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JPMorgan Chase brought its Advancing Black Wealth Tour to Philadelphia on October 8, 2022. Photo: Steven CW Taylor & Salim Weldon of Steven Taylor Photography A new endeavor from JPMorgan Chase is trying to help close the racial wealth gap. The bank’s Advancing Black Wealth Tour, launched this spring, aims to give attendees the tools they need to manage their […]
You probably know that claiming income tax deductions reduces your taxable income. But did you know that not all deductions are created equal? Maybe you’ve heard the term “above the line” thrown around in tax conversations. Above-the-line deductions are actually adjustments to your taxable income — they are subtracted from your income before your adjusted gross income (AGI) is calculated […]
The Internal Revenue Service hopes to curb the use of robocalling services as a way to cut to the front of the line at the Practitioner Priority Service. The IRS said in an email Friday to tax professionals that it has initiated a pilot program that now requires PPS callers to repeat certain phrases before they’re transferred to an IRS […]
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Removing the snow that has accumulated overnight or throughout the day is hard work for a small business. However, with a good snow blower, the task won’t break your back. If your small business happens to be in a region with heavy snowfall, […]
Getty Images If you’re eager to save more for retirement in 2023, there’s good news from the IRS, which just announced higher limits for your annual 401(k) plan and individual retirement account contributions. The employee contribution limit for 401(k) plans is increasing to $22,500 in 2023, up from $20,500, and catch-up deposits for savers age 50 and older will jump […]
The Internal Revenue Service has raised tax brackets and the standard deduction by about 7% for 2023 as the soaring cost of food, energy and housing continues to batter Americans. That’s the largest increase to the standard deduction since the tax system was first indexed to inflation in 1985, and will reduce the amount of income subject to taxes for […]
Sarah O’Brien hard at work writing about personal finance. Salvatore Agostino One of the best benefits of being a personal finance reporter is my keen ability to recognize the many money mistakes I’ve made in my life. I’ve already divulged a few in the first iteration of this confessional two years ago. While some of my blunders have been worse […]
Many thousands of individuals and businesses felt the wrath of Hurricane Ian and Hurricane Fiona in September, including many tax professionals and their tax clients, making it impossible to meet the Oct. 17 and other impending tax deadlines. The Internal Revenue Service has granted relief by extending the time certain individuals and businesses have to file their returns and pay […]
Electric buses at a charging station. Koiguo | Moment | Getty Images Business owners will be able to avail themselves of a new tax credit for electric vehicles starting next year — and it should be easier to get than a similar tax break for consumer households buying “new clean” passenger cars, according to tax and auto experts. The Inflation […]
The International Public Sector Accounting Standards Board, New York, announced its 2023 board members: Nor Yati Ahmad, Malaysia; Andrew van der Burgh, South Africa; and Jona Wala, Kenya; and reappointed board members: Kamira Muriel Sanchez Nicosia, Panama; Scott Showalter, United States; and Patricia Siqueira Varela, Brazil. Lisa Daniels was appointed vice chair of growth and strategy at KPMG, New York. […]
Gary Burchell | Getty Images Company: Salesforce (CRM) Business: Salesforce is a global leader in customer relationship management (CRM) technology that brings companies and their clients together. It was founded in 1999 and is a pioneer in the cloud software space. It started as a tool to help enable sales teams to increase their productivity while also improving the end […]
When it comes to getting into college, every little bit helps. Often college hopefuls turn to applying early to their top school to gain that edge. By demonstrating a preference to a particular college, studies have shown, an early application can give you a leg up, which goes a long way in the hyper-competitive world of college admissions. “The cohort […]
The Public Company Accounting Oversight Board has named Barbara Vanich as its chief auditor after she served as acting chief auditor for nearly two years. Vanich was named acting chief auditor in November 2020 after serving as deputy chief auditor, associate chief auditor and special advisor. She has been working for the PCAOB since 2009. Before then, she was an […]
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Finding the best pressure washer is critical to maintaining a tidy business location or cleaning your car. We all have different reasons for why we need a pressure washer, so finding the best pressure washer will mainly depend on the use you need […]
Xavierarnau | E+ | Getty Images Social Security benefits will go up by more than $140 per month on average in 2023, as a record 8.7% cost-of-living adjustment kicks in. Exactly how much of an increase the approximately 70 million Americans who rely on the program for income will see will vary. More than 65 million Social Security beneficiaries will […]
CohnReznick, a Top 25 Firm based in New York, has been helping government authorities make sure the funds for large-scale infrastructure projects don’t go astray as spending on such projects ramps up after passage of a federal law last year. Earlier this year, the firm announced it was partnering with GuidePost Solutions on acting as integrity monitors for the $18 […]
Families don’t like to skimp when it comes to the holidays, under any conditions. But with rising prices and fears of a recession, holiday shoppers are feeling less generous this season. Many consumers are planning to make fewer purchases — and at a discount, according to a recent holiday retail report by Deloitte. Still, households will shell out $1,455, on […]
The Internal Revenue Service is boosting the amount that Americans can plow into their 401(k) plans next year amid a surge in inflation. The contribution limits for the popular tax-deferred retirement savings accounts will rise by $2,000 to a maximum of $22,500 in 2023, reflecting the change in the headline consumer price index, the IRS said Friday. It’s the biggest […]
Getty Images If you’re planning to sell investments or rebalance your taxable portfolio, you may be less likely to trigger a tax bill in 2023, experts say. This week, the IRS released dozens of inflation adjustments for 2023, including higher income tax brackets, increased standard deductions, bigger estate tax exclusions and more. The agency also bumped up income thresholds for […]