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☆ New to investing? 'Run' to this tax-advantaged retirement account, says CFP
▼ + stars: | 2023-06-22 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

Some 28% of workers made Roth contributions in 2021, up from 18% in 2016, according to the Plan Sponsor Council of America. "Younger, mid- to lower-income employees should run to the Roth 401(k)," he says. Roth 401(k)s vs. Roth IRAsIf you're thinking the rules for Roth 401(k)s sound similar to those for Roth IRAs, you're right. Plus, you can contribute a lot more to a Roth 401(k) than a Roth IRA. For 2023, you can contribute up to $22,500 to a Roth 401(k), plus an extra $7,500 for those age 50 and up.

Persons: it's, you'll, Roth, you've, Jeremy Finger, Younger, you'd, Catherine Valega, Valega, Roth IRAs Organizations: of America, Riverbend Wealth Management Locations: America, Boston , Massachusetts

☆ Opinion: How I talk to my kids about climate change
▼ + stars: | 2023-06-09 | by ( Opinion Laura Schifter | ) edition.cnn.com time to read: +6 min

Editor’s Note: Laura Schifter is a senior fellow with the Aspen Institute and leads This Is Planet Ed, the institute’s initiative on climate change information. We won’t know for sure what it will be or where, but we can predict that these extreme weather events are becoming more common. Katharine Hayhoe, a leading climate scientist suggests one of the most important things we can do about climate change: talk about it. My second grader added, “And we can get power from the sun, compost and walk instead of drive!” We haven’t thought about this as a singular “climate change talk,” but rather as part of how we talk — how we try to help them make sense of the world. For all our kids, it’s time we prioritize their future and help ensure they can thrive in a changing climate.

Persons: Laura Schifter, Ed, There’s, Alexa, I’ve, Katharine Hayhoe, Taylor Organizations: Aspen Institute, Harvard University’s Graduate School of Education, CNN, Environmental Protection Agency, Twitter, Facebook, Infrastructure Investment, Jobs, America, National Parent, Association Locations: Arlington , Virginia, Washington , DC, Canada, Pacific, Kentucky, California, Europe, Pakistan

☆ Here are tax-savvy ways to donate money, according to a charitable giving expert
▼ + stars: | 2023-06-07 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

LAS VEGAS — Tax savings aren't typically the main reason for philanthropy. But if you're planning to donate money, certain charitable giving strategies provide a bigger tax benefit. Roughly 33% of taxpayers itemized deductions in 2017, compared with fewer than 10% in 2021, said Hoyt, speaking at the American Institute of Certified Public Accountants' annual conference in Las Vegas on Tuesday. Given these constraints, investors can maximize tax breaks by "bunching gifts," Hoyt said. "Concentrate your gifts in one year, as opposed to spreading them over several."

Persons: there's, Christopher Hoyt, Hoyt, Ivy League acceptances Organizations: VEGAS, University of Missouri, American Institute of Certified Public Accountants, Finance, Ivy League Locations: Kansas City, Las Vegas

☆ Analysis: US debt-ceiling deal dooms Biden's revolutionary tax plans
▼ + stars: | 2023-06-01 | by ( David Lawder | ) www.reuters.com time to read: +6 min

Barring an unlikely Democratic sweep of the White House and both chambers of Congress in 2024, major changes to the U.S. tax code are now seen as largely off the table until the end of 2025, when the 2017 individual tax cuts expire. TAX CHANGES ARE TOUGHBiden's unrealized campaign tax pledges illustrate the political difficulty of changing the U.S. tax code, barring a commanding majority in Congress. "House Republicans have successfully blocked every penny of President Biden’s tax hikes on families, farmers, and small businesses in the debt ceiling deal and protected the 2017 Tax Cuts and Jobs Act from repeal," said U.S. House Ways and Means Chairman Jason Smith. The Missouri Republican added that Americans want Congress to build on the Trump tax cuts "with more tax relief." Republicans will argue for making the 2017 individual tax cuts permanent, said John Gimigliano, KPMG's head of federal tax legislative and regulatory services.

