Taxpayers are allowed to put up to $6,000 in their IRAs during the 2019 tax year. (Those 50 and older can save up to $7,000.) Those contributions are tax deductible, or partially deductible depending on your income and whether your spouse is covered by a workplace retirement account. … [Read more...] about Taxes are due July 15. Here’s what you need to know
Business expense tax deductions
➔ Economic indicators: U.S. jobless claims filed during the week that ended July 4 numbered 1.3 million, down from 1.427 million the week before as states juggle reopenings and possible closings. The number of applications for help under the expanded Pandemic Unemployment Assistance program also jumped, rising by 42,000 to more than 1 million claims (The Hill). … Bed Bath & Beyond announced this week that it will permanently close 200 of its stores within the next two years (The Hill). … Harley-Davidson announced on Thursday it will cut 700 jobs (Milwaukee Journal Sentinel). … Wells Fargo will shed “thousands” of jobs beginning in 2020 (Bloomberg Law). … Kitchenware chain Sur la Table filed for Chapter 11 bankruptcy protection late on Wednesday and plans to close half of its 120 stores while it puts the 50-year-old business up for sale (CNN). … [Read more...] about The Hill’s Morning Report – Presented by Facebook – Justices rule Manhattan prosecutor, but not Congress, can have Trump tax records
"I disagree with @CDCgov on their very tough & expensive guidelines for opening schools. While they want them open, they are asking schools to do very impractical things. I will be meeting with them!!!" Trump said. Centers for Disease Control and Prevention (CDC) Director Robert Redfield later said that his agency would be putting out additional guidance for schools when reopening, although he did not make exactly clear what that would entail. … [Read more...] about Trump threatens tax-exempt status, funding for universities and schools over ‘radical left indoctrination’
The most telling revelation I ever received about Donald Trump was from a New York hedge fund bro for whom I did some occasional speechwriting. In late summer 2015 I went to him and said, “We have to stop this guy. He’s a billionaire. He could fund his own campaign.” The hedge bro looked at me and laughed: “Trumps not a billionaire. … [Read more...] about Trump’s No Billionaire. He’s a Bullshit Artist. And Soon, We’ll Have the Taxes To Prove It.
For years, Britain has carried a sizable current account deficit, which means it spends more on goods, services and investments abroad than it brings in at home. That's now coupled with a worsening fiscal deficit as the country borrows huge amounts to finance its pandemic recovery plans. As of May, Britain's debt was bigger than the size of the entire economy for the first time since 1963. … [Read more...] about Could the United Kingdom become an emerging market?