Getty Images It has not been easy for most American families during the Covid-19 pandemic. From lost jobs and reduced incomes to work and school from home, Americans are struggling to keep afloat financially. In fact, in a 2021 National Endowment for Financial Education (NEFE) survey, nearly 7 out of 10 people suffered a financial setback in
Taxes
United States Jigsaw Puzzle Pieces getty Morgan Scarboro of MultiState Associates discusses the tax topics state legislatures are likely to tackle this year. This post has been edited for length and clarity. Paul Jones: Hi, Morgan. Thanks for being here. Morgan Scarboro: Thanks so much for having me. Paul Jones: First, I wanted to talk about the elephant
regulations printed on rubber stamp getty Presidential vetoes are fairly common, though they seldom carry tax implications. There have been 40 presidential vetoes since the turn of the century. That includes 39 conventional vetoes plus a single pocket veto. If you’re keeping score, the tally is as follows: President Clinton vetoed seven bills during his last year in
Treasury Department records show that 2020 set a new record for the number of Americans who renounced their U.S. citizenship or gave up their long-term green cards. Common reasons for renouncing can be family, tax and legal complications for people who generally live outside the United States. There is an official list published quarterly, and the
be responsible and protect ecological environment, environmental protection symbol texture getty Last month gave us another building material reuse charitable deduction case. The Fourth Circuit sustained a district court decision that entirely denied any charitable deduction to Lawrence and Linda Mann for material from the tear-down of a Bethesda, Maryland house that went to Second Chance
Economic Security Planning, Inc. Today’s column addresses questions about whether filing at 70 increases spousal and survivor’s benefits payable to a spouse, when the combined family maximum applies and whether previous COLAs are included in delayed retirement benefit rates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of
IRS Forms 1099 are important, tipping off the IRS and your state how much you were paid for the year. But do you really want or need all those forms? IRS Forms 1099 remind you that you earned interest, received a consulting fee, or were paid some other kind of income. Each Form 1099 is matched to
getty Professor Zvi Bodie, my long-time friend and Boston University colleague, has long been an avid proponent of I-bonds, introduced by the US Treasury in 1998. Given today’s negative yields on TIPS (Treasury Inflation Protected Securities), Zvi’s argument for I-bonds is particularly compelling. Professor Zvi Bodie is my long-time friend and Boston University colleague. He’s also
Can you get into trouble for urging other investors to buy stock or options in a company? getty As just about everyone knows by now, investors communicating on the Reddit forum WallStreetBets drove up the stock price of GameStop while openly discussing both their tactics and their reasoning. Some of them purchased GameStop shares as
WASHINGTON, DC – FEBRUARY 01: U.S. Sen. Susan Collins (R-ME) speaks as (L-R) Sen. Bill Cassidy … [+] (R-LA), Rep. Jerry Moran (R-KS), Rep. Todd Young (R-IN), Sen. Lisa Murkwoski (R-AK), Sen. Shelley Moore Capito (R-WV), Sen. Thom Tillis (R-NC), Sen. Mitt Romney (R-UT) and Sen. Rob Portman (R-OH) talk to reporters after meeting with