Spouses who file joint federal tax returns are both generally liable for the tax owed. But joint filers may seek “innocent spouse” relief. One taxpayer requested relief for multiple years of underpaid taxes. A U.S. Court of Appeals found that the U.S. Tax Court...
Awards and settlements are routinely provided for a variety of reasons. For example, a person could receive compensatory and punitive damage payments for personal injury, discrimination or harassment. Some of this money is taxed by the federal government, and perhaps...
In the last year, wealth and investment fads have taken the internet by storm. Between fad-stocks and talk of the impending Metaverse, it can be tempting to look for the next big get-rich-quick scheme to build wealth, but the secret to building wealth in 2022 may not...
You don't need to wait until you retire to enjoy financial freedom. Start building wealth in 2022 by learning how to save money and invest wisely. But what is wealth building, and how can we do it? Here are simple but top wealth building strategies. What is wealth...
Many tax limits that affect businesses are annually indexed for inflation, and a number of them have increased for 2022. Here’s a rundown of those that may be important to you and your business. Social Security tax The amount of an employee’s earnings that is subject...
If you sat around for the entire pandemic, watching everyone and their mother dive head-first into the world of investing, and thought to yourself, “I wish I could do that,” you’re not alone! While you may have missed out on the trendiness of investing in AMC and Game...
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