Yahoo Finance Plus Now that Boris Johnson has bid “hasta la vista, baby,” the two Conservative Party contenders to replace him as U.K. prime minister – Liz Truss and Rishi Sunak – are clashing on issues such as taxes, rising inflation and climate change, offering up different solutions to problems affecting countries around the world. Photo composite: Daniel Orton
Summers pointed to the carried interest loophole and private equity carve out.
Senate Democrats passed the Inflation Reduction Act. Americans could benefit from lower prescription drug and energy costs if the IRA becomes law.
Yahoo Finance's Julie Hyman breaks down leading headlines on Trump's deposition, Microsoft's cost-cutting measures, and Deliveroo quarterly results.
(Bloomberg) -- US inflation decelerated in July by more than expected, reflecting lower energy prices, which may take some pressure off the Federal Reserve to continue aggressively hiking interest rates.Most Read from BloombergMusk Sells Another $6.9 Billion of Tesla Ahead of Twitter TrialUK Plans for Blackouts in January in Emergency Energy PlanRussia Is Scouring the Globe for Weapons to Use Against UkraineTrump Under Intense Legal Scrutiny After FBI Searches Mar-a-LagoDozens in China Infected
Donald Trump released a statement Wednesday saying that he's invoking his Fifth Amendment right not to answer questions from the New York attorney general, who's investigating his business practices.
States vary widely in the way they tax retirement income so location is an important consideration in financially planning for retirement. Some states don't levy income states on any sort of retirement income, while others tax IRA and 401(k) distributions, … Continue reading → The post 11 States That Do Not Tax Retirement Income appeared first on SmartAsset Blog.
Get ready. Anything can happen.
While the disruption of Russian crude to Europe added upward pressure to oil prices, rumors of a new Iran nuclear deal could soon send prices falling
(Bloomberg) -- Oil and gas executives from Exxon Mobil Corp. to Occidental Petroleum Corp. have been quick to applaud parts of the $437 billion climate, tax and health-care legislation that Congress is poised to pass this week. Most Read from BloombergMusk Sells Another $6.9 Billion of Tesla Ahead of Twitter TrialUK Plans for Blackouts in January in Emergency Energy PlanRussia Is Scouring the Globe for Weapons to Use Against UkraineTrump Under Intense Legal Scrutiny After FBI Searches Mar-a-Lago
The new budget bill will give the IRS more funding than it has received in decades.
Depending on your age, if your income is below a certain threshold, you may not have to pay taxes. Here's what you need to know.
(Bloomberg) -- The proposed new minimum tax on corporations and fees for methane emissions, both of which are in a sweeping bill passed by the US Senate this week, could make life impossible for many small US oil and gas producers, according to one of the country’s biggest independent producers.Most Read from BloombergTrump Under Intense Legal Scrutiny After FBI Searches Mar-a-LagoUK Plans for Blackouts in January in Emergency Energy PlanTrump Search Was Unprecedented, But Records Case Will Be T
UKRAINSKA PRAVDA - TUESDAY, 9 AUGUST 2022, 13:05 Dmitriy Peskov, the press secretary of the President of the Russian Federation expressed the Kremlin's irritation about the fact that the production of Turkish "Bayraktar" combat drones may begin in Ukraine.
BEIJING (Reuters) -China has withdrawn a promise not to send troops or administrators to Taiwan if it takes control of the island, an official document showed on Wednesday, signalling a decision by President Xi Jinping to grant less autonomy than previously offered. China's white paper on its position on self-ruled Taiwan follows days of unprecedented Chinese military exercises near the island, which Beijing claims as its territory, in protest against U.S. House Speaker Nancy Pelosi's visit last week. China had said in two previous white papers on Taiwan, in 1993 and 2000, that it "will not send troops or administrative personnel to be based in Taiwan" after achieving what Beijing terms "reunification".
The U.S. consumer price index was unchanged in July, the Labor Department said Wednesday, a much slower pace compared with the 1.3% gain in the prior month.
To get the Inflation Reduction Act passed in the Senate, Democrats dropped their attempt to kill a controversial tax provision that's known as the carried interest loophole. Also called the carried interest income classification, it has long been a target … Continue reading → The post The Carried Interest Loophole and the Inflation Reduction Act Concession appeared first on SmartAsset Blog.
Overall, the Inflation Reduction Act is a good-sized win for most small businesses and a huge win for some. Rhonda Abrams explains why.
Green stocks are back in the green.
(Bloomberg) -- Range Resources Corp. claims to have one of the cleanest natural-gas operations in the US. Year after year, the western Pennsylvania shale pioneer reports a lower emissions rate for methane than virtually all its peers.Most Read from BloombergMusk Sells Another $6.9 Billion of Tesla Ahead of Twitter TrialUK Plans for Blackouts in January in Emergency Energy PlanRussia Is Scouring the Globe for Weapons to Use Against UkraineTrump Under Intense Legal Scrutiny After FBI Searches Mar-
The main revenue source in the U.S. Senate's newly passed tax, climate and drugs bill is a novel 15% corporate minimum tax aimed at stopping large, profitable companies from gaming the Internal Revenue Service code to slash their tax bills to zero. The nonpartisan Joint Committee on Taxation estimates that the new tax will add around $222 billion to U.S. government coffers over the next 10 years, down from a previous projection of $313 billion after last-minute changes to the bill. It will apply to companies with more than $1 billion in "book income," the profits they report to shareholders before the effects of tax deductions and credits.
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