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☆ First Solar jumps on strong quarter, record backlog in rare bright spot for beaten-down renewable sector
▼ + stars: | 2024-02-28 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog that stretches into the end of the decade. First Solar is one of the few companies that has weathered the sharp downturn in the solar sector. JPMorgan has a price target of $226 for the stock, implying about 56% upside from Tuesday's close. Goldman Sachs lowered its price target for First Solar to $265 from $275 prior despite the company's strong quarter. The investment bank said solar module oversupply and potential changes to U.S. tax credits are key risks for First Solar moving forward.

Persons: Morgan Stanley, Andrew Percoco, Mark Strouse, Corinne Blanchard, Blanchard, Alexander Bradley, Mark Widmar, Goldman Sachs Organizations: Solar, JPMorgan, Deutsche Bank, Deutsche Locations: Perrysburg , Ohio, India, Europe

Read previewRunning a small business is challenging and securing funding is often a major hurdle. Given the high rates of small business failure linked to funding issues, it is apparent that financial preparation is key. I'm a financial planner, and I've identified seven documents that small business owners should have — especially if you need a small business credit card, grant, or a business loan. To ensure your small business is well-prepared to secure funding, it is essential to have the following financial documents in place. 1. Business credit reportUnderstanding and managing your business credit score is essential to secure funding.

Persons: —, I've, Bradstreet, Dun & Bradstreet, DUNS, Experian Organizations: Service, Business, Dun &, Insurance Locations: Dun, Experian

☆ Vanguard launches two new ETFs to hit this sweet spot of tax-free fixed income
▼ + stars: | 2024-02-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors with a focus on tax-free income have two new choices to consider from Vanguard as the asset manager launches a pair of municipal bond exchange-traded funds. Tax advantages The biggest selling point for municipal bond funds is the tax-free income they provide. VTEC follows the S & P California AMT-Free Municipal Bond Index, while VTEI tracks the S & P Intermediate Term National AMT-Free Municipal Bond Index. However, in November, $2.8 billion in assets flowed into intermediate-term muni bond funds, followed by another $2.3 billion in December, Morningstar found. said Foos of municipal bond funds.

Persons: Beth Foos, there's, VTEI, Jeffrey Johnson, Johnson, Morningstar, it's Organizations: Vanguard, California, Bond, Federal Reserve, Morningstar, York Life Investments, Free Municipal Bond Index, Free Municipal Bond, muni, Treasury Locations: California

Increasingly, voters are demanding that the men vying to succeed him address the tradeoffs between fast growth and a healthy environment in the world's fourth most populated country. In recent years, surging commodity prices have fueled fast economic growth and helped Indonesia become a middle-income country. That growth is expected to slow as the boom loses steam, according to a World Bank report. “That means, if the government forces its development, it will involve inefficient and unproductive allocation of resources.”Another campaign issue: food estate programs, massive plantations the government set up to fortify national food security. INDONESIA’S ENERGY TRANSITIONIn 2021, coal-rich Indonesia was the world’s ninth-largest source of carbon emissions that are causing global warming, according to a report by the International Energy Agency.

Persons: —, Joko Widodo, It's, Joko Widodo —, Prabowo Subianto, Josua Pardede, ”, Arianto Patunru, Baswedan, Bhima Yudhistira Adhinegara, El Organizations: Permata Bank, EV, Australian National University, of Economic, Law Studies, International Energy Agency, World Bank, Youth, Bank, El Nino, AP Locations: JAKARTA, Indonesia, Jakarta, Nusantara, Borneo, Anies, Central Java, Widodo, Washington, Kalimantan

☆ Tucker Carlson set to interview Vladimir Putin
▼ + stars: | 2024-02-06 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

Former Fox News host Tucker Carlson said he will interview Russian President Vladimir Putin, becoming the first member of the Western media to interview the Russian leader since the country's invasion of Ukraine almost two years ago. "Why is Vladimir Putin such a bad guy? He's not Saddam Hussein, he's not Adolf Hitler, he's not a danger to the United States," Carlson said in 2017. He is a dangerous authoritarian who has used a hundred billion in U.S. tax dollars to erect a one-party police state in Ukraine," Carlson said in 2022. The far-right commentator's interview with Putin will be released on X and the media startup TuckerCarlson.com.

