The U.S. Treasury Department and Internal Revenue Service have recently announced that more than $1 billion in tax credits is being provided as an upfront cash incentive to buyers of electric vehicles. This initiative was established through the Inflation Reduction Act, which allows for tax credits worth up to $7,500 for new EVs and $4,000
income
Oracle’s recent announcement of cloud deals with Google and OpenAI caused their shares to soar by 9% in extended trading. Despite falling short of Wall Street expectations for the fourth quarter, the company reported an increase in revenue of 3% year over year, reaching $14.29 billion. While earnings per share were adjusted to $1.63, slightly
The looming expiration of trillions in tax breaks enacted by former President Donald Trump through the Tax Cuts and Jobs Act of 2017 has sparked a debate among presumptive nominees President Joe Biden and Donald Trump. Both candidates have pledged to extend these tax breaks for most Americans, but the question remains on how to
The Supplemental Security Income (SSI) program was established 50 years ago as a federal lifeline for people with disabilities and older adults. Since its inception, the maximum monthly benefit has increased to $943 for individuals and $1,415 for eligible couples. However, the average monthly benefit for individuals remains at around $698, falling significantly below the
The transformation of Splash Mountain into Tiana’s Bayou Adventure marks a significant shift in Disney’s retheming strategy. Originally announced four years ago, this reimagined water ride is set to reopen on June 28 at Walt Disney World Resort in Orlando, Florida. The new theme takes guests on a journey through the swamps of New Orleans,
Living and working abroad comes with many challenges, including the responsibility of filing taxes. For U.S. citizens and resident aliens residing outside the country, the deadline to file for 2023 taxes is June 17. This automatic two-month extension gives expats the extra time they need to fulfill their tax obligations. To qualify for the June
Homeowners across the United States are sitting on near-record amounts of home equity. The total home equity for U.S. mortgage holders has surged to over $17 trillion, making it a lucrative option for those looking to leverage their assets towards financial goals. This increase in equity per borrower, which has risen to approximately $305,000 from
The U.S. economy seems to have segmented consumers into categories of individuals with abundant financial resources and those without, including retirees. As Cerulli Associates’ senior analyst Chayce Horton pointed out, there is evidence of a significant wealth transfer occurring between generations. This transfer is estimated to be around $84 trillion by Cerulli and is expected
The Tax Cuts and Jobs Act of 2017 (TCJA) introduced significant tax reforms resulting in temporary tax breaks for most Americans. The act included provisions such as lower federal income tax brackets, a higher standard deduction, and an increased child tax credit. These measures were aimed at providing relief to taxpayers across various income brackets.
The Covid-19 pandemic not only exposed the vulnerabilities in the American economy but also highlighted the resilience within certain sectors. Child care, in particular, took center stage as daycares closed, schools shifted to remote learning, and parents struggled to balance work and childcare responsibilities. While employment in the child care sector has slowly recovered post-pandemic,