Sun, 23 Apr 2017 08:45:00 -0400If you have pre-tax, Roth, and taxable accounts, how much should you withdraw from each one? Here are some things to consider:
Fri, 21 Apr 2017 16:10:00 -0400Are we really headed towards a government shutdown? As Congress and the White House grapple with the next steps, here's what you need to know.
Fri, 21 Apr 2017 16:10:00 -0400
The 16 day partial federal government shutdown in 2013 provides a road map to what will happen if Congress and the White House can’t reach a deal to keep the government operating at the start of the new fiscal year on October 1, 2015, or if they reach a short-term deal, and a shutdown happens later.What’s open or closed is largely determined by the 1884 Antideficiency Act, as interpreted by the Reagan Administration and its successors. Bottom line: national defense and services needed to protect against imminent threats to human life or to property continue, as do certain services paid for by fees or appropriations outside the annual budget. But other services cease or slow and some economic losses can never be made up. Read the full story here.
No, the checks won’t be in the mail, but that’s because Social Security benefits are now only paid by electronic deposit. Social Security spending is authorized by a statute apart from the annual budget so the 65 million Americans receiving Social Security retirement, disability or survivors’ benefits will get their money on time. Military retiree and disability payments will also continue. Read the full story here.
The National Park Service estimates it receives an average of 800,000 visitors a day at the hundreds of parks, monuments, seashores and preserves it manages. While all parks were initially closed in 2013, as the shutdown dragged on, 13 sites, including the Grand Canyon and Statue of Liberty, were reopened using state funds. Total tourism losses were estimated at $500 million nationwide. Read the full story here.
The U.S. Postal Service, while it has its own chronic budget problems, is funded by stamps and other sales---not annual Congressional appropriations. That means it isn't directly affected by a federal shutdown. Post offices will also continue to accept passport applications, which the State Department can continue to process, since that's funded by user fees. Read the full story here.
During the 2013 shutdown, about 850,000 federal civilian workers were told to stay home. But even the 1.2 million who were deened essential and continued to report to work couldn’t legally be paid until Congress appropriated the money. Ultimately, all fed[...]
Fri, 21 Apr 2017 14:51:00 -0400Planning and saving for retirement does not have to be painful. A few simple retirement planning moves can help make the difference when April 17, 2018 rolls around.
Fri, 21 Apr 2017 12:21:00 -0400Today’s column examines the differences between filing & suspending and restricted applications, divorced spousal benefits, divorced widow's benefits, the sequencing of spousal and retirement benefits and the calculation of spousal benefits.
Fri, 21 Apr 2017 10:22:00 -0400If the government shuts down, IRS employees will likely be furloughed, which by one estimate could freeze roughly $8 billion in refunds owed to 2.5 million families, some of whom may be depending on the money to pay bills or fund big purchases.
Fri, 21 Apr 2017 08:45:00 -0400If you’re thinking of investing in solar, geothermal or wind to power your house, here’s the latest on state and federal tax incentives.
Fri, 21 Apr 2017 07:00:00 -0400Most people struggle with ballooning debt burdens, whether mortgage payments or students loans. However, thanks to fintech, the personal finance space is witnessing interesting developments that might provide some relief to the debt-ridden.
Thu, 20 Apr 2017 18:50:00 -0400On Thursday, the Consumer Financial Protection Bureau sued Ocwen, currently the largest servicer of subprime home mortgages in the United States, for "failing borrowers at every stage of the mortgage servicing process."
Thu, 20 Apr 2017 15:54:00 -0400The tech prodigies and founders behind fintech start-up Aragon, a decentralized management platform for companies globally built on the Ethereum blockchain, have set the date for a crowdfund sale to pave the way for further development in its network and core technology.
Thu, 20 Apr 2017 09:58:00 -0400It's 4/20, sometimes called National Weed Day. The possession of marijuana is prohibited by federal law even though a number of states have laws to the contrary - and are making money off of the once-forbidden drug.
Wed, 19 Apr 2017 14:55:00 -0400Trump is not the first chief executive to wrestle with the optics of being a non-payer. In 1977 Jimmy Carter paid exactly nothing to the federal treasury.
Wed, 19 Apr 2017 10:59:00 -0400It probably shouldn't be shocking that a federal VAT is among the choices to potentially replace the corporate tax in any major tax reform effort.
Wed, 19 Apr 2017 09:33:00 -0400Morgan Stanley's rebounding shares continue to be supported by strengthening performance from the bank and its CEO James Gorman.