Persons: Tucker Carlson, Vladimir Putin, Putin, Carlson, Saddam Hussein, he's, Adolf Hitler, Tucker, Volodymyr Zelenskyy, Zelenskyy, Lenin, George Washington Organizations: Fox News, Dominion Voting Systems, CNBC PRO Locations: Ukraine, Moscow, United States

☆ Here's how to pick the best free tax filing option this season
▼ + stars: | 2024-02-04 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +4 min

IRS Free FileA public-private partnership between the IRS and Free File Alliance, a nonprofit comprised of tax software companies, IRS Free File offers free guided tax prep software for eligible filers. If you're comfortable with tax software, Free File has eight partners this season, with varying income eligibility — and some offer free linked state filings. Volunteer tax prep from IRS programsIf you're looking for more guidance, you may also qualify for free tax prep from IRS programs with trained volunteers. The Volunteer Income Tax Assistance, or VITA, program offers free tax prep for taxpayers typically making up to $64,000, in addition to filers with disabilities and limited English proficiency. AARP Foundation Tax-Aide also offers free tax prep for low- to moderate-income older adults.

Persons: Tim Hugo, Hugo, Steven Hamilton Organizations: U.S . Bureau of Labor Statistics, Taxpayers, IRS, Alliance, National Taxpayer, Volunteer, Internal Revenue, The George Washington University, Social Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming

☆ White House, Capitol Hill divide on use of military in Red Sea is getting dangerous for the economy
▼ + stars: | 2024-02-04 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

U.S. import and export data shows that the majority of the country's trade is on foreign-flagged vessels. The Congressional calls to consider prioritizing U.S.-flagged vessels come at a time when the Iranian-backed Houthis continue to attack shipping in the Red Sea. Other nations, including U.S. ally France, have already declared their priority is to escort French-linked vessels after facing nationalistic pressure. "It could also be argued that directing military action to defend U.S. commercial shipping is within this power. However, most vessels transiting through the Red Sea are not U.S. ships, which raises questions about the extent to which these authorities can be exercised," they wrote.

Persons: Gerald R, Dwight D, Eisenhower, Mohammed Al, —, Biden's, Charles, Bud, Darr, Salud Carbajal, Hapag Lloyd, Carbajal's, Tim Kaine, Todd Young, Chris Murphy, Mike Lee Organizations: United States, Ford, Anadolu, Getty, Capitol, U.S, MDS Transmodal, Congressional, Gaza, Senate Foreign Relations, White House, Representatives, MSC, U.S . Navy, Maersk, White, Senate Armed Services, Foreign Relations, Senate, Relations, Counterterrorism Locations: Red, U.S, Iranian, Iran, France, Marshall, United States, East, South Asia, Central Asia

☆ Fahmi Quadir, short seller nicknamed 'The Assassin,' takes aim at for-profit college giant Adtalem
▼ + stars: | 2024-01-30 | by ( Eamon Javers | ) www.cnbc.com time to read: +4 min

Quadir told CNBC she has a short position in the stock, meaning she is betting that the share price will decline. "We believe that Adtalem is completely uninvestable, the number of existential risks that exists today should cause alarm for any investor that's looking into this company," Quadir said. In 2017, DeVry Education changed its DV ticker symbol to Adtalem's current ATGE, completing the rebranding of DeVry into Adtalem. Quadir's report found that among Adtalem's properties, the online college Walden University has a graduation rate of just 29%. Adtalem's stock price has soared over 75% in just seven months, from just over $33 a share in late June, to more than $60 a share at Monday's open.

Persons: Quadir, Safkhet, Bridget Bennett, Rafael Henrique, Lightrocket, DeVry, Adtalem Organizations: Bloomberg, Getty Images WASHINGTON, Walden University, Chamberlain University, Ross University School of Medicine, CNBC, Safkhet, Netflix, Education, DeVry University, Cogswell Education, Blackrock, Vanguard, Department of Education, Higher Locations: Las Vegas , Nevada, U.S, Barbados, Quadir, Adtalem

—Tax credits, such as child tax credit, retirement savings contributions credit, etc. Earlier this month, Congress announced a bipartisan agreement to enhance the current child tax credit. The bill would incrementally increase the maximum refundable child tax credit to $1,800 for 2023 tax returns, $1,900 for the following year and $2,000 for 2025 tax returns. If you can’t see what your tax preparer is working on, get a copy of the tax return and ask questions about each of the entries. If you are due for a refund, you will not receive a penalty and you will receive your tax return payment.

