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A rule change (finally) takes effect, but only partiallyA rule change that greatly increases the reporting responsibility of third-party payment platforms to issue 1099-Ks to users was supposed to go into effect in 2021. And the IRS notes in its 1099-K guide that some companies may choose to send a 1099-K to users with business transactions below $5,000. Some things won’t change — like your tax obligation and the chance for errorsKeep in mind, the rule change does not in any way alter your tax obligations. You’ve always been required to report all your taxable business transactions. Familiarize yourself with how the platforms where you do business plan to handle their 1099-K reporting and what they may need from you to facilitate that.
Persons: you’re, you’ve, Wendy Walker, ” Walker, You’ve, , David Mellem Organizations: CNN, IRS, Ashwaubenon Locations: , Sovos, Maryland, Virginia , Massachusetts, Vermont
AdvertisementKruze Consulting, which provides accounting services to early-stage, VC-backed companies, released a study showing that the average seed-stage founder who is also a startup CEO makes $132,000 a year. The consultancy recently analyzed 450 of its seed-stage startup clients' payroll records to determine the average base salary for different jobs at early-stage companies. Kruze's study says that employee compensation accounts for around 75% of the total operating costs for its startup clients. According to Kruze's analysis of its early-stage startup payrolls, engineers can make anywhere between $65,000 and $235,000 annually. Equipment such as laptops and work stations cost startups between $2,500 and $3,000 per employee, Kruze's data found.
Persons: Kruze Organizations: Kruze Consulting, Kruze, CPO, Engineers, Francisco Market, Major Tech, San Francisco Market, Big, Austin Locations: Austin, Big Tech
Stocks could be in store for a correction in 2025 as inflation remains persistently above the Federal Reserve's 2% target, according to Stifel Financial. The firm cited stubborn price pressures alongside sluggish growth in gross domestic product as key catalysts for its S & P 500 forecast, with Bannister seeing real U.S. GDP slowing to about 1.5% by the middle of 2025. He forecast two more rate reductions in 2025 before the Fed ultimately concludes cutting rates in the second half of 2025. Bannister's forecast comes as stocks have lately cooled in response to a lack of progress in bringing inflation down further. The S & P 500 has advanced more than 27% in 2024, the Nasdaq Composite has gained more than 32%, and the Dow Jones Industrial Average is up 17%.
Persons: Barry Bannister, Bannister Organizations: Healthcare, Utilities, Staples, Reserve, Funds, Nasdaq, Dow Jones
President-elect Donald Trump's proposed tariffs could have unintended consequences for certain brands – negative sentiment from Chinese consumers that could hurt U.S. companies' sales in that country, Bernstein found. "The tail risk of China demand backlash is less likely and harder to predict but could be devastating for China-exposed brands," analyst Aneesha Sherman wrote in a Tuesday note. Although Trump's proposed tariffs represent a U.S. policy shift, all Western brands will likely experience a downturn in sentiment, "as Chinese consumers will bucket them together as foreign brands rather than discern between US vs. Canada (e.g. A similar fallout also occurred among Chinese consumers during 2021 after the Better Cotton Initiative suspended its operations in China's Xinjiang region. Chinese consumers then boycotted not only U.S. brands such as Nike, but also European names such as H & M, Adidas and Burberry, the analyst noted.
Persons: Donald Trump's, Bernstein, Aneesha Sherman, Trump, Trump's, LULU, Sherman, — CNBC's Michael Bloom Organizations: Nike, Capri Holdings, . Canada, Adidas, Cotton Initiative, Burberry Locations: China, Canada, Mexico, U.S, China's Xinjiang
Here are Monday's biggest calls on Wall Street: Bank of America downgrades Advanced Micro Devices to neutral from buy Bank of America said it's concerned about market share gain potential slowing. Deutsche Bank initiates First Citizens as buy Deutsche Bank said it has a favorable long term view of the commercial banking company. Bank of America upgrades PayPal to buy from neutral The firm said the stock is a turnaround story. Bank of America downgrades Capital One to neutral from buy Bank of America said the Trump trade has played out for Capital One. Bank of America upgrades TaskUs to buy from neutral Bank of America said the outsourcing company is "best in class."
