By Naeem Aslam Traders are ready to bag some bargains, while others continue to believe that the current bounce back in the markets may be nothing more than a dead cat bounce, as a result of which, caution is need. European and US markets are very much moving forward, leaving behind all of the concerns … Read more
Caitlin ReillyCQ-Roll Call(TNS) WASHINGTON — The Senate fell short as expected Thursday of the 60 votes needed to start debate on a $79 billion tax bill that would deliver financial relief to businesses and low-income families, amid opposition from most Republicans and some on the majority side of the aisle as well. Though the procedural … Read more
We have been waiting several months for the Supreme Court of the United States (SCOTUS) to render a decision in Moore v. United States. Initially, our questions focused on the issue of “realized or unrealized income” and whether income could be taxed before it is “realized.” The Court avoided this issue almost entirely. So, how … Read more
Prices for US crude oil West Texas Intermediate (WTI) struggle to capitalise on the previous day’s strong move up and oscillating in a narrow range in early European trading on Thursday. The commodity currently trades around the $78.00 mark, with bulls awaiting a sustained strength beyond the 200-day Simple Moving Average (SMA) before positioning for … Read more
As we find ourselves in a crucial period of economic transition, with positive but slowing growth, we are facing some critical policy decisions with major impacts on consumers, the retail industry and the broader economy. National Retail Federation Chief Economist Jack Kleinhenz recently highlighted that, much like in 2017, we are in a phase of waiting … Read more
Sales tax compliance is a bit of an unknown quantity in the US. Calculating the tax gap—the difference between taxes collected and taxes owed—in sales and use tax is much more difficult than the income tax gap. For income tax, there are secondary sources of information available from employers; in sales tax, there is no … Read more
The Greenbook for Fiscal Year 2025, containing the Biden administration’s budget proposals, contains a mixture of recommendations, many of which have been considered in one form or another in past years. Nevertheless, it lays out the administration’s blueprint for a wish list, and in some cases signals issues to prepare for. “As time has gone on, … Read more
Andresr | E+ | Getty ImagesWith trillions of dollars in tax breaks scheduled to expire after 2025, financial advisors are working with clients to prepare for the looming tax cliff. Enacted by former President Donald Trump, the Tax Cuts and Jobs Act of 2017, or TCJA, included lower federal income tax brackets, bigger standard deductions and … Read more
The Arkansas House and Senate on Tuesday each passed its version of two identical bills that seek to cut income taxes, setting up the conclusion of a special legislative session on Wednesday. The legislation would lower the top corporate income tax rate from 4.8% to 4.3% and the top individual income tax rate from 4.4% … Read more
By Naeem Aslam European and US futures are trading close to the flatline, as investors continue to argue that the current rally has taken the price action too high and too fast. If you look at the major stock indices, such as the S&P500 or the Nasdaq 100, you will see that these majors have … Read more