Persons: Courtney Alev, ” Alev, Tom O’Saben, O'Saben, O’Saben, “, ” O’Saben, —, Alev, You’re, you’ve, It’s, ___, Charles Schwab, ” Organizations: —, Credit Karma, Savings, IRS, National Association of Tax, Elderly, People, Social Security, Social, Center, Budget, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: United States

Two-thirds of U.S. taxpayers say they spend “too much” on federal income taxes, as tax season begins. About 7 in 10 say the same about local property taxes, while roughly 6 in 10 feel that way about state sales tax. Generally speaking, Republicans are more likely than Democrats to view taxes as unfair, to say they are paying too much in taxes, and to see taxes as a poor value. “We tend to think of local government as less partisan.”Among those who pay federal income taxes, half say they would prefer having fewer government services if it meant reducing their bill. About one-quarter say they grasp the calculations for federal income tax.

Persons: Chris Berry, ‘ There’s, ”, Danny Velasquez, Velasquez, “, Loretta Mwangi, Grettel, ” Grettel Mesa, Mesa, Charles Schwab Organizations: University of Chicago Harris School of Public Policy, Associated Press, NORC, for Public Affairs Research, University of Chicago Harris School of Public, Democratic, Democrat, ”, federal Social Security, Republican, Charles, Charles Schwab Foundation, Inc, AP Locations: Boston, Baltimore, U.S, Mesa, Fort Lauderdale , Florida

☆ IRS set to launch its free tax-filing pilot program for some taxpayers. Here's what to expect
▼ + stars: | 2024-01-26 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Known as Direct File, the agency's free filing software pilot will begin as an invitation-only service for a group of government workers before rolling out to certain taxpayers in 12 states by mid-March. Direct File comes after a feasibility report authorized by the Inflation Reduction Act. Internal Revenue ServiceDirect File is 'starting small' with 12 statesThe IRS Direct File pilot intentionally starts with a limited group of taxpayers with relatively simple filings, according to IRS officials. While Direct File won't cover state returns, Arizona, Massachusetts and New York residents can immediately continue to state filing by importing Direct File data. While only certain taxpayers can use Direct File, the bilingual software includes built-in live chat support with IRS assistors.

Persons: Daniel Werfel, Kevin Lamarque, Laurel Blatchford, Danny Werfel, Werfel Organizations: Reuters, U.S . Department, Treasury Department, IRS, CNBC, Internal Revenue, Social Locations: Arizona , California, Florida , Massachusetts, Nevada , New Hampshire , New York, South Dakota , Tennessee , Texas, Washington and Wyoming, Arizona , Massachusetts, New York, California

☆ I moved from Malibu to Vegas and bought a $1.9 million home. California is beautiful but it got too difficult to live there.
▼ + stars: | 2024-01-25 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

Gus Lira, a managing partner at a jet chartering company, recently moved from Malibu to Las Vegas. Lira also said the $1.9 million home he got in Vegas would be $8 million in Malibu. AdvertisementLas Vegas is a lot more affordableI had been to Las Vegas many times, but I'd never been anywhere else but the strip. Everything was green, green, green, green, green. Small homes start at $3 million, $4 million, $5 million.

Persons: Gus Lira, Lira, —, it's, I'm, I'd, Gus Lira's, would've, let's Organizations: Service, Business Locations: Malibu, Las Vegas, California, Vegas, Malibu , California, Los Angeles, Texas , Florida, Mexico, Hermosa Beach, Texas, Florida, Miami, Dallas, Houston, Idaho , Wyoming, Orange County, Summerlin, Nevada, Hollywood, Hermosa, Manhattan

☆ Markets 'complacent' about the risks of a Trump win, strategist says
▼ + stars: | 2024-01-23 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Mike Segar | ReutersMarkets are "fairly complacent" about the risks of a second Donald Trump presidency, which could trigger a "tantrum" in long-duration bond markets, according to Guillermo Felices, principal and global investment strategist at PGIM. watch nowSome analysts are also looking ahead through a fiscal and geopolitical lens to November's U.S. presidential election and beyond. 'Fiscal risk' at a time of high deficit The crucial point, Felices acknowledged, is America's deteriorating fiscal position in recent decades. "The market is not really focusing too much on the potential upside risks to yields that are associated with this potential repricing of term premia. [Having] fiscal risks with the sort of deficit that the U.S. is running is a really, really important one that the market will have to come to terms with again."