Persons: it's, Morgan Stanley, Goldman Sachs, Goldman, it's bullish, Robinson, Wells, Bernstein, JD …, Jefferies, McCormick, Biogen, Morgan, director's, JEF, OW, TD Cowen, Blackstone, Charles Schwab, Robinhood, Schwab, HOOD, Trump, SOFI, Truist, Tesla, Deutsche, Roth Organizations: Bank of America, Devices, AMD, Holdings, UBS, ELAN, Deutsche Bank, Citizens, First Citizens, JPMorgan, Broadcom, VMWare, Citi, Morgan Stanley downgrades Bank of America, Morgan Stanley, Bank, New York Mellon, Cap Bank, Blackstone, Barclays, " Bank of America, PayPal, Capital, COF, of America, Newell Brands, Nokia, Telecom Locations: China, C.H, Real, robotaxi
The Salt Typhoon hack is one of the largest attacks on US telecommunications ever, officials say. Senate Intelligence Committee Chairman Mark Warner told The Washington Post that the hack is the "worst telecom hack in our nation's history by far." Senior White House officials on the call said the hack has been ongoing for "likely one to two years." She added that the White House "has made it a priority for the federal government to do everything it can to get to the bottom of this." Neuberger said that White House leaders are meeting three times a week to discuss the hack.
Persons: Anne Neuberger, Mark Warner, Warner, Neuberger, Biden Organizations: Verizon, NSA, Microsoft, White House, Congressional Research Office, Lumen Technologies, NBC, Senate, Washington Post, New York Times, Justice Department, FBI, White Locations: China
At 4.1%, the unemployment rate remains historically low. (For context: The unemployment rate never dropped below 5% in the 1970s or the 1980s.) Expectations were for the unemployment rate to have climbed from 4.1% to 4.2%, with 214,000 jobs added. “With the current jobs market cooling down quite a bit from the Great Resignation, and with inflation, people don’t feel secure making the leap” to new roles, Wigert said. Not all economists agree that the U.S. labor market is experiencing unusual tensions — and what frictions do exist have, in certain cases, immediately identifiable causes.
Persons: Dan Hevia, ” Hevia, Hevia, “ I’m, , Guy Berger, , ” Berger, what’s, Gallup, Ben Wigert, Wigert, they’re, Kamala Harris, Donald Trump, Harris, Trump’s, Wells, Goldman Sachs, Thomas Ryan Organizations: New, NBC News, Labor Statistics, of Labor Statistics, Glass, Gallup, , Biden, Trump, Capital Economics, Vanguard, Locations: New York City, U.S
CNN —A new analysis by Fidelity Investments, one of the largest providers of 401(k) retirement plans, found that the number of accounts with balances topping $1 million rose by 9.5% in the third quarter. The average balance in that group was $1.616 million, up from $1.595 million in the prior quarter. And the median — which represents the level below which half of the accounts had lower balances — was just $30,600. And it noted that 6,000 of the 26,000 401(k)s for which it serves as record keeper now have an auto-portability feature, which provides an automatic rollover service for those with small balances. Making it easier to move small 401(k) balances from one plan to another throughout your career can pay off in the long term.
Persons: Xers —, , Sharon Brovelli, haven’t Organizations: CNN, Fidelity Investments, Fidelity, IRA, of America, Vanguard
In 2024, the polls conducted in the last two weeks understated his support by 2.4 points on average. First, it’s possible that the polls — once again — failed to capture enough new voters or voters who changed their votes from backing Biden in 2020 to backing Trump in 2024. This is a statistical correction that pollster used this cycle to address the previous undercount of Trump voters. Properly understood, pre-election polls can play an important role in democracy by providing a sense of what outcomes seem possible. Instead, we should consider how we can use pre-election polls in ways that convey the electoral possibilities at play and better describe the uncertainties involved.
Persons: America’s, can’t, Donald Trump, pollsters, , , pollsters ’, Wisconsin —, Trump, Biden, Nate Silver, It’s Organizations: NBC, Trump, Democratic, Biden, Trump voters, Gallup, Pew Research, American Association of Public Locations: , New York, Texas, Wyoming, Nevada, Arizona, Georgia, North Carolina , Michigan, Nevada , Pennsylvania, Wisconsin, North Carolina, Michigan , Nevada , Pennsylvania,
AdvertisementIntel's stock dropped 6% on Tuesday after the company announced the departure of CEO Pat Gelsinger on Monday. Intel stock dropped 6% Tuesday as investors reacted to the departure of the chip maker's CEO, and Wall Street analysts seem to think the company future remains uncertain. The stock dropped in Tuesday trades to close at %22.47 per share after the company announced on Monday that CEO Pat Gelsinger would be leaving the company. Intel chair Frank Yeary said the company is committed to restoring investor confidence, but Wall Street analysts say it won't be easy. Other analysts say that separating the two units within Intel would only temporarily boost stock prices.
