Millions of employees could be in for a rude surprise next April when they find out their home office isn’t deductible and the states can’t agree on who gets their money. Time to put a tax pro on speed dial? It’s very likely that you’re reading this from your home—even if you’re working. As the
Month: August 2020
President Donald Trump speaks during a news conference at the White House on Monday, Aug. 10. Stefani Reynolds/CNP/Bloomberg via Getty Images President Trump’s executive order to boost unemployment benefits would give jobless Americans $708 a week in total aid, on average. Yet some may get less or none at all, given many caveats to the
Somerville’s Main Street on June 2. A sign posted to the lamp post from the Downtown Somerville Alliance advertises curbside pickup and takeout. Downtown Somerville Alliance The pandemic is still raging on in the U.S., yet 64% of small business owners on Main Street are confident that they can survive for more than a year
Inquiries to contractors for deck, patio and porch improvements nearly tripled this Spring over … [+] 2019. Photo Courtesy of Deckorators; deckorators.com // Wellness by Design (Tiller Press), (c) J. Gold It may seem counterintuitive that interest and activity in home projects is soaring when millions of Americans have lost their jobs, are waiting in
A JetBlue Airways Corp. plane taxis next to American Airlines Group Inc., Delta Air Lines Inc., and Alaska Airlines Inc. aircraft at Reagan National Airport (DCA) in Arlington, Virginia, U.S., on Monday, April 6, 2020. Andrew Harrer | Bloomberg | Getty Images U.S. airline stocks Tuesday hit their highest prices since mid-June, but the rally,
People wearing protective masks walk along the Jubilee Bridge at the Marina Bay waterfront on June 7, 2020 in Singapore. Suhaimi Abdullah | Getty Images Singapore’s three largest banks reported a sharp fall in second-quarter net profits compared to a year ago as they beefed up reserves in anticipation of the challenges ahead. The trio —
Boy amongst watermelons in Ajijic, Mexico Chuck Bolotin This morning, from the viewpoint of our master bedroom, I woke up to a spectacular view of Lake Chapala, in the Mexican highlands. There had been a light rain the night before. Scanning past our expansive, freshly mowed lawn with the newly planted palm trees my wife had the
Angel Gurria, General Secretary of the Organisation for Economic Co-operation and Development … [+] (OECD), gestures as he presents the OECD Economic Outlook at the OECD headquarters in Paris on May 21, 2019. – Global trade tensions and political uncertainty are weighing on the world’s economy, the OECD warned on May 21, 2019, cutting its
seksan Mongkhonkhamsao Americans should be wary of fraud as Washington lawmakers debate the contours of another round of potential financial relief, according to an alert issued Tuesday by the Federal Trade Commission. Consumers should be cautious of solicitations asking them to pay for access to certain financial assistance, like stimulus checks and job opportunities, according
Virginia Ali, co-owner of Ben’s Chili Bowl, one of the many Black-owned businesses on Avenue U in Washington D.C., sits near photos of her and her husband Ben, on June 15, 2020. Numerous studies have shown that African-American entrepreneurs, particularly in the service sector such as restaurants, have suffered most severely from the economic and
Former Theranos founder and CEO Elizabeth Holmes (L) leaves the Robert F. Peckham U.S. Federal Court on June 28, 2019 in San Jose, California. Justin Sullivan | Getty Images Seven months and nine days from now Elizabeth Holmes will face charges that she defrauded investors of her blood-testing company Theranos. That was the decision on
2020 has been a challenging year for everyone, but especially for those who found themselves sheltering in place in a too-tiny home, or stuck in a city that completely shut down due to COVID-19. In major cities, I’ve seen a huge uptick in people retreating to their more spacious suburban homes, which were usually reserved
Russia said it will produce thousands of coronavirus vaccines per month before the end of the year. Carol Smiljan | NurPhoto | Getty Images Scientists and public health officials are skeptical about Russian President Vladimir Putin‘s claim that the country’s potential vaccine for the coronavirus “works quite effectively,” saying Tuesday that the vaccine still needs critical testing to
President Donald Trump speaks at an Aug. 10 White House news conference. Alex Wong | Getty Images News | Getty Images An extra $400 Trump’s executive order was one of four measures signed on Saturday to address jobless benefits, evictions, student loans and payroll taxes. Top Democratic lawmakers and White House officials have struggled to
By Randy Rieland, Next Avenue Contributor getty Not everyone who cares for a family member or friend with dementia or a chronic medical condition joins a support group. In fact, most don’t. But people who do, often have made deep connections with those with whom they’ve shared the confusion, frustration and even the anger they
Economic Security Planning, Inc. Today’s column addresses questions about withdrawing an application after revising filing plans, potential effects of the Windfall Elimination Provision (WEP) and the Government Pensions Offset (GPO) and divergent SSA benefit estimates. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc,
Alaina Lattin and her family Alaina Lattin was served an eviction notice last month at her home in Conroe, Texas. “It was a very loud banging,” Lattin, 32, said. “They just kept screaming, ‘Leasing office! Leasing office!'” Now, the single mother is worried that she and her four children will become homeless. Lattin is one
US President Donald Trump signs executive orders extending coronavirus economic relief, during a news conference in Bedminster, New Jersey, on August 8, 2020. JIM WATSON | AFP | Getty Images Self-employed people shouldn’t count on the payroll tax break President Donald Trump has issued via an executive order — at least not yet, tax experts
President Donald Trump’s executive order to defer the collection of payroll taxes from employees through the end of 2020 has created more questions than answers for businesses and their employees. Normally, payroll tax is a 6.2% tax on a employee’s salary (up to $137,700 annually for 2020) is withheld from their paycheck to fund Social
A worker wearing a protective mask adjusts a torque wrench inside the service area at a Harley-Davidson dealership in Oakland, California, on Thursday, July 16, 2020. David Paul Morris | Bloomberg | Getty Images The dark side of good earnings: Companies are talking about turning “furloughs” into permanent layoffs. You knew this was coming. It’s
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