[YMMV] American Express Blue Business Plus 60,000 Points Signup Bonus
Some people are being offered a sign up bonus of 50,000 points after $15,000 in spend on the American Express Blue Business Plus card
Some people are being offered a sign up bonus of 50,000 points after $15,000 in spend on the American Express Blue Business Plus card
As investors and home buyers are re-evaluating and sellers remain unsure of whatâs next, itâs important to understand how the Coronavirus has impacted the industry, but also how real estate professionals are working to mitigate the impacts.
The post COVID-19 And Its Impact On The Real Estate Market appeared first on Homes.com.
U.S. equities managed to escape negative territory Friday and finish in the black despite some downbeat economic data â a welcome beginning to 2022’s second half after a dreadful performance through the midway point.
Front and center Friday was the Institute for Supply Management (ISM) manufacturing index, which delivered its weakest reading in two years. The index’s June reading of 53.0, which was down considerably from May’s 56.1, fell well below economists’ forecasts for 54.5 and marked its lowest point since June 2020.
“The new orders component was particularly rough,” say Wells Fargo economists Tim Quinlan and Shannon Seery. “It slipped 5.9 points to 49.2, which marks the first contraction reading since May 2020, when the economy was coming out of pandemic-related lockdowns.”
The pair add that while the report demonstrates slower manufacturing activity, supply problems are continuing to ease. “In short, the report piles onto weaker consumer data received this week and signals investment spending is starting to weaken too.”
From a sector standpoint, utilities (+2.5%) and real estate (+1.8%) were among Friday’s biggest winners as investors appeared to chase yield. But the most noteworthy individual equities were heading in the other direction. Kohl’s (KSS, -19.6%) plunged after announcing it had ended its attempts to sell the company, putting the kibosh on Vitamin Shoppe owner Franchise Group’s plans to buy the struggling retailer. Kohl’s also reduced its second-quarter sales forecast.
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Meanwhile, computer memory firm Micron Technology (MU, -3.0%) warned that it expected its components for smartphones to decline by 5% year-over-year, and PC products to decline 10%. That weighed on the entire industry, as shown by an 3.5% decline in the iShares Semiconductor ETF (SOXX).
The broader markets, however, shrugged off early-session declines and finished with decent gains to kick off 2022’s second half. The Dow Jones Industrial Average was up 1.1% to 31,097, the S&P 500 improved 1.1% to 3,825, and the Nasdaq Composite climbed 0.9% to 11,127.
And remember: It’s a long weekend for investors, with the stock and bond markets both closed Monday for the Fourth of July.
YCharts
Other news in the stock market today:
The possibility of recession isn’t just being felt in stock prices â it’s also being felt in dealmaking. Well, to be precise, a lack thereof. Says Quincy Krosby, chief equity strategist for independent broker-dealer LPL Financial:Â
“As fears of an imminent recession rise, de-risking in capital markets continues as SPAC (Special Purpose Acquisition Companies) deals, which enjoyed tremendous investor enthusiasm while real rates were negative, continue to unwind. The IPO (initial public offering) calendar remains on hold until markets stabilize and risk appetite returns. Similarly, volume in private equity deals, as well as merger-and-acquisition announcements, have slowed as the overall investing environment faces a host of challenges associated with the global campaign to curtail inflation.”
The fix for that could be the very same thing that would help the stock market get back on its feet: a better-than-expected second-quarter earnings season.
That kind of upside surprise, of course, is no guarantee. So for now, caution is key â and investors looking for a little protection have a wealth of options. These 10 defensive ETFs, for instance, have widely outperformed the broader market and offer stability for anyone expecting more turbulence before the skies finally clear.
In response to rapidly rising gas prices, the IRS took the unusual step of increasing the standard mileage rates in the middle of the year (they’re normally adjusted for inflation only once per year). The mileage rates that were raised are used to calculate tax deductions for the use of an automobile (i.e., a car, pickup truck, or van) for business, medical, and certain moving expenses. The new rates apply from July 1 to December 31, 2022, while the previously established rates apply for the first half of the year.
Three of the four mileage rates increased by 4¢ per mile (one of the rates didn’t change at all). For the second half of 2022, the standard mileage rate for business use of an automobile increased from 58.5¢ to 62.5¢ per mile. The rates for deductible medical travel and moving expenses for active-duty members of the military rose from 18¢ to 22¢ per mile. The mileage rate for charitable use of a passenger car remains at 14¢ per mile, since it’s fixed by law and not subject to adjustments for inflation.
