Democratic presidential candidate Elizabeth Warren gestures as she speaks during a campaign stop at George Mason University in Fairfax, Virginia on May 16, 2019. Mandel Ngan | AFP | Getty Images Democratic presidential candidate Elizabeth Warren isn’t waiting for the election to push forward her proposal to erase the majority of the country’s outstanding student
Companies around the world regularly do business in multiple countries, and they arrange their supply chains and distribution models in various ways. Some businesses rely heavily on physical assets like factories and delivery vehicles, but many businesses also rely on intellectual property and data transfers. In either case, selling goods and services across borders has
Sign on IRS headquarter building in downtown Washington, DC Getty If at first you don’t succeed, try, try again. And again. After a number of iterations, the Taxpayer First Act has finally passed the House and the Senate. The key provisions in the Taxpayer First Act have been reform talking points for well over a
The growth of the sharing economy has raised important questions about the proper tax treatment of assets divided between business and personal use. One example is the tax treatment of personal residences used as short-term rental properties, which are often advertised on new economy sharing platforms. While traditional hotels are permitted to fully deduct business-related
The Treasury Department dealt the final blow to programs in states like New York and New Jersey designed to help residents circumvent the new $10,000 limit on deductions for state and local taxes. The regulations, issued Tuesday, prohibit workarounds that would allow residents to create charitable funds for a variety of programs where donors can
Morgan Stanley on Thursday raised its forecast for Disney shares as interest in the media giant’s new streaming service puts it on a path for healthy long-term profit. Analyst Benjamin Swinburne hiked his price target to $160 from $135, predicted over 130 million over-the-top subscribers around the world by 2024 and wrote that Disney+ should
DNY59 | iStock | 360 | Getty Images To save, or not to save? That question might not be yours to answer. A growing number of companies now direct money from their employees’ paychecks to a retirement account — even after a worker has said “no, thanks.” Auto-enrollment into retirement plans, of course, is not
Many businesses around the world operate in more than one country, making them subject to multiple tax jurisdictions. To prevent businesses from minimizing their tax liability by taking advantage of cross-country differences in taxation, countries have implemented various anti-tax avoidance measures, one being the so-called Controlled Foreign Corporation (CFC) rules. CFC rules apply to certain
Martin Feldstein (MONEY SHARMA) AFP/Getty Images The cleverest idea from Martin Feldstein was a plan to take unemployment funds away from employers and hand them to employees. Workers of the world, unite! Feldstein, who died June 11, was an illustrious Harvard economist of a conservative bent. He worked for a while in the Reagan administration.
Neal shops a 3-year extender bill, and more. Politico reports that House Ways & Means Committee Chair Richard Neal is shopping a bill to restore and extend a pile of special interest tax provisions for three years. Neal also would expand the Earned Income Tax Credit, the Child Tax Credit, and the Child and Dependent
The Internal Revenue Service posted a special early draft of its publication on federal income tax withholding to give employers an advance look at the changes in the new Form W-4 that is being revised for 2017 tax law. Timothy Fadek/Bloomberg Publication 15-T, Federal Income Tax Withholding Methods, will be for use next year and
Howard Marks, Co-Chairman, Oaktree Capital. David A. Grogan | CNBC Billionaire investor and Oaktree Capital Management Co-Chairman Howard Marks is worried to hear investors say “this time it’s different” or openly wonder if the historic bull market and economic success “can only get better forever.” In a 12-page letter sent to Oaktree clients on Wednesday,
With the Atlantic hurricane season underway, homeowners should be aware that inadequate insurance coverage can make recovering from a bad situation even worse. Whether damage from a storm comes from wind or water, homeowners whose coverage is insufficient have discovered the hard way that it makes recovery difficult and that their options for help are
Italy is no stranger to low economic growth and high unemployment. To address these issues, Deputy Prime Minister Matteo Salvini is pushing for a 15 percent flat income tax initially only for middle- to low-income earners. However, this proposal would cost between €12 billion and €30 billion per year in tax revenue, pushing Italy’s budget
On June 5, Senator and presidential candidate Cory Booker (D-NJ) released a plan to increase access to affordable housing. While this proposal would likely decrease the amount that low-income individuals pay in rent, the policy could perpetuate the trend towards high-cost rentals and have pervasive effects on the housing market. With the goal of capping
While former Colorado Gov. John Hickenlooper (D)—currently a 2020 presidential candidate—has described his state’s earnings from legal marijuana sales as a “drop in the bucket,” current Gov. Jared Polis (D) is taking a different approach. On Wednesday, his administration issued a report touting the fact that Colorado has so far brought in more than $1 billion in cannabis
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The accuracy of miscellaneous income statements submitted by federal agencies and other entities on the Form 1099-MISC has significantly improved, but better communication and outreach could further reduce the number of incorrect 1099-MISC statements filed each year, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted that entities
David Gurle, CEO, Symphony Source: Symphony Symphony, a messaging platform for Wall Street firms, has been valued at $1.4 billion, according to people with knowledge of the company. The start-up will soon announce that it raised $165 million from investors to fuel its global expansion, according to the people. Symphony’s latest valuation is a relatively
Slocan Lake, BC Ira T. Nicolai | Stone | Getty Images It’s not every day that you’d tell a retiring client to ratchet up their stock exposure, but if she has some guaranteed income, it just might make sense. That’s because pension income, Social Security benefits and income annuities all provide retirees with a measure