Paula Span reports on the sharp rise in unmarried partners over the age of 50 in recent years. This trend partly reflects the sheer size of the baby boom cohort, as well as its rising divorce rate. But attitudes have shifted, too. “People who’ve divorced have a more expansive view of what … Continue reading
Patricia Cohen reports on President Trump’s proposal to overhaul the alternative minimum tax. At its most basic, the A.M.T.’s goal is simple: to ensure that the richest taxpayers were not able to skip out on paying altogether. A version was introduced in 1969 after Congress discovered that 155 taxpayers with taxable … Continue reading
Ben Steverman reports on the recent trends on life expectencies in the United States. Results from a recent study show that the poorest fifth of 50-year-old American men can now expect to live just past 76, six months shy of the previous generation. The richest 50-year-olds should make it almost to … Continue reading
Paul Sullivan reports on the major impact family wealth management offices can have on advancing medical research. For medical ethicists, wealthy people coming in and funding research to benefit their children or relatives, however, is a complicated proposition.
David Wendler, who heads the research ethics section in the bioethics department … Continue reading
Neil Irwin reports that if the Trump administration’s tax plan were to become law, in the future a whole lot of people may just become corporations. That’s because of a huge loophole implied by the broad tax ideas the administration recently released. Unless revised in actual legislation, the plan would give millions … Continue reading
Robert J. Samuelson reports on the gap between Americans wants and needs from the government versus our willingness to be taxed. This is especially relevant now because the number of older Americans, who are the largest beneficiaries of federal spending, is rising rapidly. Unless we’re prepared to make sizable spending … Continue reading
Alexander Bove Jr. reports on the challenges of proper asset protection, particularly for married couples and families. Often times even the most brilliant and successful businessmen and women do little or nothing to protect their billions. The two most plausible explanations for this are that one, the advice from their family … Continue reading
Anna Goldfarb reports on the necessity of planning before moving in with a partner; however, it is often overlooked by couples. Most couples don’t take the time to walk through the financial and legal implications of cohabitation beforehand, which according to leading legal and financial experts, is a major mistake and a … Continue reading
Daisuke Wakabayashi reports on the creators behind artificial intelligence programming in a diverse set of professions. Some companies are deploying artificial intelligence in the workplace and asking their employees to train the A.I. to be more human. Wakabayashi spoke with five professionals who understand the strengths (and weaknesses) of artificial intelligence … Continue reading
President Donald Trump, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn released a tax reform proposal on April 26, 2017.
There are several current articles discussing the new tax proposal:
… Continue reading
Colin Moynihan reports on a recent decision made by the United States Tax Court on the gap between the estimated and actual value of artwork.
In February, Judge Joseph H. Gale ruled that the expert had most likely placed a “lowball” estimate on that painting and a second work so
… Continue reading
Ilyce Glink and Samuel J. Tamkin report on the costs and benefits associated with becoming a landlord of a formerly primary residence as additional means for retirement.
Living in a home that you own is quite different than becoming a landlord of your former primary residence. For that, you need to … Continue reading
T.R Reid reports on the complexity of filing taxes in the United States, demonstrating that it could be much simpler.
Americans will spend more than six billion hours this year gathering records and filling out forms, just to pay their taxes. They will pay some $10 billion to tax preparation … Continue reading
Alexandra Stevenson and Kate Kelly report on Dawn Fitzpatrick becoming the chief investment officer of Soros Fund Management, which manages around $26 billion of Mr. Soros’s personal and family wealth. She is now the head of a family office for one of the finance world’s most famous investor, facing her … Continue reading
Robert Frank reports that the Russian billionaire Dmitry Rybolovlev’s jet and yacht were in some places at times when President Trump or members of his family were in the same area, according to tracking data. Investigations of potential ties between the president and Russia have drawn attention to location-tracking sites.… Continue reading