Asiavision | E+ | Getty Images If you haven’t filed your taxes because you owe money, it may be a costly mistake, financial experts say. That’s because the late filing penalty for federal taxes is 5% of your unpaid balance per month capped at 25%, whereas the late payment fee is 0.5%, said certified financial planner Larry Harris, director
After corporate tax revenue came in at a record high of $372 billion in fiscal year 2021, we have been eagerly awaiting the forecast for fiscal year 2022, which the Congressional Budget Office (CBO) normally publishes in January but now plans for the week of May 23rd. The White House has included a forecast in
RgStudio | E+ | Getty Images New government data showing record high inflation probably comes as no surprise to consumers who are facing sticker shock everywhere from the grocery aisles to the gas pump. Now, all eyes are on the Federal Reserve, which is expected to continue to raise interest rates to try to tamp
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A man is given a coronavirus disease (COVID-19) test at pop-up testing site in New York, April 11, 2022. Brendan McDermid | Reuters Covid infections are rising again in the U.S. with outbreaks in New York City and Washington, D.C. resulting in senior government officials coming down with the virus as the more contagious omicron
A pedestrian walks by a Bed Bath and Beyond store on November 04, 2021 in Larkspur, California. Justin Sullivan | Getty Images Bed Bath and Beyond on Wednesday reported a surprising holiday-quarter loss, as the company ran low on inventory and struggled to move merchandise out of congested ports and onto shelves. Shares of the
In this article ATRS BLK BBBY JPM DAL PYPL Check out the companies making headlines before the bell: Delta Air Lines (DAL) – Delta rallied 6.6% in the premarket after reporting a smaller-than-expected quarterly loss and predicting a current-quarter profit. The airline also said monthly revenue exceeded pre-pandemic levels for the first time in March.
K. Kenneth Davis, a financial educator known as The Trans Capitalist, has made it his mission to help the LGBTQ+ community understand money. His passion comes from his own experiences: A decade ago, Davis says he found himself nearing a financial catastrophe. Credit card bills were piling up, he was facing eviction, and he was
A driver uses the Uber app to drop off a passenger. Chris J. Ratcliffe | Bloomberg via Getty Images When Sergio Avedian, 55, started driving full time for Uber and Lyft in 2016, he used to make $3,000 a week. “Now, it’s impossible to make that kind of money,” he said. Coming out of the
Key Findings Exempting groceries from the sales tax base reduces economic efficiency without achieving its objective of enhancing tax progressivity. The poorest decile of households experiences 9 percent more sales tax liability with a grocery tax exemption than they would if groceries were taxed and the general rate were reduced commensurately. Grocery tax credits provide
A sign advertising home mortgage services at a Bank of America branch in Manhattan Beach, Calif. Patrick T. Fallon | Bloomberg | Getty Images The nation’s mortgage bankers are scaling back their expectations for the year as rapidly rising rates make it even more expensive to buy a home. The Mortgage Bankers Association now calls
In this article MBG-DE TSLA BMW-DE F GM 7267.T-JP With several major economies looking to cut the number of diesel and gasoline vehicles on their roads, Honda and other carmakers are attempting to develop electrification strategies that will allow them to remain competitive going forward. Aimur Kytt | Istock Editorial | Getty Images Honda plans
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, April 4, 2022. Brendan McDermid | Reuters Stocks futures were flat in overnight trading as investors weighed the latest inflation data for March. Futures on the Dow Jones Industrial Average rose 20 points or 0.06%, while S&P 500 futures
Muslianshah Masrie | Photodisc | Getty Images Are you saving enough now for your eventual retirement? The odds are that you probably aren’t. The latest Federal Reserve Survey of Consumer Finances for 2019 found that the median amount of savings in Americans’ retirement accounts was $65,000. To say the least, that nest egg will not
Thomas Barwick | Digitalvision | Getty Images A shortened workweek may become the reality for many employees in California. Legislation is now working its way through the state legislature that would make the standard workweek 32 hours for companies with more than 500 workers. There would be no cut in pay, and those who work
Do you need more time to file your business return this year? No sweat — that’s what tax extensions are for. Read on to learn more about filing for a business return extension this year. What is a business tax extension? Sole proprietorships, partnerships, LLCs, and corporations can file a six-month extension request with the
In this article WMT Walmart has hired John Rainey, PayPal’s chief financial officer, as its new CFO. Walmart Walmart said Tuesday it has hired PayPal executive John Rainey to become its new chief financial officer. Rainey currently holds the same post at the financial technology company and will step in as CFO at Walmart on
A person wearing a protective mask enters a Chipotle restaurant in San Francisco, California, U.S., on Monday, April 19, 2021. David Paul Morris | Bloomberg | Getty Images Check out the companies making headlines in midday trading. CarMax — CarMax shares dipped more than 8% after reporting a beat on revenue but a miss on
A trader works on the floor of the New York Stock Exchange (NYSE) in New York, March 30, 2022. Brendan McDermid | Reuters For stock investors pondering how to ride out the worst bout of inflation in four decades, don’t worry and stay the course, according to Nick Maggiulli, chief operating officer at Ritholtz Wealth
RyanJLane | E+ | Getty Images If you’re rattled by soaring prices, I bonds, a popular inflation-protected and nearly risk-free asset, may soon become even more appealing, experts say. While I bonds currently pay 7.12% annual returns through April, that rate may jump to 9.62% in May, according to Ken Tumin, founder and editor of Depositaccounts.com,