The Consolidated Appropriations Act, 2021, ushered in 2 new tax changes that will boost donors’ tax deductions for charitable giving this year. But while folks can give more to charity at a lower net cost, penalties have also increased for overstating the value of charitable gifts. The first change is an above-the-line tax deduction for...
You still have time! Since this article was published, tax deadline has been extended to May 17, 2021, and so has the ability to contribute to your IRA. Taxpayers may be able to claim a deduction on their 2020 tax return for contributions made to their IRA through April 15, 2021. There is no longer...
2021 will be a year of continued uncertainty. Many risks exist to economic vitality and social stability besides COVID that investors should be aware of. Here are some trends to keep your eye on moving forward. 1. The vaccination “corona”-coaster continues. Once the vaccine is readily available, who gets it, who doesn’t, and will it...
Melvin Capital lost nearly $3 Billion this week from pulling out of a position in GameStop (GME). How is it that the internet and casual day traders were able to force a renowned hedge fund to suffer such an enormous loss? It all starts with the concept of a short squeeze…… Not unheard of, but...
GoFundMe was created as a platform for individuals to bank roll their personal causes. Although there are several other crowdfunding platforms out there, they focus more on funding for the creation of a business entity or a tangible product. Unlike its predecessors, GoFundMe focused on making financing available for personal needs, such as medical expenses...
