Valerie Dickerson of Deloitte Tax LLP discusses key developments in state tax policy from 2022 that will likely remain relevant in 2023, including new incentives from the CHIPS and Science Act. This transcript has been edited for length and clarity. David D. Stewart: Happy New Year from Tax Notes. I’m David Stewart, editor in chief
Month: January 2023
The 939 Coast complex rises above La Jolla Cove Beach along the Southern California coast. The oceanview condo building is a local landmark, a secure haven and, for many, a home. Located along Coast Boulevard, the high-rise building is located in the Village of La Jolla and … [+] within walking distance of local dining
An aerial view shows the damage after rainstorms caused a levee to break, flooding Sacramento County roads near Wilton, California, U.S., January 1, 2023. Fred Greaves | Reuters Another atmospheric river storm is threatening California with flooding, landslides, and power outages on Wednesday as millions of residents recover from several destructive storms, one of which caused
In this article COIN NYT Follow your favorite stocksCREATE FREE ACCOUNT Coinbase signage in New York’s Times Square during the company’s initial public offering on the Nasdaq on April 14, 2021. Robert Nickelsberg | Getty Images Coinbase settled a case with New York’s state financial regulator, the parties announced Wednesday, and will pay a $50
This could be a very good year for one lucky winner of the fourth-largest jackpot in Mega Millions history. And yet, kicking off 2023 with $785 million could have a downside. “The curse of the lottery losers is very real,” said Andrew Stoltmann, a Chicago-based lawyer who has represented several recent lottery winners. One of
In this article 9961-HK BIDU 9999-HK JD BABA Follow your favorite stocksCREATE FREE ACCOUNT Alibaba has faced growth challenges amid regulatory tightening on China’s domestic technology sector and a slowdown in the world’s second-largest economy. But analysts think the e-commerce giant’s growth could pick up through the rest of 2022. Kuang Da | Jiemian News
While some Americans are still recovering from holiday festivities, many others may have lingering effects of spending regrets. Overall U.S. retail sales increased 7.6% year-over-year between Nov. 1 and Dec. 24, according to the latest Mastercard SpendingPulse survey. For many consumers, the amount of debt they took on to pay for holiday purchases grew as well.
A pink Nezha V and black Nezha U Pro electric car models are on display at a store in Shanghai on Nov. 7, 2021. Costfoto | Future Publishing | Getty Images BEIJING — Another budget-priced electric car brand is taking off in China, this time selling compact SUVs. Nezha, named after a feisty Chinese mythological
London Stock Exchange Toby Melville | Reuters LONDON — The U.K. economic contraction of 2023 will be almost as deep as that of Russia, economists expect, as a sharp fall in household living standards weighs on activity. In its 2023 macro outlook, Goldman Sachs forecast a 1.2% contraction in the U.K. real GDP over the
Craig Warga | Bloomberg | Getty Images Manhattan apartment sales fell by 29% in the fourth quarter, sparking fears of a frozen market in which buyers and sellers stay on the sidelines due to economic and rate fears. There were 2,546 sales in the quarter, down from 3,560 last year, according to a report from
President Joe Biden signed a $1.7 trillion legislative package on Dec. 29, 2022 that has several updates for retirement savers. Drew Angerer | Getty Images News | Getty Images A new law is changing rules governing how and when certain retirement savers can withdraw money from their nest eggs. Tax-advantaged accounts earmarked for people’s golden
Lisa Rein, Alice Crites, and Jennifer Jenkins of The Washington Post have written an excellent exposé of Social Security’s treatment of the disabled and poor, including its use of archaic job-availability lists to deny benefits to obviously terribly disabled people and its imposition of astronomical penalties on a range of people, many poor or disabled,
Sales of luxury homes fell 38.1% year over year during the three months ending November 30, 2022, the biggest decline on record, according to a new report from Redfin, a technology-powered real estate brokerage. That outpaced the record 31.4% decline in sales of non-luxury homes. Redfin’s data goes back to 2012. The luxury market and
CNBC’s Jim Cramer on Tuesday said that certain commodities could make a comeback soon. “The charts, as interpreted by Carley Garner, tell us that the boom and bust cycle in commodities never stops, and right now that’s good news for oil, … natural gas and wheat prices,” he said. Commodities markets were volatile last year
In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Tesla electric cars in Germany on March 21, 2022. Sean Gallup | Getty Images News | Getty Images Tesla just published its fourth-quarter vehicle production and delivery report for 2022. Here are the key numbers. related investing news Pro Picks: Watch all of Tuesday’s big
Ether has hugely outperformed bitcoin since both cryptocurrencies formed a bottom in June 2022. Ether’s superior gains have come as investors anticipate a major upgrade to the ethereum blockchain called “the merge.” Yuriko Nakao | Getty Images U.S. banking regulators warned financial institutions on Tuesday that dealing with cryptocurrency exposes them to an array of
Anadolu Agency | Anadolu Agency | Getty Images Mega Millions players may be daydreaming about what they’d do with an extra $785 million, the game’s current jackpot amount. One way they should count on using it if they win? Sharing a slice with the IRS. After no tickets matched all six numbers drawn Friday night,
Valentinrussanov | E+ | Getty Images As the Federal Reserve continues to hike interest rates, you may assume you’re earning more on the money in your savings account. But that may not be the case. related investing news Baird upgrades Block, says ‘The Street loves a comeback story’ Samantha Subin 8 hours ago Carolyn McClanahan,
Is the Secure Act 2.0 a game-changer for retirement savings? A set of modest but real improvements? Or a costly giveaway to the rich? Yes, I’m late to the party in writing about this legislation, included in the omnibus spending bill signed by President Biden last week. Summaries of the key provisions can be found
Grace Perez-Navarro’s career at the OECD began unexpectedly — as many life-changing events do — with a quick, off-the-cuff decision she made on an otherwise routine day in the early 1990s. On that day, Perez-Navarro had settled into what she thought would be a long-haul career handling international tax matters at the IRS’s Chief Counsel