Tag Archives: taxes

U.S. House Ways and Means Committee Chairman Richard Neal (D-Mass.) promises the $3.5 trillion budget reconciliation bill will, “both address our perilously changing climate and create new, good jobs, all while strengthening the economy and reinvigorating local communities.” But Maya MacGuineas, the president of the nonprofit Committee for a Responsible Federal Budget, said politicians are punting on taxes and the promise to bring the bill in on budget. “What we’re seeing coming out of the… Source link

The threat of higher taxes in 2022 and their impact on the bottom lines of companies — and potentially the stock market — has returned to center stage after a summertime slumber.  But by and large, investors don’t appear to either care or don’t realize the risks to companies associated with higher taxes.  “The market appears to be only partially pricing an increased tax rate in 2022,” said Goldman Sachs chief U.S. equities strategist David Kostin in a research note on Monday. “Prediction… Source link

Wealthy people are bracing for potentially higher taxes that could hit their bank accounts as soon as this year, while lower- and middle-income Americans could end up enjoying tax breaks from Uncle Sam that were originally only temporary. Last week, the House passed a $3.5 trillion budget plan that may ultimately include numerous Democratic proposals for taxing high-income earners and corporations and expanding tax credits for middle- and low-income earners. Democrats are still writing the… Source link

The big takeaway from the past week in business news is that A) secretly released documents show that billionaires aren’t paying their fair share in taxes. (Gee, you think?) And meanwhile, B) hotels and restaurants and other businesses can’t find enough people to work as maids and dishwashers, etc. If that doesn’t get your “hmmm” juices flowing, I don’t know what will. Let me explain by first going through the A and B elements and then speak to how they’re connected.  The billionaire… Source link

During his campaign for president, John Delaney once described himself as a “solutions-oriented moderate.” His policy ideas, which were numerous, didn’t gain traction during an election often dominated by more liberal voices. Delaney himself was out of the race by January 2020 but once all was said and done, a fellow moderate — Joe Biden — ended up with the nomination and the presidency. In an interview with Yahoo Finance this week, Delaney, a former Maryland Congressman who now… Source link

President Joe Biden hasn’t hidden his desire to raise taxes on corporations and the wealthy to fund a $2.3 trillion infrastructure package and new social safety net programs.  The administration has consistently floated lifting the corporate tax rate to 28% from its current rate, a Trump-era low of 21%. More recently, Biden said he is targeting an increase in the capital gains tax on the wealthiest Americans to 43.4%, including a surtax. The existing capital gains tax stands at a top rate of… Source link

TipRanks 2 “Strong Buy” Stocks Around $10 With Triple-Digit Upside Potential The S&P 500 rose to another record high on Friday, and at least one strategist believes we’re at the start of a new bull market. Writing from LPL Financial, chief market strategist Ryan Detrick noted several market-historical points that indicate sustained gains are in the offing. Key among his points are the first quarter returns and the breadth of the current stock rally. On returns, Detrick highlights that… Source link

Retirees who have the most money pay the most in taxes, according to a recent working paper, but they’re not necessarily rich. “Most of the tax burden is carried by the top quintile of households,” Anqi Chen, co-author and assistant director of savings research at the Center for Retirement Research at Boston College, told Yahoo Money. But “it’s important to keep in mind that when we think about the top quintile of households — the top 20% — they’re not the super wealthy.” Read… Source link

TipRanks Strong Insider Buying Could Indicate a Bottom in These 2 Stocks Every investor knows that the path toward profits lies in buying low and selling high. That’s a basic precept of any economic trading system. The trick, however, is recognizing when the stock is low enough to buy in. The prime moment to buy is when the stock hits bottom; that will maximize returns when the share price starts to rise again. There are a multitude of possible clues investors can use to find the price… Source link

The IRS extended the filing deadline for 2020 taxes from April 15 to May 17, giving American taxpayers an extra month to prepare their returns. For the procrastinators, this may be welcome news, but not everyone should take advantage of the extra time. In some cases, filing early is advantageous. Read more: Tax Tips, Free Tools & How To’s One factor to keep in mind is stimulus checks. The IRS uses the information it has on hand to determine your eligibility for a stimulus. If your income in… Source link