alimony

WAKE UP WITH REM: Attack of the bobbleheads

 
 

It’s been a weird week, folks. Professional skateboarder Tony Hawk gave the keynote speech at an AICPA event. A tax prep titan could tumble, thanks to the Tax Cuts and Jobs Act. And the Ohio State Supreme Court is hearing arguments about bobbleheads, because why not.

To bobble, or not to bobble? The Cincinnati Reds give out free bobblehead figures of players to ticket buyers at certain games. The state of Ohio wants to tax the bobbleheads. The Cincinnati Reds, on the other hand, do not feel they should pay sales tax on the freebie bobbleheads. Now the Ohio Supreme Court is hearing arguments regarding the taxation of bobbleheads. And we’re making a big deal about it, because we just love typing the word “bobbleheads.” [Cincinnati Enquirer]

 

How to save the world (or at least yourself) from bad meetings. An epidemic of bad, inefficient, overcrowded meetings is plaguing the world's businesses - and making workers miserable. David Grady has some ideas on how to stop it.

 

H&R Block stocks plummet, due to the Tax Cuts and Jobs Act. While Trump’s tax reform slashed corporate taxes from 35% to 21%, not every corporation is celebrating. Due to vastly simplified filing requirements for individuals, tax prep service H&R Block will be working on far fewer complex returns. As the company charges its clients based on the complexity of their returns, analysts predict disappointing consequences for the coming year. [Bloomberg]

[Sorry, we have to say it again – Bobbleheads.]

Skateboarders and accountants: a match made in heaven. Wednesday, professional skateboarder Tony Hawk gave the keynote speech at the AICPA’s Engage event in Las Vegas. You may be surprised to learn that Mr. Hawk is an astute entrepreneur, having started several successful companies (and some not-so-successful companies). He credits his accountant with keeping him on track. [Accounting Today]

New way to pay alimony: The tax advantages of alimony will only apply for couples divorcing prior to December 31, 2018. Expect negotiating IRAs to pick up the slack. [CNBC]

 

In an attempt to make up for the bobblehead overload, here are 10 songs you’ve heard and don’t know the name of.

 

Wake Up With REM is The REM Cycle’s biweekly compilation of newsworthy articles pertaining to taxation, accounting, and life in general. Got a hot tip? Email us at REMCycle@rem-co.com.

Wake-Up Call - Valentine's Day edition

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Posted by REM Cycle Staff

The Wake-Up Call is The REM Cycle’s biweekly compilation of newsworthy articles pertaining to taxation, accounting, and life in general. Got a hot tip? Email us at REMCycle@rem-co.com.

As accountants, we get excited about numbers. (Maybe a little too much.) We got to wondering: What percentage of Americans celebrate Valentine's Day? How much does the average adult spend on gifts? How many gallons of wine get sold that week? Grab some heart-shaped chocolates and dig into this handy infographic of Valentine's Day by the numbers. [history.com]

Currently filing joint, but about to file as single? Take note: divorce agreements entered into or amended after December 31, 2018 will no longer be picked up in income (recipient) or a reduction of income (payor) due to the Tax Cuts and Jobs Act. [Taxbot.com] (See REM's full list of changes here.)

Between 30-40% of Americans will rely primarily on Social Security for income after age 65. But how much of that Social Security is taxable? The amount you receive will determine whether the IRS will take a chunk, but the likelihood is that you won’t have to pay state tax at all: Check out this list of 37 States That Don't Tax Social Security Benefits. [The Motley Fool]

Valentine’s Day is a good time to review the new tax brackets. Whether you’re filing single, married jointly, head of household, or married filing separately, the likelihood is that the new tax law has changed the rate you’ll pay this April. (Who says romance is dead?) [Business Insider]

Think you’ve heard the worst of the Equifax data breach? Think again. Tax ID numbers, credit card expiration dates, and even the states that issued the consumers’ driver licenses were accessed by hackers. [AP News]

ICYMI: Love is in the air in Date Night with Taxes [YouTube].