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☆ Here's who can claim the home office deduction on this year's taxes
▼ + stars: | 2023-01-31 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Morsa Images | Digitalvision | Getty ImagesIf you worked from home in 2022, you may be wondering if you qualify for the home office deduction, which offers a tax break for part of your home expenses. But most employees aren't eligible for the home office deduction, according to Brad Sprong, national tax leader of KPMG Private Enterprise. Your workspace must meet IRS guidelinesRob Burnette, CEO of the Outlook Financial Center, said your workspace must meet certain IRS guidelines to qualify for the deduction. And the IRS expects it to be the principal place for your business, used regularly. How to calculate the home office deductionThere are two ways to calculate the home office deduction: the "simplified option" and the "regular method," according to the IRS.

☆ Republicans said they chose Trump's DC hotel out of convenience. They've spent almost nothing there since he sold it.
▼ + stars: | 2023-01-20 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

GOP officials, politicians and PACS spent millions at Trump International Hotel in DC. Insider corroborated its findings through examining FEC spending records. The Trump International Hotel, housed in DC's famed Old Post Office building, closed its doors in May last year, and reopened as the Waldorf Astoria a couple of weeks later. Workers remove the signage for the Trump International Hotel on Wednesday, May 11, 2022. Since the start of Trump's presidency, GOP figures spent around $2.5 million at the hotel while he owned it, FEC records show.

☆ Why Egypt is asking its people to eat chicken feet
▼ + stars: | 2023-01-18 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +17 min

Abu Dhabi CNN —Egypt’s economic situation is so dire that the government is asking people to eat chicken feet. In Egypt, chicken feet are seen as the cheapest of meat items, considered by most as animal waste rather than food. After the recommendation to switch to chicken feet, the price of one kilogram of the product reportedly doubled to 20 Egyptian pounds ($0.67). But those firms don’t operate like private companies, enjoying special privileges without disclosing their financial data to the public. Experts have questioned why international creditors had not leveraged their loans to drive Egypt’s military out of the economy.

☆ China’s Housing Market Will Revive but Might Not Thrive
▼ + stars: | 2023-01-13 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

China has been rolling out easier policies in hopes of arresting the sharp decline in property sales. China’s sudden shift to pro-growth policies will finally lift its struggling housing market in the Year of the Rabbit. A much stronger 2023 seems assured—but the longer term outlook remains muddy at best. Its strict “zero-Covid” policy is gone. The crackdown on powerful private enterprises, especially in the internet technology sector, has eased.

☆ China c.bank to support private firms, ease tech crackdown - CCTV
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +2 min

Monetary policy in 2023 will focus on expanding demand, especially personal consumption, Guo told state-owned CCTV on Sunday, reaffirming earlier official remarks. Chinese leaders have pledged to increase support for the world's second-largest economy, which was hit hard by COVID-19 lockdowns last year as well as slowing global demand. "Prudent monetary policy will be precise and forceful. China will also promote sound development of online platform companies, Guo said , adding rectification of financial businesses of 14 platform companies have been "basically completed" while a few remaining issues need to be resolved. Authorities will adopt "normalized regulation" afterwards and encourage platform companies to operate in a compliant manner, CCTV said.

☆ China's crackdown on Ant and other tech giants is 'basically' over, top official says
▼ + stars: | 2023-01-09 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —China’s heavy-handed crackdown on tech giants is coming to an end and the country’s economic growth is expected to be back on track soon, according to a top central bank official. “Next, we’ll promote healthy development of internet platforms,” said Guo, who is also chairman of China’s Banking and Insurance Regulatory Commission. Mark Schiefelbein/APChina’s crackdown on its biggest tech companies began in 2020 with new regulations on fintech, which forced Ma’s Ant Group to suspend its $37 billion IPO days before its launch. Regulators then targeted the online financial service units of 13 other tech giants, including Tencent, Baidu, JD.com, Bytedance, Meituan, and Didi. Ant Group’s restructuringMajor tech companies in China have struggled under a sweeping regulatory crackdown for months now.

