Getty The United States may be taking a hard line on cryptocurrency, but not all countries are seeking to collect from the virtual currency boom. The Portuguese Tax & Customs Authority (PTA) has announced that buying or selling cryptocurrency in Portugal is tax-free. The announcement came at the same time that the Internal Revenue Service (IRS)
Taxes
New York, United States of America: Facade of the New York Stock Exchange building on Wall Street photo credit: Getty Getty The stock market these days is insane–and taking investors on a financial roller coaster ride. It’s been down 900 points one day, up 250 another day, repeat, repeat, repeat! If you’ve logged into your
California Gov. Gavin Newsom signed a sweeping new law that could force gig companies like Uber and Lyft to reclassify their workers as employees. Yet even before he signed the bill into law, it was already clear that lawsuits will abound. On September 11, 2019, Uber’s top lawyer announced that new law or not, Uber will not treat its
Start your marriage off on the right financial footing. WINDSOR, UNITED KINGDOM – MAY 18: Thomas Kingston and Lady Gabriella Windsor kiss as they leave St George’s Chapel after their wedding on May 18, 2019 in Windsor, England. (Photo by Pool/Max Getty Images Whether you are just getting married or have been married for years,
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column addresses denial of a restricted application for spousal benefits only, whether benefits for an ex impact a decision to remarry, the possibility of voluntarily ending disability, reinstating retirement benefits at
Getty Nobody likes getting a tax bill in the mail. It’s especially concerning when your tax bill is a bit higher than you anticipated. But what happens when it’s hundreds of millions of dollars more than you were expecting? Just ask Donna Smith from Aurora, Colorado. Smith, a part-time worker at a local thrift store,
Calvin Johnson’s recent paper A Wealth Tax is Constitutional, 38 ABA Tax Times No. 4 is timely as my senator, Elizabeth Warren’s proposal for a wealth tax of 2% on fortunes over $50 million and 3% on fortunes over $1 billion is attracting a lot of attention. I don’t know what the source of those percentages is although
Dear Social Security Commissioner Saul, I write to relay two Social Security horror stories with the hope that you can help these people and take steps to prevent similar cases. The first involves Christopher Carriero, who lives in Georgia (302 Victoria’s Circle St. Mary’s, Ga. 31558). He’s receiving Social Security disability benefits. He has three
Share to facebook Share to twitter Share to linkedin SOPA Images/LightRocket via Getty Images Topline: Apple and the Irish government will this week appeal an European Commission ruling that the Cupertino-based tech giant saved $14.3 billion in taxes by striking a favorable deal with the Irish government. On Tuesday, the European Union’s General Court will
The IRS has announced a global settlement of cases involving abusive 831(b) captive insurance schemes, which announcement (IR-2019-157) is hyperlinked here and at the bottom of this article and is well worth reading in full, down to the last period in the Appendix. According to the announcement, “The settlement requires substantial concession of the income
Retired couple taking a happy selfie in tropical sea excursion with life vests and snorkel masks – Boat trip snorkeling in exotic scenarios on active elderly and senior travel concept around world. They are not worried about what they do or don’t Getty You’ve worked hard for decades, and now you want to enjoy your
Share to facebook Share to twitter Share to linkedin Photocredit: © 2019 Bloomberg Finance LP © 2019 Bloomberg Finance LP Here is a summary of the bearish influences on the metal price : Sentiment is too bullish. The weekly graph shows a hook sell signal, a sign of coming weakness. The monthly cycle topped on
The vast gig economy may be about to change, and not just in California. California is often a leader in laws regulating employment, often followed quickly by other states, so the changes could spread. The California Senate passed Assembly Bill 5 that could require Uber, Lyft and many gig companies to treat workers as employees. A
Share to facebook Share to twitter Share to linkedin U.S. President Donald Trump speaks at a roundtable on the economy and tax reform on April 15, 2019 in Burnsville, Minnesota. At the special Tax Day roundtable Trump gave a defense of his 2017 tax cuts.(Photo by Adam Bettcher/Getty Images) Getty Images Topline: Facing backlash, President
Big pharma companies including Purdue and others are settling up with governments and private parties over the devastation they have allegedly caused or enabled with opioids. The settlements are notable in size, hundreds of millions of dollars, and some have strange mechanics. But they seem to have one thing in common: taxes. It seems likely
There comes a time in the life of all successful business owners when it’s necessary to start considering ways to delegate duties. Before that can be accomplished, however, it’s necessary to take an inventory of all those duties and prioritize them. Once you see which duties have the least impact on revenue generation and profit
Google has agreed to pay more than $1 billion in fines and taxes to the French government. (Photo by Lyu Liang/VCG via Getty Images) VCG via Getty Images Big tech’s days are numbered. Yesterday, Google agreed to pay over $1 billion in fines and taxes to French authorities, settling a dispute over a financial fraud
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column responds to questions about whether 2019 is really the deadline to file a restricted application, whether an annuity will be subject to the WEP, retroactive restricted applications for spousal benefits
Getty The U.S. Bureau of Labor Statistics reported today that the consumer price index (CPI) has increased by .1% for August, after rising .3% in July. Here’s what that means for taxpayers in 2020, together with a first look at predicted rates for the next year as calculated by Bloomberg Tax & Accounting. The CPI measures the
. Senator Elizabeth Warren (Photo by Nic Antaya for The Boston Globe via Getty Images) Getty Senator Elizabeth Warren released a Social Security expansion plan on the morning of September 12, the day of the next Democratic presidential primary debate. David Leonhardt of the New York Times was among the first to report about it.