Persons: Donald Trump, Mike Segar, Guillermo Felices, Felices, Trump, Fitch Organizations: U.S, Republican, New, Reuters, Dow Jones Industrial, Federal, Fed, CNBC, Trump, Bank of England Locations: New Hampshire, Rochester , New Hampshire, U.S

☆ Trump is building his power at home while global leaders dread his return
▼ + stars: | 2024-01-19 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

Trump has invigorated an initially lackluster White House bid by leveraging his multiple criminal indictments to create a narrative of political persecution. On Thursday, CNN’s congressional team reported that senators trying to cut an immigration deal with the White House are running into a problem: Trump. The aid measure is being held up by the immigration showdown to which it was linked — perhaps unwisely many Democrats now think — by the White House. It has caused particular consternation in Europe after the transatlantic alliance was constantly rattled by Trump during his White House term. That’s likely to be a pale imitation of what awaits if he gets back to the White House.

Persons: Donald Trump, Trump, Ron DeSantis, Nikki Haley, Haley, Kevin Roberts –, “, can’t, Kamala Harris, Joe Biden’s, Biden, he’s, ”, Sen, Kevin Cramer, Trump’s, Vladimir Putin, Mike Quigley of, Jim Sciutto, CNN Max, Putin, Michael McFaul, Obama, ” McFaul, ” Trump, Ted Cruz, Marco Rubio, Alejandro Mayorkas, Mike Johnson, Mitch McConnell, reverberations, America’s, Christine Lagarde, Heritage’s Roberts, Roberts, that’s, ” Roberts, Jamie Dimon, ” Dimon, Philipp Hildebrand, Emmanuel Macron, ” Macron Organizations: CNN, Florida Gov, South Carolina Gov, New Hampshire, Trump, Economic, Business titans, Heritage Foundation, Republicans, Capitol, GOP, Representatives, Republican, North Dakota Republican, Ukraine, Democratic, Congressional Ukraine Caucus, White, Spirit of, Homeland, US, Colorado Supreme, America, tony, European Central Bank, NATO, CNBC, ” BlackRock, Swiss National Bank Locations: Iowa, Washington, Ukraine, New, Davos, Swiss, Mike Quigley of Illinois, Moscow, Russian, Spirit of America, Ted Cruz of Texas, Marco Rubio of Florida, Europe, Iran, Paris, Switzerland, it’s, China, United States, France

The topic of Donald Trump has dominated dinners and parties at Davos, with many in attendance at the World Economic Forum mulling the former president's potential return to the White House after his resounding Iowa caucus victory. 2024 predictionsJamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Steve Schwarzman, Chairman, CEO & Co-Founder Blackstone Group, speaking on CNBC's Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBCBlackstone CEO Stephen Schwarzman expressed another common theme among executives — that both Trump and U.S. President Joe Biden are flawed choices. Marc Benioff, co-founder, chairman and CEO Salesforce, speaking with CNBC's Sara Eisen at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024.

Persons: Donald Trump, Evelyn Hockstein, —, I'm, Trump's, Jamie Dimon, JPMorgan, Adam Galici, Jamie Dimon wouldn't, CNBC's, Dimon, Biden, Trump, he's, Steve Schwarzman, Stephen Schwarzman, Joe Biden, Schwarzman, Ben Smith, Smith, Marc Benioff, Salesforce, Bloomberg's Brad Stone, CNBC's Sara Eisen Organizations: Reuters, Switzerland — Global, Washington , D.C, Trump, ., JPMorgan Chase, CNBC, NATO, White, U.S, Capitol, Blackstone Group, CNBC Blackstone, Biden, Wall Street Locations: Des Moines , Iowa, U.S, Reuters DAVOS, Switzerland, Washington ,, Davos, Trade, China, Mexico, United States

☆ JPMorgan CEO Jamie Dimon says Trump was 'kind of right' about NATO and immigration
▼ + stars: | 2024-01-17 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Read previewJPMorgan Chase chief executive Jamie Dimon said that former President Donald Trump was "kind of right" about NATO and immigration and urged Democrats to "be a little more respectful" of voters who are backing the ex-president's 2024 campaign. "When people say MAGA, they're actually looking at people voting for Trump, and they think they're voting — they're basically scapegoating them, that you are like him. But I don't think they're voting for Trump because of his family values," Dimon said. "He's kind of right about NATO. "But he wasn't wrong about some of these critical issues, and that's why they're voting for him.

