ERproductions Ltd | Getty Images Democratic presidential candidate Bernie Sanders is proposing to wipe out an estimated $81 billion in past-due medical debt. Up to 80 million Americans could be impacted. “People definitely need to have their debt either forgiven or negotiated lower, so they can afford it without a hardship,” said Craig Antico, the
internet banking network and cryptocurrency concept. Man hand using credit card for trade cryptocurrency. Getty Days after the Internal Revenue Service (IRS) released two new pieces of guidance for taxpayers who engage in transactions involving virtual currency, the IRS announced another compliance measure: a checkbox on form 1040. The checkbox, which appears on the early
Economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley have a new book that has generated an enormous amount of attention. One key conclusion: The richest 400 families in the US paid an average effective tax rate of 23 percent in 2018, while the bottom half of US households paid 24.2
President Donald Trump speaks after announcing and initial deal with China while meeting the special Envoy and Vice Premier of the People’s Republic of China Liu He at the Oval Office of the White House in Washington, DC on October 11, 2019. Nicholas Kamm | AFP | Getty Images After a partial trade deal, what’s
Ken Fisher Crystal Mercedes | CNBC After a rough week, billionaire money manger Ken Fisher is apologizing. Fisher, who is best known to a broad audience for his distinctive TV ads, was accused in a viral tweet (well, as viral as a tweet in the financial advisor community can go) of making sexist comments while
Share to facebook Share to twitter Share to linkedin President Donald Trump shakes hands with Chinese Vice Premier Liu He. Getty Images Topline: Following news that the U.S. and China reached a partial trade agreement on Friday, the stock market sharply rebounded, putting major indexes back within reaching distance of record highs. Both major indexes
Chinese President Xi Jinping (R) and US President Donald Trump attend their bilateral meeting on the sidelines of the G20 Summit in Osaka on June 29, 2019. Brendan Smialowski | AFP | Getty Images President Donald Trump has the upper hand in the China trade war because tariffs are hurting the Chinese economy way more
Steve Shepard | Getty Images Most people consider getting in to college a numbers game. However, in the wake of last year’s college admissions scandal, which underscored how much pressure parents and students feel to be accepted into elite universities, admissions directors are quietly turning their attention to something besides test scores. Today, “almost every
Getty The Social Security Administration announced key numbers that affect workers and retirees today—a substantial increase in the wage base for workers and a modest increase in benefits for retirees. First the wage base news. The maximum amount of earnings subject to Social Security tax will rise 3.6% to $137,700 in 2020. That means a
Everybody out of the Pool; dying Embers; the House falls; and other highlights of recent tax cases. Middletown, Connecticut: Eugene Carlin, 59, has been sentenced to 18 months in prison, to be followed by three years of supervised release, for drug trafficking and tax offenses. In July 2018, police searched Carlin’s residence and seized approximately
CNBC’s Jim Cramer is warning against trading stocks on the roller coaster of U.S.-China headlines as the two countries restarted high-level talks aimed at ending their 15-month-old trade war on Thursday. Markets are “hostage to events that are not only totally out of our hands, but I think totally out of the president’s hands,” Cramer
Finding the right advisor to help with your financial needs and goals can be complicated. There are so many factors to assess. Many advisors will use a high asset under management as a selling point metric when marketing themselves to potential investors. However, AUM isn’t the whole story when a potential client is determining which
Next month, Colorado voters will decide whether to allow the state to permanently keep their Taxpayer’s Bill of Rights (TABOR) refunds. Proposition CC, the “Allow State to Retain Revenue for Transportation and Education Measure,” was referred to voters by the General Assembly with the passage of House Bill 19-1257 in April. Currently, the TABOR amendment
Share to facebook Share to twitter Share to linkedin A judge revealed that Deutsche Bank is not in possession of Trump’s tax returns. (AP Photo/Richard Drew) ASSOCIATED PRESS Topline: Deutsche Bank said it doesn’t have President Donald Trump’s tax returns in a court filing released Thursday in what is a blow to House Democrats’ efforts
Among the unfinished business awaiting lawmakers when they return from their two-week recess are technical corrections to the 2017 tax law. Last month, the Internal Revenue Service and Treasury Department issued final regulations for the new law’s expensing provision, noting that the error known as the “Retail Glitch” must be fixed by legislative change, not
Accounting software giant Intuit has introduced new cloud-hosting capabilities for Lacerte and ProSeries products, in partnership with Right Networks, which has provided cloud hosting for Intuit products for almost two decades. The new offerings, named Hosting for Intuit ProSeries and Hosting for Intuit Lacerte, will allow users of each suite to eliminate on-site servers if
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters Lock-up periods are expiring for this year’s IPO class, which analysts say could introduce a new layer of pressure for young companies. Founders, employees and some early private investors who bought in before a company goes public are usually restricted
There’s more than just candy and seasonal goodies you might want to avoid at store checkouts this holiday season. Watch out for potentially expensive credit card offers, as well. Retailers typically ramp up their efforts each year during busy shopping months to get you to apply for a card, which might come with some sort
Last week we released the International Tax Competitiveness Index 2019, a study that measures and compares the competitiveness and neutrality of all 36 OECD countries’ tax systems. In the coming weeks, we will illustrate how European OECD countries rank in each of the five components of the Index: corporate income taxes, individual taxes, consumption taxes,
US President Donald Trump claps during a campaign rally in Rio Rancho, New Mexico, on September 16, 2019. (Photo by Nicholas Kamm / AFP) (Photo credit should read NICHOLAS KAMM/AFP/Getty Images) AFP/Getty Images For the first time in American history, the 400 wealthiest people paid a lower tax rate than any other group, according to
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