Japan, the United Kingdom, and several other countries have adopted a system known as “precision withholding” that lets taxpayers avoid filing any kind of tax return at all. The tax return, at the end of the day, is an anachronistic legacy of the old days of paper record-keeping when it wouldn’t have been feasible to
Month: August 2017
At times, she said, she languished in virtual detention after Guo’s staff confiscated her smartphone, computer, passport and keys and forbade her from leaving her room in his luxury apartment in the high-end London neighborhood of Belgravia. To prove her case, the woman surreptitiously met a lawyer friend in London earlier this year to give
Virtual currencies such as bitcoin are becoming more and more popular as an alternative investment thanks to their rising value, but as more consumers engage with it, so are the number of complaints against tech companies offering digital currency products. The number of complaints about virtual currencies filed with the U.S. Consumer Financial Protection Bureau
With improvements in medical treatment and increases in longevity, an unexpected illness when you are in your 60s, 70s or 80s may drag on longer than it did just a decade ago. One of the first things you should do is to learn how your current employee benefits (or those of your spouse) work and
David Paul Morris | Bloomberg | Getty Images Tim Cook, chief executive officer of Apple. Apple CEO Tim Cook has collected $89.6 million as part of a 10-year deal that he signed as an incentive to keep the iPhone maker at the forefront of the technology industry after he took over the reins in 2011
But Ikea Korea looked past the noise of the launch to announce in a press release that its second store in the country would open in October. The new store, located on the outskirts of Seoul, will be Ikea’s largest globally, with three underground floors and four above ground, supplanting its existing largest store, which
The level of investor frustration is testing Goldman’s time-tested “black-box” strategy of disclosing little and letting results speak for themselves. The bank does not offer targets or forecasts, and its quarterly disclosures are much sparser than those of its peers. President and Co-Chief Operating Officer Harvey Schwartz will break that tradition at an industry conference
Finally, Cramer erred his grievances about Monday’s after-hours trading, when panicked sellers made some trades that truly astonished the “Mad Money” host. First, traders fled the stock of Alibaba, the Chinese e-commerce giant that many have compared with Amazon. “I can’t believe I even need to spell this one out, but Alibaba’s a Chinese company,
Seafood lovers be warned. That delectable slab of seared tuna on your plate soon could become a lot smaller — and more scarce — thanks to climate change. As ocean temperatures climb, many species of fish — tuna among them — likely will shrink, decreasing in size by as much 30 percent, according to a new study published in the journal Global Change
Stocks turned positive Tuesday in part because investors hope Hurricane Harvey could unite Congress on its budget, closely followed trader Art Cashin told CNBC. “I don’t want to call it a silver lining given the tragedy of what’s going on in Texas but there may be a little bit of bonus in the fact that
Gary Cohn‘s comment that “only morons” pay the estate tax may seem like a Leona Helmsley moment for the White House economic czar. But a close look at tax data suggests that very few of today’s rich are actually paying the so-called death tax. The New York Times reports that as part of the tax-planning
Apple shares hit an all-time high on Tuesday after research firm IDC released bullish estimates for the widely anticipated new iPhone. IDC said it expects iPhone shipments to increase 9.1 percent in 2018 after the new iPhone 8, 7S and 7S Plus models are released. This would be the biggest iPhone shipment growth since 2015,
“Student loan balances are on the rise, which is a result of the increasing cost of higher education,” said Michele Raneri, Experian’s vice president of analytics. “I expect that the price of getting a higher education will continue to increase, so I wouldn’t be surprised if the loans increase also,” she said. Still, delinquencies are
As older Americans approach retirement age, many are becoming increasingly pessimistic about their financial future. With the exception of a Powerball win, where retirees choose to spend their golden years could make all the difference when it comes to making a nest egg last. To that end, personal finance site GOBankingRates looked at the average
There is an endless list of tax-advantaged accounts and plans on the market for consumers to choose from, so determining which plan or vehicle provides you with the most freedom and best features can seem, at first, like a daunting task. A good jumping-off point is to start asking yourself basic questions like: “Where will
