the mass protests happening around the world were sparked by anger over the economy—especially rising inequality and high costs of living—and then quickly evolved into larger, more potent

A golden egg in a line of white eggs. Getty My parents’ generation believed that “a rising tide lifts all boats,” a clever metaphor for the idea that everyone’s economic situation will improve when times are good. It’s the kind of statement baby boomers repeat, ad nauseam. And it’s the kind of quaint notion that

Share to facebook Share to twitter Share to linkedin The dispute over Hong Kong could derail trade talks. Johannes Eisele/AFP via Getty Images Topline: Days after President Trump signed into law a bill supporting pro-democracy protests in Hong Kong, China hit back with limits on the U.S. Navy and critical nonprofit organizations, with the escalating

LONDON, ENGLAND – SEPTEMBER 13: A plane comes into land at Heathrow Airport on September 13, 2019 in … [+] London, England. (Photo by Leon Neal/Getty Images) Getty Images Fasten your safety belts. Jeremy Cape of Squire Patton Boggs explains the U.K.’s Air Passenger Duty (APD) and one group’s proposal to impose a frequent flyer

The most common question I receive about college savings is, “What happens if my kid doesn’t go to college?” There are two reasons families ask this question: They are worried about locking money into college savings that will never be used or or that they’ll be penalized for non-qualified withdrawals. They want an excuse to

Economic Security Planning, Inc. Today’s column addresses questions about working after beginning benefits, accidentally filing earlier than intended, spousal benefits on a disabled worker’s record, restating suspended benefits and the possibility of filing retroactive SSA taxes. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,