Persons: Pat Gelsinger, It's, Frank Yeary, Gelsinger —, That's, Vivek Arya, Trump, Arya, Pat Organizations: Intel, Wall Street, Citi, Bank of America, Wedbush Securities
Goldman Sachs has refreshed its lists of top global stock picks for December by adding some and removing others. These stocks are featured in the investment bank's "Conviction List - Directors' Cut," a "curated and active" list of its buy-rated stocks. There have also plenty of additions to the Directors' Cut, including the following three stocks which Goldman gives over 40% upside potential over the next 12 months. KHI's share price has underperformed these two peers by 80% to 100% year-to-date, analyst Yuichiro Isayama noted. PetroChina Goldman is also bullish on Chinese oil and gas giant PetroChina .
Persons: Goldman Sachs, Goldman, Novonesis, Georgina Fraser, Yuichiro Isayama, PetroChina Goldman, Nikhil Bhandari, Bhandari, — CNBC's Michael Bloom Organizations: Companies, Lenovo, Air Liquide, Nasdaq, Kawasaki Heavy Industries, Japan's Kawasaki Heavy Industries, Mitsubishi Heavy Industries, IHI Corporation, Tokyo Stock Exchange, Hong Kong, PetroChina, Shanghai Stock Exchanges, Pan, Matthews China Active Locations: New Zealand, Asia, Europe, Danish, Nasdaq Copenhagen, U.S, Hong Kong, Pan Asia
President-elect Donald Trump's trade policies could spell good news for the U.S. steel industry, according to Goldman Sachs. Heading into next year, analyst Mike Harris initiated coverage on steel producers Nucor , Commercial Metals Company and Cleveland-Cliffs with buy ratings. For Cleveland-Cliffs, he anticipates about 3% annual volume growth and 1% annual pricing growth, seeing a 47% compound annual growth rate over the next two years. While shares of Nucor were flat in the premarket following the move, Commercial Metals and Cleveland-Cliffs were around 1% higher. This year, Commercial Metals has been solidly in the green, with shares rising more than 23% year to date.
Persons: Donald Trump's, Goldman Sachs, Mike Harris, Trump, Harris Organizations: Commercial Metals Company, Metals, Commercial Metals Locations: Cleveland, U.S, Canada, Mexico, China, Russia, Brazil, India, Nucor
Netflix may be poised for even more gains ahead with the company at its peak financial position, according to Evercore ISI. "[A]t a high level, what our survey results and recent events (e.g. Q3 EPS and the massive success of the Tyson-Paul fight) suggest is that Netflix is in the strongest position financially, fundamentally and competitively that we have ever seen," he told clients this week. The recent survey results revealed that "core Netflix" metrics in the U.S., France and Germany were "reasonably positive," Mahaney noted. This comes as Netflix's live events are already gaining traction.
Persons: Mark Mahaney, Tyson, Paul, Mahaney, Mike Tyson, Jake Paul Organizations: Netflix, ISI, Disney, Amazon Prime, NFL, Squid Games, WWE Raw, Wall Locations: U.S, France, Germany
Payments processing company Block is one of Bernstein's favorite stocks heading into 2025. Analyst Harshita Rawat, who holds an outperform rating on the stock, raised her price target on shares to $120 from $90. It also owns digital wallet company Cash App and buy-now-pay-later company Afterpay. "Looking into 2025, we see potential for mid-teens gross profit growth driven by incentives around increasing direct deposit penetration (the #1 driver of long-term growth), growth in borrow and commerce initiatives (e.g., Cash App and Afterpay on Cash App Card). The stock also has the potential for inclusion in the broad market S & P 500 index, she added.
Persons: Harshita Rawat, Rawat, Cash, — CNBC's Michael Bloom Locations: Friday's
On November 21, a man was formally charged in connection to the disappearance of 32-year-old Ella Goodie. In October 2022, Ella’s case was featured in Dateline’s ‘Missing in America’ series. Dateline spoke with Ella’s friend Felicia Broussard, who said she last spoke with Ella on March 8, 2022. In April, 2022, the Louisiana State Police posted about Ella’s disappearance. Anyone with information regarding Ella’s disappearance is asked to call the Louisiana State Police at 318-484-2194.
