- The 2021 Capital Gains Tax Rate Thresholds Are Out – What Rate Will You Pay?on October 27, 2020 at 10:15 am
If you sell stocks, mutual funds or other capital assets that you held for at least one year, any gain from the sale is taxed at either a 0%, 15% or 20% rate. Those tax rates for long-term capital gains are typically much lower than the ordinary tax rates you'd otherwise pay, which can be as high […]
- Employers refilling open accounting jobs amid pandemicon October 27, 2020 at 10:01 am
Nearly 70 percent of organizations that have furloughed or laid off their employees during the novel coronavirus pandemic plan to back-fill the roles that were eliminated with other employees taking over.
- Auditors assessing cybersecurity riskson October 27, 2020 at 10:00 am
Auditors can help companies improve the reliability of their cybersecurity disclosures, according to a new report from the Center for Audit Quality.
- Are Opportunity Zones for You? 5 Questions to Askon October 27, 2020 at 9:45 am
Remember when markets tanked in March and April as panic spread over the coronavirus’ impact? Many investors, including savvy ones, offloaded stocks after years of strong gains, saddling themselves with hefty capital gains tax liabilities. In the search for alternatives to paying the tax […]
- IRS Releases Income Tax Brackets for 2021on October 27, 2020 at 9:30 am
Tax planning is all about thinking ahead. And since the federal income tax brackets for the 2021 tax year are now available, you can start thinking about how to handle your 2021 finances in a tax-efficient way — even though it's still 2020. SEE MORE Bad News on IRA and 401(k) Contribution Limits […]
- What Are the Income Tax Brackets for 2020?on October 27, 2020 at 3:12 am
It's never too early to start thinking about your next tax return. For most Americans, that'll be your federal tax return for the 2020 tax year — which, by the way, will be due on April 15, 2021 (or October 15, 2021, if extended). The 2020 tax rates themselves are the same as the rates in effect […]
- Ranges for IRA eligibility change for 2021on October 26, 2020 at 11:36 pm
The thresholds will all rise, according to the Internal Revenue Service.
- Bad News on IRA and 401(k) Contribution Limits for 2021on October 26, 2020 at 10:07 pm
There's good news and bad news from the IRS for Americans saving for retirement with IRAs, 401(k)s, and other retirement accounts in 2021. Let's start with the bad news: Contribution limits won't go up next year. SEE MORE The 100 Most Popular Mutual Funds for 401(k) Retirement Savings And now the […]
- Stock Market Today: Stocks Retreat as COVID's Second Wave Growson October 26, 2020 at 8:50 pm
A number of COVID-related worries got the best of Wall Street on Monday, kicking off what very well could be a volatile seven-session stretch ahead of the elections. The U.S. on Friday reported 83,757 new cases of COVID-19, easily surpassing its previous high (77,632) reported on July 16; another […]
- Corvee releases tax planning softwareon October 26, 2020 at 8:28 pm
Corvee, which recently rebranded from AccountingTax.com, has released a new tax planning software billed as able to help accountants plan proactively and strategically for their clients.
- The 7 Best SPDR ETFs to Buy and Holdon October 26, 2020 at 8:04 pm
State Street's job as an investment manager is to get you from point A to point B with as little pain as possible, and hopefully, plenty of assets in your retirement portfolio. And to its credit, many of its best SPDR ETFs do exactly that. State Street now boasts 140 ETFs under the SPDR nameplate. […]
- IRS adjusts tax item amounts for 2021 due to inflationon October 26, 2020 at 7:20 pm
The Internal Revenue Service issued its annual inflation adjustments Monday for tax year 2021, revising more than 60 tax provisions, including tax rate schedules, standard deduction amounts and more.
- CFOs face growing demands amid coronaviruson October 26, 2020 at 6:53 pm
CFOs and senior finance executives are dealing with a growing number of responsibilities and demands as a result of the novel coronavirus pandemic, according to a new report.
- The rising profile of ESG reportingon October 26, 2020 at 6:29 pm
Investors and other stakeholders are showing a growing interest in environmental, social and governance reporting, according to KPMG partner Maura Hodge, and there's a major role for auditors in serving that interest.
- IRS beefed up ID theft filters for businesses, but still has work to doon October 26, 2020 at 6:27 pm
The service is better at detecting identity theft in business tax returns, according to a new report, but it’s still letting many potentially fraudulent claims get through.
- Art of Accounting: 2 days of free CPE last weekon October 26, 2020 at 5:02 pm
Last week I spent parts of two days at the Accounting & Finance Show USA and, from what I could tell, it was very well attended and organized and the virtual meetings were held without any hitches.