Deduction |
January to June 2022 |
July to December 2022 |
Business Use |
58.5¢ per mile |
62.5¢ per mile |
Medical Travel |
18¢ per mile |
22¢ per mile |
Military Moving Expenses |
18¢ per mile |
22¢ per mile |
Driving for Charity |
14¢ per mile |
14¢ per mile |
In addition to calculating business expense deductions, the mileage rate for business use is also used by the federal government and many businesses to reimburse employees for the business use of their personal vehicle.
Any self-employed person who makes deliveries, drives to a client’s location or otherwise uses a personal car, van or truck for work-related purposes can claim a tax deduction for the business use of their vehicle. There are two ways to calculate the deduction â you can use the standard mileage rates listed above or your actual car expenses.
If you opt to use the actual expense method, simply add up all your car-related expenses for the year â gas, oil, tires, repairs, parking, tolls, insurance, registration, lease payments, depreciation, etc. â and multiply the total by the percentage of total miles driven that year for business reasons. For example, if your total annual car costs are $5,000 and 20% of your miles were for business, then your deduction is $1,000 ($5,000 x .2).
Note that the itemized deduction for unreimbursed employee travel expenses has been suspended until the 2026 tax year. So, the business standard mileage rate can’t be used by employees to claim a deduction for their work-related travel costs. However, “above-the-line” deductions for business-related expenses were not suspended. So, for example, members of the National Guard or military reserves, state or local government officials paid on a fee basis, and certain performing artists can still deduct unreimbursed employee travel expenses and use the business standard mileage rate.
If you itemize deductions on your tax return, you can deduct unreimbursed medical expenses that exceed 7.5% of your federal adjusted gross income. The list of medical expenses that qualify for the deduction is long and includes obvious expenses, such as those for doctor bills, medicine, blood tests, bandages, crutches, dental work, oxygen, nursing care, and the like. But it also includes the cost of transportation primarily for, and essential to, medical care.
If you use your own automobile for medical travel, you can deduct actual out-of-pocket expenses such as the cost of gas and oil, but you can’t include depreciation, insurance, general repair, or maintenance expenses. As with the deduction for business use of your car, you can elect to use the standard medical mileage rates above instead of using your actual expenses. Either way, you can tack on parking fees and tolls, too.
According to the IRS, expenses you can’t deduct include:
It used to be that anyone could deduct job-related moving expenses if your new workplace was at least 50 miles farther from your old home than your old home was from your old workplace. However, the 2017 tax reform new tax law killed the moving expense deduction, but with one significant exception â if you’re an active member of the U.S. Armed Forces, the cost of any move associated with a permanent change of station is still deductible if the move was due to a military order. This benefit for military families includes a move from your home to your first post of active duty, a move from one permanent post of duty to another, and a move from your last post of duty to your home or to a nearer point in the U.S.
You can write-off the unreimbursed costs of getting yourself and your household goods to the new location. If you drive your own car for a move in 2022, use the standard mileage rates above plus what you paid for parking and tolls. When it comes time to file your tax return, use Form 3903 to tally your moving deductions.
Most people are generally aware of the charitable tax deductions available to people who itemize, but there’s an often-overlooked aspect of the deduction. In addition to donations of cash or unused items in your home, you can also deduct out-of-pocket costs incurred while doing work for a charity. This includes the costs associated with driving your car for charity. For example, you can deduct car expenses if you use your own vehicle to transport food and supplies to a nonprofit organization’s soup kitchen.
As with the other car-related expenses discussed above, you can either track your actual costs or use the standard mileage rate to calculate your deduction. And, of course, don’t forget to add the cost of parking and tolls.
The credit limit on a credit card is the maximum amount you can spend before needing to repay it. You can request a credit limit increase, but credit card issuers sometimes automatically increase the credit limit of those who have improved their credit scores or who have shown to manage credit well. But is a […]
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This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
A recession may be on the way. One tell-tale sign: The U.S. economy declined by an annualized rate of 1.4% in the first quarter of 2022, according to the U.S. Department of Commerce. While unemployment is historically low and job growth is strong, gas prices are historically high and inflation is at 8.6% â the [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
It’s important tenants keep the apartment in excellent condition for inspections Landlords have the right to inspect the unit for
The post What is My Landlord Searching For During a Rental Inspection? appeared first on The Rent. Blog : A Renterâs Guide for Tips & Advice.