Month: April 2020

A recent report outlines to what extent OECD countries rely on various tax revenue sources. Today’s map looks at property tax revenue in European OECD countries, which, compared to other types of taxes, accounts for a relatively small share of total tax revenue. In 2018, property taxes accounted on average for only 4.6 percent of tax
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The federal government initially reacted to the coronavirus crisis by enacting three legislative responses: first, the Coronavirus Preparedness and Response Supplemental Appropriations Act, then the Families First Coronavirus Response Act, and finally, the Coronavirus Aid, Relief, and Economic Security, or CARES, Act, all of which provide a mix of myriad benefits. And at press time,
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General Electric reported Wednesday a steep declines in first-quarter revenue and earnings as the industrial giant took a hit amid the coronavirus pandemic.  The company posted a total revenue of $20.524 billion, which represents a year-over-year decline of 8%. GE Industrial profits fell 46% year over year to $1.096 billion from $2.017 billion. On an
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The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero in response to the economic shock from the coronavirus crisis. “The most significant responsibility of the Fed now is to make sure that credit markets continue to function,” said Greg McBride, chief financial analyst at Bankrate.com. “Without functioning credit markets, there will be no economic
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Letting good employees go is always difficult for small business owners. There can be a number of reasons, not just economic. Deb Boelkes is the author of Heartfelt Leadership: How to Capture the Top Spot and Keep on Soaring. She’s an entrepreneur whose background includes over 25 years in Fortune 150 high-tech firms. How to
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This week’s map looks at another barrier to business and consumer recovery: capital stock taxes. These taxes impair economic growth in the best of times, but during an economic contraction they are particularly harmful to businesses struggling to remain viable. As many businesses may need time to return to profitability after the crisis, states should
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The Internal Revenue Service announced that it is delaying its Special Enrollment Examination tests for Enrolled Agents due to the ongoing novel coronavirus pandemic shutting down its testing centers. “Because test centers are closed, the 2020-2021 test window will not start on May 1,” the IRS said in a statement Wednesday. “Those candidates who already
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The favorite tax tool being used by Congress for helping businesses through the coronavirus crisis is the payroll tax, not the income tax. While individuals are receiving advances on their new income tax credit, businesses are receiving advances on a variety of new payroll tax credits. Sorting through that variety and the choices for advances
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Investors should look to sectors that lately have been “completely eviscerated” as the U.S. economy seeks to recover from the coronavirus crisis, Morgan Stanley’s Mike Wilson told CNBC on Tuesday.  “We’re bullish overall, and we just think there’s more upside in potentially some of the laggard areas,” Wilson said on “Fast Money.” “That’s not saying anything bad
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Image Source | Getty Images When it comes to coronavirus stimulus checks, many say $1,200 isn’t enough. Millions of those one-time payments are still on their way to Americans. The coronavirus shutdown, however, could have economic effects for months. Now, political leaders are turning to proposals for putting more income in Americans’ hands. “Others have
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