getty The widow(er)’s penalty tax is one of the least known yet most onerous of the retirement Stealth Taxes. I frequently warn people about the solo years, the years after one spouse has passed away. The surviving spouse has to maintain the household with one less Social Security benefit and perhaps a decline in other
Taxes
People walk past the US Capitol in Washington, DC on December 16, 2020. – Congressional leaders on … [+] December 16, 2020 said they were nearing a long-awaited agreement on a stimulus package for the US economy, while the Federal Reserve is set to provide updated forecasts on an uncertain outlook.A federal relief package to
STERLING, VA – DECEMBER 13: U.S. President Donald Trump climbs into golf cart number 45 as he golfs … [+] at Trump National Golf Club on December 13, 2020 in Sterling, Virginia. (Photo by Al Drago/Getty Images) Getty Images It’s perhaps the most fitting end for a presidency plagued by crisis and mismanagement: the federal
Can you deduct business expenses? Of course. But can you deduct them if you use forgiven PPP loan money to pay for them? Until now, the debate has raged, with the IRS saying multiple times “no way, no tax deduction.” But finally, Congress has come to the rescue and said that the whole point of
getty You’re a small business owner. What are you more constantly thinking about? Sales or profits? Both are critical. One provides the lifeblood to your business. The other provides the lifeblood to your, well, living. It’s a tough decision. If you’re like most small business owners, this is a constant pushmi-pullyu struggle. But something more
Young woman gives golden gift box wearing a protective Face maks for Covid-19, present and … [+] Coronavirus concept. social distance background getty Excited about giving or receiving gifts this holiday season? What’s not so exciting are the tax implications that may come with them. We often get questions about those implications this time of
How green is your home? Grab the federal solar tax credit while you can. getty If you’re thinking about embracing solar power at home, Congress is poised to increase the tax incentives offered and give you more time to act. That’s good news for the solar industry and folks who were on the fence about
Socially distanced sleeping cots are seen at the temporary shelter set up inside the San Diego … [+] Convention Center in San Diego, California, U.S., on Monday, April 13, 2020. The convention center conversion is dubbed Operation Shelter to Home and includes case workers who will help connect people in the shelter with housing, benefits
Senator Cornyn (R-TX) and a bipartisan group of Senators (including Chairman Grassley (R-IA) and Ranking Member Wyden (D-OR) of the Finance Committee) introduced legislation, S. 3162, the “Small Business Expense Protection Act,” a few weeks ago that would clarify that businesses that receive a loan from the Paycheck Protection Program (PPP) – and the loan
FILE – This May 31, 2020, file photo provided by the Hennepin County Sheriff shows former … [+] Minneapolis police officer Derek Chauvin, who was arrested Friday, May 29, in the May 25 death of George Floyd. Chauvin had more than a dozen misconduct complaints against him before he put his knee on George Floyd’s