The new IRS tax rules might impact you, especially if you frequently use payment services like Venmo or Paypal. All common digital payment services, such as Venmo, Paypal, Square, Cash App, and Zelle are changing, starting on January 1, 2022. Obviously, if you're an independent vendor who accepts
Hamer v Sidway: the Benefit-Detriment Theory
The law is constantly evolving. Along with the codes passed by legislative bodies and administrative agencies, we adhere to principles derived from our common law tradition. In our common law system, established principles have significant weight, but they are not necessarily binding. This is, in
Your Children are Worth Less (as the Child Tax Credit is Dropping to $1,000)
There are speculations the child tax credit is dropping to $1,000 by the year 2025. For years, the credit has been in effect to provide a monetary value for parents tasked with taking care of their kids -- they are the future after all. Additionally, kids are one of biggest drivers of the
Billionaires, Love Them or Tax Them?
There are 614 billionaires in the US and 2,755 billionaires in the world. Together they have over $13 trillion worth of wealth. The average net worth of an American, removing the wealthiest, is around $120,000. The billionaires in the US alone, control $5 trillion. According to Forbes, the top 1%
Underhill v United States Trust Company: An Introduction to Trusts
A trust is a legally recognized arrangement in which property is held by one party (referred to as the trustee) for the benefit of a different party (referred to as the beneficiary). Trusts are frequently established in wills in order to ensure that property is adequately managed and controlled
Tax Loopholes to Keep in Mind this Season
Tax laws in the United States are complex and it's one of the many reasons there are as many tax loopholes that are. However, it's also why myriad taxpayers wind up paying more money than they need to and why it's advisable to enlist the services of an experienced financial advisor to maximize your
Proposed Limits on Tax Breaks for the Tech Industry
It's no secret that the tech industry gets some very large tax breaks, especially for startups and small businesses. However, some feel that the current 100% write off is too generous, and needs to be rolled back in order to fund other parts of the upcoming $3.5 trillion spending bill. As a way to
Murphy v Financial Development Co: A Lesson in Due Diligence
No one buys a home believing they'll default on the loan; it's always a possibility -- and indeed, anyone who's lived through the housing crisis in the last decade, knows it's a very real possibility -- but it's a nebulous considering it only happens when a confluence of factors occur: loss of job,