The Health Care Act for Companies with Fewer Than 50 Employees
Not offering affordable health coverage to your employees? Your business better fall in the under-50 category! We explain in this week’s Insurance Tip.
The Good and Bad Tax News of Winning an Employment Lawsuit
If you’re involved in a lawsuit with your employer, your settlement may be taxable. Read all about it in this week’s Tax Tip.
Common Questions About Student Loan Repayment
Student loans are a part of life for many people. Understanding them is essential. Read answers to common questions in this week’s Financial Tip.
Deducting Losses on Rental Property
Our experts discuss the possible tax write off a taxpayer may be able to take when the taxpayer suffers a loss on a rental property.
Market Roundup: Week of Mixed Moves Ends Down
Indices closed trading with mixed moves on Monday as the Dow Jones Industrial Average and S&P 500 ended fractionally in the red while the NASDAQ posted slight gains. Energy brands led the S&P lower while West Texas Intermediate crude oil slipped 3.52% to settle at $46.81 a barrel. Stocks gained on a lift in crude oil and other news to close in green territory on Tuesday. West Texas Intermediate crude settled at $48.01 a barrel, while the Commerce Department data showed 654,000 new homes sold in July versus forecasts of 581,000. The stock retreat returned on Wednesday. Energy Information Administration data showed a gain of 2.5 million barrels in reserves over the past week, versus expectations of a lesser uptick of 200,000 barrels, resulting in oil trading lower. The dip continued through Thursday as investors’ attention was on the Federal Reserve’s annual Jackson Hole meeting. Friday’s session ended mixed. Both the Dow and S&P shaved some points while the NASDAQ closed in green territory. Moves were mixed in the wake of Federal Reserve comments. In a speech at the Economic Policy Symposium in Jackson Hole, Wyoming, Fed Chair Janet Yellen said, “The U.S. economy has strengthened to the point where another rate hike will soon be warranted.” According to the second estimate from the Bureau of Economic Analysis, real Gross Domestic Product ticked up 1.1% in the second quarter, just shy of the 1.2% advance estimate. On another note, consumer confidence slipped slightly in August. The University of Michigan Consumer Sentiment Survey shed 0.2 point to 89.8 from 90 in July. Results fell short of an expected reading of 91.
Clusters, Crowdfunding and Other Ways Small Businesses Survive
In the past decade, networks supporting small businesses have seen a lot of innovation for acquiring needed resources. Read all about them in this week’s Business Tip.
Is an ABLE account subject to federal tax?
Assets in an ABLE account for a disabled person are generally not subject to income tax, but there are some exceptions. We explain in this week’s Tax Tip.
The Importance of Saving for Retirement at a Young Age
At 20, you have 40+ years in the workforce ahead of you. This is great news for your retirement savings. Learn more in this week’s Financial Tip.
Using a Lump Sum 401(k) Payout to Pay Off Student Loans
Our experts discuss a listener’s desire to use an old 401(k) balance to pay down his child’s student loans, and why it may not be a wise decision to do so.
Market Roundup: Week Starts with Record Highs, Ends Slightly Down
The week started out strong with the major indices closing at all-time record highs on Monday. Stocks rallied on a lift in crude oil, as West Texas Intermediate crude added 3.19% to settle at $45.91 a barrel. The record setting did not last long as the market landed in red territory on Tuesday when stocks traded lower on the release of a variety of economic news. The Consumer Price Index was unchanged last month following four straight months of gains. The core CPI, which discounts food and energy, edged up 0.1% which was slightly shy of expectations. On another note, residential construction levels ticked up in July. Total housing starts climbed 2.1% and are up by 5.6% from July 2015. Industrial production increased by 0.7% in July, exceeding consensus expectations. Stocks experienced turbulent trading midweek following the release of the minutes from the July Federal Reserve meeting; however, the market still closed with gains on Wednesday. Comments from the Federal Open Market Committee revealed a split opinion on when to next increase interest rates. Energy Information Administration data showed a downswing of 2.5 million barrels in U.S. reserves over the week ended August 12. The result was well beyond an expected decline of 200,000 barrels. The news pushed West Texas Intermediate crude up to settle at $46.79 a barrel. The markets were mixed most of Thursday, but closed the day down, likely because of the lack of guidance from the Fed on Wednesday about the future of interest rates. Indices closed in the red zone on Friday, rebounding from early losses to end marginally lower. West Texas Intermediate crude added 0.35% to settle at $48.39 a barrel.