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Senate tax bill may hurt entrepreneurs with income above $500K

Senate tax bill may hurt entrepreneurs with income above $500K

Finance
Accountants sifting through the Senate version of the GOP tax bill are finding that some of their small business clients may indeed pay more under the proposed legislation.Generally, the Senate bill will permit small business owners to deduct 23 percent of their income, allowing them to save on their taxes. This rate will be available to so-called pass-through entities, including S corporations and limited liability companies (LLCs).The remainder of the income that isn't deductible will be subject to regular income taxes.Under current law, profits from a small business "pass through" to the owner and are taxed at his or her individual rate, which can be as high as 39.6 percent.But accountants are saying that the bill isn't quite so generous for entrepreneurs who already take deductions th...
South Korea defense ministry: THAAD won't hurt environment

South Korea defense ministry: THAAD won't hurt environment

World
Aug. 12 (UPI) -- The Ministry of Defense said Saturday the advanced U.S. missile defense system deployed in a southern town won't cause any adverse effects to the local environment.Earlier in the day, the defense and environment ministries conducted their joint environmental survey of electromagnetic radiation and noise from the Terminal High Altitude Area Defense system in Seongju, southeast of Seoul.Two rocket launchers and a powerful X-band radar are operational at the new U.S. Forces Korea base, formerly a private golf course.The defense ministry said the radiation level at a spot 100 meters from the radar was measured at 0.01659 watt per square meter on average during a six-minute test. From 500 meters away, it was 0.004136 W/㎡. At 700 meters from the radar, the radiation level was 0.
Selling the GOP health care bill: Does Trump help or hurt?

Selling the GOP health care bill: Does Trump help or hurt?

Health
It was a platform most politicians can only hope for: A captivated, 6,000-person crowd and more than an hour of live, prime-time television coverage to hype the Republican vision for a new health care system. But when President Donald Trump got around to talking about the Republican plan — about 15 minutes into his speech — he was wildly off message. Instead of preaching party lines about getting the government out of Americans' health decisions and cutting costs, he declared: "Add some money to it!" The moment captured a major dilemma for Republicans as they look for ways to jumpstart their stalled health care overhaul. A master salesman, Trump has an inimitable ability to command attention, and that could be used to bolster Americans' support for Republican efforts and ramp up pressure
Brexit could hurt London's status as a fintech hub, TransferWise warns

Brexit could hurt London's status as a fintech hub, TransferWise warns

Finance
London's status as a global financial technology hub could be undermined if Brexit complicates the ability of companies to operate across Europe and access to talent becomes difficult, the co-founder of an international online money transfer platform warned Tuesday.Brexit talks kicked off last week between the U.K. and the European Union, following an election that saw Prime Minister Theresa May's Conservative Party lose parliamentary majority. Taavet Hinrikus, CEO of London-based unicorn TransferWise told CNBC on the sidelines of the World Economic Forum's annual June meeting in Dalian that a couple of factors in particular were important to financial technology companies such as his. "It's really two things which are important to TransferWise and all of the high-growing companies in tec...