NEW TONED DOWN INFLATION ACT

New toned down inflation act. The bill that President Biden wanted passed, had a climate change proposal in it, to finally address the warming of planet earth. It also had some parts that several Senators questioned, and one decided a portion of the bill had to go, for her support. Key centrist Senator Joe Manchin […]

SECURE ACT SECURING YOUR TAXES

Secure Act securing your taxes. The Secure Act was the brainchild of those who saw the wrecked retirement landscape in America, due to the Covid pandemic. Millions of households dipped into IRS retirement 401 (k)s to get by, and that not only lowered what they had for retirement, but they had to pay penalties for […]

NEW IRS TAXPAYER OFFICE INCREASE COLLECTIONS

New IRS taxpayer office increase collections. Under the Taxpayer First Act, the taxpayer experience has been reimagined based on the following six pillars, which represent the long term goals the IRS hopes to achieve over the next 10 years. 1 Expanded digital service. 2 Seamless experience. 3 Proactive outreach and education 4 Community of partners […]

BIDENS TAX RULES AND REAL ESTATE IMPACT

Bidens tax rules and real estate impact. Both candidates have made all sorts of proposals on ways to change things from taxes to healthcare to the COVID-19 pandemic. Democratic candidate Joe Biden has proposed a change to the tax benefits for making 401 (k) contributions, so here’s a rundown of what the change would be […]

BILLIONAIRE INVESTOR EVADES TAXES

Billionaire investor evades taxes. Billionaire Robert F. Smith has been hailed as a brilliant investor who built Vista Equity Partners into a private equity powerhouse and a generous philanthropist lauded for paying off the student debt of Morehouse College’s entire graduating class last year. But federal prosecutors undercut that image by saying Smith concealed income […]

NEW STIMULUS MAY HAVE MORE THINGS

New stimulus may have more things. Whether or not Congress approves another round of stimulus checks with its next economic rescue bill–and it’s certainly looking like lawmakers will send out new direct payments–the new coronavirus aid act may offer additional benefits that could help you weather the current financial crisis. And we don’t just mean […]

VIRUS ACT FREEZES STUDENT LOAN PAYMENTS

Virus act freezes student loan payments. One of the less discussed benefits in the CARES Act is assistance for those with federal student loans. But unlike other programs in the stimulus legislation, no application is required. The law doesn’t cancel student debt, but it does freeze payments–and their interest–for everyone who has a federally held […]

BENEFITS OF MEDICARE AND SOCIAL SECURITY

Benefits of medicare and social security. Are they better taken at different times ? Millions of seniors depend on Social Security to pay the bills in retirement. Similarly, millions look to Medicare to cover their health related needs. And while the two programs are interrelated, eligibility for them kicks in at different times. Benefits of […]

SIX TAX DEDUCTIONS YOU WILL LOSE IN 2019

Six tax deductions you will lose in 2019. If you were hoarding receipts in a shoe box in the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That’s because the Tax Cuts and Jobs Act placed steep limits on itemized deductions, including lesser known breaks for the fees you […]