Entries by Edward Lyon

Don’t Worry, No One Will Notice

Would anyone in their right mind sit down from scratch and develop the tax withholding system we have today? The IRS publishes tables telling employers how much to take out of everyone’s paycheck, depending on their income, their filing status, and the amount they guesstimate they’ll be claiming in deductions and credits. Then, at the […]

Champagne Wishes and Caviar Dreams

Just a couple of generations ago, it just wasn’t polite to discuss money. We mostly knew who was rich and who wasn’t. But it wasn’t until about 1984, when crack investigative journalist Robin Leach launched Lifestyles of the Rich and Famous, that Americans began following celebrity houses, cars, and bank accounts with the same gusto as […]

Kondomania

America’s economy has morphed throughout our history, starting from agricultural to manufacturing to service to technology. Now it seems we’re moving towards a celebrity-based economy. The world is full of D-list celebrities competing for attention: third-rate rappers hoping to break through their own noise, random Kardashian cousins, and spurned bachelorettes fighting for one last rose. […]

IRS Rules on Qualified Business Income

Last week, the IRS issued 274 pages of final regulations governing the new Section 199A Qualified Business Income (QBI) deduction. (You’re probably already starting to feel a headache coming on. Don’t worry, we read this stuff so you don’t have to.) The new regulations interpret one of the most important parts of the 2017 tax […]