In light of the tumultuous move in global stocks this week, I found it comforting, in that it-could-be-worse sense, to think about some excessively priced assets I’ve watched up close, as well as from a distance. One day within the dot.com bubble stands out very clearly. In December 1999, I sat in my mother-in-law’s room
Month: February 2020
While the Supreme Court decision in Wayfair has led many states to expand their sales and use tax base to include digital transactions, Maryland and Nebraska have introduced bills that would tax gross receipts from digital advertising — a move that could hit major tech companies hard if it’s taken up nationally. To an extent,
If you plan to travel abroad and are worried about medical coverage due to the coronavirus outbreak, there may not be a need to panic — or cancel your trip — just yet. Travel insurance policies that include emergency medical and evacuation coverage are still available, although the situation is fluid and could change as
A new taxpayer advocate. Treasury and the IRS named Erin Collins to serve as the National Taxpayer Advocate (NTA). Early in her career, she worked in the IRS chief counsel’s office. Later she was a Managing Director of KPMG’s Tax Controversy Services practice for the Western Area. In recent years, she worked to build mentorship programs
Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., February 28, 2020. Brendan McDermid | Reuters Amid the wreckage in global stock markets this week as panic over the spread of coronavirus wiped out $6 trillion in value, one corner of Wall Street has been making a mint.
The ranking Republican on the House Financial Services Committee proposed an amendment that would stop the panel from even thinking about taxing trades of stocks, bonds and derivatives. Representative Patrick McHenry, the ranking Republican on the panel, offered an amendment Thursday that would prevent the committee from considering financial transaction taxes, a proposed new tax
AscentXmedia When it comes to your 401(k), there’s one piece of advice that most financial experts agree on in market routs like this: Stay the course. That means fighting the natural temptation to log into your investment account and react to the market’s big swings. However, many investors are not taking that advice, according to
Apple staff and customers, wearing facemasks to protect against the COVID-19 coronavirus, are seen on the shop premises in Beijing on February 22, 2020. Nicolas Asfouri | AFP | Getty Images CNBC’s Jim Cramer said Friday he thinks Apple‘s stock can sink further and cautioned retail investors against going all in on the tech giant’s
Senator Bernie Sanders is proposing hiking taxes on executive retirement plans and using the extra revenue to aid struggling worker pension plans. Sanders, who is seeking the Democratic presidential nomination, plans to introduce a bill in the Senate Thursday that would stop company leaders and other highly paid executives from delaying taxes on stock options
Democratic presidential hopeful Vermont Senator Bernie Sanders participates in the tenth Democratic primary debate of the 2020 presidential campaign season co-hosted by CBS News and the Congressional Black Caucus Institute at the Gaillard Center in Charleston, South Carolina, on February 25, 2020. Jim Watson | AFP | Getty Images A bill introduced by Sen. Bernie
“Tax cheats beware. The machines are watching.” The Wall Street Journal reports (paywall) that the IRS is increasingly using artificial intelligence — machine learning and data analytics — to find tax evaders, respond to taxpayer questions, and become more efficient. Tax law remains full of gray areas that are difficult for AI to resolve without
Jack Dorsey, chief executive officer of Square Inc., second right, tours the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015. Yana Paskova | Bloomberg | Getty Images Square has been an outlier in this week’s payment stock wreckage. Shares of Mastercard, Visa, American Express and Paypal
Spook central; short of a grand; a low bar; and other highlights of recent tax cases. Mansfield, Texas: Innocent Wangwamba, 36, a Zambian national who operated a scheme to steal U.S. taxpayer IDs and fraudulently claim refunds, has been sentenced to 97 months in prison. Wangwamba, who pleaded guilty last year, admitted that from February
A woman with a facial mask passes the New York Stock Exchange (NYSE) on February 3, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images It’s no secret that coronavirus fears have infected the market and prompted concerns about a potential global economic downturn. Yet even amid scary headlines
When yields are depressed, seeking attractive dividend profiles across sectors becomes more important. Slower global growth and uncertainty surrounding international trade contributed to a shift in monetary policy in 2019, as the Fed reversed its tightening regime and investors bought up relatively safer Treasury bonds, pushing down yields. The length of the current bull market,
The filing season currently underway is the second season following the changes brought by the Tax Cuts and Jobs Act, and is naturally going somewhat smoother than last year at this point, according to Tom Wheelwright, a CPA and CEO of WealthAbility. “We know the forms have already changed from the 2018 filing season, beginning
Woman figuring out her finances. stefanamer If there’s any silver lining to the interest accumulating on your student debt, it’s that it can knock down your tax bill. The IRS allows certain borrowers to deduct up to $2,500 in student loan interest each year from their taxable income, and it can come from payments to
Adding a pinch of SALT before Super Tuesday. Democratic Presidential hopeful Pete Buttigieg would repeal the Tax Cuts and Jobs Act’s cap on the state and local tax (SALT) deduction for households making $400,000 or less. Among the states hardest hit by the cap is California, whose Democratic primary is coming up on Super Tuesday
Scott Minerd, founding managing partner at Guggenheim, at WEF in Davos, Switzerland on Jan. 22, 2019. Adam Galica | CNBC Guggenheim Partners Global CIO Scott Minerd said Wednesday that stocks could have further to fall as the markets came to grips with the economic impact from the coronavirus outbreak. Minerd, appearing on CNBC’s “Closing Bell,”
The Tax Cuts and Jobs Act of 2017 made the most far-reaching changes in the Tax Code in over 30 years, but it’s far from the last word on tax reform, with 97 percent of corporate tax executives polled by BDO USA predicting more changes will come after the November election. More than half (55
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