Personal Finance

First-year challenges of TCJA implementation require broader penalty relief

As the first filing season that implements the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, moves forward, many taxpayers are becoming frustrated to learn that their refunds are smaller or they owe money for the first time. The substantial uncertainty surrounding the TCJA’s implementation and the updated federal tax withholding [...]

By |2019-03-18T13:31:39+00:00March 18th, 2019|Personal Finance|0 Comments

Hospital Drug Prices Are Up to 7 Times Greater Than Medicare Pricing

A new study shows something many healthcare patients know all too well: hospitals are charging significant premiums on some of the most-used prescription drugs. In a new study of 34 hospital systems, Wall Street firm AllianceBernstein found that the average drug prices in a hospital are three to seven times higher than what Medicare charges [...]

By |2019-02-18T13:51:24+00:00February 18th, 2019|Personal Finance|0 Comments

Identity protection PIN program expands

The IRS is expanding to seven additional states its voluntary programfor taxpayers who wish to obtain identity protection personal identification numbers (IP PINs) and are not currently victims of tax return identity theft. The pilot program originally involved Washington, D.C., Florida, and Georgia. IP PINs will now be available in seven more states: California, Delaware, Illinois, [...]

By |2019-02-11T16:55:29+00:00February 11th, 2019|Personal Finance|0 Comments

Cryptocurrency Exchange Locked Out of Funds After CEO’s Death

The cryptocurrency exchange QuadrigaCX owes its customers $250 million in Canadian dollars. Unfortunately, the exchange can't access any of the funds because its leader is dead and no one knows the passwords to his computers. A Canadian cryptocurrency exchange can no longer access customer funds because the company's CEO is dead and no one knows [...]

By |2019-02-04T13:35:34+00:00February 4th, 2019|Personal Finance|0 Comments

10 planning tips for starting 2019 right

It’s never too late for your clients to start working on their personal finances -- but it’s never too early, either, and the earlier they start in, the longer they’ll benefit. With that in mind, a number of members of the American Institute of CPAs’ PFP Executive Committee and its Personal Financial Specialist, or PFS, [...]

By |2019-01-21T14:33:34+00:00January 21st, 2019|Personal Finance|0 Comments

The Top Tax Court Cases Of 2018: When Is A Legal Settlement Tax-Free?

What. A. Year. When tax geeks arose from their slumber on January 1, 2018, we were greeted by a strange and unfamiliar world. Gone were personal exemptions, Section 199, and 50% bonus depreciation. In their place were a doubled standard deduction, Section 199A, and 100% bonus depreciation. These changes, in addition to countless others, were [...]

By |2019-01-15T19:26:28+00:00January 15th, 2019|Personal Finance|0 Comments