Month: December 2019

The Internal Revenue Service issued the 2020 optional standard mileage rates Tuesday that taxpayers and tax professionals can use to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Starting on Jan. 1, 2020, the standard mileage rates for the use of a car (along with vans, pickups or
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By Jamie Hopkins, Next Avenue Contributor Getty The new Setting Every Community Up For Retirement Enhancement (SECURE) Act, just signed by President Trump, is the broadest piece of retirement legislation passed in 13 years. Ultimately, the law focuses on retirement planning in three key areas: 1) modifying required minimum distribution (RMD) rules for retirement plans;
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The decision to give to charity is often made hurriedly at the end of the year for business taxpayers and investors as they combine their impulse to give with a desire to generate a tax benefit. However, it’s a decision that needs careful consideration, according to Tom Wheelwright, CPA, CEO of WealthAbility. “Small-business owners, entrepreneurs
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Everybody seems to be talking about a wealth tax heading into next year’s presidential election. Clients are no different. Should the wealthy be taxed more? “The answer will depend on who’s asked the question,” said Twila Midwood, an Enrolled Agent at Advanced Tax Centre in Rockledge, Florida. “Our wealthy clients are appalled. I’d venture that
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Concern about the $100 billion Mormon horde, the “scandal” I have dubbed EnsignGate seems to still be a thing. I have a little more to share on it, but I would also like to do a bit of review of my Mormon coverage. I have made an attempt to stake a big claim to the
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Companies are using “clawbacks” to recover incentive compensation that was given to executives through erroneous financial reporting while lowering their effective tax rates, but the practice of clawback adoption could be having some negative consequences, according to a new study. The study, which will be appearing in the January issue of The Accounting Review, a
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Share to facebook Share to twitter Share to linkedin The two countries had been formalizing the agreement since earlier this month. Mark Schiefelbein/AFP via Getty Images Topline: China’s top negotiator, Vice-Premier Liu He, will lead a delegation to Washington this week to sign the much-anticipated phase one trade deal, marking a significant de-escalation of the
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Having a great, well-thought-out succession plan for your business shows a lot of care and respect for the people that you love and care about. With a proper agreement, the beneficiaries will be your family, your staff, your clients and every supplier from your landlord to the office supply company that you use. It isn’t
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Logo and mascot ‘Ali cattle’ at the headquarters of Alibaba Group in Hangzhou. Zhang Peng | LightRocket | Getty Images Technology and bank stocks in Asia dominated the top picks for analysts in 2019, as shares in the region made strong gains this year. Mainland Chinese stocks also rallied this year, with the Shanghai composite
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