Credit: Getty Royalty Free Getty The name of the measure before Congress sounds like a good deal: the Setting Every Community Up For Retirement Enhancement Act of 2019, a.k.a., SECURE. But the ever-astute Rick Kahler, president of Kahler Financial Group in Rapid City, S. D., smells something rotten: Larry Light: What’s wrong with the retirement reform legislation?
Bloomberg recently reported that Sony sent Chicago a $1.2 million check, ending its legal challenge to the city’s so-called “Netflix tax.” That everyone called Sony’s payment a “Netflix tax” is problematic for a few reasons. One, as the Sony check proves, the tax goes well beyond Netflix. Two, in fact, Chicago’s tax applies to all
Dismal Data Book; another state to collect remote sales tax; new polish for old scams; and other highlights from our favorite tax bloggers. What is Uncle Sam’s cut? Turbotax (https://blog.turbotax.intuit.com/): In honor of National Children’s Day just passed, a look ahead at what having a child means for taxes. TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): A look at
An interview and Q&A with billionaire investor and founder of Duquesne Capital, Stanley Druckenmiller. In this interview, Stanley discusses the Macroeconomic factors he is monitoring and the impact of changes in interest rates. Stanley also talks about the US trade war with China and how to structure your portfolio. 📚 Books on Stanley Druckenmiller’s investing
Mary Meeker presents her annual Internet Trends Report at Code 2018. Asa Mathat | Vox Media The most highly anticipated report of the year for tech investors has arrived. Mary Meeker, a widely followed technology backer and general partner at the venture firm Bond Capital, published her 333-slide “Future of the Internet” report Tuesday ahead
Kelvin Murray | Getty Images Older workers could soon find it easier to prove they’ve run into age discrimination on the job. The House Education and Labor Committee voted on Tuesday to approve the Protecting Older Workers Against Discrimination Act (POWADA), introduced by Sens. Chuck Grassley, a Republican from Iowa; and Bob Casey, a Democrat
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Last October, period equity supporters celebrated Nevada’s vote against the sales tax imposed on feminine hygiene products. Nevada became the 15th state to eliminate the tax and fueled the national debate around what constitutes a necessity product and who gets to define it. However, as legislative sessions now come to a close for the summer,
If you receive a letter this year from the IRS, don’t be alarmed. After every tax season, the agency sends out a variety of notices to taxpayers. Not every letter means there’s an impending audit coming your way. Many of the notices are routine and can easily be resolved. Here’s what to do if one
Minnesota went two legislative sessions without updating its tax conformity statute to reflect the changes made under the Tax Cuts and Jobs Act of 2017 (TCJA), so when a conformity bill passed during special session, the primary emotion was arguably one of relief that the job was done. There’s also a sense that it could
In a case whose outcome was cited by a number of companies as a potential risk on their financial reports, the Ninth Circuit reversed the Tax Court and decided in favor of the Internal Revenue Service. The case involved how expenses are allocated between corporate domestic and overseas operations for a chip technology company that
A package of Beyond Meat beef crumbles is displayed for a photograph in Tiskilwa, Illinois, April 23, 2019. Daniel Acker | Bloomberg | Getty Images Here are the biggest calls on Wall Street on Tuesday: J.P. Morgan downgraded Beyond Meat to ‘neutral’ from ‘overweight’ J.P. Morgan said Beyond Meat’s above-the-Street estimates now appear to be
ADragan | iStock | Getty Images Many people are in the dark about what makes their credit scores rise and fall. That’s the takeaway from a new survey by the Consumer Federation of America and VantageScore Solutions, which found that consumer knowledge about credit scores is at the lowest level in the past eight years.
One of the most common questions I get from investors is how crypto investments like bitcoin are taxed. There seems to be a great deal of confusion, perhaps because of the different names people use for this new asset class. If bitcoin is a cryptocurrency … is it taxed like currency? If bitcoin is “digital
Trump backs off Mexico tariff threat—for now—in return for few concessions. The New York Times reports that the deal averting 5 percent tariffs on Mexican goods does little more than restate border control promises that Mexico made months ago. While the agreement appears to include no benchmarks for reductions in crossings at the US-Mexico border,
The Internal Revenue Service may be short-staffed and have seen its budget cut, but Commissioner Charles Rettig believes he can both improve taxpayer and tax practitioner service, and up the agency’s enforcement game. “I’m an enforcement guy, I’m a taxpayer service guy — I hope to touch every aspect of the tax service,” he told
In this May 2, 2019, file photo Beyond Meat CEO Ethan Brown, center, watches as his company’s stock begins to trade following its IPO at Nasdaq in New York. Mark Lennihan | AP Short-sellers lost $398 million betting against Beyond Meat through Friday, according to research S3 Partners. And those losses got bigger on Monday as the
You’ve probably heard before that baby boomers are to blame for Social Security’s money woes. Yet new research from the Center for Retirement Research at Boston College suggests otherwise. Tetra Images | Getty Images The thinking typically goes that boomers, who were born between 1944 and 1964, have put undue pressure on the system because
Share to facebook Share to twitter Share to linkedin Japanese Finance Minister Taro Aso (front 2nd L) is welcomed by IMF managing Director Christine Lagarde (top 3rd L), US Treasury Secretary Steven Mnuchin (front R), and other delegation members while arriving at a family photo session of the G20 finance ministers and central bank governors
The American Institute of CPAs submitted more than 140 recommendations to the Internal Revenue Service regarding its 2019-20 Guidance Priority List, identifying and prioritizing guidance projects the AICPA believes the U.S. Department of the Treasury and the IRS should address. The AICPA believes these projects should be addressed through various means, including regulations, revenue rulings,