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Huawei Founder Sees ‘Live or Die Moment’ From U.S. Uncertainty

Huawei Founder Sees ‘Live or Die Moment’ From U.S. Uncertainty

Ren Zhengfei warned in an internal memo the company is at a “live or die moment” and advised underutilized employees to form “commando squads” to explore new projects. Workers who fail will have their salaries cut every few months and may lose their jobs, the billionaire said yesterday.

IRS Is Tracking Down 10,000 Crypto Owners to Pay Back Taxes

IRS Is Tracking Down 10,000 Crypto Owners to Pay Back Taxes

The IRS in 2014 classified all virtual currencies as property for tax purposes, meaning the assets -- much like a home -- can be sold at a profit and trigger tax implications. Taxpayers who haven’t been notified by the IRS and may have underpaid or avoided taxes for cryptocurrency transactions still could seek some relief by coming forward before the IRS finds them.

Should you max out your 401(k) or IRA at the beginning of the year?

Should you max out your 401(k) or IRA at the beginning of the year?

The idea is that more time in the market can potentially lead to higher returns over time. This is especially true for a Roth IRA, an investment account that is funded with money that has already been taxed, because its main benefit to investors is tax-free growth.

Post TCJA Bonuses Were Mostly a Timing Shift

Post TCJA Bonuses Were Mostly a Timing Shift

Rather than a secular upward shift in workers’ compensation, private-sector bonus payments fell substantially in the first quarter of 2019, continuing a trend that began in the fourth quarter of last year. this is the classic pattern of a tax-motivated timing shift.

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.