Persons: —, Jamie Dimon, Donald Trump, Dimon, MAGA, they're, Trump, Joe Biden, Biden Organizations: Service, Chase, Business, CNBC, Trump, NATO, Maga Republicans Locations: Davos, China, Mexico, United States, Iowa

☆ Jamie Dimon: Trump was right about key issues and bashing MAGA will hurt Biden
▼ + stars: | 2024-01-17 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Jamie Dimon has a warning for Democrats: Don’t dismiss Trump supporters as people who are exclusively attracted to his personality. Former President Donald Trump was right about some critical issues, the JPMorgan CEO says. “I wish the Democrats would think a little more carefully when they talk about MAGA,” Dimon told CNBC on Wednesday from the World Economic Forum in Davos. Dimon, who has clashed with Trump in the past and previously described himself as “barely a Democrat,” said that people are “basically scape-goating” Trump supporters. “I don’t think they are voting for Trump because of his family values,” Dimon said.

Persons: Jamie Dimon, Don’t, Donald Trump, “, MAGA, ” Dimon, ”, ” Trump, Trump, Trump’s, Dimon, Bloomberg Television it’s, Nikki Haley, “ I’ve, Hillary Clinton’s, Barack Obama’s, Biden’s Organizations: New, New York CNN, Trump, CNBC, Economic, NATO, Republican, JPMorgan, Bloomberg Television, JPMORGAN, Wednesday Locations: New York, Davos, Dimon, China, Mexico, United States

I get my tax documents in early. I've since found a reliable accountant who specializes in working with small business owners and I've leveled up my tax preparation to make tax season even smoother for me and my accountant. I've aligned my processes with my accountant'sMy first tax season working with Danny involved a learning curve and some unavoidable back-and-forth. This year, when I send him my tax documents for his next steps they'll basically be turnkey for him — plug and play. Aligning with Danny's systems makes my review and approval of the completed tax documents he shares with me that much easier as well.

Persons: —, I'd, That's, Danny, He's, I've, Danny's, they'll, I'm Organizations: Service

☆ An heiress is seeking 50 strangers to help her give away her $27 million inheritance
▼ + stars: | 2024-01-13 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +3 min

Marlene Engelhorn, 31, is set to give away $27 million of her inheritance. She is recruiting 50 strangers to help her distribute the money to worthy causes in Austria. Advertisement"In Austria, the wealthiest one percent hoards up to 50 percent of the net wealth," Engelhorn said, per the Washington Post. Austria abolished inheritance and gift taxes in 2008, while the United States lacks a federal inheritance tax, with only some states imposing such taxes, the Washington Post reports. Wealth taxes are the least we can do to take responsibility.

Persons: Marlene Engelhorn, Friedrich Engelhorn, —, Traudl, Engelhorn, Engehorn Organizations: BASF, Service, Austrian, Good, Daily Mail, Millionaires, Washington Post Locations: Austria, Salzburg, Amsterdam, Washington, United States

☆ Big Tech had a huge 2023. Why it may be time to part with some of your winners
▼ + stars: | 2024-01-11 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

If you rode your Big Tech winners into the new year, now might be the time to consider whittling down a few of those overweight positions. "It's the only way to consistently buy low and sell high, but no one ever wants to do it," duQuesnay said. He noted that the iShares Russell 2000 ETF (IWM) is a good way to get broad exposure to the space. The Federal Reserve's rate-hiking campaign made yields on an array of assets, ranging from Treasurys to money market funds, attractive. Ethridge, who bought six- and 12-month brokered certificates of deposit for clients in 2023, is going for longer-dated instruments these days.

Persons: rebalancing, Blair duQuesnay, duQuesnay, Morningstar, Amy Arnott, Arnott, it's, Barry Glassman, Russell, didn't, Malcolm Ethridge, Ethridge, Tesla, Glassman Organizations: Big Tech, Microsoft, Nvidia, Tesla, Ritholtz Wealth Management, Wealth Services, Wealth, AMD, Federal, Taxpayers Locations: New Orleans, North Bethesda , Maryland, Rockville , Maryland, rebalance

☆ Tax filing season kicks off Jan. 29. Here's what taxpayers need to know
▼ + stars: | 2024-01-08 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The tax season officially kicks off Jan. 29, which marks the first day the IRS will accept and process 2023 tax returns, the IRS announced Monday. Most taxpayers must file federal returns and pay balances by April 15 to avoid penalties and interest. But the agency urges taxpayers to begin the filing process sooner. IRS Free File, which offers free guided tax prep through software partners, will open Jan. 12 and will hold returns until they can be filed with the IRS. The IRS expects to receive more than 128.7 million individual tax returns by the federal deadline.

