International visitors to the United States spent a record $153 billion in 2011, an increase of 14% over 2010. That’s good news, but just as significant is the fact that the travel and tourism balance of trade produced a surplus of $42.8 billion — a historic high and a 35% increase over the previous […]
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A small business can adopt a number of business structures for tax and legal purposes. Each has its own advantages and disadvantages. Sole proprietorships, partnerships, and limited liability companies (LLCs) are fairly basic forms of ownership, whereas corporations are significantly more complex. There are two primary types of corporations in the United States. C […]
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The Conference Board’s Leading Economic Index (LEI) is designed to assess the U.S. economic outlook for the next three to six months. Because the LEI is forward looking, businesses and investors may use it to help anticipate what could be ahead and make informed decisions. The LEI summarizes a large amount of economic data, […]
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Many people who inherit a tax-deferred IRA are confronted with a complex array of rules, restrictions, and deadlines that may make it difficult for them to determine how to proceed. Unfortunately, beneficiaries must often make binding decisions about inherited retirement assets before they may be prepared to do so. Of course, beneficiaries can liquidate inherited […]
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About half of retirees file for Social Security benefits when they first become eligible at age 62.1 The age to receive “full” Social Security benefits is 66 for workers born between 1943 and 1954. If you were born in this period and file for benefits at age 62, you would typically receive 75% of your full […]
read more »About half of retirees file for Social Security benefits when they first become eligible at age 62.1 The age to receive “full” Social Security benefits is 66 for workers born between 1943 and 1954. If you were born in this period and file for benefits at age 62, you would typically receive 75% of your full […]
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A recent study using data from 136 countries suggests that spending money for the benefit of others promotes a feeling of happiness in the giver.1 This may not be surprising to the many people who donate to charity. Almost three-fourths of charitable giving in the United States comes from individuals (see chart). Charitable contributions could also […]
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On June 28, 2012 — two years and two months after passage of the Patient Protection and Affordable Care Act (ACA) — the U.S. Supreme Court upheld the constitutionality of the law by a vote of five to four.1Unless Congress takes further action, the provisions of the act currently in effect will remain so, […]
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Small-business owners and independent contractors may be more likely than other taxpayers to benefit from the home-office tax deduction, which has an average value of more than $2,600.1 But some taxpayers may be hesitant to claim this potential tax benefit on their personal tax returns, fearing that it could trigger an IRS audit. Their worries are […]
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In a 2012 survey, 50% of current retirees said they retired earlier than they had planned, up from 45% in 2011.1 Many retirees reported reasons that were beyond their control, such as health problems or disability, company downsizing or closure, changes in the skills required for their jobs, or having to care for a […]
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