theonlinetaxguy

(AP Photo/Themba Hadebe,Pool) China’s paramount leader, President Xi, has vowed that stability is his top priority.  Interestingly, President Xi echoes Karl Schiller, who was the German Finance minister from 1966 until 1972. As Schiller put it, “Stability is not everything, but without stability, everything is nothing.” Well, China, a country that has experimented with different
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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 address some practical effects of the earnings test, benefit recalculation due to continued income, maxing out spousal benefits, how and when SSA taxes are paid and two potential ways widow(er)’s
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The Internal Revenue Service could do more to strengthen its tax enforcement efforts by further leveraging the Return Review Program to catch fraudulent tax returns, according to a new report. The report, from the Government Accountability Office, noted that the IRS’s Return Review Program, or RRP, detects and selects potentially fraudulent returns to stop invalid
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Tiffany shares will rise as the company benefits from strong demand in China, according to Credit Suisse. The firm reiterated its outperform rating for the retailer’s shares, predicting the company will report sales above expectations for its second quarter. China sales represent approximately 15 percent of Tiffany’s revenue, analyst Michael Binetti said Friday in a
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Shutterstock Proposed Regulations Just Issued to Limit States Circumventing the New Tax Laws The Tax Cut and Jobs Act of 2017 (“Act”) dramatically changed many aspects of the tax system. One of the most talked about changes is the imposition of severe limitations on deducting state and local taxes (“SALT”) which are now capped at
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When Aretha Franklin died last week after a long battle with pancreatic cancer, the 76-year-old Queen of Soul reportedly left behind no will or estate plan, potentially exposing her heirs to estate taxes. Franklin’s four surviving sons have filed a document listing themselves as interested parties for her estate, according to CNN, and her niece
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Yesterday, the Arkansas Tax Reform and Relief task force took a big step forward: It approved its recommendations on how to restructure the state’s tax code. The full report includes 22 specific recommendations, with the overwhelming majority coming from the various Tax Foundation resources provided to the task force over the last year. Among the
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Sentiment in Silicon Valley is that Facebook co-founder and CEO Mark Zuckerberg “doesn’t play by the rules,” according to CNBC’s Jim Cramer. The “Mad Money” host, whose charitable trust owns shares of Facebook, said he often visits California’s major tech hub and asks people “who do you not like?” Cramer said the answer is always
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