Budget 2017 income tax

Share to Twitter Share to Linkedin The IRS has given victims of severe winter storms, flooding, landslides and mudslides in California that began March 9, 2023, until Oct. 16, 2023, to file various individual and business tax returns and make tax payments. Following the disaster declaration issued by FEMA, individuals and households affected by severe winter storms, flooding, landslides and mudslides that reside or have a business in Alpine, Amador, Butte, Calaveras, Del Norte, El Dorado, Fresno, Glenn, Humboldt, Imperial, Inyo, Kern, Kings, Lake, Los Angeles, Madera, Mariposa, Mendocino, Merced, Mono, Monterey, Napa, Nevada, Orange, Placer, Plumas, Sacramento, San Benito, San Bernardino, San Francisco, San Joaquin, San Mateo, San Luis Obispo, Santa Barbara, Santa Clara, Santa Cruz, Sierra, Sonoma, Stanislaus, Trinity, Tulare, Tuolumne and Yuba counties qualify for tax relief. The declaration permits the IRS to postpone certain tax-filing and tax-payment … [Read more...] about IRS Expands Tax Relief For California Storm Victims

Share to Twitter Share to Linkedin For many, it is not the most wonderful time of year. Whether you do your own taxes or get professional help, tax time is usually a stressful time. This is especially true for small business owners and founders. Small business owners have enough to manage with their business throughout the year, but come April they need to organize and manage a massive amount of information. Between tracking revenues and expenses, estimating tax deductions and credits and the filing process, it’s no wonder so many make mistakes at tax time. Luckily there are professionals who can help business owners avoid making common mistakes and maximize their returns. Shiloh Johnson, MST, CPA, built ComplYant to help small businesses and founders navigate their taxes. She has seen first-hand the stressful outcomes when people don’t understand tax requirements. She said there are three steps in tax preparation that can help business owners and founders … [Read more...] about 3 Steps For Small Business Owners To Avoid Common Tax Mistakes

Share to Twitter Share to Linkedin There are pros and cons to living anywhere. Before you quit your job (retire), list your house, and move your life across the country, take a deep breath and ask yourself the questions we cover in this post. As a Los Angeles Financial Planner, I often speak with people looking to save on taxes and living expenses. These are just two pieces of the puzzle of having a happy retirement. Your retirement income needs can vary widely by where you live during your golden years. That being said, a lower cost of living or better weather may not give you the happy retirement you dream of . With your happiness in mind, consider the following nine questions before finalizing a major retirement move. 1. What Do You Want To Do In Retirement? Many retirement brochures show happy couples walking on beaches, traveling, or spending quality time with grandchildren. Do you see yourself filling your days/weeks/months/years … [Read more...] about 9 Questions To Help You Decide Whether To Move In Retirement

Share to Twitter Share to Linkedin Retirement is about more than money, investments, and never having to work again. I’ve helped many people retire happily over the years, and rarely is this happiness attributable to having the largest 401(k) or Roth IRA. That being said, financial stress can ruin an otherwise enjoyable retirement. Keep reading as we share some tips to have a happier, healthier, and wealthier retirement . Whether or not you believe money can buy happiness, I will say a lack of money sure can bring misery. Either way, having an adequate source of income in your golden years is a major driver of a happy, healthy, and secure retirement. Here are just a few ways to increase your happiness during retirement, whether you consider yourself rich or poor. What Will Your Happy Retirement Entail? We can argue about whether money can buy happiness, but there is no debate, money can’t buy love or health. Having a solid group of friends and (or) … [Read more...] about Financial Planner Shares Tips For A Happier Retirement

Share to Twitter Share to Linkedin Justin Goodbread CFP®, CEPA, CVGA, at WealthSource Partners, LLC, is a financial educator, wealth manager, author and speaker. As a small-business owner, finances are often a complex subject. Many times, you neglect your personal finances for the sake of growing the business. This is an understandable strategy, but neglecting to pay yourself first could actually hinder your ability to grow at a healthy pace. This is because without taking care of your own finances, you're operating from a scarcity mindset. However, there's a simple habit that could help create stability in your financial situation enabling you to be more agile in your business: paying yourself first. I want to explore some of the benefits of paying yourself first, how much of your income you should be setting aside and why accepting a salary as a small-business owner might be a good idea. Three Benefits Of Paying Yourself First Paying … [Read more...] about Pay Yourself First: Why It’s Important For Small-Business Owners

