|
Epstein Files Timeline: How the Trump Administration Released Records The New York TimesUS justice department releases heavily redacted cache of Jeffrey Epstein files The GuardianDeadline-day release of Epstein files has White House media management written all over it Sky News5 takeaways from the Justice Department's Epstein files release CNNEpstein Files Include 1996 Child Porn Complaint That F.B.I. Ignored
|
|
Stocks rise with tech boost, yen weakens after Japan rate hike ReutersThe Bank of Japan Raised Rates. Here's Why You Should Care. The Wall Street JournalYen Weakens Despite BOJ Hiking Rate to Highest Level Since 1995 Yahoo FinanceBank of Japan Raises Interest Rates to Highest Level in 30 Years The New York TimesS&P 500: Butterfly Effect From Japan Rate Hike Seeking Alpha
|
|
Sales of previously occupied U.S. homes rose in November from the previous month, but slowed compared to a year earlier for the first time since May.
|
|
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
|
|
