News

Here’s the tax bill on the $226 million Mega Millions jackpot

Source: cnbc.com - Nov 26, 2019

If you’re daydreaming about how you’d celebrate winning the Mega Millions jackpot, remember that Uncle Sam has a way of crashing the party. After about two months of twice-weekly drawings with... Read more >

Category: General Business

2019 Gulf Coast Elections Mean Louisiana Is Poised To Remain A Tax-Hiking Outlier In A Region Full Of Tax-Cutting States

Source: forbes.com - Nov 22, 2019

The 2019 election results across three Gulf Coast states - Louisiana, Mississippi, and Texas — produced a mixed bag of results. Texas voters acted to ensure that the Lone Star State will remain... Read more >

Category: General Business

China's Xi says he wants to work out initial trade deal with U.S.

Source: reuters.com - Nov 22, 2019

BEIJING (Reuters) - China wants to work out an initial trade agreement with the United States and has been trying to avoid a trade war, President Xi Jinping said on Friday, but is also not afraid... Read more >

Category: General Business

Year-End Financial Checklist to Prevent Tax Penalties and Missed Planning Opportunities

Source: kiplinger.com - Nov 22, 2019

As you approach the end of the calendar year, there are many financial deadlines and cutoffs that you may not be aware of. From minimum distributions to annual gifting exemptions to tax-loss... Read more >

Category: General Business

Don’t botch this year-end retirement move, or else you’ll face taxes

Source: cnbc.com - Nov 22, 2019

If you turned 70½ this year or you’re older, you’re on the hook for a required minimum distribution out of your individual retirement account and each of your 401(k) plans. This also means... Read more >

Category: General Business

Health care: How plans from Biden, Buttigieg, Sanders and Warren stack up

Source: cnn.com - Nov 21, 2019

(CNN)At first glance, Sen. Elizabeth Warren's introductory "Medicare for All" option looks similar to the proposals championed by former Vice President Joe Biden and South Bend, Indiana, Mayor Pete... Read more >

Category: General Business

Divorce, Retirement Accounts And Taxes: The Importance Of Getting It Right

Source: forbes.com - Nov 21, 2019

In law school, one of our professors noted the irony of divorce settlements. It’s funny, she remarked, that two people who often found it difficult to talk about money when they were married are... Read more >

Category: General Business

CPA Paul Miller: Tax deductions that can lower your 2019 tax bill -- there's still time

Source: foxbusiness.com - Nov 21, 2019

The Tax Cuts and Jobs Act was the largest tax reform legislation in over three decades. With a number of changes to the tax code, it’s critical that individual taxpayers and business owners... Read more >

Category: General Business

Filing deadline for state taxes, payments extended due to ransomware attack

Source: wafb.com - Nov 20, 2019

BATON ROUGE, La. (WAFB) - The Louisiana Department of Revenue (LDR) is extending the filing dates for state taxes that were initially due Nov. 20 due to Monday’s ransomware attack on the... Read more >

Category: General Business

Taxes in Retirement: How All 50 States Tax Retirees

Source: finance.yahoo.com - Nov 20, 2019

Retirees relocate for lots of different reasons, from the weather to proximity to grandchildren. Moving from a pricey part of the country to one with low housing prices could also lower your... Read more >

Category: General Business

Taxes in New Orleans all but set: Property owners can expect a slight dip in rates

Source: nola.com - Nov 20, 2019

Months after a citywide reassessment caused property values to shoot up across New Orleans, its likely impact on taxpayers’ wallets is becoming clearer. The bottom line: Total property tax rates... Read more >

Category: General Business

Get ready for taxes: Important things to know about tax credits

Source: nkctribune.com - Nov 13, 2019

ASHINGTON – With the tax filing season quickly approaching, the Internal Revenue Service recommends taxpayers take time now to determine if they are eligible for important tax credits. This is... Read more >

Category: General Business

2020 IRS Income Tax Refund Chart: When Will You Get Your Tax Refund Check?

Source: cpapracticeadvisor.com - Nov 13, 2019

Wondering when you will get your 2020 income tax refund from the IRS? We have the answer in a simple chart. (See the chart below.) The tax reform law that took effect in early 2018 will still have... Read more >

Category: General Business

IRS Says 2 Million ITINs To Expire In 2019, Encourages Taxpayers To Renew Now

Source: forbes.com - Nov 13, 2019

The Internal Revenue Service (IRS) has issued a reminder to taxpayers with an expiring Individual Taxpayer Identification Number (ITIN) to submit renewal applications. Failing to renew an ITIN by... Read more >

Category: General Business

Here are 3 great reasons to take Social Security benefits at 62

Source: azcentral.com - Nov 8, 2019

In the ever-popular "when to claim Social Security" debate, you'll often hear age 62 tossed around as a viable option. That's the earliest age seniors can file for benefits, though claiming them at... Read more >

Category: General Business