Sanctioned Disruption of the Banking Industry to Come

For the most part the announcement from the Office of the Comptroller of the Currency (OCC) are painful boring. Sorry fellas. But this one looks like it could provide some innovative changes to the banking industry that could disrupt things for the better. The OCC says: “On December 2, 2016, Comptroller of the Currency Thomas … Read more

Does My Mother With Cancer Have to Pay Taxes on Her Crowd Funding Campaign?

Question: Dear Steve, My mother was recently diagnosed with stage III cancer. She (nor any of us) does not have much money. Luckily, she has insurance, but it is income based. I want to a crowdfunding campaign to help her with finances, but I don’t want it to push her out of being eligible for … Read more

My Crowdfunding Donations to Help a Sick Friend Are 1099-K Taxable Income?

“Dear Steve, My friend’s mother was diagnosed with cancer and died within a few short months. As the end was nearing I started a GoFundMe page for my friend (age 24) who was to become the sole guardian of her TRIPLET siblings. Due to an amazing community effort, $36,000 was raised. All said it was … Read more