- How Presidential Elections Affect the Stock Marketon October 26, 2020 at 4:53 pm
Every four years, politics and finance converge as Americans elect a president and investors try to figure out what the outcome means for their portfolios. A look back at history shows that presidential election cycles indeed correlate with stock market returns – although not in the same, […]
- FASB proposes to clarify accounting for forwards and optionson October 26, 2020 at 4:06 pm
The proposed accounting standards update aims to clarify an issuer’s accounting for certain modifications of equity-classified forwards and options (such as warrants) that remain equity classified after their modification.
- 5 CARES Act Benefits to Take Advantage of Before Year’s Endon October 26, 2020 at 9:55 am
When you think about the actions the U.S. government has taken to help stem the economic damage caused by the COVID-19 pandemic, you probably remember those that put more money in your pocket. The $1,200 stimulus payment. The extra weekly $600 you received in additional unemployment benefits if you […]
- Once You Create a Living Trust, Don’t Forget to Fund Iton October 26, 2020 at 9:37 am
Far too often, when I review prospective clients’ trust documents and financial statements, I find that their accounts haven’t been titled in the name of the trust they created. SEE MORE 5 Unfortunate Estate Planning Myths You Probably Believe Did they mistakenly believe that simply by having […]
- Know What You’re Paying for When You Buy an Annuityon October 24, 2020 at 9:55 am
Even if you’ve spent your entire career stashing away money to pay for retirement, you may still be worried the nest egg you’ve worked so hard to build will not last as long as you need it to. SEE MORE How to Pick an Indexed Annuity For one thing, American life expectancies are near record […]
- The Politics of Election-Year Financial Planningon October 24, 2020 at 9:35 am
Planning for the next presidential administration is driving the financial advisory industry to hyperbolic extremes right now. Most discussions center on the impact of an immediate rescission of the 2017 Tax Cuts and Jobs Act (TCJA) effective retroactively on Jan. 1, 2021. While it is true that the […]
- Stock Market Today: Stimulus Stalemate Stalls Stockson October 23, 2020 at 9:00 pm
The market was mixed Friday as investors weighed the stalemate over stimulus and some disappointing quarterly reports from major blue chips. Lawmakers' back-and-forth over a deal to pump trillions more into the economy to soften the blow of the pandemic has been a running theme for stocks. SEE […]
- 15 Mighty Mid-Cap Stocks to Buy for 2021on October 23, 2020 at 5:38 pm
The market's best mid-cap stocks – companies between roughly $2 billion and $10 billion in market value – are fertile ground for investors who want to have their cake and eat it too. Mid-caps, often referred to as "Goldilocks" stocks, offer a 1-2 punch of financial stability you don't get from […]
- 5 Best Mining Stocks to Buy Nowon October 20, 2020 at 5:50 pm
When investors think of mining stocks, they typically think of gold miners – the firms that search for and extract gold, and become popular whenever gold prices soar, like they have in 2020. Gold mining stocks, often used as a hedge against disaster, can indeed be fruitful investments. Factors […]
- 10 Best European Stocks for an Income-Rich Recoveryon October 12, 2020 at 4:03 pm
Leading wealth managers including BlackRock, Merrill Lynch and Putnam are advising their clients to invest in foreign stocks to take advantage of better values overseas. And the market's best European stocks are one such store of value-priced diversification. U.S. stocks are closing on all-time […]
- The Best and Worst Presidents (According to the Stock Market)on July 23, 2018 at 4:18 pm
Mount Rushmore features massive 60-foot-tall busts of celebrated presidents George Washington, Thomas Jefferson, Abraham Lincoln and Theodore Roosevelt, each chosen for their respective roles in preserving or expanding the Republic. But if you were to make a Mount Rushmore for presidents based on […]
- Gasoline Prices to Cool This Fallon January 22, 2018 at 12:00 am
Motorists will continue to see lower prices at the pump. Ever so slowly, gasoline prices are coming down. The national average price of regular unleaded stands at $2.16 per gallon today, off a penny from one week ago and three cents from a month ago. With fuel demand still weak because of more […]
- Earnings Reports for the Week of Oct. 26-30 (AAPL, AMZN, CVX, FB, GOOGL, MSFT, XOM)on January 22, 2018 at 12:00 am
Below is a weekly earnings calendar of the most important upcoming quarterly reports schedule to be released by publicly traded companies. There are also earnings previews for select companies. Please check back often. This earnings calendar is updated weekly. Monday (10/26) Tuesday (10/27) […]
- Short Rates Likely Staying Near Zero Through 2024on December 26, 2017 at 12:00 am
The Federal Reserve at its most recent Federal Open Market Committee meeting recommitted itself to keeping short-term interest rates near zero for the foreseeable future, which likely means through 2024. The Fed is also continuing to purchase $80 billion of Treasury securities and $40 billion of […]