NEW YORK, NY – MARCH 13: A signage of Microsoft is seen on March 13, 2020 in New York City. … [+] Co-founder and former CEO of Microsoft Bill Gates steps down from Microsoft board to spend more time on the Bill and Melinda Gates Foundation. (Photo by Jeenah Moon/Getty Images) Getty Images Nordic asset… More
Topline Home prices, which have been shooting up since last year, grew at a slower pace in April, showing signs of a potential cool down in the red-hot housing market, according to new data from S&P Case-Shiller on Tuesday. Home prices are up significantly from last year, but could cool by later in 2022 thanks… More
Stacking a Cash Balance Pension Plan on top of a Profit Sharing 401(k) can provide the largest tax … [+] savings for high income business owners. getty For small business owners, who don’t want to have to work forever and want to save on taxes, maxing out retirement accounts can be a win-win. Combining a… More
Biden speaking Tuesday in the Roosevelt room at the White House. Getty Images Is too much inflation crushing your summer vacation plans? President Joe Biden has a holiday for you — at the gas pump. Biden is set to request from Congress a three-month, emergency relaxation of the federal tax on gasoline. By removing that… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about how filing early can affect benefits for a spouse, whether an ex’s state pension can reduce divorced spousal benefits and when spousal benefits can become available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of… More
Topline Mortgage rates have surged higher this week as markets digest more aggressive interest-rate hikes from the Federal Reserve, and with the average 30-year fixed mortgage rate hitting its highest level since 2008, experts warn that warning signs in the housing market could spell trouble for the broader economy. Mortgage rates have spiked as markets… More
While Broadway may bring joy into your life, the tax burden of living in New York could bust your … [+] budget. Getty Images Depending on your income in 2021, you may be feeling the pain of paying your state and federal income taxes. Some of you reading this post may be feeling a bit… More
Man with eyeglasses working at home in the living room while wife and daughter playing getty This past weekend was 5/29 or 529 day. It has been my experience that 529 plans are often viewed with trepidation. Whether its questions about how it will affect financial aid or the ability to use funds for out-of-state… More
Ask Larry Economic Security Planning, Inc. Today’s Social Security column addresses questions about how and when spousal benefits can be available for each spouse in turn, drawing divorced spousal benefits with multiple exes and when first payments can be expected. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president… More
You can catch the recent wave of stock market volatility to lower your 2022 taxes on capital gains. Getty Images If you follow the stock market, you know that markets have been highly volatile in 2022. You have likely seen the value of some of your investments drop below what you have paid for them.… More
What does a short-staffed IRS mean for taxpayers? Fewer audits! getty Tax audits are down. By a lot. Internal Revenue Service audit rates of individual taxpayers’ returns have dropped for all income levels from tax years 2010 to 2019, according to a new Government Accountability Office report. On average, individual tax returns were audited over… More
Student loan debt listed on table with name tags. getty In accelerating forgiveness of certain income-based student loans, President Biden performed minor cosmetic surgery on an atrocious system. Fortunately, there’s a simple solution: Let students and parents borrow as well as refinance their loans at the prevailing Treasury’s 30-year bond rate. In accelerating forgiveness of… More
What will deliver higher returns over the next 12 months, I bonds or bitcoin? A year ago such a question would have been silly. Today, not so much. Bitcoin BTC has struggled in 2022, down more than 10%. In contrast, I bonds are set to deliver an estimated 9.62% annualized return starting next month. Here’s… More
Are gifts income the IRS can tax? Fortunately, no, but the line between what is income and what is a gift is sometimes fuzzy. Let’s say you do major favors for your employer and get a gift of $20,000, is that really a gift? You might try to document it that way, but it’s not… More
Young African American couple feeling frustrated while paying their bills over laptop at home. Focus … [+] is on woman. getty It’s tax day folks and the process of preparing them can be difficult if not arduous, especially for more than 14 million taxpayers who ​​paid for tax prep software that they could have gotten… More
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