☆ The Return of Lula and the Judicial Threat to Brazil’s Democracy
▼ + stars: | 2022-12-27 | by ( Mary Anastasia O Grady | ) www.wsj.com time to read: +1 min

Ms. O'Grady joined the paper in August 1995 and became a senior editorial page writer in December 1999. She was appointed an editorial board member in November 2005. In 2012 Ms. O’Grady won the Walter Judd Freedom Award from The Fund for American Studies. In 2009 Ms. O'Grady received the Thomas Jefferson Award from The Association of Private Enterprise Education. Ms. O'Grady received a bachelor's degree in English from Assumption College and an M.B.A. in financial management from Pace University.

☆ China to step up financial support to COVID-hit catering, tourism sectors
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 27 (Reuters) - China will step up financial support to small and private businesses in the catering and tourism sectors that were hit hard by the COVID-19 epidemic, the country's banking and insurance regulator said in a statement on Tuesday. Contact-intensive services sector suffered the most amid China's anti-virus curbs which shut many restaurants down and restricted tourists' travels. "The recovery and expansion of consumption will be a priority," China Banking and Insurance Regulatory Commission (CBIRC) said in the statement. China will also step up financial support for private investment and private enterprises, the regulator added. Amid protracted weakness in the property sector, the CBIRC pledged to satisfy reasonable financing needs and to improve leading developers' balance sheets.

☆ China steps up support for private sector to boost Covid-hit economy
▼ + stars: | 2022-12-19 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Beijing has vowed to go all out next year to save its Covid-hit economy by boosting consumption and loosening control over private industry, including the struggling tech and property sectors. Covid infections are surging in China after leaders unexpectedly eased its restrictive Covid policy earlier this month. Stabilizing economic growth is the top priority for 2023, according to an official readout following the conclusion of the Central Economic Work Conference (CEWC), a key annual meeting of top leaders, which ended Friday. “We need to encourage and support the private sector economy and private enterprise in terms of policy and public opinion,” the statement said. A shopping mall is decorated with rabbit stickers to welcome the Lunar New Year, the Year of the Rabbit, on December 10, 2022 in Beijing, China.

☆ China Shows More Pragmatism—And Less Ideology—on Economy
▼ + stars: | 2022-12-16 | by ( James T. Areddy | Keith Zhai | ) www.wsj.com time to read: 1 min

Confronting a struggling economy, Chinese leader Xi Jinping is loosening policies that have sacrificed growth at the expense of his relentless focus on centralized control, political purity and national security. The latest sign: Senior leaders huddling in Beijing for the Communist Party’s Central Economic Work Conference on Friday endorsed a more pro-business approach, saying China would “encourage and support the development and growth of the private economy and private enterprises.”

☆ Biden’s Dirty Oil Deal With Venezuela
▼ + stars: | 2022-11-28 | by ( Mary Anastasia O Grady | ) www.wsj.com time to read: +1 min

☆ Business owners have an IRS payment coming due well before April federal income tax deadline
▼ + stars: | 2022-11-15 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +6 min

New business formation has boomed, and that means more new business owners than ever are dealing with tax season and potential tax nightmares. For starters, there's a big tax bill coming due for many business owners related to the pandemic, well ahead of the April 2023 federal income tax deadline. Here are a few more tips to stay ahead of the IRS this income tax season. Expect a new tax form related to Venmo, PayPal incomeFor tax year 2022, many business owners may be receiving a form they haven't in the past. The Wave State of Small Business Study for 2022 found that 35% of small businesses are blurring the lines between personal and business accounts.

☆ Judge appoints independent monitor to oversee Trump Org financial reporting in NY AG fraud suit
▼ + stars: | 2022-11-14 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +3 min

A New York court Monday appointed retired Judge Barbara Jones to oversee some of the Trump Organization's financial statements as part of a lawsuit alleging widespread fraud by former President Donald Trump, his businesses and his family members. Both Trump and New York Attorney General Letitia James, who filed the sweeping fraud suit in September, had recommended Jones as their top pick to serve as independent monitor in the case. New York Supreme Court Justice Arthur Engoron had earlier this month approved James' request to appoint a third-party entity to oversee a range of Trump Org financial statements and other records. She noted that the Trump Organization had registered a new entity called Trump Organization II on the same day the lawsuit was filed. The judge ordered the defendants to provide the monitor with financial statements, statements of financial condition, asset valuation disclosures and other disclosures to lenders, insurers and other financial institutions.

