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Many see the S&P 500 scoring double-digit gains next year, finishing at 1400 or higher, because of a better economy, better earnings, better tone from Washington, and a better case for equities versus bonds.
Rep. Barney Frank, chairman of the Financial Services Committee, told CNBC that the tax bill signed into law Friday by President Obama make a “mockery of all this deficit concern.”
Stocks closed narrowly mixed, as technology and bank stocks gained strength and drug stocks fell, amid more evidence of a recovering economy in the U.S. and passage of a bill extending Bush-era tax cuts. American Express fell, while Boeing rose.
I thought only California was crazy. The tax and accounting experts at Thomson Reuters have revealed "quirky" tax laws enacted in 2010.
It was a big week on Capitol Hill. First the Bush Tax Cuts were extended and the swine flu infected omnibus was pulled off the table in the Senate.
Markets could grow by 8 to 12 percent next year, the chairman and CEO of the mutual funds company the Dreyfus Corporation, Jonathan Baum, told CNBC Friday.
The fight over collecting online sales tax is an ongoing issue that is especially heated this holiday season as online retail sales hit new records—and taxes goes uncollected.
Stocks continued to trade mixed despite further evidence of a recovering economy and passage of a bill extending Bush-era tax cuts, as strong earnings by tech leaders nudged the Nasdaq slightly higher. Merck fell, while Boeing rose.
Despite the hyperbole from the left, lame duck Democrats joined Republicans to ensure the US economy avoid a disastrous hike in tax rates. Most economists are calling for the measure to add 0.5-1.0% to GDP and taking the US economy up to 3.0-4.0% growth for 2011.
Portfolio moves can now be made with the knowledge that capital gains and dividend tax rates will remain at 15 percent, which means most people will want to hold onto their stock market winners.
Stock futures struggled to find direction ahead of the open Friday despite Congress' decision to extend of the Bush-era tax cuts late Thursday as investors weighed the implications of a downgrade of Irish debt.
If you run a hedge fund domiciled in the Cayman Islands or Bermuda (as many are) you are not happy with the bankers who advised Novartis on its deal to acquire the 23 percent of Alcon it doesn‘t already own.
The chairman and CEO of Winnebago Industries, Robert Olson, told CNBC Thursday that the retail activity has been improving and dealers have stocked their inventories to meet demand.
"The right thing to do is to eliminate the AMT,” says one tax expert. “The AMT is an admission that the tax system is unsound." That may be but the federal government also needs the vast revenue the alternative minimum tax generates.
The tax compromise brokered by President Obama with Republican congressional leaders will boost economic activity, adding ½ to 1 percent to the GDP, Steven Schwarzman, chairman and CEO of private equity firm Blackstone Group told CNBC Thursday.
The president remains more politically resilient than the mid-term elections suggest— and his adjustment to setbacks may be helping him. Obama leads prospective Republican challengers for 2012.
Some tax deductions are obvious but there are some things you wouldn’t believe you can deduct! If you've got the stomach to itemize, it could save you a lot of money. Check out these 12 wacky tax deductions.
There used to be a joke that went like this. Two guys were sitting in a bar talking politics. "So what party do you support," one fellow asked. "I'm not a supporter of any organized political party," the other fellow said. "Me neither," said the first guy. "I'm a Democrat."
Wells Fargo has broken with other big banks by urging US regulators to require mortgage lenders to retain more of the loans they originate, rather than selling them to investors, a practice that helped to fuel the housing bubble, reports the Financial Times.
Rep. Ron Paul, (R-Texas), who will head a subcommittee overseeing the Federal Reserve in the new Congress, called central bank a “cartel” and said it has “monopoly control” over the US dollar.