No matter who crunches the numbers, there's one thing retirees can expect: high health care bills. Along with housing, health care is among the biggest of retirement expenses, and yet it's one that not enough people plan for. According to a 2016 survey from Nationwide Retirement...
The IRS recently issued a warning cautioning taxpayers to watch for “Summertime Scams”. The newest scam which is linked to the Electronic Federal Tax Payment System (EFTPS) has been reported nationwide. In this con, scammers claiming to be from the IRS call demanding immediate tax...
Several tax attributes and related tax planning opportunities are lost when a taxpayer dies. However, careful and thoughtful pre-planning for clients who are elderly or nearing death can result in substantial tax savings. PASSIVE ACTIVITY LOSSES A decedent's suspended passive activity losses are allowed on the final...
Many who are involved with fundraising through a volunteer or booster club may be unaware of the related tax implications. These clubs have come under intense scrutiny recently from the Internal Revenue Service and the courts, so it is important to know the rules. Common assumptions about...
Whether you’re part of the “on-demand” workforce or a business that outsources work to this type of contractor, it’s apparent from a recent study that this new “economy” is having a huge effect on a new generation of entrepreneurs. In the updated forecast by Intuit®...
The present is getting better. The future, not at all. Even as more Americans say the economy is improving, a clear majority remain fearful about their children’s financial prospects, according to a study released in early June. The pessimism is not limited to the United States, either,...
Reports prepared by public company auditors will contain more information for investors and other financial statement users as a result of new rules approved 6/1/17 by the PCAOB during an open meeting in Washington. Under the new PCAOB standard and related amendments, the auditor's report will...
If it’s on the internet and in ALL CAPS it must be true! Whether it’s the GUY WHO TURNED $10,000 INTO $20 MILLION or the HOT TECH STOCK THAT WILL SHOCK YOU, you’ve probably seen some version of this fake news dozens of times a day....
Fueled by passion and idealism, young adults have long sought to change the world for the better. A few select professions are often specifically associated with these types of endeavors: Doctors, journalists, and teachers readily come to mind. And every lawyer can cite big cases...