May 5, 2025

TAX

Crypto

Should I report crypto, Bitcoin, NFTs on my taxes? Steps, what to know

Most meme coins not under SEC jurisdiction: Peirce Head of the SEC Crypto Task Force and SEC Commissioner Hester Peirce gives her take on meme coins and says the SEC will look at the facts and circumstances, but says most meme coins probably don’t have a home in the current set of regulations. Bloomberg Digital

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Investors

Stock plunge hits 401(k) investors hard for 3rd day amid tariff chaos

People on Wall Street react to sinking stocks from tariffs People on Wall Street reacted to the stock market downturn from Trump’s tariffs announcement with a mix of worry and optimism. President Donald Trump defended his tariff strategy in light of the stock market’s quick fallout, saying “sometimes you have to take medicine to fix

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Investors

Judson Gee’s Guide to Tax Mitigation Strategies for High-Income Earners, Investors & Business Owners

Ethan Stone  |  Contributor For high-income earners and business owners, taxes often represent their largest recurring expense. While many financial advisors focus on basic tax strategies, such as tax-loss harvesting, more advanced methods exist that can potentially legally and significantly reduce tax burdens. Judson Gee, Managing Partner of JHG Financial, has built a reputation as

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Banking

IRS sets new initiative with banks to uncover fraud

The Internal Revenue Service’s Criminal Investigation unit has embarked on a new initiative for engaging with financial institutions as it makes greater use of banking data to uncover tax and financial fraud.  IRS-CI released FY24 Bank Secrecy Act metrics Friday, demonstrating how it uses BSA data to investigate financial crimes. During fiscal years 2022 through

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Finance

PERSONAL FINANCE: Changes coming to 401(k)s in 2025 | Business

Congress passed the Secure 2.0 Act in 2022 to expand saving opportunities for individuals who have access to savings vehicles like 401(k)s and workplace savings plans. Several of the bill’s provisions go into effect in 2025 and, if you’re like many workers, your 401(k) or workplace savings plan is likely the foundation of your retirement

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