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Economic Impact Payments: What you need to know

The distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. Social Security beneficiaries who are not typically required to file tax returns will not need to file to receive a payment. Instead, payments will be automatically deposited into their bank accounts. However, some taxpayers who typically do not file returns will need to submit a simple tax return to receive the stimulus payment. When...

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How Generosity Can Save You Money

It pays to be generous. No really! And we’re not just talking about moral gains—the benefit is financial as well. Your charitable contributions can actually result in some serious tax breaks. And more contributions count as charitable than you might think! According to the IRS, there are eight different types of organizations that qualify. Some are more obvious, like non-profits and religious organizations.  But there are a few that you might not be aware of.   If...

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Showtime’s hit series Billions invites us into the gilded life of Bobby “Axe” Axelrod, a working-class kid from Yonkers who makes his billions running a hedge fund. The camera teases us almost erotically with the spoils of his success: the $63 million Hamptons house he buys on a whim, the his-and-hers private jets he and his wife take when just one jet isn’t enough, and the helicopter that drops his sons off at Little League practice. Axe is a guy who loves every...

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