What retirees need to know about qualified charitable distributions

What retirees need to know about qualified charitable distributions

David Jakle | Image Source | Getty Images If you’re retired and giving to charity this holiday season, experts say there’s a way to trim your 2022 tax bill while supporting your favorite cause. Despite economic uncertainty, the majority of American adults plan to donate similar amounts this year as they did last year, a … Read more

Business owners have a big tax deadline coming up well before April

Business owners have a big tax deadline coming up well before April

New business formation has boomed, and that means more new business owners than ever are dealing with tax season and potential tax nightmares.  While there aren’t that many tax changes that will affect small businesses in the upcoming tax season, what is new — coupled with evergreen tax issues that tend to trip up small … Read more

President Biden decides on nomination for IRS Commissioner

President Biden decides on nomination for IRS Commissioner

The Internal Revenue Service building in Washington. SAUL LOEB/AFP via Getty Images New role a ‘challenging assignment,’ former IRS commissioner says Biden’s nomination comes at a critical time for the agency. After another difficult filing season, the IRS is still wrestling with a backlog. As of Nov. 4, there were 4.2 million unprocessed individual returns … Read more

Key deadline to claim 2021 tax credits, $1,400 stimulus checks looms

Key deadline to claim 2021 tax credits, ,400 stimulus checks looms

Charnsitr | Istock | Getty Images Certain tax credits were made temporarily more generous in 2021. For certain people, there still may be time to claim the money, which may add up to thousands of dollars — but some politicians aren’t happy the IRS just reminded Americans about the cash. The federal agency recently sent … Read more

Crackdown on companies run by 'Mickey Mouse' and fake movie stars | The Business | ABC News – ABC News (Australia)

Crackdown on companies run by 'Mickey Mouse' and fake movie stars | The Business | ABC News – ABC News (Australia)

Crackdown on companies run by ‘Mickey Mouse’ and fake movie stars | The Business | ABC News  ABC News (Australia)

What ‘millionaire tax’ plans on California, Massachusetts ballots mean for taxpayers

What ‘millionaire tax’ plans on California, Massachusetts ballots mean for taxpayers

How states plan to spend ‘millionaire tax’ revenue While the proposed taxes sound similar, there are differences in how each state plans to use the revenue.  In Massachusetts, assuming voters pass the measure, the tax is expected to generate about $1.3 billion of revenue in 2023, according to a Tufts University analysis. The state aims … Read more

How to save above 401(k) deferral limits with after-tax contributions

How to save above 401(k) deferral limits with after-tax contributions

If you’ve already maxed out 401(k) plan contributions for 2022 and you’re eager to save more for retirement, some plans have an under-the-radar option, experts say. For 2022, you can defer $20,500 into a 401(k), plus an extra $6,500 for investors 50 and older. But the total plan limit is $61,000 per worker, including matches, … Read more

What 8.7% Social Security COLA for 2023 means for taxes on benefits

What 8.7% Social Security COLA for 2023 means for taxes on benefits

Halfpoint | Istock | Getty Images Retirees who rely on Social Security benefits for income will get some relief from record high inflation when an 8.7% cost-of-living adjustment kicks in next year. But two factors — the size of Medicare Part B premiums and taxes on benefits — may offset just how much bigger those … Read more

The Beatles – Taxman – TheBeatlesVEVO

The Beatles – Taxman – TheBeatlesVEVO

The Beatles – Taxman  TheBeatlesVEVO The Beatles Share New Animated Video For ’Taxman’ Ahead Of ’Revolver’ Reissues  Yahoo Entertainment The Beatles release new animated video for Taxman  Louder Watch the Beatles’ New Music Video for ‘Taxman’  Ultimate Classic Rock View Full Coverage on Google News

Powerball and Mega Millions jackpots are both above $400 million

Powerball and Mega Millions jackpots are both above 0 million

mphillips007 | iStock Unreleased | Getty Images There’s a whole lot of money up for grabs this week in two national lotteries. Powerball’s jackpot is an advertised $420 million for Wednesday night’s drawing. Mega Millions’ top prize is even more: $494 million for the next pull, set for Friday night. Of course, the chance of … Read more