The Republicans' proposed tax bill would change income tax brackets in 2018. In the midst of the political maneuvering, we've calculated how President Donald Trump's tax plan could affect you if tax reform is signed into law. By looking at what Trump's tax plan means for Americans' take-home pay at different income levels, our team at Business Insider got a number of emails that made us realize something important: Most people don't understand how tax brackets actually work.
Delta Air Lines has agreed to a firm order for 100 Airbus A321neo jets. Delta Air Lines announced a firm order for 100 Airbus A321neo airliners on Thursday with a list value of $12.7 billion. "This is the right transaction at the right time for our customers, our employees, and our shareholders," Delta CEO, Ed Bastian said in a statement.
IBM’s (IBM) latest project has it teaming up with some big names. Companies like JPMorgan, Barclays and Samsung will all work together with IBM to uncover practical uses for quantum computing. Ford (F) is denying a Reuters report this morning that the auto giant will build and import Fusion sedans from China to the United States.
Disney has agreed a deal to buy much of 21st Century Fox's studio and television production assets for $52.4 billion. The companies said in a press release that the acquisition would result in at least $2 billion in "cost savings from efficiencies," which could mean layoffs. Disney has agreed a deal to acquire much of 21st Century Fox's studio and television production assets for $52.4 billion.
Maslansky + Partners Lee Carter and Hoover Institute research fellow Lanhee Chen discuss some GOP members holding out on voting for tax reform over the child tax credit debate.
Republican leaders reached an agreement on their final tax bill on Wednesday, making it look more likely that tax reform will be passed before the end of the year. This final bill is the product of a conference committee to reconcile differences between the House and Senate versions that Republicans in those chambers passed. Tax reform is being billed as a boon for America's middle class by Republicans and the White House.
UPS and the Teamsters are at it again, this time over holiday working hours. With record-breaking demand for United Parcel Service Inc. (UPS) following Black Friday and Cyber Week sales, the Atlanta-based shipping giant informed drivers on Dec. 1 that they could be scheduled to work 70 hours over eight days during the holiday season (or the more typical 60 hours over seven days), which is in compliance with DOT regulations. Jim Hoffa, Teamsters General President, expressed his "outrage and concern" in a letter dated Dec. 4 to UPS CEO David Abney about the company bumping up the workweek.
Walmart, the largest private employer in the U.S., will begin allowing its 1.44 million employees to access their paychecks before payday. This policy presents a better alternative to expensive payday loans, but may still encourage people to live beyond their means. After two years of talks with Even, a fintech startup that helps users budget by accessing upcoming pay early, Walmart (WMT) is rolling out the app to its entire workforce.
Apple Inc. customers seem to be opting for cheaper models of the iPhone, according to Cowen and Co. analysis, suggesting that the company failed to cram enough new technologies into the iPhone X to justify the $999 price tag. Waiting times to order the flagship smartphone have shortened to a few days from the five to six weeks that were typical immediately after it was released in November, Cowen analyst Karl Ackerman said in a note to clients. “Some investors may conclude this relates to better sales momentum for the X, but we are increasingly concerned that demand has been below initial expectations as users appear to have gravitated toward the previous iPhone models,‘’ Ackerman wrote.
"We see that 2018 might not be quite so happy for OPEC producers, " the Paris-based organization said in its latest monthly report Thursday. The IEA said that there were signs that the rise in U.S. crude oil supply was likely to continue into 2018 and upset rivals who are cutting back. Major oil producing group OPEC and ten non-OPEC producers led by Russia continue to cut production in order to boost global oil prices and rebalance markets put out of kilter in 2014 by a glut in supply and lackluster demand.
For some soon-to-be retirees, retirement will look a lot like their 9-to-5 life. Nearly 3 out of 4 Americans plan to work beyond traditional retirement age on at least a part-time basis, according to a recent Gallup poll. A separate AARP study found that 37 percent of working Americans ages 50 to 64 said they intend to work after retiring from their current careers .
If you have been planning to buy a car, it might be smart to do it before December 31 so you can deduct the sales tax you pay. Republicans have proposed capping the property tax, state and local income tax, and sales tax deduction to a total of $10,000. Purchasing a car this December might be a smart idea for taxpayers in states with no state income taxes who itemize and claim the sales tax deduction, according to TaxAudit.
At the center of the recession, and the financial crisis that rocked markets in 2008, was the housing bubble. The number of homeowners who are underwater on their mortgage – meaning they owe a lender more than their home is worth – is still more than double what was normal in the years before the bubble. It may seem jarring that more than a million homeowners still haven’t climbed above water so many years after the bubble burst, even in a housing market supposedly starved for inventory.