Wed, 19 Apr 2017 09:33:00 -0400
The FORBES ranking of America’s Top Wealth Advisors rates thousands of wealth advisors on metrics like revenue trends, assets under management, compliance records and industry experience.
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Wed, 19 Apr 2017 09:32:00 -0400Today’s column addresses the continuing ability to file and suspend, the ability to file a restricted application, widow's benefits after remarriage, filing with a public pension and the availability of spousal benefits.
Wed, 19 Apr 2017 09:04:00 -0400If you put too much in your IRA, you could owe a big penalty unless you fix the mistake on time.
Wed, 19 Apr 2017 08:00:00 -0400President Trump is eyeing a proposal to eliminate Social Security payroll taxes. Here's how it would kill the most popular retirement benefit.
Tue, 18 Apr 2017 14:44:00 -0400With tax reform looming large on the legislative agenda, how will corporations be held accountable?
Tue, 18 Apr 2017 14:38:00 -0400New polls show that most Americans are relatively satisfied with their federal income taxes. What will that mean for a 2017 tax bill?
Tue, 18 Apr 2017 09:20:00 -0400Athletes file taxes not only in their home state but also in every state—and some cities—in which they play. An NBA player visits 21 states during a season.
Tue, 18 Apr 2017 08:49:00 -0400Tax Day Protests confirmed that many still care about Trump's tax returns. Yet even if they were disclosed, just what would they reveal?
Tue, 18 Apr 2017 08:47:00 -0400What would you do to avoid paying taxes? Here are the results from a recent GOBankingRates survey.
Tue, 18 Apr 2017 08:28:00 -0400IRS scandals are destructive to the tax system and undermine taxpayer confidence. And political targeting is particularly worrisome.
Tue, 18 Apr 2017 08:02:00 -040080% of parents don’t know what a 529 plan is, and 60% of those saving for college don’t use one. This Miami startup is trying to change that.
Tue, 18 Apr 2017 01:40:00 -0400If Trump and the GOP can get it together on tax reform, shareholders could get to hold onto tens of billions a year in additional profits -- and gain the opportunity to repatriate $2 trillion in offshored capital.
Tue, 18 Apr 2017 01:40:00 -0400
2016 sales: $223 billion
EBIT: $36 billion
Income taxes: $9.2 billion
Effective tax rate: 27.4%
CEO Warren Buffett reportedly paid $1.9 million in federal income taxes in 2015.
2016 sales: $485 billion
EBIT: $22 billion
Income taxes: $6.2 billion
Effective tax rate: 30.3%
Doug McMillon, CEO, 2016.
2016 sales: $217 billion
EBIT: $59 billion
Income taxes: $15.8 billion
Effective tax rate: 25.8%
Tim Cook, chief executive officer of Apple Inc., left, and Paul Sagan, chief executive officer of Akamai Technologies Inc., attend the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Wednesday, July 11, 2012.
2016 sales: $198 billion
EBIT: $4.2 billion
Income taxes (inc stmt): -$400 million
Income taxes paid (cash flow stmt): $4.2 billion
Effective tax rate: -5.1%
Darren Woods, chief executive officer of Exxon Mobil at the 2017 CERAWeek conference in Houston, March 2017.
2016 sales: $196 billion
EBIT: $3.6 billion
Income taxes: $774 million
Effective tax rate: 26.8%
John Hammergren, CEO of McKesson.
2016 sales: $185 billion
Net income: $7.2 billion
Income taxes: $4.9 billion
Effective tax rate: 40.3%
Stephen Hemsley, ceo of UnitedHealth Group, speaks at the Milken Institute Global Conference in Beverly Hills, California, May 1, 2012.
2016 sales: $180 billion
EBIT: $10.7 billion
Income taxes: $3.3 billion
Effective tax rate:38.4%
Larry Merlo, CEO of CVS Health, 2011.
EBIT: $10.5 billion
Income taxes: $2.4 billion
Effective tax rate:10.6%
CEO Mary T. Barra, March 2017.
2016 sales: $164 billion
EBIT: $25.5 billion
Income taxes: $6.5 billion
Effective tax rate:32.7%
Mon, 17 Apr 2017 21:25:00 -0400Tax Day is April 18, 2017. To help ease that IRS-related stress, consider taking advantage of one of these Tax Day freebies, specials and deals.
Mon, 17 Apr 2017 19:57:00 -0400Wonder how you measure up to other taxpayers? Acxiom Corporation took a dive into taxpayer data. Here's what they found.
Mon, 17 Apr 2017 10:11:00 -0400Today’s addresses how benefits can and can't be sequenced, filing with a disabled child, divorced spousal benefits, filing in a financial crunch and widow's benefits.