Month: November 2018

Sunset for a tax scheme; $4,000 in phony refunds per return; aging badly; and other highlights of recent tax cases. Lafayette, N.J.: Preparer Thomas Kurczewski, 71, has pleaded guilty to information charging him with one count of failing to pay payroll taxes and one count of failing to make personal income tax returns, resulting in
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Just as several states have individual alternative minimum taxes (AMTs) that prevent households and pass-through businesses from claiming “too many” itemized deductions, some states levy corporate AMTs to prevent corporations from reducing their corporate income tax liability beyond a certain level. Most state corporate AMTs conform closely to the federal corporate AMT, which was established
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Credit: Getty Royalty FreeGetty There’s a new trend in investing: free. You can now trade stocks, own index funds and even get portfolio management with no fee. This is noteworthy, though investors may not realize it: Nearly a third of Americans who have an investment account think they don’t pay fees, according to NerdWallet research.
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Unlike the attention being drawn to San Francisco’s legal troubles with Proposition C, there is less fanfare surrounding Proposition D, which creates a new municipal gross receipts tax on cannabis. The measure will distort the cannabis market and raise costs for consumers in an especially opaque manner, as other gross receipts taxes often do. Proposition
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Bull market business concept with a group of organized arrows going up as investor confidence in stock trading predicting future price increases as a financial symbol of profits.iStock They should be. Alternative investments are continuing to gain popularity for investors seeking to diversify their retirement plan assets, and advisors are taking notice. Savvy investors and their
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According to reports from Politico and other news agencies there is no path to agreement among EU countries on the European Commission’s digital services tax (DST) proposal. For the DST to be adopted at the EU level, unanimity among the 28 EU member states is required. Throughout the debate on this proposal, though, several countries
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Federal Reserve Chairman Jerome Powell made a big mistake on interest rates last month but he finally corrected it Wednesday, CNBC’s Jim Cramer said. “I think he was being a little rash when he started. Yes, I used the word ‘rookie mistake,'” Cramer said on “Squawk Box” Thursday. Now the Fed chairman is doing “the
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Jamie Dimon, chairman and CEO of JPMorgan Chase, hailed the latest net earnings results of $2.34 per share. Here, he participates in an interview with David M. Rubenstein, president of the Economic Club of Washington, September 12, 2016 in Washington, DC.  (Photo by Molly Riley/AFP/Getty Images)Getty Financial stocks, including asset management and wealth advisory firms,
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Tax pictureFlickr Spain will be the next European country to introduce the Financial Transaction Tax (FTT), which is estimated to raise €8.45 billion ($9.57 billion) in 2019, according to the Government’s forecasts. The main objective of the FTT, which many refer to as the Tobin tax, is to introduce the tax system into the financial
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On a yearly basis the IRS adjusts more than 40 tax provisions for inflation. This is done to prevent what is called “bracket creep,” when people are pushed into higher income tax brackets or have reduced value from credits and deductions due to inflation, instead of any increase in real income. The IRS used to
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