BUSINESS AND MONEY
Bloomberg Tax & Accounting releases Projected U.S. Tax Rates for 2025, anticipates 2.8% increase from 2024
Bloomberg Tax & Accounting released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% from 2024. This is about half the increase in 2024, and a significant drop from the 7.1% increase in 2023.
Bloomberg Tax’s annual Projected U.S. Tax Rates Report provides early, accurate notice of the potential tax savings that could be realized due to increases in deduction limitations, upward adjustments to tax brackets, and increases to numerous other key thresholds.
The report accounts for changes made under the SECURE 2.0 Act that affect tax planning for corporate taxpayers in certain industries. They include an increase in the threshold amount for qualified salary reduction arrangements under §408(p) from $5,000 to $5,100 and an increase in the qualified long-term care distribution amount under §401(a) from $2,500 to $2,600.
This year’s report projects that several key deductions for taxpayers will see notable year-over-year increases, with the foreign earned income exclusion increasing from $126,500 to $130,000, and the annual exclusion for gifts increasing from $18,000 to $19,000, thereby allowing taxpayers to increase their gifts without tax implications.
“Year after year, our annual report equips tax professionals and taxpayers with crucial forecasts to prepare for the forthcoming year, ahead of the IRS’s official declaration,” said Heather Rothman, Vice President, Analysis & Content, Bloomberg Tax & Accounting. “As inflation continues to impact the tax code, Bloomberg Tax & Accounting offers the research and tools to solve day-to-day workflow issues by providing intelligence exactly where users need it.”
The updated rates flow directly into Bloomberg Tax’s innovative software solutions including Bloomberg Tax Provision, Bloomberg Tax Fixed Assets, and Bloomberg Tax Workpapers. This is an example…
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U.S. Department of Energy Announces $72.8 Million Loan Guarantee to Build Solar-Plus-Storage Microgrid on Tribal Lands
As part of the Biden-Harris Administration’s Investing in America agenda, the U.S. Department of Energy (DOE),
Intel Agency’s Director Discusses Organization’s Post-Declassification Era
If you’ve never heard of the National Reconnaissance Office, you’re not alone. Established by the
Interview With Leandro Iglesias, CEO of iQSTEL
Leandro, iQSTEL has seen impressive growth over the past year. Can you share with us the key drivers behind the company’s 50% revenue increase in 2023?
Thank you. 2023 was indeed a remarkable year for iQSTEL. The 50% increase in revenue, bringing us to $140 million, was largely driven…
More Americans are Living Paycheck to Paycheck Despite Increased Budgeting
Debt.com’s 2024 budgeting survey of 1,000 Americans shows a mixed financial picture. While more people are budgeting and finding it beneficial to stay out of debt, the number of individuals living paycheck to paycheck has risen 10% over the past two years.
In 2022 and 2023, 50% reported living…
Bank of America Named Official Bank Sponsor of FIFA World Cup 26
FIFA has announced that Bank of America will be the Official Bank Sponsor of FIFA World Cup 26™. This partnership demonstrates the global financial institution’s commitment to promoting wellness, supporting excellence, and making a positive impact on communities through the power of sports. Through this collaboration, FIFA and Bank…
Why the World Is Running Out of Workers and What to Do About It
The global labor shortage crisis is here. The US economy alone needs 4.6 million additional workers per year to maintain current levels of supply, demand, and population balance.
That amounts to 2% of the US population—and shortages are even more dire elsewhere: Germany needs to find 1.6 million workers (3%),…
Consumer Sentiment Toward U.S. Housing Market Dips as Affordability Concerns Persist
The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index® (HPSI) decreased 1.1 points in July to 71.5, as an overall lack of affordability continues to hamstring consumer sentiment toward the housing market. This month, only 17% of consumers indicated that it’s a good time to buy a home,…
U.S. automobile dealer sentiment declined in Q3 2024, reflecting growing concerns about the political climate, rising costs and economic uncertainty
The Q3 2024 Cox Automotive Dealer Sentiment Index (CADSI) shows automobile dealers in the U.S. continue to view the market as weak. The overall Q3 market sentiment index dropped to a score of 40, down from 42 in Q2 and 45 from a year ago, signaling a weakened market sentiment.
