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Betting on the Super Bowl? Don’t Forget About Taxes

CPA Practice

States with legal sports betting Legal sports betting, including online betting, has expanded across the United States in the last few years. Supreme Court decision that allowed states to decide whether to legalize sports betting. And income from gambling winnings is taxable. That’s mainly because of a 2018 U.S.

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$1.5 Billion in Unclaimed Tax Refunds from 2019 Set to Expire in July 2023, Says IRS

CPA Practice

27, 2023, providing legal guidance on claims made by the postponed deadline. By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC).

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Estate Planning Tips: Avoid the Mistakes of Aretha and Prince

CPA Practice

After five years of legal wrangling and a two-day trial, a jury needed an hour to decide that a will found in her couch reflected her final wishes. He called James Brown “a negative example of what can happen if you don’t sit down and come up with a plan, because it led to years of fighting and family strife and legal fees.”

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Legal analysis: Implications of state tax exclusion of overtime wages for employers and employees

ThomsonReuters

While there are over 20 local jurisdictions with municipal income taxes, he noted that the law does not exclude overtime wages from municipal occupational license tax. Individual state income tax usually follows the federal adjusted income, Wertz said, and the exclusion creates a modification.

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Where the Republican Presidential Hopefuls Stand on Taxes, Other Economic Issues

CPA Practice

Ron DeSantis, former Vice President Mike Pence, former United Nations Ambassador Nikki Haley, South Carolina Sen. senator, South Carolina Tim Scott Social Security As a member of the House in 2012, Scott voted for a proposal to raise the retirement age for Medicare. Tim Scott, former New Jersey Gov. Doug Burgum.

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