Deliveries of the single-aisle planes will begin in early 2020 and the transaction includes options for an additional 100 aircraft, Delta said in a statement Thursday. The airline’s decision dealt a setback to Boeing’s efforts to sell its newest 737 model, the Max 10. The A321neo is “the best narrow-body product in the sky,” Delta Chief Executive Officer Ed Bastian said in a presentation to investors.
Thirty-seven years ago Tuesday, Apple Inc. went public, raising a little over $100 million by selling its stock for $22 a share (40 cents on a split-adjusted basis). Some 40 Apple employees became instant millionaires, starting with Steve Jobs, who was suddenly worth $217 million. Apple has since gone on to do many amazing things, and for at least the last decade it has also been an amazing stock, with a market capitalization that last month topped $900 billion, an astounding figure.
In fact, per a study by IHS Markit, mobility services will emerge as a huge industry by 2040, with China as the frontrunner. New mobility services offer customers temporary use of a car that they do not own. Presently, these services are provided through app-based ride-hailing or car-sharing services, such as those offered by Didi Chuxing in China and Uber and Lyft elsewhere.
Simon Derrick, chief currency strategist at BNY Mellon, discusses moves in the U.S. dollar given the latest U.S. Federal Reserve meeting.
Tax reform will remain the key focus for investors as the economic and earnings schedule slow down on Friday. The economics calendar will give investors readings on manufacturing activity in New York State and industrial production in the U.S. while the earnings calendar has no major reports due out. Investors will be closely watching developments out of Washington, D.C. into the weekend, however, as Thursday brought new challenges for Senate Republicans trying to get a deal on tax reform done by the end of 2017.
If you are one of the many individuals who owns bitcoins, or is thinking about buying into the emerging technology, one important thing to note is that the Internal Revenue Service (IRS) does not in fact treat the burgeoning digital currency as a currency. “The IRS … treats [bitcoin] as an asset, like stock,” Dave Du Val, chief customer advocacy officer at TaxAudit, told FOX Business. For tax purposes, virtual currency is treated as property.
Republican are getting closer to passing their massive tax reform plan. Since it's now being reported that the top individual tax bracket would drop to 37%, we updated our analysis to compare the differences among the current system, the House's plan, the Senate's version, and the conference committee's version.
A group of 118 cafeteria workers at Yahoo’s headquarters in Sunnyvale voted this week to unionize. The move was in hopes of negotiating better health benefits and higher wages in the face of rising housing costs in Silicon Valley, the union representing the workers said. “I grew up and live in the east side of San Jose,” Yahoo cafeteria worker Agustina Sanchez said in a statement .
Job site Freelancer said cryptocurrencies have been one of the fastest growing online jobs this year, with 82% growth in the last three months alone. Cryptography, the practice of code breaking central to bitcoin and other cryptocurrencies, has also seen a 59% increase in interest on the site in the third quarter. Bitcoin and other cryptocurrencies run on the blockchain, a decentralized technology that creates a public ledger using a crowd-sourced system of computers.
President Donald Trump's tax plan could go into effect as early as January 1, 2018, if Republicans manage to pass their final tax reform bill. Ahead of the looming changes, taxpayers can make end-of-year tax moves now, such as pre-paying their property taxes for next year. If your property tax bill is greater than $10,000, you'll be able to deduct more by paying next year's bill early.
The breakup of 21st Century Fox Inc. reveals the divergent mindsets of the father and son who run it: Rupert Murdoch, the conservative mogul enamored with the political news business and the immense TV-advertising profits it generates. Rupert Murdoch's decision to sell the entertainment side of the empire he built to Walt Disney Co. -- in what amounts to a complex $66 billion transaction -- is telling in what it suggests about where he sees the TV industry heading and Fox's ability to sustain its viewer base without having the scale of a Disney or Netflix Inc. (He tried to get that scale with a prescient but failed bid for Time Warner Inc. in 2014). James and I have had a lot of conversations about the future of these companies.
In case you missed it, Sears announced it was pushing out a debt maturity from 2018 to 2019. All in, it's a huge sign that Sears could be hanging "going out-of-business" signs in many more stores in 2018. Sears stock tanked almost 6% on Tuesday as the plans were likely leaked (this stuff is always leaked) -- it would be shocking if the stock doesn't dive again Wednesday.