Persons: Joe Biden's, Biden, That's, William McBride, Joe Manchin, Kyrsten Sinema, Jason Smith, Michael Kikukawa, Kikukawa, John Gimigliano, Gimigliano, Steve Rosenthal, Rosenthal, David Lawder, Heather Timmons, Matthew Lewis Organizations: Saturday, Revenue Service, Trump, White, Tax Foundation, Democratic, Republican, Republicans, IRS, House, The, The Missouri Republican, Economic Co, Congressional, Brookings Tax, Center, Thomson Locations: Washington, The Missouri

☆ House Democrats reintroduce bill targeting stock buybacks
▼ + stars: | 2023-05-25 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

WASHINGTON — House Democrats on Thursday reintroduced a bill that would ban open-market stock buybacks, weeks after the Securities and Exchange Commission released stringent buyback disclosure rules. "Stock buybacks allow corporations to purchase shares of their own stock price at the expense of workers, consumers and the U.S. economy," Garcia said. U.S. corporate stock buybacks grew from a total of $950 billion in 2021 to over $1.25 trillion last year, SEC Chairman Gary Gensler said earlier this month. Last month, the board of Google parent Alphabet announced it had approved $70 billion in stock buybacks this year, matching its 2022 rate. "And banning the stock buybacks is a good place to start."

☆ GOP law cut Big Pharma tax rates by 40%, Senate report says
▼ + stars: | 2023-05-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

A Republican law has slashed the average tax rates of big pharmaceutical companies by more than 40% since it was enacted in 2017, Senate Finance Committee Democrats said in a report Thursday. That provision allowed U.S.-based pharmaceutical companies to access lower tax rates on their foreign income, the report said. Pharmaceutical companies report 75% of their taxable income overseas, the report said. The report said the average rate fell to 11.6% in 2019 and 2020, which resulted in billions of dollars in tax savings for pharmaceutical companies. Wyden also obtained similar information about other U.S. pharmaceutical companies, including Abbott Laboratories , Amgen , Bristol Myers Squibb and Merck .

☆ What Is a W-4 and How Do I Fill Mine Out?
▼ + stars: | 2023-05-09 | by ( ) www.wsj.com time to read: +14 min

How Form W-4 has changedIf you haven’t checked in on your W-4 lately, you’ll want to take a gander, says Pete Isberg, an executive with payroll provider ADP. That’s because Form W-4 was overhauled in 2020 based on changes passed in the Tax Cuts and Jobs Act a few years earlier. At the top of the W-4 form, you enter your personal information and filing status. If you have multiple jobs, you’ll use Step 2(b)—Multiple Jobs Worksheet, which is found on page 3 of Form W-4. So after you file your Form 1040 tax return, your W-4 form updates should be next.

☆ The Inflation Reduction Act Will Allow an Asset Manager Takeover of Our Infrastructure - The New York Times
▼ + stars: | 2023-05-08 | by ( Brett Christophers | ) www.nytimes.com time to read: +1 min

The Inflation Reduction Act will reshape the physical and economic landscape of the United States over the next decade, including in ways that might surprise a lot of people. will help accelerate the growing private ownership of U.S. infrastructure, and in particular its concentration among a handful of global asset managers like Brookfield. This is taking the United States into risky territory. and 2021’s Infrastructure Investment and Jobs Act, President Biden’s other key legislation for infrastructure investment, is that they represent a renewal of President Franklin Roosevelt’s New Deal infrastructure programs of the 1930s. Public ownership of major infrastructure has remained an American mainstay ever since.

☆ The Biden tax proposals that could hit baby boomer, family businesses
▼ + stars: | 2023-04-29 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +7 min

President Joe Biden's 2024 budget proposals contain several proposals that could hit small businesses right where it hurts — their wallets. Here are five provisions business owners should be aware of in President Biden's budget:A higher capital gains tax rate would be bad for business sellers. Biden is proposing that the corporate tax rate be increased to 28% from 21%. The majority of small businesses are pass-through businesses that are not subject to the corporate income tax, but for companies that are, the increase would be meaningful, tax experts said. Biden's proposal would increase the 3.8% net investment income tax rate on small business income over $400,000 to 5%.

☆ Eve Jobs recommends iPhone 14 after mocking it a few months ago
▼ + stars: | 2023-03-31 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

Apple cofounder Steve Jobs' daughter, Eve, told The Strategist she "can't live without" her iPhone. Jobs shared a meme on her Instagram story in September that poked fun at the iPhone 14. Insider also hasn't confirmed whether Jobs actually uses the iPhone 14. "I'm gonna keep it brief," Jobs told The Strategist about the iPhone 14. She's also a model and accomplished equestrian, who once told World of Showjumping that competing in the Olympics and at the World Equestrian Games "would be a dream."

☆ ChatGPT is the Myspace of AI: It's fun, but it's far from taking your white-collar job
▼ + stars: | 2023-03-18 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

Despite excitement around ChatGPT and GPT-4, there are concerns about AI tools taking jobs. "Artificial intelligence may have a role in displacing, or at least reducing, the need for less skilled workers," Lee said. Hope Bradford, senior director of digital transformation at Kelly, a staffing and workforce company, told Insider that AI tools help HR professionals screen candidates. Are white-collar workers' jobs at risk of being cut because of AI tools? While people have found success and the pros of AI tools, there's still uncertainty about their future and fears still loom.

