PROPHASE LABS, INC. ANNOUNCES RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS ARISING FROM $1.2 MILLION UNDERSTATEMENT OF LOCAL TAXES

DOYLESTOWN, PA, Aug. 14, 2018 (GLOBE NEWSWIRE) — ProPhase Labs, Inc. (NASDAQ: PRPH, www.ProPhaseLabs.com), a vertically integrated and diversified branding, marketing and technology company with deep experience in over-the-counter dietary supplements and remedies (“ProPhase” or “Company”), announced today that the Company’s management, after consultation and discussions with EisnerAmper LLP, the Company’s independent registered public accounting … Continue reading “PROPHASE LABS, INC. ANNOUNCES RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS ARISING FROM $1.2 MILLION UNDERSTATEMENT OF LOCAL TAXES”

Consumers are turning more pessimistic about wages, stocks, home prices, taxes

Getty Images People walk through the Oculus transportation hub and shopping mall in lower Manhattan on July 27, 2018 in New York City. A monthly survey conducted on consumer expectations showed a notable pessimistic trend in July. The New York Fed’s survey of consumer expectations — based on a panel of 1,300 … Continue reading “Consumers are turning more pessimistic about wages, stocks, home prices, taxes”

Economic Report: Consumers turning more pessimistic about wages, stocks, home prices, taxes

Getty Images People walk through the Oculus transportation hub and shopping mall in lower Manhattan on July 27, 2018 in New York City. A monthly survey conducted on consumer expectations showed a notable pessimistic trend in July. The New York Fed’s survey of consumer expectations — based on a panel of 1,300 … Continue reading “Economic Report: Consumers turning more pessimistic about wages, stocks, home prices, taxes”

Grow: You could be in for a shock if you’re one of 30 million people who will owe taxes next year

Your employer may not be withholding enough from your paycheck to cover your federal tax bill for this year. A new government report found that’s the case for more than one in five taxpayers, so they’ll all owe the IRS money next April when they file 2018 tax returns. Why will so many people owe the IRS? … Continue reading “Grow: You could be in for a shock if you’re one of 30 million people who will owe taxes next year”

Retirement Weekly: I need help sorting out the taxes on my IRA withdrawal

Q.: In your answer about paying for a Roth conversion with IRA money, you mentioned that a 10% penalty can apply to converted money. Why is that? — Lisa A.: Lisa, To continue reading, … Continue reading “Retirement Weekly: I need help sorting out the taxes on my IRA withdrawal”

What Does Filing As Head Of Household Mean For Your Taxes?

There is no tax filing status that confuses taxpayers more than that of head of household. When you hear the term, what comes to mind? The breadwinner? The main source of household income? To the IRS, it’s not that simple. There are many rules that are a part of filing your taxes under head of … Continue reading “What Does Filing As Head Of Household Mean For Your Taxes?”

The Wall Street Journal: Yes, you owe taxes if your wife embezzles money

Rick Jacobsen’s wife embezzled nearly $500,000. After her conviction, the Internal Revenue Service asked him to pay more than $100,000 of taxes due on her theft. Yes, embezzled funds are taxable, and Mr. Jacobsen and his wife had filed joint tax returns. But Mr. Jacobsen fought back, arguing his own case before a Tax Court … Continue reading “The Wall Street Journal: Yes, you owe taxes if your wife embezzles money”

EBITDA – Earnings Before Interest, Taxes, Depreciation and Amortization

Loading the player… What is ‘EBITDA – Earnings Before Interest, Taxes, Depreciation and Amortization’ EBITDA stands for earnings before interest, taxes, depreciation and amortization. EBITDA is one indicator of a company’s financial performance and is used as a proxy for the earning potential of a business, although doing so can have drawbacks. EBITDA strips out … Continue reading “EBITDA – Earnings Before Interest, Taxes, Depreciation and Amortization”

MarketAxess Announces Monthly Volume Statistics for July 2018

NEW YORK, Aug. 02, 2018 (GLOBE NEWSWIRE) — MarketAxess Holdings Inc. (Nasdaq: MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced total monthly trading volume for July 2018 of $124.5 billion, consisting of $64.8 billion in … Continue reading “MarketAxess Announces Monthly Volume Statistics for July 2018”

BlackRock profit and revenue rise above expectations, boosted by fee growth and lower taxes

BlackRock Inc. BLK, +0.08% reported a second-quarter profit and revenue that rose above expectations, boosted by increased fees and a lower tax rate. The stock was little changed in light premarket trade. … Continue reading “BlackRock profit and revenue rise above expectations, boosted by fee growth and lower taxes”

