The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
If you're hoping to trim your tax bill and ramp up your savings for 2018, you have about three weeks to call your accountant and get your act together.
It has been a busy year for taxpayers and accountants, as the end of 2018 signals the first year under the Tax Cuts and Jobs Act.
In all, the tax overhaul roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), eliminated personal exemptions and limited itemized deductions.
Despite the changes to the tax law, there are still opportunities to shore up your 2018 finances. Here's what to consider.
If you want to lower your tax bill by making donations to charity, you have until Dec. 31 to do so.
Maximize your contribution — and the amount you can deduct if you're able to itemize in 2018 — by stuffing multiple years' worth of donations into one year.
This move is known as "bunching" your charitable contributions.
Sweeten your tax break by donating appreciated stock. This way you can offload highly appreciated shares without incurring taxes on the gains.
"This has the double benefit of a charitable deduction for the full market value of publicly traded stock and a partial rebalancing of your portfolio if you're overweighted in stocks," said Lisa Featherngill, CPA and member of the American Institute of CPAs' personal financial planning executive committee.
Failure to do so could mean you're on the hook for a 50 percent penalty on the amount you should have taken.
If you're lucky enough that you won't need the RMD, consider donating the money directly from your retirement account to your qualifying charity of choice. This is known as a qualified charitable distribution.
You don't need to itemize deductions on your tax return in order to do this.
The bonus: Your RMDs are normally taxable distributions, but qualified charitable distributions are not, according to the IRS.
You have until Dec. 31 to make gifts to your loved ones for the 2018 tax year. You can give up to $15,000 per recipient to an unlimited number of beneficiaries without paying a gift tax. This is known as the annual gift exclusion.
If you'd like to share even more wealth with your grandkids without being subject to gift taxes, consider paying for their tuition or medical expenses.
All of these payments must be made directly to the provider of these services.
Unlike contributions to an IRA or a health savings account, which can wait until April 15, consider plugging away even more cash into your 401(k).
In 2018, employees can defer up to $18,500 in their 401(k) plan, plus an additional $6,000 for those who are over 50. If you can't handle that outlay, at least save enough to qualify for the employer match.
Here's a bonus: Money that you put into a 401(k) plan isn't included in your taxable income.
More than 30 states offer residents a tax break for making a contribution to a 529 college savings plan. You have three weeks to ramp up your contributions if you'd like to nab that benefit on your state tax return.
College savings accounts allow you to save after-tax dollars and have them accumulate tax-free. You can take tax-free withdrawals for qualified higher education expenses.
Be aware that while the IRS will allow you to withdraw up to $10,000 annually for K-12 private school tuition, your state's laws may not permit you to do so.
That means you could be on the hook for penalties and clawbacks of your state tax breaks.
If you reaped large gains from your brokerage account this year, you have until Dec. 31 to harvest the losses in your portfolio to offset the gains.
"It's been a strong year for U.S. equities, but international stocks and fixed income have had negative returns for the most part," said Michael Landsberg, CPA and member of the AICPA personal financial planning executive committee.
No gains this year? You can use up to $3,000 in net losses to offset ordinary income and carry forward the excess into future years.
Be aware that if you sell a security at a loss and buy the same or similar security within 30 days before or after the sale, the IRS won't allow you to claim the loss on your tax return.
This is known as a wash sale.
More from Personal Finance
Get a load of these last-minute tax savings opportunities for entrepreneurs
You're probably out of time to withhold enough pay for taxes in 2018
New divorce tax rules could leave with a big disadvantage