Sharon McCutcheon Do you know how much money you save right now? And more importantly – do you know if it’s enough? Your savings rate is one of the best metrics to use to determine if you’re on the right track to meet your goals. It’s represented by the percentage of your gross income that
Taxes
Each year, the IRS announces changes to retirement plan contributions for 401(k) plans, individual retirement accounts and more. If you’re in the process of saving for retirement, it is essential to know the current contribution limits and take maximum advantage of them, if possible. The most notable changes for the coming year apply to 401(k)
Economic Security Planning, Inc. Today’s column addresses whether Social Security benefits are recalculated due to continued employment, public pensions and divorced spousal benefits, how divorced spousal benefits are calculated, when spousal benefits are available and foreign pensions. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security
When the U.S. government sold the income tax to the public in the 1940s, its message obscured the tax’s limited application and coercive nature. It promoted the tax as a mass tax through popular culture, forgoing government officials as promoters. Sen. Elizabeth Warren, D-Mass., has done the opposite in messaging her wealth tax proposal. Getty
Share to facebook Share to twitter Share to linkedin The brokerage firm is exploring a bold new play. Getty Topline: As it looks to make up lost revenue from slashing commission fees to zero, brokerage firm TD Ameritrade is reportedly testing different ways it can tap into the sports gambling business, Business Insider first reported.
COLUMBUS, OH – OCTOBER 26: Chase Young of the Ohio State Buckeyes pressures the quarterback against … [+] the Wisconsin Badgers (Photo by Jamie Sabau/Getty Images) Getty Images Late last month, the NCAA said college athletes could get paid for the commercial use of their likenesses or names, though it appeared to limit the compensation.
Share to facebook Share to twitter Share to linkedin Democrats are trying to get ahold of Donald Trump’s tax returns though several difference legal … [+] channels. Photo by Alex Wong/Getty Images Topline: A federal appeals court on Wednesday rejected a last-ditch effort by President Donald’s Trump’s lawyers to shield his financial records from Congress,
The IRS wants us to know that it is getting really serious about abuse in the area of the syndication of conservation easements. IR-2019-182 issued on November 12 tells us: “The Internal Revenue Service announced today a significant increase in enforcement actions for syndicated conservation easement transactions, a priority compliance area for the agency. Financial
Share to facebook Share to twitter Share to linkedin The president spoke on trade, the Fed and the economy, among other topics. Spencer Platt/Getty Images Topline: Speaking at the Economic Club of New York on Tuesday, President Donald Trump criticized the Federal Reserve, touted the health of the U.S. economy and spoke about international trade—particularly
Getty Winston Shrout has been apprehended. The former fugitive and tax fraud promoter had been on the run from law enforcement for months, but he was caught in Arizona this month by the U.S. Marshals Service. Shrout, 70, was convicted in April 2017 on six misdemeanor counts of willful failure to file tax returns and 13