The Wall Street Journal: Over 300,000 Americans to be denied a passport because of unpaid taxes

At least 362,000 Americans with overdue tax debts will be denied new or renewed passports if they don’t settle these debts, the Internal Revenue Service says. Recently IRS officials have provided new details on the enforcement of a law Congress passed in late 2015. It requires the IRS and State Department to deny passports or … Continue reading “The Wall Street Journal: Over 300,000 Americans to be denied a passport because of unpaid taxes”

MarketAxess Announces Monthly Volume Statistics for June 2018

NEW YORK, July 03, 2018 (GLOBE NEWSWIRE) — MarketAxess Holdings Inc. (Nasdaq:MKTX), the operator of a leading electronic trading platform for fixed-income securities, and the provider of market data and post-trade services for the global fixed-income markets, today announced total monthly trading volume for June 2018 of $147.8 billion, consisting of $81.9 billion in U.S. … Continue reading “MarketAxess Announces Monthly Volume Statistics for June 2018”

California Shields Big Soda From Local Taxes

SAN FRANCISCO—State lawmakers banned all local taxes on groceries for 12 years in California on Thursday, a major victory for the soda industry, which used the state’s ballot-initiative system to force legislators’ hands. The ban was signed into law by Gov. Jerry Brown after it was rushed through the state legislature. Lawmakers said they had … Continue reading “California Shields Big Soda From Local Taxes”

NerdWallet: Don’t be caught off guard by hidden taxes in retirement

This article is reprinted by permission from NerdWallet. Your taxes in retirement may be a lot more complicated than taxes while you’re working. Social Security checks may or may not be taxed, depending on your income. You’ll pay federal income taxes on most retirement plan withdrawals, but additional state taxes depend on where you live. Tax … Continue reading “NerdWallet: Don’t be caught off guard by hidden taxes in retirement”

Is it ever a good idea to pay Roth conversion taxes with IRA money?

Q. Hi, Dan: Very informative column making the case for not paying Roth IRA conversion taxes with money from one’s IRA. For those like myself with no money outside their IRAs, I still see some reasons for paying the taxes with IRA money: Taking advantage of low tax rates, in my case, 12%, reducing one’s … Continue reading “Is it ever a good idea to pay Roth conversion taxes with IRA money?”

Supreme Court rules states can require online collection of sales taxes

The Supreme Court ruled Thursday that states have the right to collect sales taxes on internet companies that don’t have an in-state physical presence. The ruling was 5-4. The Retail Industry Leaders Association said the court’s decision “would give every retailer the opportunity to compete on a level playing field without government’s thumb on the … Continue reading “Supreme Court rules states can require online collection of sales taxes”

Forgot to File Your US Crypto Taxes in April? If You Are Living Overseas, It’s Not Too Late.

Singapore, June 12, 2018 (GLOBE NEWSWIRE) — If you forgot to pay taxes on your cryptocurrency capital gains back in April but you happened to be living and working outside of the US, you have a second chance. The IRS offers an automatic two month extension, giving you until June 15 to file any taxes … Continue reading “Forgot to File Your US Crypto Taxes in April? If You Are Living Overseas, It’s Not Too Late.”

Companies in Limbo as States Adjust Taxes to Federal Overhaul

By Ezequiel Minaya June 11, 2018 5:30 a.m. ET Businesses across the U.S. are paying more attention to state taxes, which have become a larger share of their total tax liability. While the federal corporate tax rate fell to 21% from 35% under last year’s federal tax overhaul, state tax rates remained unchanged. Many states … Continue reading “Companies in Limbo as States Adjust Taxes to Federal Overhaul”

Capitol Report: To fix Social Security, Congress would not have to raise taxes or cut spending by a single penny

Bloomberg News/Landov Attendees wear t-shirts in support of presidential candidates committing to Social Security for all generations as John Kasich, then a presidential candidate, spoke. Medicare and Social Security are on the way to insolvency, you could be forgiven for thinking. On Tuesday, the trustees of both programs issued their annual report, … Continue reading “Capitol Report: To fix Social Security, Congress would not have to raise taxes or cut spending by a single penny”

Treasury Works to Address Concerns Over Taxes on Overseas Earnings

By Richard Rubin June 4, 2018 6:12 p.m. ET WASHINGTON—The U.S. Treasury Department will give multinational corporations some but not all of what they want in closely watched international-tax regulations needed to implement the 2017 tax law, a senior Treasury official said Monday. The proposed rules, expected by year’s end, will attempt to balance concerns … Continue reading “Treasury Works to Address Concerns Over Taxes on Overseas Earnings”