“For more than two years now, after reaching peak profits in 2021, U.S. automobile dealers have viewed the overall market as weak,” said Jonathan Smoke, chief economist at Cox Automotive. “The retail auto business today is working through a lot of uncertainty, with the coming national election front and center, and also expectations of shifting market dynamics. U.S. dealers are feeling the effects of these dynamics in the market today and their expectations for the future.”
Franchised Dealers Show Slightly Optimistic Outlook, but Independent Dealers Struggle
Franchised dealers’ sentiment increased by one point from Q2 to a score of 50 in Q3. However, independent dealers expressed a very negative outlook, achieving a score of 37, the second lowest in the survey’s history, behind only the score of 17 recorded during the global economic shutdown in Q2 2020. In the Q3 report, independent dealers showed a particularly pessimistic view on almost every…
By Mj Toledo
Uncertainty looms in today’s financial markets, leading to increased scrutiny of traditional investment vehicles. One company that is challenging how individuals achieve long-term financial security through precious metals is Oasis Gold Group. It offers an opportunity to capitalize on gold and silver through its solutions that center on diversification and risk mitigation.
Oasis Gold Group and its Blueprint for Success
Oasis Gold Group’s success can be attributed to its comprehensive investing strategy, which includes a thorough understanding of the precious metals market. The company’s founder, Matthew D’Lando, shares, “We facilitate transactions and empower our clients with the knowledge and tools necessary to deal with this type of investment.”
Central to Oasis Gold Group’s plan for success is the belief in the enduring value of precious metals. Unlike fiat currencies, which are subject to the whims of central banks and economic policies, gold, silver, and other precious metals have historically served as a hedge against inflation and a safeguard against market volatility. The company provides investors with a tangible means of preserving their wealth by offering a range of precious metals products, including coins, bars, and bullion.
How Precious Metals Can Be Used in Retirement Planning
The company has helped thousands in retirement planning…
From Battlefield to Boardroom: The Inspiring Journey of Francisco Rivera
In 2024, Francisco Rivera was honored with the prestigious SBA Small Business Person of the Year award, a recognition that celebrates his unwavering dedication to his community and his exceptional leadership. As the President of Wepa Commercial Cleaning and The Wepa Group, Francisco has not only established a…
Starter Homes Worth $1 Million or More in Over 200 U.S. Cities, Zillow Analysis Finds
A new analysis by Zillow® finds that in over 200 U.S. cities, the typical starter home is priced at $1 million or more, making lavish and luxurious living no longer exclusive to million-dollar properties.
The typical “starter home” — defined for this analysis as being among those in the lowest…
New-Vehicle Sales Expected to Rebound in July, According to Cox Automotive Forecast
The Cox Automotive forecast released indicates that U.S. July new-vehicle sales will show some recovery from the widespread software outage that impacted sales and reporting last month. In July, the seasonally adjusted annual rate (SAAR), or sales pace, is expected to rise to 16.0 million, an upward rebound from…
Commercial Real Estate Finance Industry Shows Caution in Economic Outlook, CREFC Survey Finds
The CRE Finance Council (CREFC), the industry association representing the nearly $6 trillion commercial and multifamily real estate finance industry, released the results of its Second-Quarter 2024 (2Q 2024) Board of Governors (BOG) Sentiment Index survey. Conducted between June 26, 2024, and July 11, 2024, this survey has provided…
U.S. Economy: Near Term Looks Steady but a Crisis is Brewing
According to Beacon Economics’ new outlook for the U.S. economy, the economy will continue its steady expansion for the foreseeable future but may face a crisis of severe proportions by the end of the decade. A colossal Federal deficit and overvalued asset markets are driving excessively hot consumer spending,…
For as reliable as they have been over the course of several decades of American history, stocks and bonds have never been quite as volatile as they are right now. With the elevated risk in today’s financial markets, and the current accelerating inflation devaluing U.S. currency in the global market, it may be in your best interest to look elsewhere when it comes to acquiring a safe and secure financial fallback for your retirement. While the stock market has proven shaky in recent years, assets such as gold and silver have been crucial in protecting retirement savings. In this way, Fisher Capital is striving to ensure the financial stability of the American worker is secure through offering valuable investment alternatives.
