Tax Laws

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Should You Use Your Credit Card to Tip?

Tax and Bookkeeping Implications

You have two options for tipping at a restaurant: tipping in cash or including the tip on your credit card. (Notice that there is no third o...

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Tax Smackdown for Foreign Banks

New IRS Powers Make Banks and Expats Squirm

Does the acronym FATCA (Foreign Account Tax Compliance Act) sound like “fat cat” to you? It does to us, especially as this law was created t...

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Q&A

Asked by rlaughlin

If new tax plans are adopted in 2017, when would they actually be implemented? 2017 or 2018?

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Answers 1

Answered by Stephen Hartel
MBA, AIF in Denver, CO

There have been a few times when a tax law was enacted retroactively, but almost always such laws are forward looking. Changes this year to tax laws would almost certa...

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Asked by an anonymous user

Socials Security Form SSA1099 shows money withheld for part B insurance. Can.this amount be claimed along with other medical expenses?

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Answers 1

Answered by Danielle Kunkle
Vice President

Yes your Medicare insurance premiums can be included as part of the medical expense deduction, but just remember your eligibility depends on earnings and spending. You...

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You Owe Taxes, But Can't Pay The Bill

How to Minimize the Damage from Owing the Internal Revenue Service

Surprise! The Tax Cuts and Jobs Act may cause many changes in your tax situation. Instead of enjoying a tax refund this year, you may disco...

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Tax Impact Of The Affordable Care Act

How ObamaCare Can Affect Your Taxes

The Affordable Care Act (ACA, or ObamaCare if you prefer) has probably had a significant impact on your health insurance. Did you realize th...

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Insurance Taxes Health Insurance Tax Laws Taxes

Q&A

Asked by rleeedens

I am drawing Social Security and working in Russia tax-exempt. Do I still pay taxes on Social Security?

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Answers 1

Answered by MoneyTips Writing Staff
Financial Adviser in Los Angeles, CA

This article may help you determine the answer you need: https://www.moneytips.com/are-my-social-securi ty-benefits-taxable

Social Security Tax Laws Taxes Federal Income Taxes

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Asked by an anonymous user

On Form 8949, how do I enter a "corporate action (adjustment)" from the 2011 uncovered 10-for-1 reverse stock split of Citigroup Inc?

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Answers 1

Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC

Hi Anonymously. Can you elaborate on "no shares involved" and why "taxes were paid on the amount"? With a stock split (also reverse split) itself, taxes are genera...

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