Credit: Getty images, royalty free The latest employment data show that many older workers, who face pressures to work longer because they have little in savings, also encounter obstacles to working longer in the labor market. The overall labor market outlook for older workers is improving. But older workers in population groups that typically face
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President Trump last week asked the Treasury Department to review the rules surrounding Required Minimum Distributions (RMDs) for traditional Individual Retirement Accounts and 401(k) plans. Updating RMD life expectancy tables, which are now 15 years old, makes sense. But slowing the amount people must withdraw from their IRAs and 401(k)s (and pay taxes on) will do
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Wall Street may be whirling about Facebook and Twitter’s brushes with Congress, but CNBC’s Jim Cramer doesn’t believe the hype. “I’ve got a sneaking suspicion that the so-called experts who bloviate about the death of advertising on the web don’t actually, you know, communicate on the web,” the “Mad Money” host said Thursday. Cramer argued
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House Republicans are moving closer to introducing tax legislation that would make changes to savings accounts that Americans rely on for retirement, education and more. The House Ways and Means Committee on Thursday provided Republicans with an updated version of what will be included in so-called Tax Reform 2.0, which largely aims to make the
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An employee scans an item at the Amazon.com fulfillment center in Robbinsville, New Jersey, U.S., on Thursday, June 7, 2018. Photographer: Bess Adler/Bloomberg Bernie Sanders (I-VT) and Ro Khanna (D-CA) just introduced the ‘‘Stop Bad Employers by Zeroing Out Subsidies Act’’ (or Stop-BEZOS) that would punish big companies like Amazon, Walmart, and McDonalds for paying
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The Internal Revenue Service amendments to the Code Sec. 482 regulations in 2003 requiring stock-based compensation to be allocated under cost-sharing agreements with foreign subsidiaries had adverse tax consequences for many multinational companies that had tended to allocate those costs to the U.S. entity where those employees were located. The Tax Court’s unanimous decision in
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Key Findings The Tax Cuts and Jobs Act (TCJA), passed by Congress in December 2017, made significant progress in improving the cost recovery treatment of business investment by enacting 100 percent bonus depreciation for short-lived assets. This provision allows businesses to immediately deduct the full cost of short-lived investments, similar to the treatment of other
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Scoville Scale Chart (https://picturelights.club/galleries/chili-pepper-scoville-chart.html)Picture Lights Club Gallery, enhanced by CogWorld The Scoville Scale is a measurement chart used to rate the heat of peppers or other spicy foods. It can also can have a useful application for measuring cybersecurity threats. Cyber-threats are also red hot as the human attack surface is projected to reach over 6 billion
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Brian Perez, a 35-year-old former CPA, has been sentenced to 18 months in prison for wire fraud and tax evasion, according to U.S. Attorney Ryan Patrick. Perez, who pleaded guilty on March 1, also received three years of supervised release and was ordered to pay $162,755 in restitution to his employer and an additional $42,435.18
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The primary objective of tax reform should be economic growth. The Tax Cuts and Jobs Act (TCJA) was a pro-growth bill; however, many of its provisions are scheduled to phase out or expire over the next decade. Permanence for some provisions is more cost-effective than others, which is important to keep in mind as lawmakers
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Today’s map shows state corporate income tax collections per capita in the fifty states. Collections are highest in New Hampshire at $525 per capita and Massachusetts at $342 per capita. Delaware comes next, collecting $334 per capita in corporate income taxes and levying an economically harmful gross receipts tax. Six states—Nevada, Ohio, South Dakota, Texas,
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