Janet Yellen’s journey to become the first female Treasury secretary in U.S. history moved smoothly through a critical Senate hearing Tuesday, with a vote on her confirmation likely to happen before the end of the week. An audience of mostly friendly legislators questioned Yellen across a variety of topics, from taxation to China to climate
Lev Radin/Pacific Press/LightRocket via Getty Images The state would raise the top tax rate to 10.86%, up from 8.82%, Cuomo said. That would yield a top rate of 14.7% for the wealthiest New York City residents in combined taxes. “[It] would be the highest income tax in the nation,” Cuomo said. This is a developing
Stefani Reynolds/Bloomberg via Getty Images ‘Potentially erroneous’ QBI deductions The IRS allowed business owners to claim $57 million in “potentially erroneous” deductions on 12,980 tax returns filed last year, according to a report publicly released Tuesday by the Treasury Inspector General for Tax Administration. The watchdog urged the tax agency to increase its oversight of
The latest round of stimulus has offered help to individuals, but includes some desperately needed, … [+] and hopefully, very helpful stimulus aimed at small businesses. getty The Consolidated Appropriations Act (CAA) gave us some last-minute fiscal relief, notably $600 stimulus checks for individuals and provisions for some hard-hit areas aimed at mitigating the continuing
Woman power and leadership in today’s human resources Getty By Doug Sheppard, Tax Notes State commentary editor They say accountants are boring. But when Maureen Pechacek retired from PwC LLP on June 30, her 39-year legacy included helping build a prominent state and local tax practice for a major accounting firm, speaking at numerous tax
Depending on where you live, selling a home this year might be more challenging than usual. You may be in a time crunch to sell your current home and liquidate that asset. You may be in a buyer’s market with plenty of competition. You may live in an area where open houses and broker events
BlueNalu’s whole-muscle, cell-based yellowtail amberjack. Source: BlueNalu First, it was lab-grown chicken. Now, it’s seafood. San Diego-based food startup BlueNalu said Tuesday that it raised $60 million in convertible note financing, as it prepares for a possible market launch later this year. “This recent financing will allow us to continue advancing our mission and the
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs reported fourth-quarter earnings before the opening bell on Tuesday. Here are the numbers: Earnings: $12.08 a share, vs. $7.47 per share expected, according to Refinitiv.Revenue: $11.74 billion, vs. $9.9 billion estimate. Expectations
In this photo illustration, a visual representation of digital cryptocurrency Bitcoin (BTC) is arranged on a circuit board of a hard drive. Yuriko Nakao | Getty Images Bitcoin and U.S. tech stocks are viewed by investors as the biggest market bubbles right now, according to a Deutsche Bank survey released Tuesday. The survey, which is
An 8500 series oil rig ENSCO Elon Musk’s SpaceX bought two deepwater oil rigs last year and is converting them into floating launchpads, to support the enormous Starship rockets that the company is developing. The rigs are in the Port of Brownsville, near SpaceX’s Starship development facility in Boca Chica, Texas. The rigs have been
Democratic candidates for Senate Jon Ossoff (L), Raphael Warnock (C) and US President-elect Joe Biden (R) bump elbows on stage during a rally outside Center Parc Stadium in Atlanta, Georgia, on January 4, 2021. Jim Watson | AFP | Getty Images Wealthy Americans worried about the prospect of higher estate and gift taxes might have
In his first days in office, President-elect Joe Biden plans to sign an executive order to reopen schools. However, it’s not just a matter of federal funding. Vaccinating teachers remains one of the biggest hurdles to returning kids to classrooms. As Covid-19 cases spike across the country, the Centers for Disease Control and Prevention have prioritized
getty There are three risks that are most likely to derail retirement plans. The risks are real and substantial, almost regardless of an individual’s net worth. Fortunately, the potential damage from the risks can be reduced. Longevity risk is talked about a lot by economists and financial advisors but not by many retirees and pre-retirees.
Economic Security Planning, Inc. Today’s column addresses questions about potential effects of filing for early retirement benefits on a spouse’s benefit, when reductions for filing early can and cannot be lifted and retirement benefit estimates on SSA’s website. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic
Exterior Mike Helfrich The stretch of sand frequently referred to as Billionaire’s Beach has a new listing to add to the books. Robert E. Smith, founder of Vista Equity Partners, has put his four bed, five bath home on the market for $24.5 million after purchasing it two years ago for $18.7 million. This was
Snow lies in front of the entrance to the Garmisch-Partenkirchen hospital. A possibly new variant of the coronavirus has been discovered at the Garmisch-Partenkirchen hospital. Samples are currently being examined at the Charité hospital in Berlin, the hospital announced on Monday. picture alliance | picture alliance | Getty Images Germany is the latest country to
Zach Perret, CEO and co-founder of Plaid, speaks during the Silicon Slopes Tech Summit in Salt Lake City, Utah, U.S., on Jan. 31, 2020. George Frey | Bloomberg via Getty Images LONDON — Financial technology start-up Plaid plans to more than double its European workforce this year, even after scrapping a deal to be acquired
getty The $15 minimum wage, on the agenda of activists for upwards of a decade and now a part of President-Elect Biden’s covid-relief plan, is, depending on who you listen to, either a boon to workers or the source of substantial lost jobs. After all, a CBO analysis from 2019 concluded that both effects would
These cities are most threatened to face the crisis of no availability to tap water, also known as … [+] Day Zero. Procter & Gamble Day Zero, the day when tap water will no longer be available, has happened in several places in the world in recent years and is predicted to start afflicting more
President-elect Joe Biden’s Covid Advisory Board member Dr. Celine Gounder slammed the Trump administration’s piecemeal Covid response as some states across the U.S. scramble to get the vaccine doses they need. “I think we’ve already had too much of a patchwork response across the states,” Gounder said in a Monday evening interview on “The News