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Making sense of the new cap on state tax deductions

Making sense of the new cap on state tax deductions

Finance
The GOP tax bill explainedA lot of change is coming to taxes -- how much you'll pay and how you prepare them. Some people will pay more, some will pay less. It depends on many factors. One of the most controversial changes are those surrounding the deduction on state and local income taxes, a.k.a SALT. If you live in a state with high income and property taxes, you could lose out under the new tax plan. We tried to make sense of it for you. How does the SALT deduction work? Under the new plan, taxpayers who itemize will be able to deduct their state individual income, sales and property taxes up to a limit of $ 10,000 in total starting in 2018. Currently the deduction is unlimited. But filers have to choose to deduct either individual income taxes or sales taxes. For most people, deducti...
DanTDM named richest YouTuber of 2017 after making £12.3m

DanTDM named richest YouTuber of 2017 after making £12.3m

Technology
DanTDM has been named the highest-earning YouTuber of 2017 - making £12.3m this year, according to Forbes magazine.The 26-year-old, from Aldershot, started off making videos of himself playing Minecraft and Pokemon.He's got more than 16 million subscribers and has had more than 10 billion views of all his videos.The YouTuber, whose real name is Dan Middleton, did not feature in the top ten list last year.DanTDM's recent live tour included a show at the Sydney Opera House - which became the second fastest-selling show in the venue's history.He started posting videos, which were aimed at the under-10s, while working in Tesco.Back in November, Dan told Newsbeat that he wasn't prepared for the fame he got from being a YouTuber.He said it's intense being a role model for young people and is som
Toutiao, a Chinese news app that’s making headlines

Toutiao, a Chinese news app that’s making headlines

Finance
WHEN rumours swirled in August that Baidu, a Chinese online-search giant, was buying Toutiao, the scrappy news-aggregation platform reportedly quipped in response that reports had mistaken the buyer for the seller. The firm is proud with good reason. Toutiao’s growth since its launch in 2012 has been stellar: it says it has already drawn 700m users to the personalised newsfeeds on its smartphone app. Its valuation has shot up, to $ 22bn in its latest funding round (see chart).Upgrade your inboxReceive our Daily Dispatch and Editors' Picks newsletters.Toutiao’s parent company, Bytedance, is definitely a buyer now. This month it snapped up Musical.ly, a lip-syncing video platform that has captivated American teens, for a reported $ 1bn. It looks like a good match. Musical.ly, based in Shangh
Japan’s top two lavatory-makers are at last making inroads overseas

Japan’s top two lavatory-makers are at last making inroads overseas

Finance
WHEN staff at the Louvre in Paris head to the bathroom, the toilet lid opens as they approach, a warm seat heats their derrières, and, once done, their nether regions are washed and dried precisely. Selling the equipment is a coup for Toto, Japan’s biggest producer of “shower toilets”.Toto and its rival Lixil carve up the Japanese market for fancy, multi-function loos between them. At home they have market shares of 60% and 30% respectively, according to Nomura Securities, a brokerage. Yet they have struggled to win foreign bottoms over to luxuries enjoyed in Japan for many decades.Upgrade your inboxReceive our Daily Dispatch and Editors' Picks newsletters.Today 26% of Toto’s and 30% of Lixil’s revenues come from abroad (much of it from products other than shower toilets). The Japanese mar
Stocks making the biggest moves after hours: AAPL, SBUX & more

Stocks making the biggest moves after hours: AAPL, SBUX & more

Finance
Check out the companies making headlines after the bell: Apple's stock climbed 3 percent after the bell. The tech behemoth posted fourth quarter results with EPS of $ 2.07, blowing past Wall Street expectations of $ 1.87. Its flagship product, the iPhone X, hits stores on Friday and isn't reflected in Thursday's quarterly earnings report.Starbucks shares tumbled 7 percent in extended trading after the company posted mixed quarterly results. Revenue fell lower than Wall Street expectations, but earnings per share were in-line with expectations. The coffee company also announced it is selling the Tazo tea brand to Unilever and will drive a single tea brand strategy with its super premium tea brand, Teavana.Shares of Pandora Media dropped more than 8 percent after hours. The internet radio co...