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.
(Reuters) - CSX Corp's shares tumbled on Friday in premarket trading after the No. 3 U.S. railroad said Chief Executive Hunter Harrison was taking medical leave for unexpected complications from a recent unspecified illness. The leave comes amid
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.
Marko Kolanovic, JPMorgan global head of derivatives and quantitative strategies, discusses his bullish target for the S&P 500.
China’s top smartphone makers are ready to challenge Apple Inc. on its home turf after trouncing the iPhone maker in their own market. Huawei Technologies Co. and Xiaomi Corp. are in talks with U.S. wireless operators about selling flagship smartphones to American consumers as soon as next year, according to people familiar with the matter. The handset makers are negotiating with carriers including AT&T Inc. and Verizon Communications Inc., said the people, asking not to be identified because the matter is private. Talks are still fluid and it’s possible no agreements will materialize, they said. Apple has a lot at stake in the U.S., where it is the leading smartphone maker. In years past, it’s
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.
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. (NYSE: 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. That didn't go well with the Union. 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. Hoffa wrote that the decision was made "apparently, without any
Federal Reserve Chair Janet Yellen sheds light on how investors should think about stock market valuations. For some time, the Federal Reserve has been acknowledging that stock market valuations are high. Fed Chair Janet Yellen reiterated this during a Q&A session at the end of the Federal Open Market Committee (FOMC) meeting on Wednesday.
The biotech industry witnessed a rebound in 2017 from last year’s challenges despite rising competition, pipeline setbacks, pricing pressure, slowdown in growth of mature products and generic competition for certain key drugs. The stock has a Growth Score of B and is currently valued at $17.57.
Here are 5 stocks added to the Zacks Rank #1 (Strong Buy) List today:Sucampo Pharmaceuticals, Inc. (SCMP): This biopharmaceutical company has seen the Zacks Consensus Estimate for its current year earnings increasing more than 100% over the last 60 days
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.
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.
Boeing hinted Thursday that it might have lost a major order from Delta Air Lines to its Airbus based on the lower prices of the European rival's airplanes. In a statement after the Atlanta-based airline announced its order for 100 Airbus A321 jets, Boeing noted its offer to Delta for the 100 Boeing 737 Max jets had been "strong but disciplined." "While Delta has chosen to go with Airbus and Bombardier in recent single-aisle campaigns, we are proud of the 737 Max family’s superior value and performance," Boeing said. "We’re pleased with the significant amount of order wins at Boeing this year." Translation: Boeing refused to cut its prices too low for airplanes it believes are superior to Airbus
CNBC's Meg Tirrell reports on Teva announcing cutting 14,000 jobs as the company aims to save $3 billion.
December marks the 10-year anniversary of the Great Recession, and the onset of all the losses it brought: jobs, wages, homes, credit scores, and so much more. At the center of the recession, and the financial crisis that rocked markets in 2008, was the housing bubble. Now, by many measures, housing has healed. Home prices have surpassed their bubble-era peaks in many, though not all, metro areas. The homeownership rate seems to have hit bottom and has climbed two quarters in a row. And foreclosures, by one measure, fell to the lowest ever in the third quarter. But this chart tells a different story. The number of homeowners who are underwater on their mortgage – meaning they owe a lender more
What a year it's been for Bitcoin. The cryptocurrency has continued to soar from lows of $778 in January 2017 to record highs of more than $17,000 on Dec. 12. As we move forward into 2018, there are a number of Bitcoin developments worth monitoring, not all of them having to do with just its price. Perry Woodin, CEO of Node40, a blockchain governance and cryptocurrency tax compliance company based in New York, believes 2018 will be the year of mass public awareness for Bitcoin and cryptocurrency in general. "It is going to be the year when every friend and relative will want to know how much you have and how to purchase it. The topic of Bitcoin is going to be the ultimate water-cooler conversation,"
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.
The deal brings to a close more than half a century of expansion by Murdoch, 86, who turned a single Australian newspaper he inherited from his father at the age of 21 into one of the world's most important global news and film conglomerates. The new, slimmed down Fox will focus on TV news and sport. Early indications are that the deal will not face strong resistance from antitrust regulators as AT&T Corp's bid to acquire Time Warner Inc has done.
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.
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.
Mortgage buyer Freddie Mac said Thursday that the benchmark 30-year home loan rate was down from 3.94 percent last week and 4.16 percent a year ago. The rate on five-year adjustable-rate mortgages rose to 3.36 percent from 3.35 percent last week and 3.19 percent a year ago. On Wednesday, the Federal Reserve raised short-term interest rates for the third time in 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.
Asian stocks were mixed on Thursday after the Fed raised rates again, meeting investor expectations but providing few surprises. Hong Kong's Hang Seng rose 0.1 percent to 28,258.05 but the Shanghai Composite in mainland China lost 0.2 percent to 3,297.78. FED RAISES: In a widely expected move, the Federal Reserve raised its benchmark rate for the third time this year, by increasing its short-term rate by a quarter point.