Almost have of the banks in the U.S. do not have satisfactory supervisory ratings from the Federal … [+] Reserve. BLOOMBERG NEWS On Tuesday, right as most Americans were running around doing last minute preparations for Thanksgiving, the Board of Governors of the Federal Reserve System published the second annual ‘Supervision and Regulation Report.’ I
Taxes
A long string of losses in a horse related business may well attract IRS attention. Don’t despair. If you take the right steps you have a good chance of winning in Tax Court. Reilly’s Eighteenth Law of Tax Planning – Honest objective trumps realistic expectation. A quarter horse mare showing its muscles. Cd. Victoria, Tamaulipas,
PARIS, FRANCE – JUNE 25: In this photo illustration, a visual representation of the digital … [+] Cryptocurrency, Bitcoin is displayed on June 25, 2019 in Paris, France. Bitcoin surpassed the 11,000 dollar mark Monday, Facebook’s arrival on the cryptocurrency market with Libra has boosted global interest around the various currencies in circulation. Bitcoin has
When Richard Detrich and his wife, Nikki Steele, started contemplating where to retire, they went about it methodically. The couple had already agreed to move abroad. Next, they each drew up a list of the 15 most important factors to them and then compared notes. Turned out their lists were pretty similar. The Ventura, California,
Rovinj, Istria Peninsula, Croatia Cultura Creative (RF)/Alamy Stock Photo With 700,000 U.S. Social Security checks a month now going to folks living abroad, foreign retirement is no longer an odd or terribly unusual proposition. But as with many major life decisions, deciding to pick up and leave these shores requires considerable thought and planning.
A group of Black Friday online shopping purchases photographed in delivery boxes. (Photo by Neil … [+] Godwin/Future Publishing via Getty Images) Future Publishing via Getty Images Scott Peterson — South Dakota’s former sales tax director and the Streamlined Sales Tax Governing Board’s first chief — discusses post-Wayfair issues, the controversy in Kansas, and the gig
Share to facebook Share to twitter Share to linkedin The latest data points to a resilient U.S. economy. Getty Topline: Major stock market indexes hit fresh highs on Wednesday, as improved U.S. economic growth in the third quarter, solid consumer spending last month and renewed optimism on Wall Street over a trade deal with China
Home loan / reverse mortgage or transforming assets into cash concept : House model, US dollar notes … [+] on a simple balance scale, depicts a homeowner or a borrower turns properties / residence into cash Getty In a recent column, I pointed out that mortgages can be major financial and tax losers. In particular,
(Photo via Smith Collection/Gado/Getty Images). Getty Images Residential real estate seems to have regained health of late, and in more ways than one. On the macro side, activity, after months of stagnation and decline, has turned upward again. Alone, this change has lifted the specter of recession. Still more encouraging, lower-priced housing has begun to appreciate
A man uses his mobile phone as he walks past advertising for the new iPhones outside the Apple store … [+] in Hong Kong on October 10, 2019. (Photo by PHILIP FONG/AFP via Getty Images) AFP via Getty Images In the world of sin taxes, chemical taxes tend to fly under the radar. They aren’t
Everyone has to file tax returns annually, even Harvard Law School Professors. Most Americans don’t enjoy filing or paying, but they do it anyway, and they pay up. If they can’t pay, they get in line and start paying the IRS in installments. Some people are late, and some seem to fall off the grid,
Share to facebook Share to twitter Share to linkedin The deal might be a defensive play, but could also see shareholders from both companies benefit. Getty Images Topline: With Charles Schwab announcing it will acquire TD Ameritrade for $26 billion, most analysts will celebrate the massive scale of the merger, but the all-stock transaction suggests
ATLANTA, GEORGIA – NOVEMBER 20: Sen. Elizabeth Warren (D-MA) (L), former Vice President Joe Biden … [+] and Sen. Bernie Sanders (I-VT) (R) participate in the Democratic Presidential Debate at Tyler Perry Studios November 20, 2019 in Atlanta, Georgia. Ten Democratic presidential hopefuls were chosen from the larger field of candidates to participate in the
UNITED STATES – AUGUST 21: The Internal Revenue Service building is pictured in Washington on … [+] Wednesday August 21, 2019. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) CQ-Roll Call, Inc via Getty Images Hear that noise? It’s the collective sighs of tax professionals around the country upon learning that the Internal Revenue
Rido81 The U.S. economy has now been growing for over ten years, the longest period of economic expansion in our history, but nothing lasts forever. Lately clients have been asking me about how to prepare for the upcoming recession. They’re unsettled by the political environment, threats of climate change and growing tensions with other countries.
Getty You’ve heard about the wealth tax proposed by presidential hopeful Sen. Elizabeth Warren, D-Mass. Her wealth tax would target high-net-worth individuals and is intended to address income inequality. But do you know about the other version of a wealth tax that’s getting some buzz? In a recent article in Tax Notes Federal, Dan Palmon and Jay Soled,
One of the greatest confusions in discussions of inequality is that between income and wealth. This struck me recently when somebody with a very high W-2 (low seven figures) asked me what sort of things they could do to manage the income tax that, federal and state combined grabbed roughly half their income. Getty How
Getty It used to be that everyone got Social Security retirement benefits at age 65. Then Congress tinkered with the system, first in 1956, and again in 1983, so retirees could claim benefits at an earlier age or at a later age. Early claimers (as young as age 60) get smaller monthly payouts and late
Economic Security Planning, Inc. Today’s column addresses potential downsides of filing early to allow auxiliary benefits to be claimed on your record, public pensions and survivor’s benefits, eligibility for divorced spousal benefits, foreign pensions and suspicious calls claiming to be from Social Security. Larry Kotlikoff is a Professor of Economics at Boston University and the
Share to facebook Share to twitter Share to linkedin Getty In a year-end gift for the ultra-high net worth, the Internal Revenue Service today issued final rules confirming there’s no clawback for huge wealth transfers made under the Trump tax law. The new rules don’t include any big surprises; they follow proposed rules issued a