Persons: Ella Goodie, Ella’s, Felicia Broussard, Ella, Felicia, Dereck, Brandon Francisco, Francisco, Brian Cespiva, Cespiva, Dateline Francisco, Brandon Jermaine Francisco, Organizations: Louisiana State Police, Audi, Dateline, Attorney’s, Western, Western District of Locations: Texas, Lafayette , Louisiana, St, Joseph , Missouri, Louisiana, Dereck Senegal, U.S, Western District, Western District of Louisiana
AdvertisementAndrew Yeung landed roles at Google and Meta by perfecting his résumé. I was able to land a six-figure role at Google as a global product lead and Meta as a business planning and operations lead. A sample of the résumé that helped Andrew Yeung land jobs at Google and Meta. Most job seekers send out the same résumé everywhere, but recruiters and managers can easily spot the "spray and pray" approach. For every line item in your résumé, ask yourself: "How does this impact the bottom line of the company?"
Persons: Andrew Yeung, Yeung, Andrew Yeung Master, Andrew Yeung's, you've Organizations: Google, Meta, Spotify, Ivy League, EG
Rethinking the 4% rule in retirement
  + stars: | 2024-11-25 | by ( Jeanne Sahadi | ) edition.cnn.com   time to read: +6 min
The most commonly recommended rule of thumb is the so-called 4% rule, which means you spend 4% of your portfolio every year, on an inflation-adjusted basis. When you die, your nest egg could be almost as large if not larger than it was on your first day of retirement. For example, Morningstar ran simulations on a $1 million portfolio over 30 years using the 4% rule. That’s because the rule is based on a very high probability that you never exhaust your nest egg. “It’s not just about getting employees to retirement but (helping them figure out) what to do once they’re in retirement,” Williams said.
Persons: you’d, William Bengen, Morningstar, ” Christine Benz, , Rob Williams, Charles Schwab, Williams, It’s, Mark Warshawsky, Warshawsky, Craig Copeland, “ It’s, ” Williams Organizations: CNN, Social Security, Social Security Administration, Social, American Enterprise Institute, American Council for, Research
This market is starting to summon the lighthearted take on a mullet haircut: business in the front, party in the back. BTC.CM= YTD mountain Bitcoin, YTD Every bullish argument for bitcoin comes down to "More people will soon have more ways to buy more of it." I've tracked the interplay between bitcoin and Nvidia shares for a while. The market's immediate response was simply to allow Nvidia to hold onto the $2.3 trillion in market value it's added this year, but not to pile on more. Meaning the current pace of new money entering these funds is not as heavy relative to total market value as it was nearly four years ago.
Persons: Trump, bitcoin, I've, John Roque, Warren Pies Organizations: Nasdaq, Nvidia, Nvidia ramped, Vanda Research, Trump, 22V Research, Bloomberg, Federal Reserve, 3Fourteen Research Locations: lockstep, bitcoin
FanDuel parent Flutter Entertainment is poised for even more gains ahead as its U.S. growth takes off, according to Goldman Sachs. Analyst Ben Andrews initiated coverage of the online sports betting operator with a buy rating and $320 price target. Andrews sees upside to Flutter's 2027 revenue guidance for existing states and sees double-digit percentage upside to Wall Street's consensus targets on Flutter's U.S. EBITDA in 2027 and 2028. S & P) and Flutter building a track record of consistent delivery and as a compounding cash generator." The company continues to acquire new customers in existing states, which "Flutter is doing more efficiently than competition, supported by their scale," Andrews said.
Persons: Goldman Sachs, Ben Andrews, Andrews Organizations: New York Stock Exchange, London Stock Exchange, U.S
President-elect Donald Trump's second term could spell big gains for Robinhood , according to Bernstein. Analyst Gautam Chhugani, who has an outperform rating on the stock, increased his price target by $21 to $51 and named it his top "crypto deregulation" trade. "But under a potentially new pro-crypto SEC, this looks set to change, and we expect HOOD to be the biggest beneficiary of crypto regulatory tailwinds." Among the 17 analysts covering Robinhood, nine have a strong buy or buy rating, according to LSEG data. On the other hand, seven have taken a neutral stance with a hold rating and one has an underperform rating.
