theonlinetaxguy

Mary Roberts has been working five jobs since August to stay afloat after the coronavirus pandemic decimated the cruise industry, where she was a director and choreographer. Mary Roberts Mary Roberts is not immune to the hustle as an artist. But the coronavirus pandemic has presented a challenge like she’s never seen before. Roberts, 39,
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Jim Cramer Scott Mlyn | CNBC CNBC’s Jim Cramer said Tuesday that some of the stock gains in the market are “insane,” with investors recently buying certain names from Tesla to Royal Caribbean seemingly without regard for fundamentals or the state of the coronavirus pandemic and holding onto them. “Where are the profit takers” after
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Treasury Secretary Mnuchin shuts down five emergency Federal Reserve lending programs. Mnuchin said he’d shut down the loan programs Dec. 31, despite a rare public objection from Fed Chair Jerome Powell and strong criticism from Democrats. About $429 billion in emergency COVID-19 relief lending has gone unused, and the Fed agreed to return about $70 billion
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Getty Images If you receive a text, email or phone call purporting to be from the Social Security Administration, think twice before responding. The people on the other end are likely fraudsters. And they’re looking to catch individuals off guard and take advantage of their fears. The November Retirement Confidence Index from SimplyWise, a technology
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The IRS Office of the Chief Procurement Officer has partnered with Data and Analytic Solutions of Fairfax, Virginia, and with academic researchers to use data analysis to improve IRS procurement operations. The team will consist of procurement practitioners as well as university professors and students with procurement and experience in machine learning, a form of
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Thomas Barwick | DigitalVision | Getty Images Giving a few bucks to your favorite charity in time for the holidays? You can finally collect a tax break for it. The CARES Act, which was signed into law this spring, included a “partial above the line deduction” for charitable contributions. This allows people who take the
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Economic Security Planning, Inc. Today’s column addresses questions about when it’s possible to file for spousal benefits, who can still file restricted applications for spousal benefits only, divorced spousal benefits after early retirement benefits and eligibility for disability benefits close to full retirement age. Larry Kotlikoff is a Professor of Economics at Boston University and
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Employees working from home during the coronavirus pandemic claimed some outlandish expenses this year, including pricey exercise bikes, facelifts and private jets. Emburse, an expense management software company, released a compilation Wednesday of some of the craziest expenses it has seen claimed this year, some of which were actually approved. That included $1,895, which was
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The Internal Revenue Service and the Treasury Department have issued guidance to clear up the tax treatment of expenses when a loan from the Small Business Administration’s Paycheck Protection Program hasn’t been forgiven by the end of the year, while groups including the American Institute of CPAs are complaining about a new, lengthy questionnaire from
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Jin Lee | Bloomberg | Getty Images Out on Wall Street, stocks are taking a breather from this month’s rally. Despite encouraging updates on a potential coronavirus vaccine, disappointing unemployment data and a spike in coronavirus cases have spooked investors. Not helping investor sentiment, New York City Mayor Bill de Blasio announced that schools would
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6year end tax-saving moves that you need to make before New Years Eve. Getty Images Wow! 2020 has been a crazy year. Many people have seen their incomes plummet, while others have been more fortunate. 2020 has been a record-setting year for the incomes of some. Either way, yearend is a great time to do
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