This episode of What’s Ahead points out that President Biden’s proposal for a national $15 minimum wage would kill millions of jobs, especially in beleaguered small businesses. Past experience shows that part-time workers and those without high school diplomas would be hurt the most. There is an infinitely better approach that wouldn’t destroy jobs and
Taxes
You should expect to receive the following IRS tax forms from cryptocurrency exchanges and similar platforms before January 31, 2021. The information reported on these forms summarize your 2020 activity and have a big impact on your cryptocurrency tax bill. Form 1099-K (Payment Card and Third Party Network Transactions) If you had more than 200
getty It’s finally here! The Internal Revenue Service (IRS) has rolled out a new online option that will help tax professionals submit certain authorization forms electronically. To date, the new option applies to two forms: Form 2848, Power of Attorney and Declaration of Representative, and Form 8821, Tax Information Authorization. These forms allow taxpayers to
I took three of my kids ice skating in Maggie Daley Park last month. It is hard to find fun things to do together during the pandemic, and I never had the stomach to brave the lines during “before times.” One of the many silver linings I’ve embraced during this otherwise incredibly difficult time is
Economic Security Planning, Inc. Today’s column addresses questions about when spousal benefits can be filed for, how deeming affect people born in 1954 and later, how foreign pensions can affect Social Security benefits and how the lower earning spouse can maximize their benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the
The Mega Millions jackpot has risen to a cool $1 billion, according to officials. Winning would be great, but taxes are big too. Lottery winnings are taxed, with the IRS taking taxes up to 37%. Depending on whether your state taxes lottery winnings, you may have to add state taxes too. We all file tax returns,
BETA This is a BETA experience. You may opt-out by clicking here More From Forbes Edit Story Robert MarchantContributor Opinions expressed by Forbes Contributors are their own. I specialise in advising my clients on their indirect tax obligations Trade between the UK and EU is proving to be far from frictionless Getty Images/iStockphoto Now that the
INGLEWOOD, CA – JANUARY 19: The Forum in Inglewood, CA is one of five mass-vaccination sites opened … [+] in Los Angeles county. (Al Seib / Los Angeles Times via Getty Images) Los Angeles Times via Getty Images Covid-19 continues to put serious downward pressure on state and city budgets and spending. The Biden Administration is
Economic Security Planning, Inc. Today’s column addresses questions about filing and suspending before full retirement age, how remarriage after 60 can affect the availability of different benefits and how the WEP and GPO are applied when a public pension is taken as a lump sum. Larry Kotlikoff is a Professor of Economics at Boston University
getty The three-martini lunch has been getting a lot of attention lately, thanks mostly to President Trump. For much of the last year, the president has been urging lawmakers to restore the tax deduction for business meals (and libations) to its former glory. And after months of spirited debate, he’s gotten his way, thanks to the recently enacted