Tag: Accounting/Consulting

From stimulus checks and bitcoin to mask write-offs — read this checklist before the tax filing deadline on May 17

If taxes are a certainty in life, so are the people who wait until the last minute to file. Well, that last minute is getting...

One culprit in the IRS backlog of 1.7 million tax returns? Broken printers and copiers, watchdog report says

Long-languishing 2019 tax returns and tardy tax refunds are being held up partly because of a shortage of working printers and copiers at Internal Revenue...

‘Life turns on a dime’: She donated $950 from her first stimulus check to a food bank — then received a cancer diagnosis

Almost exactly a year ago, Toi Cudworth looked around and realized she was one of the lucky ones. The San Antonio, Texas resident had a...

I’m a disabled police officer. My wife persuaded me to sign quit-claim deed so she could refinance our home at a better rate. Now she’s hinting at divorce

I have been married for almost thirty years. I worked the first nine years of our marriage, I was a police officer, and became disabled....

My employer paid me in crypto. It rose 700% in value. Now he wants employees to return the crypto and accept dollars

I did some business development work for a tech company on a contract basis. The CEO stated that I would be paid in crypto when...

New York City sets goal to reopen fully on July 1: De Blasio

Mayor Bill de Blasio announced Thursday morning that New York City will set a goal to ‘fully reopen’ on July 1, citing the city’s strong...

The government promised to forgive military members’ student loans after 10 years of service — it’s only worked for 124 of them

Almost 3 million people are employed by the Department of Defense, many of whom are performing a quintessential form of public service: Serving in the...

My wife makes $200K a year, but gives us $700 a month, and $3,000 to her brother and mother ‘to keep them in the good life’

Never reached out to anyone about my personal life, but I am at a draw. My wife and I married in 2008, and I knew...

Disney fan complains Walt Disney World is becoming too ‘woke’ and new home sales surge past expectations as builders race to meet demand

Happy Friday MarketWatchers. We’re almost done with our money challenge! Next week we’ll be focusing on taking action to reach our money goals. Make sure...

My husband and I bought a $387K building with my parents. We sold it for nearly $1M. We took care of it. Do we still split it 50-50?

I have a situation that seems to have no good answer, and I need an outside opinion.  Ten years ago, my husband and I entered...

How much income should you spend on homeownership? How to avoid being ‘house poor’

Andy Hill discovered he was house poor soon after he bought his first home in 2004. When Hill put 10% down on the 1,200-square-foot house...

If you’re in your 50s or 60s, consider these moves to avoid higher taxes in retirement

If you are working with an eye toward retirement or even semiretirement, you are probably (hopefully) saving more than you could in the past in...

April 15 is not tax day in 2021, but it’s still a crucial deadline for some taxpayers — are you among them?

But the words normal and typical don’t seem to apply to anything these days, and this year’s tax season is no exception. So the simple...

Are you worrying too much about running out of money in retirement?

This article is reprinted by permission from NerdWallet.  Many U.S. households retire without enough money to maintain their pre-retirement standard of living. Once retired, though,...

Expecting another refund after the IRS calculates the $10,200 unemployment tax break? You might want to do more than just wait

The Internal Revenue Service says it will automatically readjust tax returns and issue extra refunds for people who already filed their taxes before a valuable...

How to choose investment funds—what to do, and what to avoid

This article is reprinted by permission from NerdWallet. This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does...

When can I deduct business meal and entertainment expenses under current tax rules?

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target. If you’re confused about what rules currently apply, I...

Most people couldn’t correctly answer this pandemic-related tax quiz. Can you do better?

The pandemic’s economic fallout is putting people’s tax knowledge to the test, and they’re not passing with flying colors. A new survey indicates that many...

Taxpayers won’t have to file extra paperwork to get this valuable unemployment tax break, IRS confirms

The Internal Revenue Service has an important message for people who already filed their 2020 taxes before a valuable tax break became law. Don’t do...

Carole Streicher is first women to take reins of KPMG’s U.S. deals team. Here’s how she got there

Unlike most children, who want to be a firefighter or doctor, Carole Streicher, at 5 year’s old, knew she wanted to be a certified public...

PwC lets U.K.-based staff choose start times — and clock off early in the summer

PwC has told its U.K. based staff they can spend around half their working hours at home after the COVID-19 pandemic ends — and clock...

The child and dependent care tax credit is more lucrative than ever — but there’s one important caveat

The $1.9-trillion stimulus package known as the American Rescue Plan Act (ARPA) includes major changes to the longstanding federal-income-tax child and dependent care credit (CDCC)....

The new stimulus bill will help shore up some shaky pension plans

Good news on the retirement-income front. Some 1.5 million workers and retirees faced the real risk that their pension incomes would be slashed over the...

Under $1.9 trillion stimulus bill, jobless Americans who earned less than $150,000 last year will save an average of $1,000 in taxes

This time, it’s different. Unlike the first two COVID-19 stimulus packages, the new $1.9 trillion stimulus package adds tax relief onto another round of federal...

Is your income just over the threshold for the $1,400 stimulus check? Tax preparers have tips to help you qualify

Now that President Joe Biden has signed the $1.9 trillion COVID-19 relief bill authorizing $1,400 checks to millions of households, people who received the first...