The Treasury Department so far isn’t agreeing with requests from congressional Democrats and the American Institute of CPAs to go further in eliminating tax penalties for taxpayers who didn’t withhold enough taxes last year after passage of the Tax Cuts and Jobs Act. Last month, the IRS announced that it would generally waive the tax
More than 140 countries worldwide – including all European countries – levy a Value-Added Tax (VAT) on purchases for consumption. As today’s tax map shows, although harmonized to some extent by the European Union (EU), Europe’s VAT rates vary moderately across countries. The VAT is a consumption tax assessed on the value added to goods
Activist investor Starboard Value said Thursday that it intends to use its stake in Bristol-Myers Squibb to oppose the drug-maker’s acquisition of Celgene. “Bristol-Myers is deeply undervalued and the recent announcement of the Company’s proposed acquisition of Celgene Corporation is poorly conceived and ill-advised,” Starboard CEO Jeffrey Smith wrote in a letter to Bristol-Myers shareholders.
If you’re getting close to celebrating your 65th birthday, it’s time to review how Medicare will fit into your life. Whether you’re still working or not, it’s best to make sure you understand the rules for signing up instead of making assumptions that could cost you down the road. “If you don’t enroll and don’t
Let’s face it: this frothy market has made it much tougher to uncover the big, cheap dividends you need to fill out your retirement portfolio. So today we’re going to fight back with my top 2 “off-the-record” strategies for honing in on 7.4%+ dividends that still have a lot of upside ahead. As I write,
Bezos allegations of blackmail against AMI, the parent company of the Enquirer are splashed across the news. As a veteran of 28 public boards and many more private companies I’ve seen my share of drama and this situation makes me wonder, what are these two boards doing about it? Had Jeff Bezos decided to keep
Michael Cohen unfurled a series of damaging accusations against his former boss Donald Trump in a day of testimony before Congress, including assertions that may pose additional legal peril for the president. Trump’s former lawyer and fixer offered potentially damaging specifics on at least three possible misdeeds, starting with his assertion that Trump inflated the
General Electric CEO Larry Culp has simplified the company’s report techniques and could be on the right path to fix the challenges in its power division, CNBC’s Jim Cramer said Wednesday. Culp, who became chief of GE in September, delivered his first annual letter to shareholders on Tuesday that Cramer said made a significant departure
Key Findings Forty-four states levy a corporate income tax. Rates range from 2.5 percent in North Carolina to 12 percent in Iowa. Six states—Alaska, Illinois, Iowa, Minnesota, New Jersey, and Pennsylvania—levy top marginal corporate income tax rates of 9 percent or higher. Eight states—Arizona, Colorado, Kentucky, Mississippi, North Carolina, North Dakota, South Carolina, and Utah—have
President Donald Trump’s financial statements are here — and they likely only tell part of the story on his wealth. Michael Cohen, the president’s former personal attorney, testified before the House Oversight Committee on Wednesday, and provided the committee with a number of documents, among which he said were copies of Trump’s financial statements for
GE stock is up more than 50% in the last 2 months. Copyright 2018 The Associated Press. All rights reserved. General Electric (GE) is up more than 50% since hitting a low of $7.03 in mid-December. Since this was not a very likely scenario, GE’s pensioners, many of whom have sizeable stockholdings, now have to
When you have stock compensation income, such as that from restricted stock or restricted stock units, tax returns can be complicated and tricky. Mistakes can lead to overpayment of taxes or unwanted attention from IRS auditors. Here are five mistakes to avoid on your federal tax return.Getty Tax returns get complex when you have various types
Using LinkedIn right; this year’s sales-tax holidays; alternative methods of apportionment; and other highlights from our favorite tax bloggers. Get appy Wolters Kluwer (http://news.cchgroup.com/): What are your biggest tax season challenges? How many of these tax season challenges are you facing? You’d think it’s the day-to-day potholes that get filled while the long-term craters go
General Electric stock has shot up over 50 percent in the last three months but that comeback “has gone way too far,” J.P. Morgan analyst Stephen Tusa told CNBC on Wednesday. Tusa was critical of the idea that GE’s stock should rise because of CEO Larry Culp for providing more insight to the company’s business.
Think you’re the only one who’s living on a financial knife’s edge? You are not alone. Recent data show most American workers live paycheck to paycheck. The statistics seem accurate to Joseph Driscoll, 39, a San Diego resident on active duty with the U.S. Coast Guard. His coworkers began panicking before the first paycheck was
Key Findings Personal saving and investment are necessary for long-term economic growth. Though the tax code provides several types of accounts that receive proper tax treatment for narrow saving purposes, their elaborate rules and restrictions complicate and discourage saving. The creation of universal savings accounts (USAs) would help people to save. USAs are all-purpose accounts
Photo credit: GettyGetty Young Americans owe $1 trillion of debt. Yes, with a “T.” Here’s what you need to know. $1 trillion of debt Recent data from the New York Fed Consumer Credit Panel and Equifax shows that Americans 18-29 years old owe $1.05 trillion in debt. The debt is comprised mostly of student loans,
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 the ability to file a restricted application, the availability of spousal benefits, school and disability benefits, whether there are potential problems with filing for spousal benefits and filing for
As tax automation provider Avalara ramps up for a new tax landscape, the company has added several key executives from the likes of PayPal and Goldman Sachs. Amit Mathradas, formerly general manager and head of North American Small Business at digital payments company PayPal, will serve as president and chief operating officer. Sanjay Parthasarathy will
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