Democratic presidential candidate Michael Bloomberg — whose wealth is estimated at $60 billion — says his tax return is probably thousands of pages long and he can’t use TurboTax to finish it. Most taxpayers don’t deal with such complications. While preparing taxes can be a headache and may involve a lot of pages, using online
Personal Finance
James Gorman, chief executive officer and chairman of Morgan Stanley, speaks during the International Economic Forum Of The Americas (IEFA) in Montreal, Quebec, Canada, on Wednesday June 12, 2019. Photographer: Christinne Muschi/Bloomberg via Getty Images Bloomberg Financial services firms are moving out of their comfort zone. Some of the most recognizable names on Wall Street,
Democratic presidential candidate Sen. Bernie Sanders (I-Vt.) speaks during a campaign event on February 17, 2020 in Richmond, California. (Photo by Justin Sullivan/Getty Images) Justin Sullivan When Sen. Bernie Sanders, I-Vt., proposed legislation last year to tax stock trades, he decried the “recklessness of Wall Street billionaires” and cited a goal of building an economy
Getty Images The IRS will soon start make house calls to high-income individuals who didn’t submit a tax return. Starting this month, the agency will send its revenue officers to visit people with income in excess of $100,000 and who failed to file Form 1040 in 2018 or in previous years. “These visits shouldn’t come
skynesher | E+ | Getty Images If you’re like many Americans, you’re carrying a balance on your credit cards. And the candidate you choose in November for president could have an affect on how well you grapple with those debts. The latest numbers from the Federal Reserve show that credit card balances climbed to $930
Tetra Images | Getty Images If you want to get your refund as quickly as possible, you’d better hustle that tax return out the door. The IRS has received 28.6 million tax returns for the 2019 tax year as of Feb. 7, and it anticipates receiving more than 150 million returns in total. Filers are
Jhanilka and Anthony Hartzog say they could have saved an extra $5,000 or $6,000 if they’d hired an accountant in their first year. Source: Jhanilka and Anthony Hartzog If only you could go back in time, but with today’s 20/20 vision. Starting a business is a little like that. You’re fired up with enthusiasm for
Even though it’s still early to file your taxes, the sooner you crunch the numbers on your return, the better off you could be. The IRS issued more than 111.8 million refunds for the 2018 tax year, with taxpayers receiving an average payment of $2,869. This year could bring an even bigger windfall, for those
Democratic presidential candidate Mike Bloomberg gives the thumbs up as he embarks on his bus after speaking to supporters at the Viva Villa restaurant in San Antonio, Texas on January 11, 2020. Mark Felix | AFP | Getty Images Mike Bloomberg released plans to shore up Americans’ retirement on Sunday, promising to increase Social Security
Even though February isn’t known as a big sales month for cars, you’ll likely find some decent deals if you head to the dealership over this three-day holiday weekend. While some advertised specials may be pegged to Presidents Day, many deals last for the month. And with more of last year’s models still hanging around
Adrian Peterson #26 of the Washington Redskins looks on after being tackled by the Philadelphia Eagles during the first half at FedExField on Dec. 30, 2018 in Landover, Maryland. Scott Taetsch | Getty Images Sport | Getty Images Adrian Peterson is heading to arbitration against Morgan Stanley Wealth Management over an investment dispute, the latest
Goodboy Picture Company A hot tax-advantaged opportunity is making the rounds among financial advisors. Just make sure you don’t overlook the risks. The Tax Cuts and Jobs Act, which went into effect in 2018, established so-called qualified opportunity zones — economically disadvantaged areas across the country. Funds specializing in qualified opportunity zones allow people to