Getty getty Over the last few years there have been a lot of changes in required minimum distributions (RMDs) for IRAs and other retirement plans. It’s important to know the current rules, so you don’t pay more income taxes than you need to or incur the highest penalty in the tax code. The penalty for
Taxes
Virtual currency is one of the few success stories of 2020. In March of 2020 Bitcoin was around $4,000 per Bitcoin, and by December 2020 it was up to just below $30,000 per Bitcoin. Investors and market watchers were not the only ones paying attention to the meteoric rise of virtual currency – the Department
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about how vacation pay can be counted regarding the earnings test, whether benefits for a disabled child are automatic or must be separately filed for and whether restricted application must be made in person or can be done online. Larry Kotlikoff is a Professor of
SAN FRANCISCO, CA – DECEMBER 01: The Salesforce Tower, the city’s highest building, on December 1, … [+] 2020 in San Francisco, California. Recent workforce changes are leading to speculation about the tower’s future. (Photo by Stephen Lam/Getty Images) Getty Images As we approach the grim metric of 500,000 deaths due to Covid-19, analysts are grappling with
WASHINGTON, DC – FEBRUARY 22: U.S. President Joe Biden speaks during an announcement related to … [+] small businesses at the South Court Auditorium of the Eisenhower Executive Office Building February 22, 2021 in Washington, DC. President Biden announced changes to the Paycheck Protection Program aimed at helping small and minority-owned business to qualify for
Old-fashion steel fountain pen with Form 1099-MICS words printed by typewriter getty Failing to send a 1099 can have some really nasty implications, so a lot of us are careful to not miss sending one out when required. Unfortunately, you can also get in trouble for sending one that should not have been sent if the
Turn down the lights. Turn up the Marvin Gaye. It’s baby-making time. Look, I get it. You’re not accustomed to reading an article about the intricacies of the tax law and walking away ready to throw down. But this time is different. This week, the House of Representatives will vote on the latest round of
Tax Season is here- what you need to know now about 2020 tax filing. Pictured President Biden. Getty Images COVID-19, stimulus payments, PPP Loans, unemployment benefits, and working remotely are a few of the factors that could make filing your 2020 taxes more interesting than in a typical year. Throw in sky-high values in the stock
Ask Larry Economic Security Planning, Inc. Today’s column addresses questions about how spousal benefits are calculated, a potential way to reverse a benefit reduction due to a temporary circumstance and paying Social Security taxes when self-employed. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,
The Small Business Administration (“SBA”) requires borrowers to complete SBA Form 3509 (for-profits) if together with their affiliates, the borrower(s) received Paycheck Protection Program (“PPP”) loans totaling $2 million or greater. The Form was created by the SBA in order to evaluate the borrowers good-faith certification surrounding the need for funding due to current economic uncertainty