theonlinetaxguy

Taxes, relief and partisanship; more than a nickel; a new pair; and other highlights from our favorite tax bloggers. Big surprises Taxbuzz (https://www.taxbuzz.com/blog): Unemployment benefits, taxes and the shock therein. Eide Bailly (https://www.eidebailly.com/taxblog): Understatement of the Week: “The death of Justice Ginsberg is setting up a very contentious period in Washington.” This contention only stands
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An AWS Ground Station satellite antenna at one of the company’s data center in Boardman, Oregon. Amazon Microsoft will offer a new service called Azure Orbital that connects satellites directly to its cloud computing network, the company announced at its Ignite conference Tuesday. The service will begin in a “private preview” to a select group of
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This week, the Congressional Budget Office (CBO) released its extended baseline projections, an annual update of what federal deficits, debt, spending, and revenues would look like over the next 30 years if current laws remain unchanged. These latest projections take into account the effects of the coronavirus pandemic and resulting economic disruption on revenues and
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While tax, appraisal, and legal considerations are all important for making effective and compliant contributions of Bitcoin (and other cryptocurrencies), the practical question remains – how does a donor move virtual currency from their ownership to a charity they support? getty Many charities do not have the expertise on staff, which is understandable considering that
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House introduces its stopgap spending bill. McConnell rejects it. The House Democrats introduced a continuing resolution to keep the federal government funded through December 11. But the plan excluded $30 billion President Trump wants for farm aid, so the Senate majority leader rejected it out of hand. Two weeks ago, word was that Congress and
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The Internal Revenue Service released final regulations Monday to offer guidance on deductions for estates and non-grantor trusts, clarifying that certain deductions aren’t to be considered miscellaneous itemized deductions. The Tax Cuts and Jobs Acts of 2017 forbids individuals, estates and non-grantor trusts from claiming miscellaneous itemized deductions for any taxable year starting after Dec.
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Billionaire media mogul Barry Diller on Tuesday urged investors to maintain sizable cash positions following the stock market’s robust rally from coronavirus-induced lows in late March.  “Personally, and professionally, every nickel you can, keep it … wherever it’s banked,” the chairman of both Expedia and digital media group IAC said on CNBC’s “Squawk Box.”  Diller noted that IAC in August
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Food banks in the Orlando, Florida, area face continued demand as unemployment due to the Covid-19 pandemic persists. Paul Hennessy/NurPhoto via Getty Images States are starting to run out of funding for enhanced unemployment benefits, leaving millions of workers without additional aid as hopes for more stimulus dwindle. At least nine states — including Alabama, Arizona,
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Human crowd forming continent Africa on white background. Horizontal composition with copy space. … [+] Clipping path is included. Population and Social Media concept. getty The countdown to October — and the release of the OECD’s long-awaited international tax overhaul — is on. Even if there is political agreement on the OECD’s proposal, it will take some
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Nikola Motor Company Source: Nikola Motor Company In recent months, three story lines have captivated Wall Street: SPACs, electric vehicle companies and the rise of retail traders. The outsized success of the first two, and novice investors entering the market in record numbers, have led some investors to claim this is an indication of froth.
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Scott Heins | Getty Images News | Getty Images Mom-and-pop landlords are in a worse financial position relative to their higher-earning peers as unemployment remains elevated and Americans continue to struggle to pay rent, according to a new analysis. Roughly a third of individual landlords who own residential property are from low- to moderate-income households
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Stopgap spending bill will be revealed today, maybe. Congressional leaders and White House officials worked to finalize a continuing resolution to keep the federal government funded from October 1 into December. But they still were struggling over the expiration date of the stopgap measure, a Trump request for $30 billion more in farm aid, and a
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CNBC’s Jim Cramer, who has been warning people for weeks to lock-in some stock profits, advised investors to look for places to possibly buy in the carnage of Monday morning’s sharp market selloff. “We’re down on something that nobody really understands,” said Cramer, playing down the worries about another coronavirus lockdown in Europe. He said
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getty While the price of gold rose to new highs during the summer, you probably saw a number of ads recommending investing in gold through an IRA. You’re probably also aware that gold is a “collectible,” and that IRAs aren’t allowed to own collectibles. Both those thoughts are correct. Gold is a collectible, but there
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Chopsticks are used to carry the buds as card-carrying medical marijuana patients watch a weighing at Los Angeles’ first-ever cannabis farmer’s market at the West Coast Collective medical marijuana dispensary, on the fourth of July, or Independence Day, in Los Angeles, California on July 4, 2014 where organizer’s of the 3-day event plan to showcase
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