☆ 10 U.S. cities that are growing the fastest — and New York City isn't one of them
▼ + stars: | 2022-11-09 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

Tech jobs are in flux, tourism is at an all-time high, and the population across major U.S. cities is shifting. An October report by the Kenan Institute of Private Enterprise, a business policy think tank, ranked the top 10 fastest-growing cities in the U.S. And the final list is a good indication of where young people want to live and work and of what they value. The city is moving forward with plans to enact new initiatives for cleaner buildings, according to the city's mayor, Bruce Harrell. Seattle also topped the list of cities where college students want to live after graduation, according to Axios and The Generation Lab's 2022 Next Cities Index.

☆ China to implement policies to boost private investment
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 7 (Reuters) - China's state planner on Monday issued a notice saying it would further improve the policy environment to encourage the development of private investment, the latest move to prop up the faltering economy facing multiple headwinds. China will increase policy support to stimulate the vitality of private investment, stabilise market expectations and increase job opportunities, as "private investment accounts for more than half of the total social investments," said the notice. Beijing also said it woud support the development of the platform economy with a focus on investment of key projects such as artificial intelligence, cloud computing and blockchain. Central-owned enterprises will be encouraged to step up the use of new products and technologies from private enterprises. Reporting by Liangping Gao and Ryan Woo; Editing by Tom Hogue and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

REUTERS/Andrew Kelly/Companies Trump Organization Inc FollowNEW YORK, Nov 3 (Reuters) - A New York judge on Thursday ordered that an independent watchdog be appointed to oversee the Trump Organization before a civil fraud case by the state's attorney general against Donald Trump's company goes to trial. Last month, James asked the Manhattan-based judge to appoint an independent monitor to halt ongoing fraud at the company and keep the Trumps from transferring assets out of her reach. In a statement, the Trump Organization objected to "political persecution" by James, a Democrat, ahead of the Nov. 8 midterm elections. He said James had no legal authority to challenge how Trump valued his properties, calling it a private matter between Trump's company and its lenders and insurers. The Trump Organization manages hotels, golf courses and other real estate around the world.

☆ Responding to yet another Trump lawsuit, New York's attorney general says he's still committing fraud
▼ + stars: | 2022-11-03 | by ( Rebecca Cohen | Laura Italiano | ) www.businessinsider.com time to read: +5 min

New York Attorney General Letitia James responded to Donald Trump's new lawsuit filed against her Wednesday night. James alleged Trump is still committing fraud and is "seeking to put assets beyond this Court's reach." Trump accused the attorney general of abusing her power by investigating him and his family. Kevin Wallace, a lead prosecutor in the James lawsuit against Trump, told a judge that the AG is still "seeking an injunction against ongoing fraudulent activities by the Trump Organization." Trump's lawsuit on Wednesday is the latest legal action he's taken against James, who he has frequently railed against and accused of being corrupt.

Former U.S. President Donald Trump throws caps as he attends a rally in Warren, Michigan, U.S., October 1, 2022. Former President Donald Trump and related defendants are opposing New York Attorney General Letitia James' call for an independent monitor to oversee the Trump Organization's submission of financial statements to third parties as part of a bombshell fraud lawsuit, according to a new court filing. James has asked a judge to name a watchdog who would review financial information that the company and defendants give lenders, insurers and accountants pending the outcome of the lawsuit. The attorney general's office requested the watchdog as part of a sweeping September lawsuit accusing Trump, three of his adult children, their company and others of a decadelong fraud related to financial statements. The lawyers argued that it "is precluded under our Constitution and must and should therefore be rejected."

☆ Australia pathology data stolen as hacking epidemic widens
▼ + stars: | 2022-10-27 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, Oct 27 (Reuters) - One of Australia's largest pathology providers said hackers stole medical data of thousands of patients, the country's second such breach in two weeks, deepening fears about how companies collect sensitive customer information. 1 health insurer Medibank Private Ltd (MPL.AX) said criminals took data of all 4 million of its customers. [ read more read moreACL said it first knew of unauthorised access to the IT system of its pathology unit, Medlab, in February and received advice that no information was compromised. 1 grocery chain Woolworths Group Ltd (WOW.AX) then revealed that the data of millions of customers using its bargain shopping website had been compromised. Australia has said it plans to fine companies up to A$50 million ($32 million) for failing to prevent data breaches, but Christie said damages awarded for thefts of medical data were typically higher than for other personal data because of non-economic harm like mental health repercussions.

