© 2019 Bloomberg Finance LP Netflix is the new Tesla. On Wall Street, that is. Netflix and Tesla are in totally different businesses. But they have a couple of things in common on Wall Street. One of them is that they are both “hot” stocks. This means that they have a strong following among investors
Taxes
Too many people think of investing when they think of retirement planning. It distracts them from the issues that should be the focus of most of their time and energy. When people first learn what I do, most of them soon ask me questions about investing and the markets. It doesn’t seem to matter what
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 addresses whether Social Security benefits can increase even without continued income, filing a restricted application, potential ramifications of filing at 62 for divorced spousal benefits, benefit eligibility after remarriage and
IRS-CI Chief Don Fort speaks during an IRS Criminal Investigation 100th year anniversary event. Photographer: Andrew Harrer/Bloomberg © 2019 Bloomberg Finance LP One hundred years ago, six United States Post Office Inspectors were transferred to the Bureau of Internal Revenue (now Internal Revenue Service) to become the first special agents in charge of a new crime
According to the second law of thermodynamics, a natural process always progresses to entropy or chaos. For the sake of argument, let’s look at the increasingly complex U.S. tax code. Even with laws aimed to simplify the system, such as the Tax Cuts and Jobs Act (TCJA), simplification in one area — such as the
Credit: AFP/Getty Images Getty The stock market has had a good run this year, although there has been one worrying spell as the weather warmed. From the look of things so far, is the old maxim is wrong, that summer is a bad time for equities? Well, perhaps the current rally is due to one-off circumstance,
The IRS was looking for $5,167,000 in Code Section 6701 penalties (Aiding and abetting understatement of tax liability) from Martin A Kapp CPA EA. Special Trial Judge Peter Panuthos of the Tax Court in his decision knocked it down to $3,218,000. US Army black and white photos: Sinking ship Getty A Poetic Dispute I don’t know
In the last article of this column, we discussed two big taxpayer wins delivered by the US Supreme Court. One of those wins struck down North Carolina’s statute that imposed income tax on out-of-state trusts with in-state beneficiaries. To quickly recap, under long-standing rules: The trustee’s state of residency could tax all trust income from
Share to facebook Share to twitter Share to linkedin Alimony is no longer tax deductible for new divorces. iStock Balancing family dynamics when going through a divorce is never easy. New laws have added an additional layer of complexity. Before 2019 the alimony deduction had been a key divorce planning strategy for over 70 years. The payor
Russell Westbrook has to be thrilled with is tax-savings “payday”. (AP Photo/Alonzo Adams) ASSOCIATED PRESS The NBA offseason has left every other league in the dust with its drama. As if the first week and a half were not crazy enough, Thursday night the Oklahoma City Thunder traded 2017 MVP Russell Westbrook to the Houston