Does today’s unemployment report signal a looming recession? The Federal Reserve seems on course for further interest rate increases, even at the cost of higher and discriminatory increases in unemployment. And there’s nothing in today’s report that will likely move the Fed from its current path. Today’s report from the Bureau of Labor Statistics (BLS)
Taxes
Taxes and baseball don’t seem to go together, but America’s sport sometimes meets America’s great leveler: the income tax and the folks down at the IRS. Cory Youmans was the lucky catcher of Aaron Judge’s record-breaking 62nd homer run at Globe Life Field in Arlington, Texas, but is the IRS really after him? Not exactly.
The plan to starve the beast might not go quite as expected. The latest parry in the skirmish over the IRS’s expanded funding in the Inflation Reduction Act (IRA, P.L. 117-169) would rescind the bulk of the appropriated amounts. But a better approach would be for Congress to be more precise about what exactly it
Day and swing traders inevitably trigger many wash sale loss adjustments (WS) amounting to tens or hundreds of thousands of dollars. Take a loss on a security, repurchase it within 30 days (after or before), and that creates a WS loss. A WS reduces the cost basis on the position sold and adds the WS
Many employers and for profit companies are willing and able to provide financial assistance and services to those who have been harmed or dislocated by hurricane Ian. The Federal Tax Code and IRS Regulations and IRS Guidance provide ways to make these payments tax deductible without the recipients having to pay income tax on what