Share to Twitter Share to Linkedin The Saving Problem Secure 2.0 Aimed to Solve Secure 2.0 is a pension reform package passed at the end of last year with provisions to lower taxes on retirement savings for high earners and to expand coverage and retirement savings. At least, that was a hope. My colleague and I, Siavash Radpour, Research Director at the Schwartz Center for Economic Policy Analysis at The New School, unpacked the provisions to investigate how well Secure 2.0 will do to help those without an employer plan or significant levels of retirement savings. The sorry truth is that most, over 63 million workers , have no retirement plan that will supplement their Social Security. And the average holdings for the worker with a retirement account is about $100,000. What is the Savers Credit/Match in Secure 2.0 and how does it affect American workers’ retirement security? Before SECURE 2.0, the Savers’ Credit credited a low earners’ tax bill … [Read more...] about Q&A: Does Secure 2.0 Go Far Enough To Really Expand Retirement Savings?

Share to Twitter Share to Linkedin Tencent Q4 Earnings Overview Tencent reported Q4 financial results after the Hong Kong close and before the US open overnight. Goldilocks would say that the results were "not too hot and not too cold." Ultimately, advertising revenue increased +15% year-over-year (YoY) in Q4 year over year compared to a -7% decrease in 2022 from 2021. We knew that Q4 was not going to be good as COVID spread across China following the elimination of the zero COVID policy. Markets are forward-looking, so the pickup in Q4 likely means another pickup in Q1, Q2, etc. In fact, during the conference call, the company said that January and February were showing “positive signs” of a sustained recovery. Tencent’s main performance drivers are video games and its WeChat social media platform, which is up to 1.3 billion users globally. While international games saw gains, domestic games were off. Management slashed sales and marketing expenses by -47% YoY in … [Read more...] about Tencent Provides Promising Outlook As Investors Wait For Jay Powell

Today, PLDT Inc. is set to hold a briefing to discuss its 2022 performance amid a great deal of challenges that have left investors wondering about its financial standing. The telco giant run by tycoon Manuel V. Pangilinan, popularly known as MVP, has been in hot water since it revealed a P48-billion budget overrun back in December due to “over orders” of 5G technology. During its initial probe, PLDT shared that no fraudulent activities had been detected that resulted in the overspending. It has not since provided additional information about the investigation. The telco player is also facing multiple class action suits in the United States as disgruntled investors seek compensation from losses incurred following the announcement that had sent PLDT’s securities spiraling down. PLDT said it’s aware of the legal cases but had yet to be served with the papers. The office of PLDT wireless unit Smart was also shut down by the Makati government last month allegedly due to unpaid … [Read more...] about BIZ BUZZ: PLDT’s moment of truth

Share to Twitter Share to Linkedin Spring is in the air–and so, apparently, are corporate layoffs. Companies including Microsoft Corp, Amazon, Meta, Pepsi, Boeing, Disney and Goldman Sachs Group have cut thousands of jobs. The information sector, which includes many tech workers, saw employment decline for the third straight month, by 25,000. Finance and insurance, which are affected by rising interest rates, saw a decline of 10,000 jobs to 6.7 million. Wall Street economists began 2023 anticipating a recession by midyear. If that happens, layoffs would almost certainly increase. I have some advice on important steps to take now, even before you get that dreaded layoff notice. Get organized– As soon as you suspect that a layoff is in the picture, start analyzing your finances, medical needs and job skills. That includes looking at your spending to see how you can cut back. If you don’t already follow a budget, you can get started with … [Read more...] about How You Can Financially Thrive And Survive A Layoff

Share to Twitter Share to Linkedin We’re going to ride this Silicon Valley Bank (SIVB) fiasco to big dividend payouts—I’m talking yields up to 12.6%!—and quick upside, too. I’ll walk you through exactly what we’re going to do below. Then I’ll name two unloved (for now!) dividends we’ll target. We’re Not Dropping a Quarter Into GameStop II One thing we’re not going to do is sell anything short—even though, as Bloomberg recently told us, the “shorts” cleaned up on SVB. All in, they pocketed $2 billion as “tech bros’” fav bank froze, then crashed. We contrarian dividend players tip our hats to these daring degenerates. They rolled the dice and things broke their way. Here’s the thing, though: big short-seller losses are far more common than wins. Because for every SVB there are two (or more!) tales like GameStop (GME) —a stock that needs no intro. You remember the story: Hedge funds were massively short GME (more than 100% of … [Read more...] about The Bank Mess Is Hiding Safe (And Cheap!) 6.6%+ Payouts