Gather round. All employees need to know at least 3 tax numbers for 2022. getty Tax-return season for 2021 income has officially begun. However, don’t forget to look ahead and consider your tax planning for 2022. Key numbers in tax-law provisions are adjusted for inflation at the start of each year. Some of these adjustments… More
No one likes receiving Forms 1099, since they saddle you with income you have to report. Actually, of course, if you have income, you must report it, whether or not you receive a Form 1099. But think of the Form 1099 as a pretty strong nudge, you better list it. And seeing the dollars reported… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about whether a new application is necessary to receive retirement benefits after taking spousal benefits, taking early survivor’s benefits before retirement benefits and when Social Security considers you to be 70. Larry Kotlikoff is a Professor of Economics at Boston University and the… More
NFT text, written on a notebook with calculator,pen on officebackground. getty The creative process of individuals, and the medium through which a Creator works, is constantly expanding, including digital assets such as Non-fungible Tokens. NFTs that are created, bought, sold or exchanged are considered property by the IRS, and so these are taxed like art buying,… More
IRS Forms 1099 generally come in the mail around the end of January or early February and report how much you were paid in the prior calendar year. Don’t ignore them, as each one will be matched against your tax return when you file. Forms 1099 can be wrong, so check them carefully. IRS Forms… More
As we near the beginning of the race to complete our 2021 taxes, there is still time to decrease … [+] your small business taxes for 2021. You can also increase your QBI business tax deduction by increasing your tax deductible retirement plan contributions. getty While year’s end is still the ideal time for tax… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about how high benefit rates can possibly be, whether there’s a Social Security benefit increase for caring for a disabled spouse and the accuracy of Social Security’s benefit estimates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and… More
Lukka said it planned to use the funds for “aggressive growth and global expansion strategy” with its current customer base dealing in products related to the crypto space. Cryptocurrency accounting and data company Lukka said it had raised $110 million in a new funding round led by hedge fund giant Marshall Wace.In a Friday announcement,… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about whether having reduced income before filing will reduce retirement benefit rates, potential effects of pensions based on income not taxed by Social Security and benefits potentially available after remarriage. Larry Kotlikoff is a Professor of Economics at Boston University and the founder… More
This could well be the year that inflation starts to smack the stock market. The current episode of What’s Ahead explains why. Investors need to understand that there are two kinds of inflation: monetary and nonmonetary. Last year most of the increases in prices came from pandemic disruptions, made worse by Biden Administration blunders. This… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about how income earned after previous earnings are inflation indexed at 62 affect how benefits rates are calculated, recalculation of WEP reductions due to substantial covered earnings and the family maximum benefit. Larry Kotlikoff is a Professor of Economics at Boston University and… More
Greenwich is a town in Fairfield County, Connecticut, United States. Connecticut boasts the highest … [+] real per capita personal income in the U.S. at $68,533 as of 2020. getty Often when you look up incomes by state, the data is actually showing the nominal household income, rather than what an individual person is earning.… More
Charitable crypto campaigns aim to give back this holiday season, demonstrating how effective cryptocurrency and NFT donations can be for donations. The holidays are the perfect time of the year for giving back, and the rise of cryptocurrencies has created even more opportunities for charitable initiatives. This was highlighted during Giving Tuesday 2021, the Tuesday… More
You have to like this news if you live in one of six states that were impacted by Hurricane Ida. Back in September, the IRS extended the Oct. 15 tax filing deadline for Ida victims until January 3, 2022. But now, victims of Hurricane Ida in six states have until Feb. 15, 2022 to file… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about what affect stopping work at 65 before filing at 67 would have on benefit rates, how to acquire more quarters of coverage to qualify for benefits and how early you can submit your application before actually beginning to receive benefits. Larry Kotlikoff… More
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