The question of whether you'll be paying more in taxes under President Donald Trump may hinge on how much you use tax deductions now. The Trump administration Wednesday unveiled the broad outlines of his campaign promise to overhaul the sprawling U.S. tax code with a simpler system that lowers tax rates. It remains to be seen how deeply the plan cuts into the most widely used deductions, which cost the government hundreds of billions of dollars in lower taxes.
In a span of less than four months, Tesla Motors (TSLA) founder and CEO Elon Musk has added $2.3 billion to his personal wealth . Musk is now worth more than $13 billion, according to the Bloomberg Billionaire Index, but it could have worked out very differently. In fact, a crucial decision Elon Musk was forced to make in 2010 when, by his own account, the billionaire was broke, is one of the reasons Musk has been able to cash in on Tesla's rapid share rise this year: Musk held on to shares at the very moment when a sale to raise cash would have made financial sense.
Amazon (NASDAQ: AMZN)'s strong first quarter earnings can be partially attributed to international growth in India, a country that Netflix also needs to boost its subscriber numbers. Amazon posted higher than expected revenue of $35.7 billion on Thursday, compared to a $35.3 billion Thomson Reuters consensus estimate. Amazon CEO Jeff Bezos credited India as one of the reasons for its success in a press release, pointing out the company announced 18 Indian original TV series.