The holiday season is upon us! If you want to show your true love the spirit of the holidays, you could buy all of the items in the "12 Days of Christmas" - but it's going to cost you this year.
James Howell, a tech geek in the UK, made the painful realization that he had literally thrown away $9 million when he tossed out his computer hard drive. That hard drive stored 7,500 in bitcoins - an alternative currency that recently soared in value. But Howells' folly is a good opportunity to talk casualty loss deduction: when can bad luck result in a tax deduction?
Who was the big winner of this year’s expanded Black Friday money haul? Macy’s,, J.C. Penney? How about the U.S. economy, Walmart (despite protests), or even Bitcoin as it goes mainstream? What about consumers who braved crowds to buy in brick and mortar stores? Nope, arguably the biggest winner was state tax coffers. After [...]
Days after filing court documents to keep their version of the Beastie Boys' song, "Girls" in their commercial, Goldieblox has announced that they're pulling the song from the ad. What's driving the change? The company claims it's out of respect for Adam Yauch's request that his music not be used in advertising.
The California tax man—the State Board of Equalization—says you better watch out. In a catchy interactive news release, the Golden State is trying to make its coffers swell with holiday tax revenues. What? You say you’re trying to buy online only from merchants that don’t collect sales tax? No matter. You still owe use [...]
Advice from Forbes for building your wealth, including stock and mutual fund picks, nine formulas to make financial decisions and 365 tips to make 2014 a prosperous year.
What would you give up for a new car? Would you sell a kidney? One man has made it clear that he would... and I ponder the tax consequences.
If you've found yourself humming along to that catchy song, "Girls" from the Goldieblox ad, you're not alone: the video of their latest ad has gone viral with over 8 million views. The Beastie Boys, who penned the original version of the song are crying foul. Now, the courts have been asked to weigh in.
Aaron Carter, little brother of the Backstreet Boys' Nick Carter, burst onto the spotlight just over ten years ago. Today, facing more than $2 million in debt, he's ready to put the past behind him and move on. At age 25, can he make a comeback?
If you cheat on your taxes, file late or commit some other offense, an explanation might help. You don’t want to say your dog ate your tax return or even your receipts. There are many tax excuses, but some work better than others. Of course, there’s no complete excuse to get you out of paying tax entirely. Still, [...]
Think you always have a right to due process? Think again. Under some circumstances, the federal government believes that it has the right to seize your property without notice and without a requirement for a speedy hearing. Taxpayers in Michigan, with the help of the Institute for Justice, are fighting back.
Can a dog with an MBA deduct his tuition? Most people can’t deduct the cost of getting an MBA on their taxes. The IRS says it’s because it qualifies you for a new position. How about dogs when they get MBAs? As Professor Paul Caron notes in Dog Earns Online MBA (For $7,300), Pete the dog [...]
Diego Maradona, football's "Golden Boy" has been served with papers in Italy allowing tax officials to freeze his assets in an effort to pay off tens of millions of dollars in outstanding tax liabilities.
For the 12 million or so taxpayers on extension, October 15 is just around the corner. That's the deadline to file and pay taxes for the tax year 2012 for taxpayers who timely filed for a six month extension in spring. But with the shutdown still on, does the deadline still apply? Is it really business as usual?
The biggest loser in the Silk Road arrest? Probably Bitcoin. The biggest winner may be the IRS, although right now the FBI must be feeling pretty good too. For the last two years, an alleged drug kingpin who called himself the Dread Pirate Roberts could do what he wanted in secret. Now he is in custody and his Silk Road [...]
Last year, three tax preparers sued the Internal Revenue Service to prevent the agency from pushing ahead with new regulations. The three were successful - and the IRS filed an appeal. Yesterday, the IRS had the chance to tell a panel of judges why the regulations are appropriate. Were those oral arguments convincing?
As Russia's economy slows down, its leaders are searching for new ways to raise revenue. Yelena Mizulina, the head of the Committee on Family, Women and Children in the Russian Parliament, thinks she has the answer: increase the tax on divorce.
It’s hard to miss the string of IRS video hits to surface over the past year. You don’t even have to read, just watch them. After the stink over IRS Tax Dollars Spent Making Star Trek Video, then there was Step Up IRS? IRS Dance Video Even Worse Than Star Trek. Sure, they are clunky, but it’s the price tag that most [...]
Robert Fernandes took his issue with his school tax bill straight to the tax collectors - as well as $7,143 in single dollar bills. Was he justified?
This week our economist Kyle Pomerleau has a new study on how individual tax rates have a big impact on U.S. businesses and economic growth. As Kyle points out, the number of small firms that are not subject to the corporate income tax has been growing significantly in the last 30 years, so much so that the majority of business income in the U.S. Show More Summary