Persons: Donald Trump's, Bernstein, Gautam Chhugani, skyrockets, Chhugani, Gary Gensler, HOOD, , Oppenheimer, Teresa Goody Guillén –, BakerHostetler, Trump, Owen Lau Organizations: Robinhood, Securities and Exchange Commission, Trump, SEC Locations: HOOD
Uncertainty among U.S. shippers is escalating into 2025 with the expectation of new Trump tariffs and the possibility of a new ports strike that could begin in mid-January. The earliest new tariffs could be in effect is in late February or early March, according to an alert from C.H. Travel time for ocean freight from China to the East Coast and Gulf Coast ports is 40-55 days. He added that making these types of decisions has become part of the typical uncertainty that the supply chain needs to be prepared to face. "I was running a high-tech manufacturing operation before I took this job and we did manufacturing through China," Rhodes said.
Persons: Honour Lane Shipping, Robinson, USMX, Corey Rhodes, Rhodes Organizations: Trump, CNBC, Honour Lane, ILA, United States Maritime Alliance, Whirlpool, AB InBev, Danone Locations: Asia, Southern California, New England, Texas, China, East Coast, Gulf Coast
Full coverage car insurance provides liability insurance and coverage for your car (collision and comprehensive). Best Cheap Full Coverage Car Insurance for Discounts: Farmers Auto InsuranceWhile other providers list less than 12 car insurance discounts, Farmers has over 23. Tips for Finding the Cheapest Full Coverage InsuranceFull coverage car insurance is more expensive than the minimum coverage. Cheap Full Coverage Car Insurance Frequently Asked QuestionsWhat does full coverage car insurance consist of? The standard full coverage car insurance consists of liability insurance, collision insurance, and comprehensive insurance.
Persons: we've, Chubb, GEICO, It's, Read, USAA, you'll, JD Power Organizations: Farm Auto Insurance, State, Farm, State Farm, Farmers Auto Insurance, Farmers, Insurance, Owners, Auto, Drivers, Luxury Vehicles, Chubb, People, Poor, GEICO, Customer Service, Erie Auto Insurance, North Central, District of Columbia, Military, Auto Insurance Military, National Guard Reserve, . Insurance, Toyota, JD, Better Business Bureau, Consumer Affairs Locations: Rhode Island and Massachusetts, New York, California, Erie, North, Chevron
AdvertisementCustomer-friction concerns, partnership hiccups, compatibility questions, latency problems, and accuracy issues have snarled progress, according to internal Amazon documents and multiple people involved in the project. AdvertisementA product of this scale is "unprecedented, and takes time," an Amazon spokesperson told Business Insider. Related storiesFor example, without more clearly defined responsibilities with third-party partners, Amazon expected further delays in the launch. AdvertisementLatency has been a particularly tough problem for the AI Alexa service. Related storiesNew risksIn late August, Amazon discovered several new risk factors for the AI Alexa service.
Persons: Alexa, that's, Amazon, Taylor Swift, they're, ChatGPT, Andy Jassy, Andy Jassy Mike Blake, Claude Haiku, Rohit Prasad, Claude, AGI NurPhoto, , Fortune, Amazon's Organizations: Uber, Ticketmaster, Alexa, Echo, Amazon, Business, Bloomberg, TV, Reuters, General Intelligence, AGI, Companies
It builds on the P/E ratio (price-earnings ratio) by incorporating the expected long term earnings growth rate, providing a more dynamic perspective. Using a two-axis growth of a similar relative scale, we can normalize and compare BJ's revenue growth to Costco's. Costco's growth rate is better than that of its smaller competitors, but is the stock itself a better value? Over the past five years, Costco has experienced a growth rate of 11%, and BJ's is a more modest but still respectable 7%. BJ's PEG ratio is 21/7 = 3.
Persons: BJ, I've, BJ Jan Organizations: BJ's Wholesale Club Holdings, BJ's, Costco, Walmart, CNBC, NBC UNIVERSAL Locations: Marlborough , Massachusetts, East Coast, Midwest
If we could give the Apple AirTag an award, we would. The Apple AirTag is also on sale for its lowest price ever. A single Apple AirTag usually retails for $29 but is currently 34% off, bringing the price down to $19. The beauty of the Apple AirTag is how adaptable it can be. You can currently get the Apple AirTag on sale for $19, which is its lowest price ever.
Persons: It’s, , Rabinowitz, you’re, , Pamela Holt, I’ve, TikTok Organizations: Apple, Giftable, NBC, Solo, Facebook, Twitter Locations: Japan
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