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Friday January 17, 2020

News

Personal Planner - Trusts for Creative Spenders
Trusts for Creative Spenders
Trusts can be quite useful for protecting children. However, for some children, the trust serves an additional function: It protects the principal from being rapidly spent by a child. These trusts...
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Savvy Living - Does Medicare Cover Counseling Services?
Does Medicare Cover Counseling Services?
Does Medicare cover outpatient counseling services for its beneficiaries? Since the death of my sister last year, I have struggled with depression and anxiety and would like to get some help. Yes,...
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Washington News - Gig Economy Tax Center Launched
Gig Economy Tax Center Launched
In IR-2020-4, the Service announced the new Gig Economy Tax Center on IRS.gov. With the explosive growth of ride-sharing, home rentals and other gig businesses, millions of taxpayers have gig income and new tax obligations. Ride-sharing, renting your property, selling goods online, renting equipment, providing creative services or freelance work are all parts of the new gig economy. Gig workers must know how to keep records, pay estimated taxes, prepare to file and then file their required tax forms. The Gig Economy Tax Center covers many types of work. IRS Commissioner Chuck Rettig notes, "The IRS developed this online center to help...
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