Late Friday, the GOP released its final tax bill, which is expected to pass both chambers of Congress this week. Here’s what made it in—as previously noted: how it impacts your bottom line depends on how much you earn, how you earn it, where you live and the size of your family. To see a rough estimate of its impact, check out this Wall Street Journal tax plan calculator.
Read MoreThe Fed likes to act in December…and this December will be no different. When the central bankers convene their two-day policy meeting this week, they are widely expected to increase short-term interest rates by a quarter of a percent to a new range of 1.25 to 1.5 percent. It would be the third increase of the year, the fourth in the past year and the fifth of the rate increase cycle.
Read MoreNow that the Senate has passed big changes to the U.S. tax code, it may be worth considering a blasphemous question: Do corporations need a tax cut? The bill, which now must be reconciled with the House version, would permanently slash the corporate tax rate to 20 from 35 percent and temporarily lower individual taxes.
Read MoreIf you’ve been wondering where investor euphoria is, look no further than Bitcoin – about 13 million people around the world are cheering Bitcoin 10,000. Oh sure, US stocks are now in the second longest bull market on record (the longest was 1982-2000), but there seems to be a missing element to the current stampede: all-out excitement. Remember the late 1990s, when everyone was talking about stocks? It certainly doesn’t feel that way today. In fact, investors who call into my podcast and radio show seem to be more concerned about the downside, then the upside.
Read MoreAs Republicans negotiate changes to the tax code, one area is set to remain the same: charitable giving. That said, because both the House and Senate proposals nearly double the Standard Deduction, fewer taxpayers will be itemizing, which means they will be giving for the sake of giving, not to reduce their tax bills.
Read MoreInvestors will resume trading after the Thanksgiving weekend, but all eyes will be on the outcome of Cyber Monday. Last year, it was the largest online sales day in history- shoppers spent a record $3.39 billion online, edging out the Black Friday online sales. This year, Cyber Monday sales are set to grow by 16.5 percent from a year ago, according to Adobe Digital.
Read MoreAnalysts say that the stable economy, an improving labor market and a longer holiday shopping season — one extra weekend day this year — are expected to boost holiday sales by about four percent from a year ago. [In case you missed it, check out my Evening News piece about how brick and mortar retailers are embracing a new concept, “Retail-tainment” to bring in holiday shoppers.]
Read MoreLong-term care is a tricky issue that is likely to impact a majority of Americans. According to the government, 70 percent of people turning age 65 can expect to use some form of long-term care during their lives. Although most of the care comes from unpaid caregivers (generally family members or friends), those who require more care are finding that the cost is rising.
Read MoreLast week, investors yawned as the bull market continued to roar. US stocks closed at new all-time highs–on the same day–for the 27th time in 2017. For the Dow it was the 59th closing high this year, the 53rd for the S&P 500, and the 64th for the NASDAQ.
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