There are always good reasons for most people not to buy a new car. Such a purchase can set you back for years, as high monthly payments delay the buildup of savings and investments that will be neede...
Tag: accounting
With this simple year-end change to your retirement accounts, you can reap significant tax rewards
If you are a middle-income earner, you may be in a much better position tax-wise than you realize. That’s good news: You may be able to take advantage of that better position to strengthen your retire...
Are high-deductible health plans worth it? Here’s who can benefit the most.
Hello and welcome to Financial Face-off, a MarketWatch column where we help you weigh financial decisions. Our columnist will give her verdict. Tell us whether you think she’s right in the comments. A...
10 ways American finances actually improved in 2022, despite high interest rates and a slump in stocks
Many Americans are ending the year feeling gloomy about their finances, and you don’t need to be a psychiatrist to figure out why. Runaway inflation gnawed through household budgets as prices soared o...
IRS pauses rule requiring people to report PayPal, Venmo transactions over $600. Here’s what went wrong.
To avert taxpayer confusion in the upcoming tax season, the IRS is delaying a rule that would have required e-commerce sites and payment platforms like eBay EBAY, +0.12%, Etsy ETSY, -0.32% and PayPal ...
Earn extra money with a side gig—here are 6 good ones for retirees
If inflation and the gyrating stock market has you fretting over your financial security in retirement, you’re not alone. Fully 71% of boomers recently surveyed by Bankrate said they are behind on ret...
Huge Blow For Crypto: Binance, Crypto.com Dropped By Their Auditor
The poison of suspicion is continuing to spread in the crypto sphere. This poison, disseminated by the overnight implosion of Sam Bankman-Fried’s crypto empire on Nov. 11, is infecting most com...
New tax rule for eBay and Venmo will cause ‘significant confusion,’ CPAs say
As Congress concludes 2022 with a sprint to pass laws and a spending deal, tax accountants are joining a chorus of e-commerce companies and pay platforms who say a revamped tax form is about to cause ...
My mom spent $90K on bitcoin and gifts in a romance scam. Can the tax code help her?
My mom went into debt to buy bitcoin for a scammer because she thought she was in a romantic relationship with him. She also racked up credit-card debt to mail computers and gift cards to the scammer....
Accounting firm Mazars drops all crypto clients, including Binance and Crypto.com
French accounting firm Mazars is pausing all its work with crypto firms including, Crypto.com, KuCoin, and Binance, according to a spokesperson for Binance. Mazars has since deleted all crypto reports...
Major accounting firms are steering clear of crypto audits
The collapse of Bahamas-based FTX triggered a sense of distrust for centralized exchanges in the crypto industry. This was followed by increasing demands for transparency regarding the assets, liabili...
Accounting Firm Mazars Stops Proof-of-Reserve Audits for Crypto Firms, Binance Audit Removed From the Web – Bitcoin News
The accounting firm Mazars Group has stopped doing proof-of-reserves (POR) audits for cryptocurrency exchanges and the recently published Binance POR has been removed from the web. Mazars was conducti...
FTX Managed Critical Accounting Via Slack, New CEO Testifies
Now-bankrupt FTX may have experienced financial trouble for years before the public became aware, the exchange’s new CEO testified Tuesday. John Ray, who took over to handle the exchange’s restr...
I sold my late mother’s home for $250,000. I make $80,000 and have $220,000 in student debt. I want to buy a house. Should I use all my inheritance for a down payment?
My mom passed away, and left me her house, which I just sold and will net $250,000. I’m 41 years old with no real retirement savings. I make $80,000 a year, and I am maxing out contributions to my emp...
Dear Tax Guy: Our accountant charged us $486 for a simple gift-tax return. Why on earth would it cost so much?
We gave our daughter money towards a down payment on a home and learned we had to file a gift tax return. Our accountant charged us $486 for this. Why can’t you just add a form to your regular tax ret...
Coinbase CEO Slams Sam Bankman-Fried for Blaming FTX’s $8 Billion Hole on ‘Accounting Error’ – Featured Bitcoin News
The chief executive of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, has slammed former FTX CEO Sam Bankman-Fried (SBF) for claiming that FTX is missing $8 billion due to an “ac...
