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One evacuated passenger tests positive for hantavirus, another develops symptoms on flights home AP NewsFrench passenger of hantavirus cruise ship starts showing symptoms on evacuation flight, prime minister says CBS NewsHantavirus: what happens to cruise ship passengers now and will they quarantine? The GuardianAmerican passengers from hantavirus-hit cruise ship to stop at Nebraska facility before heading home. Here's what we know CNN
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Stock futures slide as investors monitor the latest Iran war negotiations: Live updates CNBCMarkets dip as US-Iran ceasefire goes nowhere, leaving Trump with a military option to reopen Hormuz FortuneShare futures wobble, dollar gains as Gulf talks teeter ReutersMomentum-Obsessed Traders Seek Clues on Iran Truce Bloomberg.com
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Anxiety got the better of Wall Street on Tuesday, with the stock market tumbling ahead of tomorrow's policy announcement from the Federal Reserve.
Many of Wall Street's top minds are weighing in on how big the Fed rate hike will be. Among them is Brad McMillan, chief investment officer for Commonwealth Financial Network, who, like almost everyone, believes the central bank will hike rates by 75 basis points. A basis point is one-one hundredth of a percentage point.
SEE MORE 10 High-Paying Dividend Stocks Yielding 5% or More
"Where things get interesting is in the follow-up comments, where the market tries to parse what this means for the Fed's policy decisions through the rest of the year," McMillan says, referring to the press conference Fed Chair Jerome Powell will hold immediately after the announcement. "Expectations are very hawkish, and the Fed can come out just as expected and still be more dovish than expected. That likely limits the market downside from this meeting and just may provide some upside going forward."
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But today, investors envisioned higher rates ahead, which weighed on bond prices - and sent the 10-year Treasury yield up 7.2 basis points to 3.561%, its highest perch since 2011.
SEE MORE The White House Touts A Digital Dollar: What Does That Mean?
Broad selling was seen in the equities mar
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President Biden signed the Inflation Reduction Act into law on August 16. The massive climate, energy, tax, and healthcare package contains numerous clean energy incentives including tax credits for the purchase of new and used electric vehicles. But you may not have heard that the new law also revives the tax credit for electric vehicle charging stations and equipment that had expired in 2021. There are some changes to the prior charging station tax credit that you will want to be aware of, so that you can potentially use the tax break for your own EV charger.
What is the Tax Write Off for EV Chargers?
The federal tax credit for electric vehicle chargers originally expired on December 31, 2021. However, the Inflation Reduction Act's Alternative Fuel Refueling Property tax credit extends the EV charger tax incentive ten years—through December 31, 2032.
SEE MORE EV Tax Credits Are Changing: What's Ahead
So, what does that mean for you? Essentially, if you install an EV charging station at home, the tax credit under the Inflation Reduction Act is 30% of the cost of hardware and installation, up to $1,000. Also, beginning in 2023, the tax credit for business and home installations, will apply to other EV charging equipment like bidirectional (i.e., two-way) chargers.
Businesses that that install new EV chargers or EV charging equipment can also benefit from a tax incentive of up to 30% of the total cost of equipment and installation. But they will have to meet certain labor and construction requirements to be eligible to claim the full incentive.
Before the Inflation Reduction Act, the limit on the amount of the EV charger tax credit for businesses was $30,000 (which still applies to projects completed before the end of 2022). However, under the new law, if you complete the business installa
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