Even before the COVID-19 pandemic, there has been a rise in the use of contingent workforces as a result of the gig economy. This is because small business owners are always looking for easier ways to work with resources instead of making them employees for their company. On the Small Business Radio Show this week, Jaime Lizotte, Tax Compliance Solutions […]
President Joe Biden is preparing to roll out a $3 trillion infrastructure plan paid for in part by $2 trillion in tax increases on U.S. corporations. The premise is that the economic benefits of government infrastructure spending outweigh the economic harm from an increase in corporate taxes. The Biden administration has yet to make that case, and economic studies—including those […]
The legalization and taxation of recreational marijuana remains one of the hottest trends in state taxation. Currently, 16 states (Alaska, Arizona, California, Colorado, Illinois, Maine, Massachusetts, Michigan, Montana, Nevada, New Jersey, New York, Oregon, South Dakota, Vermont, and Washington) and the District of Columbia have passed bills or approved ballot measures that allow for the sale of recreational marijuana, and […]
In this article GS MS BTC.CB= A Goldman Sachs logo is seen displayed on a smartphone screen. Omar Marques | SOPA Images | LightRocket | Getty Images Goldman Sachs is close to offering its first investment vehicles for bitcoin and other digital assets to clients of its private wealth management group, CNBC has learned exclusively. The bank aims to begin […]
Zoom In IconArrows pointing outwards This year’s tax season has turned out to be a complicated one — the American Rescue Plan made changes midseason, and the IRS pushed back the filing deadline for individual returns to May 17 from April 15. Even though most Americans have extra time to file, 32% of taxpayers are still unsure whether they’ll be […]
The Internal Revenue Service responded Tuesday to calls for extending more tax deadlines by giving taxpayers until May 17 to make IRA and HSA contributions and file some refund claims. The IRS issued the announcement as a follow-up to the news earlier this month that it is extending the April 15 tax-filing deadline until May 17. The IRS also issued […]
Stop paying accountants when you can just use QuickBooks. January 15, 2021 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. We’re into a new year, which means tax […]
In this article BAC Patrick T. Fallon | Bloomberg | Getty Images Bank of America is expanding its racial justice initiative, devoting more funding toward advocacy and equality for communities of color. “The urgency we feel to address long-standing issues of inclusion and racial inequality has only increased following the attacks and hate speech directed at Asian people over the […]
Robert Daly | Getty Images The Biden administration is expanding an existing pause on student loan interest and collections to include more than 1.1 million borrowers who are in default, the U.S. Department of Education announced Tuesday. The borrowers, whose defaulted loans are part of the Federal Family Education Loan program, were ineligible for the current payment pause and interest […]
Two books provide financial advice for the immediate issues and for retirement. But for deep problems you are likely to need additional help. Two books are intended to help people who are worried about their finances in the midst of this painful pandemic. One suggests ways of improving your situation right now. The other focuses on ensuring that when and […]
The Financial Accounting Standards Board released an accounting standards update Tuesday that gives private companies and nonprofits an accounting alternative to decrease the complexity of performing a goodwill triggering event evaluation. Under current U.S. GAAP, goodwill needs to be tested for impairment when a triggering event happens that indicates that it’s more likely than not that the fair value of […]
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Invoicing software provides an easy way for small businesses to streamline billing operations. These tools allow business owners and freelancers to request payments and get paid faster. Some even offer advanced features like time tracking, project management, and the ability to send recurring […]
In an effort to rein in perceived excesses in executive compensation, Sen. Bernie Sanders (I-VT) and other co-sponsors have proposed to increase a company’s corporate income tax rate progressively based on the difference between median worker pay and CEO pay. The proposal, titled the “Tax Excessive CEO Pay Act,” fails to acknowledge that the corporate tax is partly borne by […]
Table of Contents Executive Summary Income tax repeal is on the agenda in West Virginia, with Governor Jim Justice (R) and Republicans in both the House and Senate releasing plans for dramatically lowering or eliminating the state’s individual income tax. Despite their shared aims, these plans represent vastly different approaches. They are not even aligned on which income should benefit […]
In this article GS VIAC DISCA 8604.T-JP CSG.N-CH GME CNBC’s Jim Cramer on Monday implored younger investors to stay in the market for the long term, despite turbulent events this year, including, most recently, the forced liquidation of positions held by a multibillion dollar family office. “We don’t want it to be 2000 when we lost a quarter of the […]
ljubaphoto | E+ | Getty Images More than a dozen states aren’t offering a new tax break on unemployment benefits. That means taxpayers will need to pay state tax on benefits they received last year, absent any forthcoming changes to state law. The American Rescue Plan waived federal tax on up to $10,200 of jobless aid, per person, collected in […]
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