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Top related persons:
Taylor Swift - 1 Tommy Lucas of - 1 Moisand Fitzgerald Tamayo - 1 influencers - 1 Gen Zers - 1 Josh Youngblood - 1 Roth - 1 — - 1
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Tommy Lucas of Florida millennials Dallas
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TicketMaster - 1 eBay - 1 Taxpayers - 1 Forbes - 1 Youngblood - 1 Finance - 1 IRS - 1

Search resuls for: "President Of Shenkman Wealth Management"


3 mentions found


☆ If you resold a Taylor Swift ticket for a profit, prepare to pay taxes. Here's what to know
  + stars: | 2023-10-02 | by ( Ana Teresa Solá Kate Dore | Cfp | Ana Teresa Solá | ) www.cnbc.com   time to read: 1 min
Taylor Swift fans forked out an average $2,183 for a resold ticket to a concert on the superstar's Eras Tour, according to resale research site TicketIQ. Now, ticket resellers may owe taxes on profits made during what may turn to be — for them, at least — a rather "Cruel Summer." Ticket profits have always been taxable, but the new IRS reporting threshold for business transactions on third-party platforms, such as TicketMaster or eBay , is now a single payment of $600, down from 200 transactions worth an aggregate of over $20,000. Taxpayers will have to prepare as the law takes effect this coming season. "Starting at the beginning of next year, you want to make sure you know how to report this income," said certified financial planner and enrolled agent Tommy Lucas of Florida-based Moisand Fitzgerald Tamayo.
Persons: Taylor Swift, Tommy Lucas of, Moisand Fitzgerald Tamayo Organizations: TicketMaster, eBay, Taxpayers Locations: Tommy Lucas of Florida
☆ The battle between tax pros and social media: Many apps offer unreliable tax advice, experts say
  + stars: | 2023-10-02 | by ( Kate Dore | Cfp | Winnie Sun | ) www.cnbc.com   time to read: +1 min
With consumers turning to social media for financial information, tax advisors are often battling misinformation spread by influencers on popular platforms like TikTok. Nearly 80% of millennials and Gen Zers have used social media for financial advice, according to a 2023 Forbes Advisor survey of more than 1,000 American adults. Some 32% of respondents cited TikTok as a preferred platform for financial information. "It's a wealth of horrible information," said Josh Youngblood, an enrolled agent and owner of The Youngblood Group, a Dallas-based tax firm. "We can almost always tell when there is some new TikTok trend because a lot of us start getting the same questions from our clients," he said.
Persons: influencers, Gen Zers, Josh Youngblood, Roth, —, Youngblood Organizations: Forbes, Youngblood, Finance, IRS Locations: millennials, Dallas
☆ Op-ed: Here are 3 year-end strategies for high-net-worth families to consider
  + stars: | 2022-11-07 | by ( Jonathan Shenkman | President Of Shenkman Wealth Management | Liz Sessler | ) www.cnbc.com   time to read: +3 min
A donor is eligible for an immediate tax deduction when contributing cash, securities, or other assets to a DAF. watch nowThis strategy addresses the fact that charitable contributions are only tax-deductible for those who itemize their deductions. Since the gifted assets are "frozen" at today's lower values, they use up less of the federal lifetime gift tax exemption. At current levels, a married couple with an estate above $24.12 million, or $10.98 million after 2025, may be hit with federal estate tax. That means an investor can gift each person $16,000 this year gift tax-free.
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