☆ Trump's company: We don't need a monitor
▼ + stars: | 2022-10-27 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

REUTERS/David 'Dee' Delgado/File PhotoNEW YORK, Oct 27 (Reuters) - Donald Trump's namesake company urged a New York judge to reject a demand by the state's attorney general to appoint a monitor to oversee its financial practices, after she accused it of "staggering" fraud. "What the (attorney general) really seeks is a vague order justifying her assertion of control via a 'monitor' of the business affairs of her political adversary," wrote Alina Habba, a lawyer for the company and Trump. The attorney general has said a monitor would help serve "the substantial public interest in curbing fraudulent and lawful conduct." While the case does not involve criminal charges, James said Trump repeatedly violated several state criminal laws and may have violated federal criminal law. The case is New York v Trump et al, New York State Supreme Court, New York County, No.

☆ Analysis: Xi's next premier faces tough task reviving Chinese economy
▼ + stars: | 2022-10-24 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

China's economic tsar, Liu He, a U.S.-trained economist who is seen as the brains behind earlier reforms, will be replaced by He Lifeng, another Xi acolyte. "We face the problem of weakening expectations and confidence and it's empty talk if we cannot revitalise the economy," Jia said. China's economic miracle started in 1978 when Deng Xiaoping kicked off historic reforms, allowing more private enterprises and opening the economy to foreign investment. The poll showed China's growth could pick up to 5.0% in 2023, helped by a lower base. Xi's Standing Committee choices disappointed investors who had been hoping he would keep some reform-minded officials, including former Guangdong party boss Wang Yang.

Then came the pandemic and a property crisis, and with them, clear evidence of the limits of the debt-fuelled, investment-driven model that had propelled China's economy and businesses like Shores'. "If there is no investment, consumption will be like a tree without roots," said Jia, who previously led a finance ministry think tank. Many uncertainties hang over China's economy: the zero-COVID policy, a crackdown on tech and other industries, geopolitical tensions and rising borrowing costs in export markets. China is widely expected to miss this year's 5.5% GDP growth target and Natixis estimates growth may not even top 3% a year into Xi's next mandate. Oxford Economics expects average annual GDP growth this decade to halve from the 1999-2019 average to 4.5% and slow to 3% in the decade after.

☆ Legendary short-seller Jim Chanos says investors are overlooking a major risk - China's real-estate crisis: 'We ignore it at our own peril'
▼ + stars: | 2022-09-29 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Investors are underestimating the risks in China's real-estate crisis, Jim Chanos told CNBC. "Almost every large company in China has a real estate development arm — so it's not just the developers," he said. Building by Evergrande, the country's second-largest developer, helped drive a decades-long boom in real estate that in turn helped fuel growth in China's economy. Overseas investors have over looked the struggles in China's real-estate sector, despite its importance. "Residential real estate is 20 to 25% of the Chinese economy, which is a stunningly large number," he said.

☆ Poland to raise $2.75 billion with energy windfall tax, says minister
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +2 min

WARSAW, Sept 25 (Reuters) - Poland expects to raise 13.5 billion zlotys ($2.75 billion) from a windfall tax on energy companies, the state assets minister said late on Saturday, with the money used to offset the impact of rising bills on households. Register now for FREE unlimited access to Reuters.com Register"The estimated budgetary contribution is 13.5 billion zlotys, which we will spend on mitigating the effects of rising energy prices." Prime Minister Mateusz Morawiecki has repeatedly said that excess profits resulting from soaring energy prices should be shared with consumers and has called for change across the sector. Poland has already taken a series of steps to help consumers, such as tax breaks and fuel subsidies for households. It also plans aid for energy intensive companies worth 17.4 billion zlotys between 2022 and 2024.

☆ Mary Anastasia O'Grady — Opinion Columnist, The Americas at The Wall Street Journal
▼ + stars: | 2022-09-19 | by ( Mary Anastasia O'Grady | ) www.wsj.com time to read: +1 min

Mary Anastasia O'GradyMary Anastasia O'Grady writes "The Americas," a weekly column on politics, economics and business in Latin America and Canada that appears every Monday in the Journal. Ms. O'Grady joined the paper in August 1995 and became a senior editorial page writer in December 1999. She was appointed an editorial board member in November 2005. In 2009 Ms. O'Grady received the Thomas Jefferson Award from The Association of Private Enterprise Education. Ms. O'Grady received a bachelor's degree in English from Assumption College and an M.B.A. in financial management from Pace University.

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