|
Djibouti's President Guelleh wins sixth straight term in office Al JazeeraDjibouti President Ismaïl Omar Guelleh is reelected for a sixth term AP NewsRed Sea Military Hub Djibouti's President Extends 27-Year Rule Bloomberg.comDjibouti President Wins Election With 97.8% of Vote, State Media Says U.S. News & World Report
|
|
The consumer price index was expected to show a 3.3% year-over-year gain in March, according to the Dow Jones consensus.
|
|
Oil prices finished lower on Friday, with U.S. and global benchmark crude contracts posting their worst weekly percentage losses in nearly six years, as talks loomed between the U.S. and Iran.
|
|
The S&P 500 rose 3.6 percent, its biggest weekly gain since last year. Investors are bracing for developments in peace talks between the United States and Iran, set for the weekend.
|
|
There's no way to sugarcoat this: Small and midsize businesses should be scared to death about the consequences of the Inflation Reduction Act. Unless they provide goods and services to the green energy industry, the law's unforeseen consequences could increase their operating expenses in two ways. Here's what to expect — and how to prepare.
SEE MORE Audit-Proof Your Small Business
The Inflation Reduction Act is essentially a climate change law with some health care benefits. While the new legislation doesn't include any direct tax increases on small and midsize businesses, some of its provisions have the potential to raise costs for these companies significantly.
First Reason Why Cost of Business Could Be Going Up
For one, your chances of being audited may be going up. The new bill substantially expands the Internal Revenue Service's budget: More than half of the $80 billion increase in the IRS budget over 10 years will be used to beef up enforcement through new technology and new hires. That means more audits for companies that are the least able to financially manage them. I worry for businesses that gross $5 million or less since they usually don't have excess funds to pay a lawyer $50,000 to fight the IRS if their matter proceeds to court.
In a letter to the Senate, the agency's commissioner said, "These resources are absolutely not about increasing audit scrutiny on small businesses or middle-income Americans." Even so, with the hire of new auditors, it's likely that people with little or
|
|
China and the U.S. are in the final stage of completing a trade deal, with Beijing offering to lower tariffs and other restrictions on American farm, chemical, auto and other products and Washington considering removing most, if not all, sanctions levied against Chinese products since last year.
|
|
