Getty Just when you think it’s safe to go back to the beach, the viral predator returns for a second time. If you’re hoping for a quick rebound in the economy following our initial bout with coronavirus, be prepared for the possibility of more bad news, especially if you’re unlucky enough to work in the
Minneapolis Police Chief Medaria Arradondo addresses the media, Wednesday, June 10, 2020 in … [+] Minneapolis. The press conference follows the Memorial Day death of George Floyd in police custody after video shared online by a bystander showed former officer Derek Chauvin kneeling on Floyd’s neck during his arrest as he pleaded that he couldn’t
This article is a part of a series; click here to read Part 1. Another possible behavioral explanation is the feeling of being poorer after annuitization because of the resulting noticeably lower remaining account balance. This confuses total wealth with the spending power available from that wealth, but it can exert a powerful psychological influence
Getty Last week, I wrote about a newly-handed-down Supreme Court ruling that determined that, in a case where pension plan participants were not actually harmed, they could not sue their former employer for mismanaging their pension. As something of a tangent, I observed that participants in multiemployer plans would indeed be harmed, because there is
TOPLINE The stock market rebounded slightly on Friday, attempting to recoup some of its losses from a day earlier when fears over a resurgence of coronavirus cases led to the worst market drop since March. The market attempted to rebound from a massive sell-off on Thursday. Wang Ying/Xinhua News Agency/Getty Images KEY FACTS The Dow
Getty (Updated: June 12, 2020) On March 20, 2020, Treasury Secretary Mnuchin extended the tax filing and payment deadline for federal income tax to July 15, 2020. This relief includes estimated payments for the first and second quarters. You can find more information and guidance here. Some states have also extended filing and payment deadlines –
Bitcoin currency sign in digital cyberspace. Technology Network and Internet marketing, Money … [+] Exchange background concept Getty The tax code does not treat every stream of income the same way. If you are a cryptocurrency user, it is important to know about these different types of income because they can dramatically impact your post-tax
Closeup of weightlifter clapping hands before barbell workout at the gym Getty In the latest episode of Willis Weighs In, Benjamin Willis, contributing editor for Tax Notes Federal, and Jasper Smith, executive editor for commentary for Tax Notes, discuss Ben’s journey from the foster care system in Providence, Rhode Island to one of the tax industry’s must-watch thought
Economic Security Planning, Inc. Today’s column addresses questions about the earnings test and a spouse’s retirement benefit, spousal and retirement benefits, survivor benefit rates, maximizing spousal benefits and eligibility for divorced spousal benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets
Income on a K-1 flickr Editorial/Getty Images If you ever receive a K-1 from a partnership, send it to your accountant without looking at it and expect that your accountant is tracking things thoroughly, pay attention. If you do your own return, pay even closer attention. IRS efforts to tighten up partnership reporting may be
In a recent interview, attorney Steven J. Oshins and CPA Bob Keebler described the current estate planning environment as a “perfect storm”. The unified credit amount is $11.4 Million per person; the interest rates are at an unprecedented low of 0.6% (June 2020); the CARES Act waives the Required Minimum Distributions from Retirement Plans; market volatility
WASHINGTON, DC – APRIL 27: The Internal Revenue Service headquarters building appeared to be mostly … [+] empty April 27, 2020 in the Federal Triangle section of Washington, DC. The IRS called about 10,000 volunteer employees back to work Monday at 10 of its mission critical locations to work on taxpayer correspondence, handling tax documents,
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
Getty It began with a form letter that a large company sent to all its landlords. In that letter, the company said the coronavirus closures had decimated its revenues, so the company asked the landlord to defer all rent for April through July 2020, a total of four months, with repayment to start at some
Where is everybody? Hundreds are leaving the city per day. The trend will likely accelerate … [+] post-pandemic. High taxes, high housing costs, and overcrowded life makes for a nicer place to visit, but maybe not the ideal place to live. (Photo by Scott Heins/Getty Images) Getty Images Armando Codina is an unhappy New Yorker.
Stord As large swaths of the country began shutting down in mid-March, 23-year-old Sean Henry was finalizing his company’s first acquisition. Atlanta-based Stord, a cloud-based warehousing platform, had spent months finalizing plans to buy transportation provider Cove Logistics to build out its freight capabilities. “The market has changed since we originally made this decision and
Pacifica rises above Auckland, New Zealand Stab Studio Pacifica, the 584-foot tall residential tower rising in the heart of Auckland’s central business district, is slated to be completed in August of this year. Designed by Jaimin Atkins of Plus Architecture, the $300 million building is a striking new feature on the skyline of New Zealand’s
Housing is making a comeback post-COVID, thanks to surging demand and rising home prices. Getty If two months of rising mortgage applications weren’t indication enough, a new report is: the housing market is well on its way to recovering from the recent slump caused by the COVID-19 pandemic. According to the Market Recovery Index from