David JC Cutler

CHICAGO/DETROIT, Jan 31 (Reuters) – The companies that produce goods at the heart of the U.S. consumer economy – SUVs, washing machines, heavy equipment, and hamburgers – kept rolling along at the end of 2022. But corporate executives on conference calls were guarded in their comments on Tuesday, noting solid demand while simultaneously pointing to… Read More »U.S. execs sound a note of caution even as earnings outstrip estimates

(Bloomberg) — The share of Americans who say they live paycheck-to-paycheck climbed last year, and most of the new arrivals in that category were among the country’s higher earners, a new study shows. Some 64% of US consumers — equivalent to 166 million people — were living paycheck-to-paycheck at the end of 2022, according to… Read More »Even on $100k Plus, More Americans Are Living Paycheck-to-Paycheck

Stocks rose on Tuesday as strong earnings and encouraging inflation data pushed the S&P 500 to its best January since 2019. The Dow Jones Industrial Average rose 368.95 points, or 1.09%, to 34,086.04. The S&P 500 gained 1.46% to 4,076.60. The Nasdaq Composite added 1.67% to 11,584.55, notching its best January since 2001. Traders assessed… Read More »Dow closes more than 350 points higher, S&P 500 caps best January in four years

Wall Street Journal, Who Goes First on Your Joint Tax Return? Probably Not the Woman. The IRS doesn’t care, so why do most people put the man first on 1040? Even Kamala Harris goes second to the second gentleman. When calculating federal income taxes, it makes absolutely no difference which spouse is listed first on a… Read More »WSJ: Whose Name Goes First On Your Joint Tax Return? Probably Not The Woman.

US Treasury Secretary Janet Yellen said persistently weak inflation is likely to return as a long-term challenge for the economy and policymakers once pandemic-era distortions behind the recent surge subside and prices cool. “We’re just coming through an unusual and difficult period, but I do not think we’re in any way back to the ’80s… Read More »Yellen Sees Low Inflation as More Likely Long-Term Challenge

If something’s going to be painful, it’s easier to bear if it’s of short duration, at least in some contexts.  Economic recessions generally follow that rule, but not always. A short, deep recession can leave a lot of scars, as the pandemic one did. Long and relatively deep recessions are the worst ones — the… Read More »2023 Recession Could Last 3 Quarters

The business interest expense deductibility limitation provisions of Sec. 163(j) have taken on a broader scope since the passage of the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97. Under the TCJA, many businesses that rely on debt financing and historically received interest expense deductions associated with it must use a… Read More »Sec. 163(j) business interest limitation: New rules for 2022

“It’s safe to assume your Social Security number is in the hands of someone you don’t want to have it,” one expert said. If you’ve been debating whether to file your taxes early this year, tax experts say there are now several reasons that might be a good idea. The biggest one is the rise… Read More »With fraud on the rise, experts urge taxpayers to file their tax returns early

(Reuters) – U.S. central bankers have unambiguously telegraphed this week’s policy decision: a quarter-of-a-percentage-point increase in their benchmark interest rate, the smallest since they kicked off their tightening cycle 10 months ago with one the same size. Less clear is whether they will continue to signal “ongoing increases” ahead for the policy rate as evidence… Read More »Fed’s words in focus as markets bet rate hikes will soon end

SECURE Act 2.0 includes numerous significant provisions affecting individual retirement savers. Following is a brief roundup of several key changes. SECURE Act 20 is finally here. The long-awaited upgrade to the initial legislation known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in 2019, was signed into law on December 29,… Read More »Highlights of SECURE Act 2.0 for Individuals