The ranking Republican on the House Financial Services Committee proposed an amendment that would stop the panel from even thinking about taxing trades of stocks, bonds and derivatives. Representative Patrick McHenry, the ranking Republican on the panel, offered an amendment Thursday that would prevent the committee from considering financial transaction taxes, a proposed new tax
Colorox brand toilet bowl cleaner sits on display at a supermarket in Princeton, Ill. Daniel Acker | Bloomberg | Getty Images Consumer-staples giant Clorox, along with 10 other stocks have emerged as the definitive anti-coronavirus trades, as the only S&P 500 stocks avoiding correction territory. While the broader market craters, the well-known maker of bleach
AscentXmedia When it comes to your 401(k), there’s one piece of advice that most financial experts agree on in market routs like this: Stay the course. That means fighting the natural temptation to log into your investment account and react to the market’s big swings. However, many investors are not taking that advice, according to
Planning for a secure retirement is a top-of-mind priority for almost every American worker. Yet, according to a recent study by the Federal Reserve, one-quarter of those who are not retired say they have no retirement savings or pension whatsoever. At the end of 2019, a significant step was taken in addressing the retirement crisis
Senator Bernie Sanders is proposing hiking taxes on executive retirement plans and using the extra revenue to aid struggling worker pension plans. Sanders, who is seeking the Democratic presidential nomination, plans to introduce a bill in the Senate Thursday that would stop company leaders and other highly paid executives from delaying taxes on stock options
A trader reacts on the floor at the New York Stock Exchange (NYSE) in New York, U.S., August 5, 2019. Brendan McDermid | Reuters The coronavirus wiped $3.18 trillion in market value from U.S. stocks this week, according to estimates from S&P Dow Jones Indices. The equity benchmark lost $203 billion in value on Friday,
Democratic presidential hopeful Vermont Senator Bernie Sanders participates in the tenth Democratic primary debate of the 2020 presidential campaign season co-hosted by CBS News and the Congressional Black Caucus Institute at the Gaillard Center in Charleston, South Carolina, on February 25, 2020. Jim Watson | AFP | Getty Images A bill introduced by Sen. Bernie
As part of its Tax in 2020 initiative, Deloitte has introduced Immersive Mobility, a virtual reality-driven service that helps orient transitioning employees to new locations. The new offering is designed to reduce the financial and environmental costs of relocation. Immersive Mobility offers 360-degree city tours, virtual home tours, onboarding, and mixed-reality training combining virtual reality,
There are mundane activities in every business. These are tasks that take time and energy but frankly are better handled by someone else so you can focus on your company’s core business. “Most business owners know that they need to spend their time on high-value tasks such as business development and creating a great culture.
While the Supreme Court decision in Wayfair has led many states to expand their sales and use tax base to include digital transactions, Maryland and Nebraska have introduced bills that would tax gross receipts from digital advertising — a move that could hit major tech companies hard if it’s taken up nationally. To an extent,
The U.S. stock market fell into correction territory on Thursday as investors punished equities in favor of safer assets as anxiety over the spread and potential impact of the virulent coronavirus. A correction is defined as a 10% decline in one of the major U.S. stock indexes, typically the S&P 500 or Dow Jones Industrial
Kenneth Montgomery is the head team physician with the New York Jets, as well as the president and co-founder of OrthoNations, a nonprofit aimed at training surgeons in developing nations around the world. Each year, Montgomery and his group travel to countries like Vietnam, where they’re headed next, to teach medical professionals a range of
PricewaterhouseCoopers is adding a third external director to its board, former SEC commissioner Troy Paredes, and establishing an Assurance Quality Advisory Committee where the firm will bring in more outside voices to help improve its audits. Paredes (pictured) will be joining two other outside directors whom PwC added to its board in 2017: former Commerce
The filing season currently underway is the second season following the changes brought by the Tax Cuts and Jobs Act, and is naturally going somewhat smoother than last year at this point, according to Tom Wheelwright, a CPA and CEO of WealthAbility. “We know the forms have already changed from the 2018 filing season, beginning
Jack Dorsey, chief executive officer of Square Inc., second right, tours the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Thursday, Nov. 19, 2015. Yana Paskova | Bloomberg | Getty Images Square has been an outlier in this week’s payment stock wreckage. Shares of Mastercard, Visa, American Express and Paypal
Woman figuring out her finances. stefanamer If there’s any silver lining to the interest accumulating on your student debt, it’s that it can knock down your tax bill. The IRS allows certain borrowers to deduct up to $2,500 in student loan interest each year from their taxable income, and it can come from payments to
Spook central; short of a grand; a low bar; and other highlights of recent tax cases. Mansfield, Texas: Innocent Wangwamba, 36, a Zambian national who operated a scheme to steal U.S. taxpayer IDs and fraudulently claim refunds, has been sentenced to 97 months in prison. Wangwamba, who pleaded guilty last year, admitted that from February
The first quarter of the new year is a time to set goals and implement changes that will transform your business and help you achieve even greater success in the year to come. But while setting lofty goals is nice, executive leaders must also consider how they will keep track of business health in 2020.
The Tax Cuts and Jobs Act of 2017 made the most far-reaching changes in the Tax Code in over 30 years, but it’s far from the last word on tax reform, with 97 percent of corporate tax executives polled by BDO USA predicting more changes will come after the November election. More than half (55
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