Taxes

Most people know that if they receive cash, it is probably taxable unless it is an honest to goodness gift. Most people know that if they receive property, that the property is probably also taxed, again, unless it is a true gift. More about gifts below. But how about what happens if it doesn’t seem

A global carbon price of $75 per ton may be the magic number to help blunt damaging carbon emissions. That’s what Kristalina Georgieva, head of the IMF, told Reuters in November 2022 at the U.N. Climate Change Conference in Sharm el-Sheikh, Egypt. But it’s hard to say if the world is close to achieving that

The advertising-supported digital business model is a common strategy used by many companies. The core principle of this model is providing users with a free service, such as search results or social media networking, while generating revenue through advertising. Advertisers pay the company to display ads, and the company employs data and algorithms to personalise

There is confusion about what happens when you inherit a Roth IRA. The rules surrounding required minimum distributions (RMD) from an inherited Roth IRA are different than the Roth IRA or Roth 401(k) you opened and funded yourself. Additionally, the RMD rules for your Roth IRA or Roth 401(k) differ from those for a traditional

Crypto taxes are back in the news. On Tuesday, President Joe Biden tweeted out an infographic that suggested that Congress should cut “Tax Loopholes That Help Wealthy Crypto Investors ($18 billion).” The language had some in the industry scratching their heads: What’s the $18 billion loophole? The White House did not clarify where the dollar

Senator Bernard Sanders (I-VT VT ) ; introduced S.1178, 118th Cong., 1st Sess. (April 18, 2023) and Representative Jimmy Gomez (D-CA) introduced H.R. 2676, 118th Cong., 1st Sess. (April 18, 2023), identical bills entitled “For the 99.5 Percent Act,”. WASHINGTON, DC – APRIL 18: Rep. Jimmy Gomez (D-CA) speaks during a press conference outside the

Once again, the most popular names for babies born in the United States are Liam and Olivia—Liam has topped the list for six years in a row, and Olivia has been the top choice for new parents for four years. The rankings are determined by Social Security Administration (SSA) data based on applications for Social

Our nation is facing a significant shortfall in young people entering the workforce as accountants. Setting aside the joy of accountants wanting to become lion tamers – the impact on the nation is potentially significant. I am seeing first-hand in discussions with our CPA Firm relationships across the country that the dearth of new accountants

Republicans have refused to raise or suspend the debt limit – which multiple independent forecasters have warned could cause the government to default on its debts for the first time in history as soon as June 1st – unless “substantive reforms” to federal spending are made. Biden spent most of this year refusing to indulge

You may think it’s crazy that I’m suggesting you pay an optional tax, but once you understand the tax benefits, you won’t think this is a dumb idea. The pass-through entity tax (PTET) is a valuable tax credit many high-income California business owners need to get. It helps turn non-deductible state taxes you must pay