This episode of What’s Ahead points out that President Biden’s proposal for a national $15 minimum wage would kill millions of jobs, especially in beleaguered small businesses. Past experience shows that part-time workers and those without high school diplomas would be hurt the most. There is an infinitely better approach that wouldn’t destroy jobs and
Taxes
You should expect to receive the following IRS tax forms from cryptocurrency exchanges and similar platforms before January 31, 2021. The information reported on these forms summarize your 2020 activity and have a big impact on your cryptocurrency tax bill. Form 1099-K (Payment Card and Third Party Network Transactions) If you had more than 200
getty It’s finally here! The Internal Revenue Service (IRS) has rolled out a new online option that will help tax professionals submit certain authorization forms electronically. To date, the new option applies to two forms: Form 2848, Power of Attorney and Declaration of Representative, and Form 8821, Tax Information Authorization. These forms allow taxpayers to
I took three of my kids ice skating in Maggie Daley Park last month. It is hard to find fun things to do together during the pandemic, and I never had the stomach to brave the lines during “before times.” One of the many silver linings I’ve embraced during this otherwise incredibly difficult time is
Economic Security Planning, Inc. Today’s column addresses questions about when spousal benefits can be filed for, how deeming affect people born in 1954 and later, how foreign pensions can affect Social Security benefits and how the lower earning spouse can maximize their benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the