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Investment Fees Are Not Deductible But Borrow Fees Are
(Forbes) - The Tax Cuts and Jobs Act suspended “certain miscellaneous itemized deductions subject to the two-percent floor,” which includes “investment fees and expenses.” However, the new law retained “other miscellaneous deductions” not subject to the two-percent floor, including short-selling expenses...
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Lesson From The Tax Court: An 'Origin of the Claim' Test For §104(a)(2) Exclusions
(TaxProf Blog) - Summary Op. 2018-36 (July 12, 2018) involves taxpayers seeking to exclude a settlement payment under §104(a)(2), the section that allows taxpayers to exclude from gross income the amount of damages received because of personal physical injury or physical illness.
What to Do if You Lose Your Two-factor Phone
(How-to-Geek) - Many websites send security codes to your phone number to confirm your identity when signing in. You may use apps that generate security codes on your phone, too. But what happens if you lose your phone?
The Last Blockbuster Video Standing is in Bend, Oregon
(Quartz) - Two other remaining locations, in Alaska, are closing soon, the owners announced on July 12. At its peak in the mid-2000s, Blockbuster was a behemoth that had 9,000 stores worldwide.
Tax Credit for Buying Tesla Cars to be Cut from $7,500 to $3,750
(CPA Practice Advisor) - Tesla, which had earlier refused to say how close it was to the 200,000 mark that triggers the first cut to the $7,500 credit, revealed on its website that it had reached that number.
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