☆ Takeaways from the February jobs report
▼ + stars: | 2023-03-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

Minneapolis CNN —February’s jobs report had a little something for everyone. In February, the construction industry added 24,000 jobs, marking 12 consecutive months of employment growth. Friday’s report showed that “a modicum of slack crept back into the jobs market,” wrote Wells Fargo economists Sarah House and Michael Pugliese. However, Friday’s jobs report likely won’t spur a more dovish turn from the Fed, said Sean Snaith, an economist and director of the University of Central Florida’s Institute for Economic Forecasting. “We didn’t go from a four-alarm fire to a five-alarm fire with this data report, but the inflation flames aren’t out either,” he wrote in a note Friday.

☆ What bear market? These stocks are trading at all-time highs
▼ + stars: | 2023-03-09 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

As the market struggles to break out of its bear market, there are several stocks that have already soared to all-time highs this year. Here are the S & P 500 stocks that have broken out to all-time highs this year as the rest of the market stagnates. On Monday, Progressive traded at all-time highs dating back to its initial public offering in 1971. Meanwhile, on Monday, W.W. Grainger traded at all-time high levels back to when it began trading in 1967. Also on Monday, power management company Eaton hit all-time highs dating back to its July 1923initial public offering.

☆ President Biden’s proposed 2024 budget calls for top 39.6% tax rate
▼ + stars: | 2023-03-09 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

The plan calls for a top marginal income tax rate of 39.6%, up from 37%, which was reduced as part of former President Donald Trump's signature tax legislation. Biden's plan aims to reform the tax code to "reward work, not wealth," White House Office of Management and Budget Director Shalanda Young told reporters on a call. The plan includes a 25% minimum tax on Americans with wealth exceeding $100 million, and would "ensure that no billionaire pays a lower tax rate than a teacher or firefighter," Young said. watch nowBiden's 2023 federal budget plan proposed a 20% levy on households with the same level of wealth, applying to "total income," including regular earnings and so-called unrealized gains. Without additional changes by Congress, several provisions from the Tax Cuts and Jobs Act will sunset in 2026, bumping the top income tax rate back to 39.6%.

☆ How universities became giant piggy banks for hedge-fund billionaires
▼ + stars: | 2023-03-08 | by ( Catherine Liu | ) www.businessinsider.com time to read: +14 min

The move also marked the beginning of a new way to manage endowment funds. The arrangement has been a boon for the hedge-fund managers who received university endowment cash, but the benefits for the schools are trickier to parse. As Eaton put it in his book, universities directed funds to "wherever those allocations would generate the largest further investment returns." Eaton estimated in 2017 that tax breaks for university endowments cost federal coffers up to $19 billion a year. As the influence of billionaires and hedge-fund managers has grown, universities have moved further away from their ultimate goal: educating people.

☆ Three under-the-radar ways to play the global electric vehicle boom from Jefferies
▼ + stars: | 2023-03-08 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

There's more than one way to tap into the global electric vehicle boom. In fact, Jefferies has three under-the-radar plays that include a welding equipment maker. LECO YTD mountain Lincoln Electric shares YTD For Lincoln Electric, the surge in electric vehicle interest will boost its automotive and transport business, which makes up 17% of its sales, according to Jefferies. Lincoln Electric is a maker of welding equipment and products, but last year it also launched an initiative to design and manufacture EV chargers for the domestic market. Meanwhile, chemicals firm Graco is also dealing with sealing and bonding applications for electric vehicle battery pack and module assembly.

With the way cable news talking heads describe debt ceiling negotiations, one might think America is headed for an extinction-level event. Left-wing pundits argue that anything but a "clean raise" in the debt ceiling – extending America's credit card limit with no conditions – will bring about an economic apocalypse. As the chairman of the House Ways and Means Committee with jurisdiction over the debt ceiling, Social Security, and Medicare, no debt ceiling legislation that passes through my committee will include cuts to these vital programs. Debt ceiling negotiations are something Democrats – and even then-Senator Biden – have agreed to multiple times in our nation's history. For Washington Democrats to engage in politics as usual is manifesting the very crisis they claim they want to avoid.