Fisher Capital is a full-service, Conservative-owned & operated precious metals, gold, and silver investment company that specializes in IRAs. They have diligently helped thousands of clients acquire millions in gold and silver for their portfolios and IRAs. The team at Fisher Capital prides itself on taking the time to answer any questions about gold and silver investments, IRA rollovers, and anything else to ensure the certainty of your transaction.
Fisher Capital has an easily accessible and navigable system, operated on its principles of faith, integrity, commitment, transparency, family, and selfless service. All you have to do to get started is follow three easy steps:
- Open an Account: The team will walk you through an easy application. Everything will be sent for your review and signature.
- Fund an Account: Securely transfer funds from your bank. Rollover…
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Workers Tell DHL to Rescind Elimination of Full-Time Positions, Improve Working Conditions
Sort workers at DHL’s global hub at Cincinnati/Northern Kentucky International Airport (CVG) are calling for the company to recognize their right to collectively bargain a union contract. A majority of the over 1,300 sort workers at DHL-CVG support joining the Teamsters.
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AmeriCorps Helps Return Over $83 Million to Communities Through Tax Assistance
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Survey Reveals U.S. Business Executives’ Sentiments on AI Adoption and Governance
As robust as artificial intelligence (AI) capabilities have become, it is still very much in its infancy. With governments formulating strategies for AI regulations, the onus is on U.S. businesses to successfully adapt to AI policies as they emerge, says Research Professor Kislaya Prasad at the University of Maryland’s Robert H. Smith…
Stock Market Insight - Get the Inside Scoop Before the Rest!
As ONAR prepares to go public through a reverse merger with Reliant Holdings (OTCQB: RELT), investors have a unique opportunity to get ahead of the market. The upcoming merger is set to transform ONAR into a publicly traded powerhouse, making now an ideal time to consider investing in RELT stock. Here’s a detailed look at why this strategic move could be highly advantageous.
AI-Driven Marketing Innovation
The marketing industry is experiencing a seismic shift with the integration of artificial intelligence (AI). According to recent industry reports, 64% of marketers already utilize AI technologies, with an additional 38% planning to start in 2024 (HubSpot Blog). AI’s ability to streamline content creation, personalize marketing efforts, and enhance overall efficiency is revolutionizing the field. ONAR’s agency network, with its deep expertise in tech-driven marketing, is well-positioned to leverage these AI advancements. This empowers them to offer clients cutting-edge solutions that deliver significant results.
The Power of Video and Influencer Marketing
Video marketing continues to dominate the digital landscape, with 91% of businesses incorporating video into their marketing strategies in 2024 (Exploding Topics). Platforms like YouTube, Instagram, and TikTok have become pivotal for engaging audiences through short-form videos. Additionally, influencer marketing remains a crucial element,…
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Florida’s Housing Market Sees Rise in Inventory and New Listings in June 2024
U.S. Labor Market Downshifts From Raging to Robust
Payrolls rose by a healthy amount in June following a robust gain in May. While Q2 payroll additions were slower on average than in Q1 and in 2023, hiring remains vigorous. Of course, a handful of industries are driving the largest gains, but few companies are letting go of…
U.S. Private Sector Employment Increased by 150,000 Jobs in June 2024
Private sector employment increased by 150,000 jobs in June and annual pay was up 4.9 percent year-over-year, according to the June ADP® National Employment Report™ produced by the ADP Research Institute® in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). The ADP National Employment Report is an independent…
U.S. Consumers Feel the Pinch of Soaring Food Prices as Inflation Takes Its Toll
U.S. consumers are gassed when it comes to their stamina for paying historically high food prices. Having borne the brunt of a protracted post-pandemic inflation runup with extraordinary resilience, Americans have finally hit the wall.
Over the past five years, a series of macro factors have catapulted prices higher, weighing…