Bitwave raises $15 million for crypto-focused tax and accounting platform
Crypto accounting, tax and compliance platform Bitwave raised $15m in a Series A funding round led by Hack VC and Blockchain Capital. Other venture capital firms including SignalFire, Valor Equi...
Cryptocurrency investor losses are being turned into IRS gains — here’s how they’re doing it
The Internal Revenue Service has been turning up its scrutiny on cryptocurrency investors in recent years, and as that happens, more investors have been turning to the tax code’s rules on investment l...
Coinbase CEO Denies FTX ‘Accounting Error,’ Claims Funds Were Clearly ‘Stolen’
Join Our Telegram channel to stay up to date on breaking news coverage Coinbase CEO Brian Armstrong slammed Sam Bankman-Fried’s account of how FTX got into a $8 billion hole on Saturday. Armstrong cla...
‘Even the most gullible person should not believe Sam’s claim that this was an accounting error’
Ever since Sam Bankman-Fried’s crypto exchange FTX melted down last month, one of the biggest questions is what exactly happened to $8 billion that seems to have gone missing. Bankman-Fried, also know...
Coinbase CEO Questions Former FTX CEO’s Claim of Losing $8 Billion In Accounting Error
The former FTX CEO transferred some of the customer funds to Alameda Research. Coinbase’s stock has been trading at $369 (USD) for the past few weeks. Coinbase Wallet partnered with Transak to keep cr...
Coinbase CEO Armstrong says Bankman-Fried’s US$8 bln ‘accounting error’ doesn’t stand up
Coinbase Global Inc. Chief Executive Brian Armstrong said Sam Bankman-Fried’s explanation of sloppy accounting as the reason US$8 billion moved from his crypto exchange FTX to brokerage arm Alameda Re...
Coinbase CEO Rejects FTX ‘Accounting Error,’ Says Funds Were Obviously ‘Stolen’
Coinbase Chief Executive Brian Armstrong on Saturday condemned Sam Bankman-Fried’s account of how FTX found itself in an $8 billion hole. Armstrong said there is no way billions of dollars could have ...
Mazars, a global accounting firm, to verify Binance’s token reserves
Binance has appointed Mazars, the auditing firm of the former US President, Donald Trump, to carry out a public audit of Binance’s crypto asset reserves. Token Audit The sudden collapse of FTX exchang...
Sam Bankman-Fried Interview Reveals Dark Donations to Republicans, FTX’s ‘Poorly Labeled Accounting’ – Bitcoin News
On Nov. 29, 2022, the crypto supporter and reporter, Tiffany Fong, published an interview with the former FTX CEO Sam Bankman-Fried (SBF) that was recorded 13 days before the interview was released. D...
Coinbase Launches New Initiative To Promote Crypto Exchange Transparency and On-Chain Accounting
US crypto exchange giant Coinbase is launching an initiative to help encourage more transparency among firms in the industry, particularly in regard to proof of reserves. In a blog post, Coinbase says...
Audit Standards Overseer Also Backs Startups
Listen to article (2 minutes) An accounting trade body has invested in audit-related tech startups, while setting auditing standards and overseeing millions of audits—prompting concerns within the ind...
‘Most economists are predicting a recession in 2023’: I own a rental property. Is it a good time to take out a bank loan and renovate — or should I wait?
Dear MarketWatch, Along with a sibling, I own a rental property of more than 40 rooms in the Caribbean, where we do weekly rentals. It’s near downtown but in need of repairs and renovation. Is this ...
BTC Accounting To 10K Moved To Anonymous Wallets Associated With Mt. Gox Hack
10K BTC moved to anonymous wallets. BTC-e exchange founder’s Vinnik connection with the Mt. Gox hack. The tokyo-based crypto exchange hack and the recent FTX crash shook the industry. Anonymous Act...
5 things not to buy in 2023
It’s been a year of contradictions. The recession drum beats on, interest rates are rising, and the stock market has taken a tumble, and yet retail sales have risen 6.5% in the last 12 months, trailin...