As with capital investment, businesses cannot immediately deduct the full cost of inventory purchases against taxable income. Instead, the cost of inventories is deducted when sold. The deduction amount depends on the inventory valuation method. Today’s map shows which of the three inventory valuation methods European OECD countries require their businesses to use for tax
CNBC’s Jim Cramer is worried President Donald Trump‘s administration will keep applying pressure to China into the election, creating a headwind for the market. “I think that the president is keeping the heat on. I expect more negatives about China,” Cramer said on “Squawk on the Street.” Cramer’s remarks Thursday come as the relationship between
Key Findings When a person lives in one state but works in another, they may have tax liability in both states, but typically receive a tax credit to eliminate double taxation of that income. Seven states, however, tax people where their office is even if they do not actually work in the state, and these
Some Americans may still be recovering from the disappointment they felt after receiving stimulus checks for less than anticipated. One particular cohort that may have received reduced checks: those who were due $500 payments for children under age 17. The U.S. government rushed out $1,200 stimulus checks to Americans this spring after Congress passed the
Yesterday, Scott Pulsipher and Michael B. Horn wrote on RealClearPolicy.com, “An obstacle to employers investing more in their employees’ education is that Section 127 of the tax code has been frozen in time since 1986.” Section 127 allows employers to provide up to $5,250 annually for worker education costs that can be tax-deductible and excludable
On July 30 and July 31, 2020, the IRS published proposed regulations addressing small-business accounting method changes, and carried interest, respectively. Certain aspects of the two sets of regs are troubling, according to Tom Wheelwright, CPA, founder and CEO of the WealthAbility Accounting Network. “Both sets have provisions that run contrary to the clear intent
President Donald Trump is tapping his presidential authority to make tax changes that Congress is refusing to do, but his limited power means he could end up over-promising and under-delivering on his pledge to slash IRS bills. Trump has deferred hundreds of billions of dollars worth of payroll tax levies and is contemplating another executive
In its search for revenue to fill in budget gaps, Nevada is considering a mining tax increase through a constitutional amendment. Two resolutions with competing tax plans (AJR1 and AJR2) passed both chambers without amendments on August 2nd, within three days of when they were initially introduced. The legislature adjourned on August 6 without scheduling
Chip Somodevilla | Getty Images Capitol Hill has come to a standstill following heated discussions last week on what to include in the next coronavirus stimulus package. One thing they did seem to agree on was another set of $1,200 checks to Americans, similar to the payments that went out this spring. While Treasury Secretary
Now that the presumptive Democratic presidential ticket will be former Vice President Joe Biden and California Senator Kamala Harris, many will remember the two squaring off in the primary run-up on such issues as healthcare, taxes, and criminal justice reform. What tax policy ideas did Harris propose along the campaign trail, and how do they
Payroll-processing companies are eagerly anticipating guidelines from the Internal Revenue Service and the Treasury Department on how to handle the payroll tax deferral that President Trump included in his executive orders over the weekend in an effort to spur the economy during the novel coronavirus pandemic. Payroll services need the rules, which are expected to
Content Freshness Usefulness Slack for Dummies is the fastest way to learn and understand Slack. Ideal for virtual teams and newly created work-from-home organizations. If you buy something through our links, we may earn money from our affiliate partners. Learn more. Even before the pandemic forced the masses to work from home, there has been
President Donald Trump’s order to delay collection of payroll taxes thrusts a dilemma on U.S. companies: continue withholding the money from workers expecting bigger paychecks or pass it on and potentially put themselves or their employees at risk of a big end-of-year bill from the IRS. Trump signed an order over the weekend deferring the
Nima Ghamsari, co-founder and chief executive officer of Blend, speaks during the Sooner Than You Think conference in Brooklyn, New York, Oct. 16, 2018. Alex Flynn | Bloomberg | Getty Images Digital lending start-up Blend raised $75 million in fresh funding amid surging demand for streamlined mortgage applications during the coronavirus pandemic. The move values the
RichLegg | E+ | Getty Images Racial and economic inequities have long existed in America’s school systems, and it’s about to get worse, experts warn. With coronavirus cases still high around the country, half of U.S. elementary and high school students will attend school only virtually this fall, according to a study by Burbio, which
In May, the Bureau of Economic Analysis (BEA) released its annual data showing the differences in purchasing power across American metropolitan and non-metropolitan areas in 2018. This data compares how much $100 can buy in different regions and metropolitan areas across the country, which can have a significant effect on the relative impact of different
There’s no denying that modern businesses that leverage big data technology have seen revenue boosts and significant cost cuts. According to a business survey report published by BARC, companies using big data saw a profit of 8 percent and a 10 percent reduction in overall costs. Big data can help companies make better financial decisions,
A new report from the IRS Small Business/Self Employed Division reveals that in Fiscal Year 2019 the division devoted attention to the agency-wide issue of non-filers and fraud. The report, a 28-page overview billed as annual from now on, focuses on program highlights, priorities and accomplishments of the SB/SE organization and its employees. SB/SE services
Key Findings The fiscal responses to the COVID-19 pandemic will require policymakers to consider what revenue resources should be used to fill budget gaps. Tax policy experts have proposed wealth taxes, (global) corporate minimum taxes, excess profits taxes, and digital taxes as opportunities for governments to raise new revenues. Instead of designing novel taxes, however,
Using a slow shutter speed an attendee is blurred as he walks by the Kodak booth during CES 2018 at the Las Vegas Convention Center on January 10, 2018 in Las Vegas, Nevada. David Becker | Getty Images Shares of Eastman Kodak plunged more than 40% during premarket trading on Monday after a federal agency
- 1
- 2
- 3
- …
- 47
- Next Page »