Seashells as a retirement vehicle?(c) Can Stock Photo / Sandralise I had to smile when this question was posed because seashells have long been a passion of mine, and I still receive great pleasure from the cabinet where I display the shells I gathered over the years. Note that I used the word “gathered” rather
Charles P. and Jane E. Adkins are getting a raw deal from the Court of Claims. That’s how I see it anyway. In her recent decision, Judge Margaret Sweeney agrees that they are the victims of theft and entitled to a theft loss deduction of over $2.5 million. She further rules that they are not
The Internal Revenue Service has revised its agreement with the Free File Alliance to expand taxpayer options for free online software offerings for next filing season and avoid steering consumers to paid products. The new agreement that was announced Friday updates a number of areas in an effort to make the Free File program more
Hedge fund billionaire Paul Tudor Jones knows that the stock market is facing a reckoning as the Federal Reserve continues its cycle of raising interest rates to combat inflation. “Obviously, what typically starts bear markets is interest rates get so high they click it,” Jones told CNBC on Friday in an interview with Jim Cramer.
Want to join the ranks of the nation’s wealthiest people? It may help to know where they started out. More billionaires on this year’s Forbes 400 ranking graduated from the University of Pennsylvania than any other college, followed by Yale and Stanford. And while many majored in economics and finance, as you might expect, politics,
Credit: Getty Royalty-Free Or, at least, what the benefits consulting companies that are probably advising your employer think, anyway. Not long ago, the employee benefits consulting company Aon presented its triennial retirement-adequacy study, “The Real Deal,” in which it uses its data on employee 401(k) accounts to estimate to what degree employees at the sort
Getty Free Images The tax benefits of owning real estate in an IRA plan certainly seem appealing at first glance. Under a self-directed IRA, you can control your investments, and the tax benefits of owning real estate in an IRA plan certainly seem appealing at first glance. In a Roth IRA, contributions are made with
This has been a watershed year in terms of changes in the Tax Code and tax law. The Tax Cuts and Jobs Act and the Wayfair decision mean that even if you have a very simple practice, chances are good that at least some of your clients are going to need guidance in one area
CNBC’s Jim Cramer is not backing down from his “own Apple, don’t trade it” maxim despite the stock’s drop after earnings, in which the iPhone maker said it would stop providing results for its individual products. “I am sure there are people who will just say, ‘You know what? I have to panic and sell
Retirement can reduce or eliminate a number of line items in your budget. But many retirees are surprised to discover that their tax bill may not be one of them. Almost half (46 percent) of recent retirees wish they had planned better for handling taxes in retirement, according to a new survey from Nationwide Retirement
If you’re decades away from retirement, you may not think it’s necessary to start saving yet as your money can be better spent elsewhere. As a rule of thumb, many experts agree that you will need about 70% of what you make at the peak of your career to maintain that standard of living in
ShutterstockShutterstock While the 2017 Tax Cuts and Jobs Act did not change trader tax status, Section 475 MTM, wash-sale loss rules on securities, and more, there is still plenty to consider. To Get The Most Out Of Tax Reform, Traders Need To Act Fast covered critical moves to make before the calendar year expires. But that’s
Ex-IRS agent gets four years; Select sentence; ticket to jail; and other highlights of recent tax cases. Sacramento, Calif.: Alena Aleykina, 45, a CPA and a former special agent for IRS Criminal Investigation, has been sentenced to 51 months in prison for filing false returns, obstruction of justice and stealing government money. According to the
For the fifth year in a row, the Tax Foundation’s International Tax Competitiveness Index (ITCI) ranks France at 35th out of the 35 countries in the Organisation for Co-operation and Development (OECD) included in this year’s Index. This worst ranking is due to a multitude of weaknesses in the French tax code including the highest
Casino stocks have been oversold and are now cheap, analyst David Katz told CNBC on Thursday. Shares are down well in excess of where the market is and are now taking back some of the losses they’ve given up over the past 30 days, he noted. “Everything looks like a screaming buy. As I look
If saving more is one of your resolutions for 2019, there’s good news: You can put away more money toward your retirement accounts next year. The IRS on Thursday released new contribution limits for employees who participate in 401(k) plans in 2019. The new number for those using pretax funds will be $19,000 in 2019,
(Getty : Royalty Free) Great news for all you retirement savers out there, the IRS says you will be able to contribute more to your retirement accounts in 2019. These changes to individual retirement accounts like 401(k) plans, Traditional IRAs and even ROTH IRA are part of the annual inflation adjustments made by the IRS.
Los Angeles Day of the Dead AP Photo/Richard Vogel Just in time for Halloween and Día de los Muertos (Day of the Dead), municipal finance watchdog, Truth in Accounting (TIA) published its financial analysis on the United States’ top three most populated cities–New York, Los Angeles, and Chicago. Unfortunately, the fiscal condition of these cities
President Trump and the Republican leader of the tax-writing House Ways and Means Committee issued a joint statement Wednesday calling for a 10 percent middle-class tax cut after Congress begins a new term next year, although it’s far from clear which party will control the House after the midterm elections. When Trump proposed the middle-class
Facebook’s third-quarter earnings report told CNBC’s Jim Cramer that the social media giant has a chance at a comeback after months of recurring issues around data privacy. “The important thing here is that a turn is even possible ,” the “Mad Money” host said after shares of Facebook closed nearly 4 percent higher on Wednesday.