State tax collectors are ramping up their efforts to audit high earners, with New York reporting a significant increase in audits despite a decrease in the number of auditors. In 2022, New York’s tax department conducted 771,000 audits, which was a 56% increase from the previous year. Surprisingly, the number of auditors in New York
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The year 2023 saw a significant resurgence in international travel, with airports around the world experiencing a surge in passenger traffic. According to the preliminary ranking released by the Airports Council International, Dubai International Airport climbed to the second spot in the ranking, a significant jump from fifth place in 2022 and fourth place in
The Tax Cuts and Jobs Act of 2017 is often portrayed as a boon for middle-class Americans, promising relief in the form of reduced tax rates and increased deductions. However, upon closer examination, it becomes evident that the devil lies in the details. While the provision that reduced corporate tax rates to 21% is permanent,
The market is showing signs of recovery following a selloff on Friday, with hopes that the conflict in the Middle East will not escalate further after Iran’s attacks on Israel. Meanwhile, oil prices are pulling back on these expectations, providing some relief to investors. Despite a slight uptick in consumer inflation, retail sales soared by
Goldman Sachs is expected to report earnings of $8.56 per share with a revenue of $12.92 billion. The trading revenue is anticipated to be $3.64 billion for fixed income and $2.95 billion for equities. Additionally, investing banking revenue is projected to be $1.77 billion. These expectations set the stage for what investors are hoping to
When it comes to long-term growth prospects, e-commerce and cloud computing giant Amazon (AMZN) is a top pick by Wall Street analysts. Despite a hotter-than-expected consumer inflation reading that spooked investors, many analysts remain bullish on the stock. Mizuho analyst James Lee, for example, reiterated a buy rating on AMZN stock with a price target
President Joe Biden recently introduced a revised student loan forgiveness plan after facing setbacks with his initial proposal last year. This new plan aims to address the burden of student loan debt on working- and middle-class individuals. Biden’s Plan B targets specific groups of borrowers rather than attempting to forgive the debt of all 40
Larry Swedroe, a distinguished researcher in the market, has raised concerns about Warren Buffett’s investment style not being as effective as it once was. Swedroe believes that the increasing number of professional Wall Street firms and hedge funds in the market have changed the landscape significantly. Swedroe challenges the idea that Warren Buffett was a
Advance Auto Parts is a well-established automotive aftermarket parts provider that caters to both professional installers and do-it-yourself customers. With a wide selection of brand names, original equipment manufacturers, and brand-owned automotive replacement parts, the company operates numerous stores and branches across the United States, Canada, Puerto Rico, and the U.S. Virgin Islands. The stock
In today’s social media landscape, there is a trend of showcasing extreme forms of domesticity and extravagant spending by women who receive permission (or an “allowance”) from their partners. This practice, reminiscent of a parent-child dynamic, can be seen as infantilizing women and diminishing their financial autonomy. While it may seem like a harmless arrangement