Taxes

Suits for the infringement of patents or other intellectual property are usually ask for lost royalties, a stream of payments that the inventor would have collected but for the infringement. Most people—even those who know very little about taxes—are likely to say that a stream of royalties is probably taxed as ordinary income. How then

A series of strategies for tax-wise investors. Table of Contents. Philanthropy getty Billionaires easily deduct their philanthropic contributions. Moderately prosperous people have to get creative. This year you get a $25,100 standard deduction on a joint return ($27,800 if you are both at least 65). The limit on deductions for state and local taxes is

Economic Security Planning, Inc. Today’s column addresses questions about taking retirement benefits early before switching to spousal benefits at full retirement age, whether or not to notify Social Security about a change in projected income and when widow’s benefits can be started. Larry Kotlikoff is a Professor of Economics at Boston University and the founder

CPA Mark Astrinos, 37, started Los Gatos, California firm Libra Wealth not quite four years ago. Alison Yin/AP Images for American Institute of Certified Public Accountants Libra Wealth is giving stock pickers a run for their money by offering advice on tax maneuvers at a fraction of the cost. Mark Astrinos is a 37-year-old CPA

A series of strategies for tax-wise investors. Table of Contents. Entrepreneurs (Photo by Tom Munnecke) Getty Images To help entrepreneurs, Congress has granted a tax exemption on capital gains from small companies. Small here is defined as having no more than $50 million in assets when an investor buys in. The deal is codified in

Lawsuit form an a desk with pen and calculator getty Things have not been great for the syndicated conservation easement (SCE) industry. Late in December, two accountants who focused on SCE pled guilty to conspiracy. The circumstances of their pleas indicate that they are cooperating with the prosecution. The latest is that David Deary’s firm

Tax-hungry legislators may go after incomes over $400,000. But they will likely leave in place a rich collection of avoidance devices. Here are ways that investors minimize damage from the IRS. Democrats, narrowly in control of Congress, are equipped to undo parts of the 2017 Trump tax cut and, perhaps, to attack some of the

Economic Security Planning, Inc. Today’s column addresses questions about how continuing to work can increase benefit amounts, whether to file for early retirement benefits while receiving Social Security disability benefits and how the earnings test can affect a benefit taken before full retirement age. Larry Kotlikoff is a Professor of Economics at Boston University and

New IRS guidance about tax deductions and PPP Loan Forgiveness getty What a year 2020 was, and so far, 2021 has been quite exciting as well. For business owners, we finally have some excellent news about PPP Loan forgiveness. After some confusion over the past year, we finally have some clarity to the question of

getty For years, Treasury has advised taxpayers that virtual currency is not required to be reported on the Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts, or what used to be called the FBAR. That appears to be changing. FinCEN has now announced an intention to amend the rules

Albert Einstein is reputed to have said “Compound interest is the eighth wonder of the world. He who understands it earns it. He who doesn’t pays it.” Whether Albert Einstein really said that isn’t the point. Instead, consider that the point is well taken, and was never more well taken than when dealing with the

President-elect Joe Biden has unprecedented plans for the housing industry. His proposal for $640 billion over 10 years includes three tax incentives — a new renter’s tax credit, a refundable first-time homebuyer’s credit, and an expansion of the low-income housing tax credit (LIHTC). The incoming administration will likely review and finalize recently released proposed regulations (REG-119890-18) on

WILMINGTON, DELAWARE – JANUARY 06: U.S. President-elect Joe Biden delivers remarks about the … [+] storming of the U.S. Capitol by a pro-Trump mob. (Photo by Chip Somodevilla/Getty Images) Getty Images With improbable Democratic wins in both Georgia Senate runoff elections, President-elect Joe Biden has an opportunity to govern with a congressional majority—though one that

MAJADAHONDA, MADRID, SPAIN – MAY 11. A mother in Spain working while taking care of her infant … [+] child. (Photo by Miguel Pereira/Getty Images) Getty Images Even while the nation struggles with vaccinations, we want to know if the Covid-19 pandemic has made permanent changes to the economy, with some observers assuming office work will

Fearless Girl statue by the New York Stock Exchange – what you need to know about new capital gains … [+] taxes for 2021 on your investments gains. Getty Images We have seen the stock market rocket to several new record highs in the past few months. This is on top of the fantastic bull

The recently released FinCEN Notice 2020-2 states that the agency is intending to subject cryptocurrencies held in overseas locations to the Foreign Bank and Financial Accounts Reporting (FBAR) regime. Currently, taxpayers with foreign financial interest (bank account, securities account, or brokerage account) exceeding over $10,000 in any given year are required to comply with FBAR

The higher your tax bracket, the more you save by signing up for healthcare and dependent care FSAs … [+] at work. getty Got leftover money stuck in your healthcare or dependent care FSA? The giant year-end spending package provides tax relief for workers who socked away pre-tax money into flexible spending accounts for 2020

AFP via Getty Images As Yogi Berra would say, “It like déjà vu all over again”. At least that is what many ultra-high net worth individuals and families are feeling as election day looms in Georgia. Two months before in the lead up to the presidential election, many were feeling that the election outcome would have a

ATLANTA, GEORGIA – JANUARY 04: President-elect Joe Biden speaks during a campaign rally with … [+] Democratic candidates for the U.S. Senate Jon Ossoff and Rev. Raphael Warnock the day before their runoff election in the parking lot of Centerparc Stadium January 04, 2021 in Atlanta, Georgia. Biden’s trip comes a day after the release

I’ve never been big on celebrating the New Year. When I was in high school and for much of my early 20’s, I worked for a party decorating company and I spent late December tying tens of thousands of balloons. Maybe hundreds of thousands. On New Year’s Eve, as midnight approached and champagne flowed, I