Tag Archives: taxes
IRS Amping Up Its Battle Against Tax Cheats
Wealthy Americans who choose to cheat on their taxes are facing the biggest threat from the IRS that they have seen in years. In recent weeks, we have seen increased efforts by certain members of Congress to put a stop … Continue reading
Powerball Jackpot Hits $1 Billion, How Much Would The Lucky Winner Take Home?
For the 2nd time in its 30-year history, the nation’s Powerball jackpot hits over 10 figures! Whoever is lucky enough to land this massive jackpot will be looking at a considerably smaller payout than advertised. The payout varies depending … Continue reading
Huge Tax Break for Business Machinery – Must Act Fast
The 2017 tax-code overhaul has left behind quite a lucrative benefit, which is set to start being reduced in 2023. While most people rely on the classic gift or charity write-off, the end of this year is presenting people … Continue reading
Miami Dolphins Receiver Tyreek Hill, Chose Florida over New York to Lower His State Tax Payments, and He Isn’t the Only One
Over the summer, Former Kansas City Chiefs Wide Receiver, Tyreek Hill was traded to the Miami Dolphins and proceeded to sign a $120 million deal with the team. He was extremely close to a deal with the New York … Continue reading
Aaron Judge Hits 62, What Does That Mean for Taxes?
On Tuesday, October 4th, Yankees’ outfielder, Aaron Judge sent home Run number 62 into the Dallas sky setting the new American League Record for a single season. The fan who caught the ball may have also caught a … Continue reading
How the Rich Will Protect Themselves From The Estate Tax in 2026
Currently, the amount of money that wealthy Americans can shield from estate taxes in 2022 is at historic highs. Up to $12 million can be protected for individuals, and double that for married couples. However, that is all set to … Continue reading
Goldman Sachs Brings Back Wall Street Tradition With Hundreds Of Cuts This Month
The first major bank on Wall Street kicked off layoff season by cutting hundreds of jobs across the firm. This move is attempting to reign in expenses amid a collapse in deals volume. According to a person with direct knowledge … Continue reading
Improperly Forgiven PPP Loans Can Be Taxed, Says The IRS
This past Wednesday, the Internal Revenue Service made a statement saying that improperly forgiven Paycheck Protection Program (PPP) loans are taxable. The statement was made after federal investigators uncovered billions of dollars in fraud related to several pandemic relief programs … Continue reading
Shakira’s Hips Don’t Lie, After All, She Has Pay Slips to Prove It
Earlier this summer, global superstar and singer, Shakira was accused of tax fraud by the Spanish government. The claim against her was that she had millions of dollars in unpaid taxes from the time of 2012-2014 when she was allegedly … Continue reading
Retirees Can Expect a Larger Social Security Check in 2023. Now For the Bad News
The rising rates of inflation that are sweeping the country over the summer are expected to increase the 2023 Social Security cost of living adjustment, A.K.A. “COLA.” The percentage increase (8.7%) is the largest one in 40 years, … Continue reading