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Iran War Live Updates: Trump Says Peace Deal Is Near The New York TimesTrump says Iran agreement ‘largely negotiated', awaiting finalisation Al JazeeraAxios says proposed US-Iran deal involves opening strait during 60-day ceasefire extension ReutersTrump says Iran deal reopening Strait of Hormuz 'largely negotiated,' will be announced soon
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California Gov. Newsom declares state of emergency for Orange County chemical leak as DA launches probe into its cause CBS NewsLive updates: Orange County toxic tank on path to spill or explode; experts searching for solutions ABC7 Los AngelesCould Garden Grove tank explosion affect Disneyland, Knott's Berry Farm or Angel Stadium? KTLA
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SpaceX's Starship V3—still a work in progress—mostly successful on first flight Ars TechnicaHighlights: Scaled-up SpaceX Starship megarocket finds mixed success in debut test flight CNNSpaceX launches more powerful Super Heavy-Starship rocket on test flight CBS News
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What smart people are saying about the new green card crackdown Business InsiderTrump administration upends green card process, potentially compelling hundreds of thousands to leave US to apply CNNTrump admin says new green card enforcement likely won't apply to those who provide an 'economic benefit' Business InsiderNon-immigrant visa holders must return to home countries to apply for green cards, Trump administration says NBC News
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Iran 'getting a lot closer' to agreement with US, Trump says BBCTrump met with Gulf leaders as he weighs latest Iran proposal to end the war CNNU.S. seeks Iran ceasefire extension as war threats loom The Washington PostLive Updates: Trump says U.S. will only sign agreement with Iran "if we get everything we want" CBS News
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Zelenskyy says ‘time is right' for Ukraine to start process of joining EU Al JazeeraExclusive: Ukraine's Zelenskiy says proposal of associate EU membership 'unfair' ReutersZelenskyy addresses EU leaders calling "associate membership" proposal unfair - Reuters ?????????? ??????
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Kyle Busch died after severe pneumonia progressed into sepsis, his family says The Seattle TimesKyle Busch family releases statement on cause of death JayskiDanica Patrick Sounds Off On Unexpected Death Of Kyle Busch Yahoo SportsFamily says Kyle Busch died from severe pneumonia, sepsis ESPNKyle Busch, two-time NASCAR Cup Series champion, dies at age 41
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Nvidia reported its 12th record-breaking quarter in a row.
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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
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