Topline JPMorgan Chase CEO Jamie Dimon told CNBC that he supported higher taxes on the rich as a way to boost economic growth, but that a wealth tax would be “almost impossible” to implement compared to an income tax. The JPMorgan CEO said higher taxes on the rich could help economic growth. Alex Wroblewski/Getty Images
Taxes
Wildfires, high prices and taxes can seem like three strikes against California. The cost of living is high, and tax rates are too. California’s 13.3% rate is the same on ordinary income and capital gain, and under a pending tax bill, that top 13.3% rate could climb to 16.8%, retroactive to January 1, 2020. What’s
Economic Security Planning, Inc. Today’s column addresses questions about how Social Security spousal benefit rates are calculated, when divorced spousal benefits can be available and widow’s benefits before full retirement age while still working. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which
While tax, appraisal, and legal considerations are all important for making effective and compliant contributions of Bitcoin (and other cryptocurrencies), the practical question remains – how does a donor move virtual currency from their ownership to a charity they support? getty Many charities do not have the expertise on staff, which is understandable considering that
Human crowd forming continent Africa on white background. Horizontal composition with copy space. … [+] Clipping path is included. Population and Social Media concept. getty The countdown to October — and the release of the OECD’s long-awaited international tax overhaul — is on. Even if there is political agreement on the OECD’s proposal, it will take some
Topline At least 8.7 million or more Americans could be at risk of losing out on $1,200 coronavirus stimulus checks due to incomplete IRS and Treasury Department records, according to a Monday report from Congress’ auditing arm, which examined the unprecedented $2.6 trillion lawmakers passed in emergency support as the coronavirus pandemic took hold. Non-tax
Senator Elizabeth Warren, a Democrat from Massachusetts and 2020 presidential candidate, walks on … [+] stage during a campaign event at Iowa State University in Ames, Iowa, U.S., on Monday, Oct. 21, 2019. Warren unveiled an $800 billion plan to fund her progressive proposal for reshaping U.S. public education and disclosed that her signature wealth
getty While the price of gold rose to new highs during the summer, you probably saw a number of ads recommending investing in gold through an IRA. You’re probably also aware that gold is a “collectible,” and that IRAs aren’t allowed to own collectibles. Both those thoughts are correct. Gold is a collectible, but there
Economic Security Planning, Inc. Today’s column addresses questions about what happens to benefits lost to the earnings test, filing for spousal benefits before full retirement age, available benefits with multiple exes and survivor benefits and the earnings test. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
NEW YORK, NEW YORK – JULY 17: People participate in a “March on Billionaires” event on July 17, 2020 … [+] in New York City. The march, which included a diverse group of activists, politicians and citizens, called on New York Governor Andrew Cuomo to pass a tax on billionaires and to fund workers excluded
Phil Murphy, governor of New Jersey, in 2019 when he again proposed a millionaire’s tax. The … [+] proposal ultimately succeeded this week. Photographer: Ron Antonelli/Bloomberg © 2019 Bloomberg Finance LP New Jersey has approved a millionaire’s tax, making it the fourth state (including Washington, D.C.) to do so. The agreement reached Thursday between Gov.
Years ago, when entertainer Jimmy Durante ended an appearance — whether live or on television — he would always sign off with his trademark catchphrase, “Good night, Mrs. Calabash, wherever you are.” It was a tribute to his first wife who died in 1943, which he would continue until his retirement nearly 30 years later.
getty Gold is a hot investment again. There are a lot of ways to invest in gold, and there are different tax consequences for each of these methods. Gold investors aren’t going to have equal after-tax returns, and part of the reason is the differing tax treatments of the ways to invest in gold. Consider
getty On September 23, 2018, police in York County, Pennsylvania, responded to reports of a shooting. When they arrived, they learned that a couple had been shot: Kimberly Forney was struck in her lower leg, and Matthew Forney had been hit twice in his upper chest. The culprit? The couple’s son-in-law, Robert Hedrick. Hedrick told
Watch Tax Notes International contributing editors Robert Goulder and Nana Ama Sarfo discuss the tax development of OECD, how it compares to that of the U.N., and the OECD’s past and present international tax reform efforts. Here are a few highlights . . . On the history of the League of Nations and the United Nations Nana
Getty Our schools stopped in-person instruction due to the pandemic in March. Within a few weeks, it was evident that we were going to have to make some changes. My daughter, who was studying for the German AP exam, was encouraged to practice at home. Since I could – at best – only order a
KATWIJK, NETHERLANDS – JULY 7: In this photo illustration, visual representations of the digital … [+] Cryptocurrency, Bitcoin, gold chain necklace and silver coins are displayed atop Euro banknotes on July 7, 2020 in Katwijk, Netherlands. (Photo by Yuriko Nakao/Getty Images) Getty Images How much you paid for your cryptocurrency (the cost basis) has a
Representative Josh Gottheimer, a Democrat from New Jersey and co-chair of the House Problem Solvers … [+] Caucus, center, speaks during a news conference at the U.S. Capitol in Washington, D.C., U.S., on Tuesday, Sept. 15, 2020. A 50-member group of House Democrats and Republicans released a $1.52 trillion coronavirus stimulus plan today in a
UNITED STATES – SEPTEMBER 15: Rep. Josh Gottheimer, D-N.J., joined by other members of the Problem … [+] Solvers Caucus, unveils the March to Common Ground, a COVID-19 relief package, at the House Triangle on Tuesday, Sept. 15, 2020. (Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images) CQ-Roll Call, Inc via Getty Images This
Getty Did you file for an extension for your 2019 federal income tax return? If so, you have about a month remaining to file: the deadline to file your federal income tax return on extension is on or before the October 15, 2020. October 15 is the same deadline to file a federal income tax