With the Consolidated Appropriations Act, 2021 (the Act) finally signed into law, we can start to take a deep dive into the more impactful changes found within the 5,500-page piece of spending and stimulus legislation. We may have jumped the gun a bit in publishing Part 1 of this two-part series on the expanded Employee
Taxes
For many organizations trading in goods, the run-up to 31 December 2020 involved hasty preparations for the end of the Brexit transitional period and the start, from 1 January 2021, of the UK’s new international trading relationships. This article highlights some areas that can be focused on in 2021 to improve import taxes positions. Taking
ILLUSTRATION BY FORBES; PHOTOS, FROM LEFT: JUN SATO/GETTY IMAGES; MARK MAKELA/GETTY IMAGES; CHRISTIAN K. LEE/THE WASHINGTON POST/GETTY IMAGES As a year unlike any other draws to a close, Forbes takes a look at the biggest scandals billionaires found themselves facing, from tax evasion to alleged financial fraud to a billionaire spat between neighbors featuring the
Economic Security Planning, Inc. Today’s column addresses questions about Social Security spousal benefits based on the record of a worker who filed early, retirement benefits for a worker who dies late on the last day of the month, the Windfall Elimination Provision and withdrawing an application. Larry Kotlikoff is a Professor of Economics at Boston
United States Tax Court building in Washington DC Getty Taking a recent Tax Court decision at face value Dr. Gurpreet Padda has found the secret of how to make a small fortune in the restaurant business. The key is to start with a moderate fortune from the practice of medicine. Lucien Gauthier of the Boston
UNITED STATES – DECEMBER 25: Metro DC Socialists hold a Christmas morning photo op for Santa to … [+] deliver coal to Congress while demanding a $2000 per month check on Friday, Dec. 25, 2020. (Photo By Bill Clark/CQ-Roll Call, Inc via Getty Images) CQ-Roll Call, Inc via Getty Images As President Trump golfs in
As the nation awaits the President’s signature on the Consolidated Appropriations Act, 2021 – a 5,500 page spending and COVID stimulus bill – tax nerds march ahead undeterred, knowing that should that signature arrive, the need to undertake significant tax planning will be upon them before the ink is dry. UNITED STATES – DECEMBER 25:
Three-dimensional synthetic works can be used in any design getty President-elect Joe Biden will have his hands full once he takes office in January. A lot of people are curious about whether he will invest political capital in trying to alter some of the income tax provisions introduced by the Tax Cuts and Jobs Act. Trying to
Economic Security Planning, Inc. Today’s column addresses questions about withdrawing an application for a retirement benefit, filing for and then suspending a retirement benefit and whether and when divorced spousal benefits might be available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which
Congress just made the tax breaks for giving to charity better for 2021. getty There’s good tax news for charities and donors in the year-end spending package Congress passed yesterday. It includes two tax changes that can boost donors tax deductions for charitable giving, meaning they can give more to charity at a lower net