Congress is heading into a heated debate about how much taxes should be raised to finance President Biden’s Build Back Better agenda. While pragmatic Democrats may not agree with every proposal being considered, there is one that the whole party should unite behind: closing the step-up basis loophole. When investors sell an asset, such as
Here’s a tip of the 10-gallon hat to the American past. This retreat in Bigfork, Montana, draws on the heritage of the Old West with its rugged chinked-log construction. But beyond the exposed beams and reclaimed wood, the log cabin home is all new West – and a modernized model for western living today. The
A TSA agent checks travelers through security at John Wayne Airport in Santa Ana, CA on Tuesday, January 26, 2021. Paul Bersebach | MediaNews Group | Getty Images Air travelers who refuse to wear masks could soon face fines of up to $3,000. The Transportation Security Administration is planning to double fines for travelers who
In this article LULU Lululemon shares surged more than 13% in extended trading Wednesday after the athletic apparel maker reported fiscal second-quarter profit and revenue that topped analysts’ expectations. Consumers are shopping Lululemon stores and the company’s website for its sports bras, jogger pants and leggings for their stay-at-home wardrobes. But many are also seeking
A man looks at GameStop at 6th Avenue on February 25, 2021 in New York. John Smith | Corbis News | Getty Images GameStop staged a stunning intraday comeback from its post-earnings sell-off on Thursday as retail investors looked past the lack of clarity on turnaround plans and piled into the meme star. Shares of
Theranos founder Elizabeth Holmes and her partner Billy Evans leaves the Robert F. Peckham U.S. Courthouse after the delivery of opening arguments in her trial, in San Jose, California, September 8, 2021. Peter DaSilva | Reuters When you hobnob with celebrities and titans of society, you need good jewelry. And former Theranos CEO Elizabeth Holmes
In this article MA The MasterCard logo on a smartphone arranged in Saint Thomas, Virgin Islands. Gabby Jones | Bloomberg | Getty Images Mastercard has agreed to acquire blockchain analytics start-up CipherTrace, in the latest sign of how major companies are warming to cryptocurrencies. The payments giant said Thursday it entered into an agreement to
JGI/Jamie Grill It appears most workers have to wait years for a company’s 401(k) matching contributions to become entirely theirs. The majority (82%) of employers that offer traditional 401(k) plans say they match a portion of their workers’ account contributions, according to a report from human resources firm XpertHR. However, the research shows that just
Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C. Bloomberg | Bloomberg | Getty Images The top 1% of Americans may be dodging as much as $163 billion in annual taxes, according to a report from the U.S. Department of the Treasury. This estimate widens the so-called tax gap — the shortfall between
Today’s column addresses questions about potential retirement benefit rate increases at full retirement age (FRA), spousal benefits based on the record of someone receiving Social Security disability benefits and maximizing benefits after retiring earlier than expected. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,
Today, high-net-worth homebuyers paying eight- and nine-figure prices for estates and trophy properties covet luxury amenities to elevate their lifestyle and personal brand. Forbes Global Properties presents several fine offerings for that discerning buyer. Beverly Hills, California: Art as Architecture This new contemporary Beverly Hills estate in Benedict Canyon offered at $10,750,000 is the latest timeless offering from coveted
A view in the direction of Oudezijds Voorburgwal lined with coffeeshops in Amsterdam. Thomas Imo | Photothek | Getty Images Amsterdam has long been a draw for millions of tourists from Europe and beyond, with many attracted to the city for its canals, architecture and museums and, of course, its plentiful cannabis-laden coffeeshops and unabashed
People walk by a GameStop store in Brooklyn on January 28, 2021 in New York City. Spencer Platt | Getty Images News | Getty Images Video game retailer GameStop said Wednesday its fiscal second-quarter losses narrowed as sales rose from a year ago. Shares of the company fell about 2% in extended trading. For the
Sorare LONDON — Spain’s top soccer league La Liga said on Thursday that it will offer NFTs for all its players, marking the latest foray into cryptocurrencies from a major sports organization. NFTs, or non-fungible tokens, are unique digital assets that are designed to certify ownership of a virtual item, such as rare art or
In this article RKLB An Electron rocket gets ready to launch. Rocket Lab Rocket Lab signed a five-launch contract with European satellite data company Kinéis, in a deal that adds to the space company’s backlog. Kinéis is building an Internet of Things connectivity constellation with 25 satellites, all of which will be launched to orbit
shapecharge | E+ | Getty Images Good news for those struggling to save for retirement may be on the way. House Democrats are including measures to help people prepare for the long term in their $3.5 trillion federal budget plan. The House Ways and Means Committee on Tuesday released legislative proposals for portions of the
Topline The wealthiest Americans are evading hundreds of billions of dollars in taxes each year, the Treasury Department asserted in a report released Wednesday, using the findings to bolster the case for a proposed $80 billion investment to help the Internal Revenue Service improve tax enforcement. Key Facts According to the Treasury’s report, the top
Josephine Gotianun-Yap is plowing ahead with growing her family’s diversified company despite a drag from the pandemic. In August, Filinvest Development president and CEO Josephine Gotianun-Yap made the gutsy call to go ahead with its listing of a REIT, into which it was injecting 17 office towers from its subsidiary Filinvest Land. At $236 million, Filinvest
Dallas Cowboys wide receiver Brandon Smith (80) runs for a first down during the game between the Dallas Cowboys and the Jacksonville Jaguars on August 29, 2021 at AT&T Stadium in Arlington, Texas. Matthew Pearce | Icon Sportswire | Getty Images The National Football League is on the clock and ready to commence its 102nd
A trader works on the floor at the New York Stock Exchange (NYSE) in New York, August 20, 2021. Andrew Kelly | Reuters U.S. stock futures were steady in overnight trading Wednesday as investors remained cautious on the remaining months of trading. Dow futures fell just 9 points. S&P 500 futures were flat and Nasdaq