Month: November 2020

GOP control of the Senate will prevent big tax increases from coming out of Washington. But this episode of What’s Ahead warns that state and local governments are ravenous for revenue. One new exaction they are eying would hammer both businesses and stocks: the gross receipts tax.  This levy is a direct tax on a
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A patient arrives outside Maimonides Medical Center, as the spread of the coronavirus disease (COVID-19) continues, in Brooklyn, New York, U.S., November 17, 2020. Brendan McDermid | Reuters The United States reported more than 195,500 new cases of the coronavirus on Friday, a record-high spike less than a week before Thanksgiving, which public health officials
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Jeanne Flynn, 34, has accumulated thousands in credit card debt while waiting for unemployment benefits to arrive in New Jersey. Jeanne Flynn Jeanne Flynn used to worry about money. But never like this. Flynn, 34, lost her restaurant job in March as the coronavirus pandemic raged. Months of waiting for unemployment benefits and little savings
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Henrique Dubugras, founder and chief executive office of Brex Inc., speaks during the Bridge Forum conference in San Francisco, California, U.S., on Wednesday, April 17, 2019. David Paul Morris | Bloomberg | Getty Images The coronavirus pandemic should’ve meant disaster for Brex, the high-flying Silicon Valley start-up that lends to thousands of other start-ups. Founded
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Photographer: Dimas Ardian/Bloomberg © 2020 Bloomberg Finance LP As the Covid-19 crisis wears on, it’s clear that those with means are recovering much faster from the recession than others. This K-shaped recovery, a term coined by economist Peter Atwater, also plays out in the taxes we pay. To be sure, the recession is hurting state
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Getty Images Bank of America predicts that Generation Z (Gen Z) will be the “most disruptive generation ever” and will see their income surpass that of millennials by 2031.  “The Gen Z revolution is starting, as the first generation born into an online world is now entering the workforce and compelling other generations to adapt to them, not vice versa,”
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If you’re considering early retirement, you’re in good company. COVID-19 has been a catalyst for older Americans to leave the workforce voluntarily due to their high risk of infection. Quitting a job poses financial challenges for early retirees who suddenly have fewer years to accumulate assets and more years to live without a regular paycheck.
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A shopper visits a Lowe’s hardware store in Philadelphia, Pennsylvania, November 4, 2020. Mark Makela | Reuters Lowe’s shares fell Wednesday after the home improvement retailer reported third-quarter earnings and a profit outlook slightly short of estimates, weighed down by higher labor costs and investments in its e-commerce business. Its same-store sales surged more than
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