Best Buy reported second-quarter earnings and sales on Tuesday that topped analysts’ expectations. Looking ahead, the company has also raised its outlook for the full year. The Minnesota-based retailer said stronger consumer demand for its technology products, such as smartphones and wearable devices, boosted its sales at established stores over the period. Best Buy shares
Areas of focus include how willing are people to come outside to pick up their orders, the way they approach the car, and how they interact with the screen outside of the vehicle to get the food. Marakby said this is the first of multiple partnership between Ford and other companies as part of efforts
Mahadevan pointed to several reasons why many people still preferred using cash. First, there wasn’t enough information about each digital payment method, he said. For example, there are various e-wallets, such as PayPal, and also in-app payment systems, such as GrabPay or Uber pay, or digital currencies, including bitcoin. Yet, many people don’t have a
Then, Cramer spoke with Veeva Systems founder and CEO Peter Gassner, who spoke to the cloud company’s new QualityOne product. The cloud-based quality management program applies to new fields for Veeva that include cosmetics, chemicals, food and industrial manufacturing, Gassner said. “We have an offering for them now, and we’re just starting to get traction
As federal and local authorities rush to mitigate the devastating effects of Hurricane Harvey, CNBC’s Jim Cramer took to tracking the storm’s impact on industries in its path. “No two horrendous storms are alike. They’re all terrible, and while it continues, the only thing that matters is that people are dying. Anything else is just
Michael Nagle | Bloomberg | Getty Images Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, Aug. 21, 2017. Check out the companies making headlines after the bell: Finish Line shares plunged 23 percent in extended trading after the company announced its second quarter sales decreased
Even if you don’t have flood insurance (only about 12 percent of homeowners do), call your home insurer, said Peter Kochenburger, deputy director of the Insurance Law Center at the University of Connecticut School of Law. Homeowners policies specifically exclude damage related to flooding, but water and wind damage are separate issues. (For example, you
U.S. traders were seeking oil product cargoes from North Asia, several refining and shipping sources told Reuters, with transatlantic fuel exports from Europe expected to surge. “Global refining margins are going to stay very strong,” said Olivier Jakob, managing director of Petromatrix. “If (U.S.) refineries shut down for more than a week, Asia will need
Amazon traded about 0.4 percent higher. Ben Bienvenu, a research analyst at Stephens, noted that Sprouts has more overlap than other retailers with Whole Foods’ business and attributed the outsized decline in Sprouts’ shares to “the price changes that we’ve seen in Whole Foods’ stores” and “exposure to Texas and potential for some store closures
“Just because someone shares something on Facebook, doesn’t mean they’ve checked out the group,” Borochoff said. And while taxes might not be at the forefront of your mind right now, remember that charitable donations are tax-deductible if you itemize your return instead of taking the standard deduction, so keep your receipts. Among the well-known groups
So how will this historic and dramatic breach between a Republican president and the business community be closed? In a word: carefully. Businesses will have little choice but to continue to interact with the White House on some level but in a way that acknowledges how devastating and dangerous dancing with this administration can be.
Now that its $13.7 billion acquisition is complete, Amazon is selling its Echo and Echo Dot devices inside Whole Foods, and at a discount. CNBC visited a Whole Foods in New York Monday morning, following completion of the grocer’s deal with the internet giant, and found a display of the devices selling for $99.99 and
Fraud is becoming a bigger threat to your retirement security — even if you think you’re too sharp to fall for a scam. One 2015 report estimated that older Americans lose $36.5 billion each year to financial scams and abuse. The problem is growing, and researchers say older adults experiencing cognitive decline are just a
Meanwhile, Roth IRAs offer a somewhat different approach, because the money you’re putting into the account is after-tax rather than pretax. Thus, once you own the account for five years, there is no limit or penalty on the withdrawal of the contributions you’ve put into the plan (though withdrawing any investment earnings does trigger tax
In a press announcement Friday, Waves said the tokens would be used to reward customers for each purchase of the Whopper, and eventually to buy burgers in exchange for the tokens once a customer has collected enough. The coins can also be transferred and traded online, allowing customers to either save their rewards or sell
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