Credit: Getty Royalty Free Getty Are you a small business owner, a contractor or a freelancer—and in a high tax bracket? Well, why stay there? You can use retirement planning to lower your tax liability. The idea is to plug in a lot of money to retirement funds, allowing you to build your post-work future
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Trump’s trade wars are hurting the economy. Getty “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Sun Tzu ‘The Art of War (Sunzi Bingfa)’ Sun Tzu Harvard Business Review Last year I wrote several pieces about the potentially negative effect of Trump’s trade wars on companies,
Samuel and Louise Edelman are challenging the voracious state of New York in the US Supreme Court. The top rate of 8.82% is among the highest in the nation (and then there can be a city tax on top of it), but it is the reach that the Edelmans are complaining about not the rate.
Getty If you’re on the receiving end of correspondence from the Internal Revenue Service (IRS), you’re not alone: it’s correspondence season. And the latest batch of letters to appear in mailboxes may focus on health care. Correspondence season is the term that tax professionals use to describe the period after tax season officially ends. As
Social Security may be one of your largest assets. What and when you collect will make a huge difference to your lifetime benefits. Today’s column examines whether it’s necessary to file and suspend to earn delayed retirement credits (DRCs), spousal benefit availability, effects of remarriage on benefits already being received, reductions for filing early and
ASSOCIATED PRESS The International Monetary Fund (IMF) is Pakistan’s new government. When it comes to major economic decisions, that is. IMF sets the policies that will either make or break the country’s economy. Early this month, the Washington-based institution gave Pakistan a $6 billion loan that helped the newly-elected government of Imran Khan cope with
The IRS has begun sending letters to people with virtual currency transactions who may have failed to report income and pay taxes, or who did not report their transactions properly. By the end of August, more than 10,000 taxpayers will receive the letters, targets the IRS says it obtained through various ongoing IRS compliance efforts.
A burned European Union (EU) flag. Photographer: Konstantinos Tsakalidis/Bloomberg photo credit: © 2015 Bloomberg Finance LP © 2015 Bloomberg Finance LP There’s an eerie but placid tone in current U.S.-Europe relations. Investors should view it as the calm before the storm that could eventually wreak havoc across global financial markets. “It seems most likely that tensions
Share to facebook Share to twitter Share to linkedin Congress is once again trying to impose a carbon tax on the American people, with multiple bills coming from both Democrats and Republicans. It must be understood that a carbon tax would be one of the most regressive taxes the United States has ever seen. A Tesoro
Getty Taxpayers who deal – or even dabble – in virtual currency may be on the receiving end of a letter from the Internal Revenue Service (IRS) this month. The IRS has announced that they have begun sending letters to taxpayers who might have failed to report income and pay the resulting tax from virtual