Sen. Jerry Klein, R-Fessenden, now leads the Legacy Fund's advisory board after frustration with the panel's rollout of new in-state investment mandates for the $8.6 billion fund.
Q: My dad purchased an investment property in 2006 for $150,000. He put my name as joint owner with him. His intent was for me to become the sole owner of the property after his death. He died late last year. Prior to his death, he managed the property and did everything that had to do with the property. He took all the tax benefits and tax deductions having to do with it.
The changes affect the tax returns most Americans will submit in spring 2023.
DETROIT (AP) — After making a promise on Twitter, Tesla CEO Elon Musk has sold about 4.5 million shares of the electric car maker's stock, raising over $5 billion.
We have heard from a number of readers regarding the mention of elder abuse in a recent column, and one reader suggested reporting the abuser to the IRS.
Q: My wife’s youngest daughter is concerned about how we have set up our estate. We own three properties in Southern California and use two as rentals to supplement our retirement. All three properties are held in our living trust.
Q: We have two combined lots that we bought in 1984 for a total cost of about $50,000. A 100-year old cottage sits on one lot and the other lot is a landscaped garden with no structures. Over the past 37 years, we have spent quite a bit of money on landscaping, fencing, a new roof, a new garage and a complete gut job to the main floor and attic of the house.
Q: I divorced my husband two years ago. He signed a quitclaim deed giving me the house. There is a loan on the home, but my name was never on the loan.
Q: Two year ago, I relocated for my company and rented out my primary residence. My initial plan was for this to be temporary and to eventually move back into the property. However, my move is turning into a long-term assignment and I am planning on keeping the property as a rental.
Q: My mother put me on the deed to a house she purchased five years ago. Recently, she has decided that she wants to sell the house to buy a smaller house in a nearby town. The house has been her primary residence for the last five years, but not mine. I live three hours away.
President Joe Biden is getting ready to spend the autumn fighting for tax increases on the wealthy and corporations. Source by: Stringr
Here are some financial to-do’s to tackle this fall. Also, check out more of this week's best money tips from experts.
The Justice Department says the Treasury Department must provide a House committee former President Donald Trump's tax returns, apparently ending a long legal showdown over the records.
Sir Sean Connery wanted help with his taxes in exchange for backing the then-government's devolution campaign in 1997, a newly-published memo has revealed.
Most parents don't have to do anything to get the funds, but those who haven't filed tax returns or used the IRS's non-filer tool to receive stimulus checks must take action to get the payments.
The Trump organization and Allen Weisselberg, the company’s longtime chief financial officer, are expected to be charged with tax-related crim…
John McAfee, the outlandish security software pioneer who tried to live life as a hedonistic outsider while running from a host of legal troub…
A summer job is a great way for students to earn some extra money while building a resume for the future and learning new things about the working world. Typically, one of the hardest lessons for students to deal with is income tax. Working students may say, "Why is so much of my paycheck withheld? And who is this FICA dude?"
Welcome, students, to income taxes and how they affect the working world that you have joined. There are two main taxes on your earnings:
- Federal Income Taxes – These provide income for operations and services of the federal government.
- Payroll Taxes – These are taxes that fund Social Security and Medicare under the Federal Insurance Contribution Act (the "FICA dude" referenced above). The taxes you pay in go toward covering the eventual services you require. You pay half of this tax obligation (the withheld amount) and your employer kicks in the other...
You may soon receive a letter from the Internal Revenue Service (IRS), but unlike other notices from the agency, you might be thankful to receive this one. That’s because the IRS announced it has started sending letters to more than 36 million families who qualify for the new monthly child tax credit payments. In March, […]