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HOW LAWSUIT SETTLEMENTS ARE TAXED?

HOW LAWSUIT SETTLEMENTS ARE TAXED?

Many plaintiffs win or settle a lawsuit and are surprised they have to pay taxes. Some don't realize it until tax time the following year when IRS Forms 1099 arrive in the mail. A little tax planning, especially before you settle, goes a long way. It's even more important now with higher taxes on lawsuit settlements under the recently passed tax reform law.

A Remainder on what Estimated Tax Payments are

A Remainder on what Estimated Tax Payments are

Certain taxpayers must make estimated tax payments throughout the year. Taxpayers must generally pay at least 90 percent of their taxes throughout the year through withholding, estimated tax payments or a combination of the two. If they don’t, they may owe an estimated tax penalty. 

G20 meeting and more tariffs on China, deal with Mexico

 G20 meeting and more tariffs on China, deal with Mexico

Since two days of trade talks last month in Washington ended in a stalemate, Trump has repeatedly said he expected to meet Chinese President Xi Jinping at the June 28-29 summit in Osaka, Japan. China has not confirmed any such meeting.

Rare Metals and US-China Trade War

Rare Metals and US-China Trade War

Rare earth minerals and elements are necessary components of tech and defense tools, including smartphones, LED lights, wind turbines and nuclear rods. And their critical role in modern manufacturing has turned them into the latest lightning rod in the trade war between China and the U.S.

IRS spotlights expanded tax benefits for depreciation and expensing

IRS spotlights expanded tax benefits for depreciation and expensing

The Internal Revenue Service is highlighting tax reform changes that impact depreciation and expensing for nearly every business. In some cases, these changes allow small business owners and the self-employed to write off the cost of machinery, equipment and other property more quickly.

How a Chinese venture in Venezuela made millions while locals grew hungry

How a Chinese venture in Venezuela made millions while locals grew hungry

(Reuters) Venezuela and China agreed to hundreds of projects to kickstart growth in the South American country. After billions in investments, however, little materialized. A $200 million rice plant illustrates the graft and incompetence that opponents say crippled development by Venezuela's leftist regime.

South America's Largest Solar Farm, Chinese Investment

South America's Largest Solar Farm, Chinese Investment

At a time when Trump is doubling down on fossil fuels and withdrawing the United States from global partnerships, Chinese President Xi Jinping’s sprawling “Belt and Road” initiative aims to put Chinese companies and innovation at the center of infrastructure development worldwide, including next-generation power sources.