Month: August 2021

Vice President Kamala Harris swears in Isabel Guzman as administrator of the Small Business Administration as husband Javier Guzman stands at her side at the White House in Washington, March 22, 2021. Kevin Lemarque | Reuters Isabella Casillas Guzman, the new Administrator of the U.S. Small Business Administration, began her term under President Joe Biden
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This week’s map showcases states which levy alternative minimum taxes (AMTs) to prevent corporations from reducing their corporate income tax liability beyond a certain level. Under an AMT, corporations are required to calculate their income tax liability under two systems and pay the higher amount. This requirement under the federal AMT imposed steep compliance costs
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Coinbase employees spray champagne during the company’s initial public offering (IPO) outside the Nasdaq MarketSite in New York, U.S., on Wednesday, April 14, 2021. Michael Nagle | Bloomberg | Getty Images If you had any lingering doubts about the growth of fintech, take a peek at Tuesday night’s earnings reports from two newly-public companies. Cryptocurrency
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Donor-advised funds have become “wealth-warehousing vehicles” that give tax benefits to the wealthy without honoring their charitable mission, according to a leading philanthropist. In an interview with CNBC Monday, billionaire philanthropist John Arnold said donor-advised funds are hoarding more than $100 billion in charitable gifts that should be going to communities in need. He said
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Money in a special needs trust can cover supplemental needs not covered by Medicaid and SSI. Uwe Umstaetter | Getty Images Democratic leaders in Washington, D.C., have touted a $3.5 trillion spending package aimed at helping to fight poverty. Yet initial drafts have not included proposed reforms to enhance Supplemental Security Income — also known
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Dr. Scott Gottlieb warned that Covid-19 could, yet again, force schools to go fully remote, amid concerns about potential outbreaks in classrooms this fall.  “Unfortunately, it’s possible, especially if you go into this school year without the kind of mitigation that we had in place last year,” Gottlieb, the former FDA chief in the Trump
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A damning new U.N. report warning of certain devastation from climate change has been dubbed humanity’s “final wake-up call” by environmental experts. Speaking to CNBC Tuesday, environmentalists outlined the role companies, countries and individuals can play in stemming the crisis. They also shared their hopes for the 26th UN Climate Change Conference of the Parties,
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Getty Images Young investors are flocking to social media platforms like TikTok, Instagram and Reddit for financial advice. In fact, one-third of Americans trust social media to help them make financial decisions, and 32% trust social media influencers and celebrities’ financial advice, a survey from investment firm TIAA found. Navigating the slew of recommendations can
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Customers at the bar in Philadelphia restaurant Martha, which requires customer proof of vaccination, on Aug. 7, 2021. Hannah Beier | Reuters Business are getting creative in their efforts to attract and retain workers amid a labor shortage caused by the coronavirus pandemic. Ray Bales, president of a Seniors Helping Seniors franchise in Knoxville, Tennessee,
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The delta variant hasn’t significantly altered the outlook of America’s small business, but the conditions that the Main Street economy is operating under as it attempts to fully reopen are weighing on business owners across the country. Half of small business owners (50%) say it’s gotten harder to find qualified people to hire compared to
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