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Iran's Khamenei Says No Going Back For Middle East Rocked by War Bloomberg.comMiddle East crisis live: US will no longer have safe haven in region, warns Iran's supreme leader after strikes The GuardianMiddle East live: US will no longer have safe haven in region, warns Iran's Khamenei after strikes France 24Iran war latest: No safe haven for US forces in region, says supreme leader The Times
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Asian Stocks Set to Extend Gains on US-Iran Hopes: Markets Wrap Bloomberg.comOil Prices Drop on Prospect of Iran Deal, but Investors Aren't Celebrating Yet WSJOil prices mixed as U.S. military strikes against Iran cloud Middle East peace prospects CNBCWhat happens when the war really ends CNN
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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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While the fall equinox is still a few weeks away, the unofficial end of summer - also known as Labor Day - is upon us. That means a three-day weekend for investors and traders. The stock market is closed for 2022's Labor Day, which falls on Monday, Sept. 5, this year.
For those that may be interested, the bond market is closed for the holiday, too.
Unlike some market holidays, however, there are no early hours ahead of Labor Day. The New York Stock Exchange (NYSE), Nasdaq Stock Market and bond market all have regular trading hours on Friday, Sept. 2.
SEE MORE Hedge Funds' 21 Top Blue-Chip Stocks to Buy Now
Also note that a thin earnings calendar typically accompanies the Labor Day holiday.
As a reminder: Labor Day is a longstanding holiday in the U.S. that celebrates the American worker. The holiday was first adopted by Oregon in 1887, and seven years later, was made a national holiday across the U.S.
Dozens of other countries have a similar celebration called International Workers' Day that falls on the first day in May.
The following is a schedule of all stock market and bond market holidays for 2022. Note that regular trading hours for the New York Stock Exchange (NYSE) and Nasdaq Stock Market are 9:30 a.m. to 4 p.m. Eastern on weekdays. The stock markets close at 1 p.m. on early closure days; bond markets close early at 2 p.m.
2022 Market Holidays
DateHoliday
NYSE
Nasdaq
Bond Markets*
Monday, Jan. 17
Martin Luther King Jr. Day
Closed
Closed
Closed
Monday, Feb. 21
P
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