Persons: Jan, Danny Werfel Organizations: IRS, Taxpayers, Finance

☆ These bonds offering tax-free income will still be a good deal in 2024
▼ + stars: | 2023-12-27 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +6 min

Municipal bonds, favored for their tax-free income, are looking at a solid year in 2024 and could be a compelling purchase for investors hoping to lock in attractive yields. "We will likely see positive total returns," said Cooper Howard, fixed income strategist at the Schwab Center for Financial Research. "Munis are one of the best things going in the fixed income space," he said. It provides all the attributes of fixed income, and it serves as ballast to an overall diversified portfolio." Naturally, rates are on the minds of fixed income investors and strategists, as well as recession risk.

Persons: Cooper Howard, who've, Peter Higgins, Ben Barber, Schwab's Howard, Paul Malloy, It's, Beth Foos, Malloy, Howard, you've Organizations: Schwab Center, Financial Research, Morningstar U.S, Municipal, Shelton Capital Management, York Life Investments, Franklin, AAA, Vanguard, Bond, Morningstar Locations: New York , New Jersey, California

☆ A swanky 10,000 square-foot home in San Francisco just lost half of its $20 million value in 3 years
▼ + stars: | 2023-12-06 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

A six-floor duplex home in San Francisco had its price slashed by $10 million in just three years. It was bought for $20 million in 2020, but then sold for only half that value in November. Home values in San Francisco have been sinking in the last year after reaching a peak in April 2022. AdvertisementA 10,000-square-foot duplex apartment in San Francisco was just sold for only half of its $20 million value from three years ago, as the city's housing market suffers a recent slump. Home prices have been slashed across the US over the last year, but San Francisco is often a poster child for the decline because property there is notoriously expensive.

Persons: —, Rohin Dhar, Leslie Stretch, Zillow, Business Insider's James Faris Organizations: Service, Bay, Business Locations: San Francisco, Calcutta, Francisco

☆ Supreme Court hears tax case on 'income': It may 'have the biggest fiscal policy effects of any court decision,' expert says
▼ + stars: | 2023-12-05 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

The Supreme Court is set to hear oral arguments Tuesday on a case that could affect broad swaths of the U.S. tax code and federal revenue. The closely watched case, Moore v. United States, involves a Washington couple, Charles and Kathleen Moore. Designed as a transition tax, the legislation required a one-time levy on earnings and profits accumulated in foreign entities after 1986. While the 16th Amendment outlines the legal definition of income, the Moore case questions whether individuals must "realize" or receive profits before incurring taxes. It's an issue that has been raised during past federal "billionaire tax" debates and could affect future proposals, including wealth taxes.

Persons: Moore, Charles, Kathleen Moore, Donald Trump's, Moores, Matt Gardner Organizations: Taxation, Economic, Finance Locations: United States, Washington

☆ Swiss Banque Pictet pays $123 mln for helping clients evade US taxes
▼ + stars: | 2023-12-04 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

According to prosecutors, U.S. taxpayers with Pictet accounts in Switzerland and elsewhere evaded about $50.6 million in taxes between 2008 and 2014. As part of the agreement, Banque Pictet agreed to pay $122.9 million to the U.S. Treasury. As part of the agreement, Pictet, which oversees 632 billion Swiss francs ($724 billion) in client assets, will implement remedial measures and cooperate with the authorities' investigation. U.S. authorities have long accused Swiss banks of helping wealthy Americans evade taxes, and Pictet signalled it had been in contact with the U.S. for more than a decade. Credit Suisse in 2014 agreed to pay a $2.5 billion fine for helping Americans evade taxes in a conspiracy that spanned decades.

Persons: Andrew Kelly, Banque Pictet, Jim Lee, Pictet, Julius Baer, Renaud de Planta, Marc Pictet, Luc Cohen, Noele, Jan Harvey, Bill Berkrot, Christina Fincher Organizations: Internal Revenue Service, Washington , D.C, REUTERS, Banque Pictet, Justice Department, Banque, U.S . Treasury, U.S, Credit Suisse, UBS, Prosecutors, Noele Illien, Thomson Locations: Washington ,, Swiss, Switzerland, Pictet, New York, Zurich

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