☆ Reshoring is accelerating—These stocks should benefit as companies return to the U.S.
▼ + stars: | 2023-02-27 | by ( Michelle Fox | ) www.cnbc.com time to read: +5 min

Reshoring declarations are amping up, as more companies look to return operations to the United States from overseas. Corporate reshoring announcements jumped 17% in the fourth quarter compared with the prior quarter and are now tracking nearly 300% higher than the fourth quarter of 2021, according to UBS. In fact, reshoring and foreign direct investments jobs reached a record of at least 360,000 jobs last year, according to the Reshoring Initiative. The move back to the U.S . can also be seen in corporate earnings, said Ron Graziano, managing director of global accounting and tax for Credit Suisse. The company's equipment is needed for big semiconductor manufacturing plants as companies test chips as they are produced, Snyder said.

☆ Former House Speaker Paul Ryan says he won't attend the 2024 Republican National Convention if Trump is the party's presidential nominee: 'I'm not interested in participating in that'
▼ + stars: | 2023-02-26 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Paul Ryan said he won't attend the RNC in 2024 if Donald Trump is the party's presidential nominee. Ryan told WISN-TV that he the convention being held in his home state didn't affect his decision. "I think some people would like me to start a civil war in our party and achieve nothing," Ryan told Leibovich. During an October 2022 interview on the Fox Business Network, Ryan reiterated his opposition to a third Trump White House campaign. "I think anybody not named Trump, I think is so much more likely to win the White House for us.

☆ House, Senate to renew fight pitting child tax credit vs. corporate cash
▼ + stars: | 2023-02-15 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +9 min

The fate of that corporate tax policy, supported by many Democrats, had been linked to the Democratic Party's desire for a deal on the child tax credit . But House and Senate members are getting ready to reintroduce legislation on the R&D tax credit. Indexing the child tax credit to inflation would also be a matter of tax policy that both parties might agree on as a way to enshrine future increases in law. But there's still the divide on the corporate tax priorities and child tax credit, and at a basic level, getting a bipartisan tax bill through the House and Senate and to the White House is always challenging. Many companies were surprised that the R&D tax credit did not get extended in the late year legislative package because it had so much bipartisan support.

We're buying 50 more shares of Caterpillar (CAT) at roughly $242.28 each and selling 100 shares of Qualcomm (QCOM) at roughly $130.46 each. Shares of machinery giant Caterpillar have underperformed over the past two days after Baird downgraded its rating Monday to neutral. QCOM 1Y mountain Qualcomm (QCOM) 1-year performance To fund this purchase, we are once again trimming our position in semiconductor company Qualcomm . (Jim Cramer's Charitable Trust is long CAT, QCOM. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Top 10 things the Club is watching in the stock market Monday: Stocks look mixed, dueling Disney notes
▼ + stars: | 2023-02-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Club holding Caterpillar (CAT) downgraded to neutral (hold) at Baird; price target cut to $230 per share from $290. Disney (DIS), a Club stock, price target is lowered to $130 per share from $145 at Citi; keeps a buy rating following last week's solid earnings and restructuring announcement. Merck (MRK) price target is increased to $125 per share from $120 at Credit Suisse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Pre-tax vs. Roth 401(k): Deciding which to use for retirement is trickier than you think
▼ + stars: | 2023-02-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Prathanchorruangsak | Istock | Getty ImagesWhether you're starting a new job or updating retirement savings goals, you may need to choose between pre-tax or Roth 401(k) contributions — and the choice may be more complex than you think. While pre-tax 401(k) deposits offer an upfront tax break, the funds grow tax-deferred, meaning you'll owe levies upon withdrawal. By contrast, Roth 401(k) contributions happen after taxes, but your future earnings grow tax-free. Experts say these expected changes may also factor into the pre-tax vs. Roth contributions analysis. Plus, recent changes from Secure 2.0 have made Roth 401(k) contributions more appealing for some investors, she said.

☆ State of the portfolio: What Biden's address means for 10 Club stocks from Caterpillar to Ford
▼ + stars: | 2023-02-08 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +6 min

President Joe Biden 's State of the Union address put the spotlight on multiple tailwinds that will benefit 10 Club holdings including Caterpillar (CAT) and Ford (F). Linde Linde, a longtime Club holding, supplies industrial gases needed at semiconductor manufacturing facilities, known as fabrication plants. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Here’s our February rapid-fire update on all 34 stocks in Jim Cramer’s Investing Club portfolio
▼ + stars: | 2023-02-05 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +12 min

Here's a rapid-fire update on all 34 stocks in Jim Cramer's Charitable Trust, the holdings we manage in the CNBC Investing Club. J & J is a good stock to get into ahead of the impending split into two companies: consumer brands and pharma/medical technology. The company reported a good quarter and guidance, while fundamentals are solid ahead of the split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

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