Month: January 2019

Photographer: Zach Gibson/Bloomberg© 2018 Bloomberg Finance LP Billions being skimmed from 401k retirement investors. A knowledgeable insider with compelling evidence ready to blow the whistle on a market leader. Ongoing systemic fraud that needs to be addressed immediately to protect the retirement security of millions of Americans. That’s the whistleblower case I’ve been working on
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Photographer: Victor J. Blue/Bloomberg© 2018 Bloomberg Finance LP Last Friday, Treasury finalized its regulations for the special 20-percent tax deduction for income from pass-through businesses, which was added by the 2017 Tax Cuts and Jobs Act (TCJA).  Treasury largely retained its guidance from last August, which significantly expanded the scope of eligible businesses.  But the
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Invented expenses; hidden returns, client gifts; skimmed immigrants; and other highlights of recent tax cases. New York: Art dealer Mary Boone potentially faces months in prison after pleading guilty last year to two counts of filing false returns, news outlets said. Prosecutors reportedly wanted Boone, who was scheduled to be sentenced in mid-January, to serve
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CNBC’s Jim Cramer implored investors on Thursday not to let day-to-day market volatility frighten them out of buying shares of great long-term performers like pharmaceutical giant Merck. “Merck is exactly the kind of company that investors circle the wagons around” during difficult macroeconomic events like long-lived government shutdowns, Cramer said on “Mad Money” amid a
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Today, Senator Elizabeth Warren (D-MA), Democratic presidential hopeful for 2020, announced plans for a wealth tax on high-net-worth individuals, a type of tax that is flawed economically and administratively. (There are also constitutional questions about assessing a wealth tax.) According to The Washington Post, Senator Warren’s proposal would assess a 2 percent annual wealth tax
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Personal financial satisfaction declined in the fourth quarter of 2018 as stock market gyrations and the prospect of a government shutdown weighed on U.S. consumers, according to a survey by the American Institute of CPAs. The AICPA’s quarterly Personal Financial Satisfaction index (PFSi) decreased for the first time in two years. The decline in the
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Federal Building IRSASSOCIATED PRESS It’s officially tax season, which means especially burdensome requirements for the adventurous who dared to invest in cryptocurrency last year. Not surprisingly, the IRS was among the first government agencies to provide official clarity on what exactly bitcoin is, and what they decided was the cryptocurrency and its brethren are property.
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The National Conference of CPA Practitioners is stepping up to help government employees dealing with the ongoing government shutdown. NCCPAP announced that it will give any furloughed or unpaid critical federal employee “a significantly discounted fee” to have their 2018 return prepared by a participating NCCPAP CPA. Federal employees must provide proof of employment. Those
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The current macroeconomic environment makes it difficult for CNBC’s Jim Cramer to recommend even a best-of-breed stock like Emerson Electric, he said Wednesday after a solid trading session in the stock market. An old-line manufacturer involved in the industrial automation, fluid handling, climate control and oil and gas spaces, Emerson has been at the center
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