Author: Press Room

Hush money sounds dirty or illegal, but many businesses pay it on occasion. There are important tax rules at play, and everyone in business should know the key rules. Let’s start with the fact that just about every kind of payment has tax consequences, to both the recipient and to the one who paid the money. 1. Hush Money is Income. If you get paid hush money, is it income you have to report on your taxes? Yes, the IRS says almost everything is income, and that certainly applies to hush money, whatever the circumstances. In fact, almost all legal…

The first-quarter earnings season will be challenging with the economy laboring under still elevated inflation and the recent banking crisis. Earnings are slated to decline by -6.6% year-over-year, but if analysts are to be believed, this quarter should mark the nadir of the pace of earnings contraction. The items weighing on earnings include slowing economic growth, rising costs, and a strong dollar. The ability of companies to pass on higher prices to protect profit margins will remain a critical variable. With the rising risks of a recession in 2023 and the possible contraction in credit emanating from the banking crisis,…

For multiple reasons, senior living has long been associated with leafy suburban settings. Locations close to seniors’ suburban homes, on land affordable enough for the development numbers to easily pencil out, just made sense. So did catering to folks who at younger ages had fled city life and never intended to look back. But as Baby Boomers reached retirement age, the model appeared to grow steadily less fail-safe. Many Boomers returned to cities as empty nesters, embracing the culture, vibrancy, nightlife and walkability of city living. Once they became old enough to seek senior living, they didn’t want to leave…

New Orleans, a city dependent on tourism, adopted new regulations on Airbnb-style short-term rentals on Thursday after an emotional debate between residents and council members. When the new rules take effect in July, owners of short-term rentals in the city will be limited to licensing one property per block and the operator must live on the property – whether it’s the owner or a renter allowed to reside there.The decision came after a federal appeals court ruling in August obliterated a regulation designed to stop “whole house” vacation rentals by absentee homeowners, The Associated Press reported. The ruling also reignited…

Hours after his historic arrest in Manhattan, former President Donald Trump lashed out in a speech Tuesday night at each of the prosecutors currently investigating him.Trump called Manhattan District Attorney Alvin Bragg, who obtained a grand jury indictment charging the ex-president with nearly three dozen felony counts of falsifying business records, a “criminal” who should “resign.”Department of Justice Special Counsel Jack Smith, who is leading two probes that are eyeing the ex-president for potential crimes, is a “lunatic,” Trump told a crowd at his Mar-a-Lago club in Palm Beach, Florida.Trump said that Fani Willis, the Fulton County district attorney who…

American Airlines is getting rid of its traditional frequent flyer award chart as the carrier moves toward dynamic pricing for mileage redemptions, the latest shift in its lucrative AAdvantage loyalty program.Starting late Wednesday, the carrier will publish starting levels for how many frequent flyer miles are likely required to redeem for a ticket in certain regions — for example, 7,500 for a one-way ticket within the contiguous 48 U.S. states and Canada. Previously, the chart showed redemption levels that were static.American in December said it would get rid of different redemption categories, MileSAAver and AAnytime awards, which have set minimum…

As the economy slows, are employers starting to regain the upper hand in negotiations with employees and job seekers? Pay is always an issue, of course, but in the wake of the pandemic, so too is how much time employers want people to work on site versus how much they are willing to let employees work remotely. Recent data from the Bureau of Labor Statistics found that only 27.5% of private-sector businesses reported that their employees worked from home or another remote location some or all of the time between August 1, 2022 and September 30, 2022. In other words,…

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The most well-known cryptocurrencies, Bitcoin and Ethereum, are ending the week on a bearish note, with both coins continuing to lose value. Bitcoin recently fell below $28,000, while Ethereum has fallen to $1,800. Although Bitcoin reached $28,500 earlier this week, the rally was short-lived, as the price quickly fell. Similarly, Ethereum failed to reach $1,800 on Sunday morning, causing investors to be concerned.However, the reason for the latest decline can be traced back to the news that Binance, a leading crypto exchange, is facing crypto regulations in the US and Dubai. The Virtual Assets Regulatory Authority (VARA) in Dubai has told Binance,…

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