Month: February 2020

Uber, Lyft, and other rideshare drivers spend their days driving strangers from Point A to Point B. Just like any other business, Uber and Lyft drivers get to claim their mileage, gas, and other day-to-day expenses as business write-offs. Unlike regular businesses, Uber and Lyft drivers get to claim a few extra write-offs come tax
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Investors must take precaution about the stocks they want to put their money in because the coronavirus outbreak is disrupting supply chains of many companies, CNBC’s Jim Cramer warned on Monday. American businesses are “far too dependent” on manufacturing products in China, he said. The comments came after the three major U.S. stock indexes plunged
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With Super Tuesday approaching, the six top Democratic presidential candidates continue to hone their tax proposals in order to address income inequality and raise additional federal tax revenue. Some candidates propose changing the tax treatment of deferred assets, specifically assets passed onto heirs after death. For example, shortly after launching his campaign, former Vice President
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Warren Buffett David A. Grogan | CNBC Warren Buffett was live on CNBC’s “Squawk Box” for three hours on February 24, 2020. Berkshire Hathaway’s chief and Becky Quick covered many topics, including his thoughts on Democratic presidential contenders Bernie Sanders and Michael Bloomberg, sub-zero interest rates, Bank of America vs. Wells Fargo, cryptocurrencies, and his
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An Austrian train was halted in Munich, Germany, after carrying two women with suspected coronavirus from Venice, Italy. picture alliance Global markets are suffering. On Monday, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite all traded sharply lower. Don’t hit the panic button just yet. Within six months, stocks are usually on
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Scandinavian countries are well-known for their broad social safety net and their public funding of services such as universal healthcare, higher education, parental leave, and child and elderly care. High levels of public spending naturally require high levels of taxation. In 2018, Denmark’s tax-to-GDP ratio was at 44.9 percent, Norway’s at 39.0 percent, and Sweden’s at 43.9 percent.
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“Somebody’s ringin’ the bell.” It’s the IRS! The IRS announced yesterday that revenue agents will make up to 800 surprise face-to-face visits to people with incomes in excess of $100,000 who failed to file tax returns in 2018 or earlier. While estimates vary, there are millions of non-filers each year so this effort is largely
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A contractor prepares a sliding door for a home under construction at the Toll Brothers Inc. Enclave at Rye Brook housing development in Rye Brook, New York Michael Nagle | Bloomberg | Getty Images Owning a home has long been the individual investor’s opportunity to hold real estate. But the American millennial population is waiting
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A handful of the remaining Democratic presidential candidates remain committed to increasing the earned income tax credit (EITC), particularly for workers without children at home. But former Mayor Mike Bloomberg has proposed a broader innovative expansion – a pilot project to extend the credit to family caregivers even if they don’t have earnings from a
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