The Federal Reserve said Wednesday it will hold its benchmark interest rate near zero through 2022 to help the economy recover from the coronavirus crisis. “The Fed has cut interest rates as low as they are going to go without going into negative rates,” said Greg McBride, chief financial analyst at Bankrate.com. The economic shock from Covid-19 may call for drastic measures,
0 Comments
The coronavirus pandemic has left states and localities in dire straits financially and lawmakers are getting creative in their pursuit of new revenue sources. Sports betting is one such source. However, it is very unlikely that revenue from sports betting will have any meaningful impact on budget shortfalls. States legalizing sports betting in the hopes
0 Comments
As the public grows more supportive of recreational marijuana, states deciding to legalize it must figure out their approach toward taxing cannabis sales. Eleven states (Alaska, California, Colorado, Illinois, Maine, Michigan, Massachusetts, Nevada, Oregon, Vermont, and Washington) and the District of Columbia have legalized the use and possession of recreational marijuana, but only nine of these jurisdictions
0 Comments
A pedestrian passes by the New York Stock Exchange, NYSE, in New York on March 17, 2020. (Photo by Michael Nagle/Xinhua via Getty) (Xinhua/Michael Nagle via Getty Images) Xinhua News Agency Great Depression-era levels of unemployment. An economy in downward spiral. More than 100,000 dead from a killer virus. Cities in flames amid widespread civil
0 Comments
Jeff Bezos, founder and CEO of Amazon, smiles as he speaks during the Economic Club of Washington’s Milestone Celebration event in Washington, DC, on September 13, 2018. Saul Loeb | AFP | Getty Images Amazon is introducing a new digital credit line for U.S.-based merchants with partner bank Goldman Sachs, CNBC has learned exclusively. Small
0 Comments
On May 15, 2020, the Small Business Administration released the loan forgiveness application for the Paycheck Protection Program. The application contains a great deal of guidance and direction for assisting companies with calculating their loan forgiveness, including helpful worksheets and step by step instructions. Following the release of the application, Congress passed the Paycheck Protection
0 Comments
Nikola Motor’s Tre semi-truck. Nikola Motor Company Speculative traders are betting big that Tesla won’t be the only successful company of the future named for inventor Nikola Tesla. Shares of Nikola Corporation, which makes battery-electric and hydrogen-electric trucks, advanced more than 20% on Tuesday, after more than doubling on Monday. The company began trading on June 4
0 Comments
CPA Canada announced that it was the subject of a cyberattack that exposed personal information from approximately 329,000 individuals. The attackers accessed contact information, including email addresses, that the membership organization held on its website. According to published reports, the information was largely related to the distribution of CPA Magazine, and CPA Canada said that
0 Comments
Around 71% of the 21 million unemployed people in May had been out of work between five and 14 weeks. About 19% have been unemployed for fewer than five weeks. “There aren’t many people who are long-term unemployed,” said Stephen Woodbury, an economist at Michigan State University. “There are gazillions of people that have lost
0 Comments
Key Points: Legal recreational marijuana sales are ongoing in nine states, covering 27 percent of the U.S. population. In 2018, 10.5 percent of adult Americans had used marijuana products in the last 30 days. States have designed different excise tax systems for recreational marijuana. While most tax based on price, states also tax marijuana based
0 Comments
Interest rates will decrease for the calendar quarter beginning July 1, the IRS said. The rates will be: 3 percent for overpayments; 2 percent in the case of a corporation; One-half, or 0.5, percent for the portion of a corporate overpayment exceeding $10,000; 3 percent for underpayments; and, 5 percent for large corporate underpayments. Under
0 Comments