WASHINGTON — Former President Donald Trump told an influential group of CEOs that he wants to further cut the corporate tax rate he lowered while in office, while President Joe Biden’s chief of staff separately told them that the Democratic incumbent’s emphasis on global alliances would help their businesses.Both Trump, the presumptive Republican nominee, and … Read more
The EURUSD corrected to a near round-level figure of 1.0800 in Thursday’s late European trading. The major currency pair faces pressure after a bullish Wednesday, when it rallied to 1.0850 from an almost six-week low of 1.0720 after the US Consumer Price Index (CPI) data for May was cooler than expected, weighing heavily on the Dollar. Later … Read more
If you are a small employer, there is a tax credit that can put money in your pocket.The small business health care tax credit benefits employers that: Have fewer than 25 full-time equivalent employees Pay average wages of less than $50,000 a year per full-time equivalent (indexed annually for inflation beginning in 2014) For tax … Read more
West Texas Intermediate remains steady with thin trading, possibly due to anticipation of upcoming producer price figures from the US. The WTI crude oil hovers around $78.00 per barrel in European trading on Thursday. Oil traders have absorbed the hawkish stance maintained by the US Federal Reserve, with the Federal Open Market Committee (FOMC) keeping … Read more
While more strategic tax leaders are most concerned that the 2024 election will result in changes to certain Inflation Reduction Act renewable energy credits, tax tacticians are most concerned about changes to federal corporate tax rates, according to a new survey from top six accounting firm BDO USA. BDO’s 2024 Tax Strategist Survey, which was released … Read more
By Naeem Aslam European and US futures are trading with extreme caution on Wednesday as traders are reluctant to make any big moves ahead of two important events. Observing the day’s price action reveals a tense atmosphere, because the US CPI report and the Fed’s monetary policy decision, followed by their press conference, are … Read more
We know that “privately, Trump has told allies that he is keenly interested in cutting corporate tax rates again,” according to The Washington Post, even as corporate profits hit near record highs in 2023. The Post also reported that “Trump’s advisers…have discussed proposals to make deeper cuts to the overall corporate tax rate, potentially to … Read more
“It’s not enough just to undo the damage of the Trump tax law—our tax code wasn’t fair before that,” said the Chairman of the Budget Committee Washington, D.C.— U.S. Senator Sheldon Whitehouse (D-RI), Chairman of the U.S. Senate Budget Committee, delivered the following opening statement at today’s hearing, titled “Making Wall Street Pay Its Fair Share: … Read more
The Federal Reserve will most certainly hold US interest rates steady at the current 23-year high and investors need to review their portfolios amid a divergence in global monetary policy, a leading financial advisor said Wednesday. “With the annual CPI increase at 3.3%, markets might be hopeful for potentially more rate cuts, but there remains … Read more
There are insinuations concerning the incidence of double taxation being experienced in some quarters by persons or groups within our economy. Those being affected by this menace are seriously lamenting as a result of the repetitive nature of taxes and levies that they have been forced to be exposed to or suffer more than once … Read more