The economy created jobs at a much slower than expected pace in September, with payrolls rising by just 194,000 in the month compared to the Dow Jones estimate of 500,000, the Labor Department reported Friday. Looking at the most recent numbers by state, it’s clear that some places are lagging far more behind than others.
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Many states recently enacted “SALT cap workaround” legislation enabling pass-through entities (PTE) to deduct entity-level SALT payments as a business expense in place of non-deductible itemized deductions over the “SALT cap” of $10,000 per individual tax return. Currently, 20 states have enacted this legislation, and others are considering it. The SALT cap workaround is not
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U.S. stock index futures were flat during overnight trading on Thursday as Wall Street awaits Friday’s key September jobs report. Futures contracts tied to the Dow Jones Industrial Average gained 19 points. S&P 500 futures were up 0.06%, while Nasdaq 100 futures advanced 0.08%. Stocks advanced during regular trading on Thursday as Washington reached a
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Ariel Skelley A popular retirement savings tactic is on the chopping block in Congress, and investors are eyeing the strategy before it disappears. But there are other things to consider before making changes, financial experts say.   Currently, investors can skirt the income limits for a Roth individual retirement account by using a so-called backdoor maneuver. 
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A Social Security Administration office in San Francisco. Getty Images The Social Security cost-of-living adjustment for 2022 could be the biggest in decades. However, that increase to monthly checks will not be enough, according to The Senior Citizens League, a nonpartisan advocacy group. Now, in a letter sent to members of both the House of
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As public pensions across the nation continue to spiral downward, pension trustees and participants, unions, and taxpayers in states including Alabama, California, Florida, Kentucky, Illinois, Ohio, North Carolina and Rhode Island are increasingly raising their voices to urge the SEC to stop rampant mismanagement of pension investments and looting by Wall Street. While the SEC
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Today’s column addresses questions about the potential effects of pensions on the availability of spousal benefits, statistics about what benefit amounts different people receive and potential effects of filing for survivor’s benefits early and while working. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning,
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