Democrats on the tax-writing House Ways and Means Committee introduced a package of draft legislation to deal with climate change by offering further tax incentives for use of renewable energy. The Growing Renewable Energy and Efficiency Now, or GREEN, Act would promote the use of green energy technologies and incentivize the reduction of greenhouse gas
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Net wealth taxes are recurrent taxes on an individual’s wealth, net of debt. The concept of a net wealth tax is similar to a real property tax. But instead of only taxing real estate, it covers all wealth an individual owns. As today’s map shows, only three European countries covered levy a net wealth tax,
Target CEO Brian Cornell appears on CNBC after ringing the opening bell at the New York Stock Exchange on the morning of November 28, 2014 in New York City. Getty Images Target is far and away the best performing retail stock of 2019. After reporting third-quarter results on Wednesday that crushed Wall Street’s expectation, Target
This week’s map examines states’ rankings on the individual income tax component of the 2020 State Business Tax Climate Index. The individual income tax is important to businesses because states tax sole proprietorships, partnerships, and in most cases, limited liability companies (LLCs) and S corporations, under the individual income tax code. However, even traditional C corporations
Jamie Grill | Getty Images Sometimes it pays to hold off on that holiday bonus. Workers on Wall Street received an average bonus of $153,700 in 2018, according to a report from the New York State Comptroller’s office. That’s down 17% from the prior year — but still enough to make the holidays happier. Meanwhile,
Tonight’s Democratic Debate in Atlanta will see the remaining 10 candidates argue that they are the best choice as their party’s nominee in the 2020 presidential election. The candidates currently in the top 4 polling positions—former Vice President Joe Biden, Senators Elizabeth Warren (MA) and Bernie Sanders (I-VT), and South Bend Mayor Pete Buttigieg—have all
Economic Security Planning, Inc. Today’s column addresses what happens when benefits are withheld due to the earnings test, when spousal benefits might be available, public pensions and spousal benefits, survivor benefits and how excess spousal benefits are calculated. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
Looking for a “breakthrough.” The House passed another temporary federal government funding bill through Dec. 20. But agreeing on a permanent bill may not be so easy. Senate Budget Committee Chair Richard Shelby says “impediments” have come up in negotiating top-line spending numbers for 12 appropriations bills. They’re familiar: ”It’s not just the allocations, it’s
The tax landscape for online sales just got more confusing — again. Despite signing on to a U.S. Supreme Court amicus brief stating otherwise, California is now retroactively seeking sales tax from out-of-state online merchants, going back as far as 2012. The move is seen as a bellwether, as other states are watching to see
Traders and financial professionals work on the floor of the New York Stock Exchange. Drew Angerer | Getty Images News | Getty Images Investors may be just too comfortable picking individual stocks, and ignoring the macro risks that could derail the rally and broadly hit all of the market’s stocks. Citigroup strategists, in a note,
Anton Petrus | Moment | Getty Images More than half of Americans are looking for adventure when it comes to travel in 2020, according to a new study from the Travel Channel. “That is up a little bit over last year,” said Mariel Clark, vice president of digital for HGTV and the Travel Channel, noting
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WASHINGTON, DC – NOVEMBER 15: U.S. President Donald Trump delivers remarks in the Roosevelt Room at … [+] the White House on November 15, 2019 in Washington, D.C. (Photo by Zach Gibson/Getty Images) Getty Images Lots of people want to see President Trump’s tax returns, including members of Congress, New York state prosecutors, and —
October 15 has become the new second tax day for many Americans — and their tax preparers. This second tax season “went very quickly. We had more extensions than usual, and we never felt quite caught up,” said Debra James, an Enrolled Agent at Genesis Accounting & Management Services, in Lorain, Ohio. “We usually wait
FILE – In this Sept. 4, 2011 file photo shows the main plant facility at the Navajo Generating Station, from Lake Powell, in Page, Ariz. Two environmental groups are asking a federal court to set a deadline for the U.S. Environmental Protection Agency to issue mandates for pollution controls at two power plants, including Four
Kenneth Fisher, founder, chairman and chief executive officer of Fisher Investments, speaks during a television interview in New York, May 10, 2010. Jonathan Fickies | Bloomberg | Getty Images The Chicago police pension fund is ending its $67 million relationship with Fisher Investments. The Policemen’s Annuity and Benefit Fund of Chicago joins a number of
Share to facebook Share to twitter Share to linkedin Yet another business leader speaks out against Warren. Bryan Bedder/Getty Topline: A week after accusing Senator Elizabeth Warren of “tribalism,” former Goldman Sachs CEO Lloyd Blankfein again blasted the Democratic 2020 candidate for her war on billionaires, denouncing politicians like her for moving away from “populism”
Pursuing whistleblower allegations that a political appointee interfered with a Trump or Pence IRS audit. Staff for Senate Finance Committee Chairman Chuck Grassley and top panel Democrat Ron Wyden met with an IRS whistleblower who alleges that at least one political appointee at Treasury tried to interfere with an audit of President Trump or Vice
The IRS has issued Revenue Procedure 2019-46, which updates the rules for using the optional standard mileage rates in computing the deductible costs of operating an automobile for business, charitable, medical or moving expenses. The guidance, which reflects changes from the Tax Cuts and Jobs Act, also provides rules to substantiate the amount of an
Ajit Pai Brad Quick | CNBC The Federal Communications Commission (FCC) announced on Monday that it will publicly auction off a valuable telecommunications asset, in a move investors viewed as a blow to U.S. satellite communications provider Intelsat. Shares of Intelsat dropped more than 40% in heavy trading volume after FCC Chairman Ajit Pai said
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