Tax pros scramble to decode sweeping tax bill details
Across the nation accountants and tax lawyers wrestle with the 1000 page measure as Congress approves the tax bill. Questions swirl about reclassifying pay as business income, corporate restructuring, and prepaying 2018 state taxes. Experts warn few changes are permanent with many provisions temporary and potentially reversed.
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Infinite Tax Solutions
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Market News Bucks Rise and Regulatory Fines Highlight Week
The Dow stood at 24,782.29 as unemployment aid rose to 245,000 and layoffs fell to 234,750, extending a favorable job-market view. Mortgage rates edged up with 30-year at 3.94 percent and 15-year at 3.38 percent, both still below year-ago levels. The FCC proposed a 13.4 million dollar fine against Sinclair Broadcast Group for failing to label paid programming as advertising. Facebook and Universal Music Group announced a multiyear deal enabling users to share videos featuring Universal music, with current user uploads automatically removed if they contain the label’s music. Universal's portfolio includes Jay Z, Rihanna, Springsteen, and Bieber.
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Aa Inc Glw
Las Vegas Sande
Dillards Inc Dbs
Ind
Vericel Corp
QuPont Inc Ie
el Weie Ro i Co Inc
Banks and energy lead rebound in U.S. stocks
U.S. stocks rose as banks and energy shares led a recovery from modest losses, with retailers and consumer product makers also posting gains. The Dow, S&P 500 and Nasdaq gained modestly while the Russell 2000 outpaced, as traders eyed a long holiday weekend and solid GDP data showing 3.2 percent annual growth in Q3 following 3.1 percent in Q2.
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Randy Frederick
Charles Schwab
Standard & Poor
Commerce Department
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