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Tag: Reform

6 year-end tax moves to make before tax reform lands

6 year-end tax moves to make before tax reform lands

Finance
Year-end tax moves may be even more vital this year — before tax breaks and other provisions change under the pending Tax Cuts and Jobs Act.Senate Republicans pushed the latest version of their tax plan through early on Saturday. Senate and House lawmakers will now work to come up with one version of the bill, though they still have some differences to resolve.There are some moves that individuals may want to consider making before the end of the year based on the revisions that are being considered. But experts warn that any moves should be made with the latest Washington happenings in mind."Make sure you're paying attention to what the latest versions of the bills are," said Tim Steffen, director of advanced planning at Baird Private Wealth Management.Here are six areas where year-end ta
Midday Update: Stocks Retreat From Record Highs as Wall Street Assess Geopolitical Risks, Tax Reform Debate

Midday Update: Stocks Retreat From Record Highs as Wall Street Assess Geopolitical Risks, Tax Reform Debate

Finance
Shutterstock photoWall Street's major indices retreated from record highs into negative turf on Tuesday as tax reform debate in Congress along with fresh geopolitical risks in the Middle East rekindles risk aversion.Financial stocks are leading decliners with Dow component stocks Goldman Sachs ( GS ) and JP Morgan ( JPM ) causing the bulk of the blue chips' losses. The energy sector is also underwater after West Texas intermediate ran into profit-taking before challenging the $ 60 per barrel mark.US stocks were flat to slightly lower at the open in sympathy with European bourses, which reversed early gains following a significant miss on German production data along with worries about war erupting between Saudi Arabia and Iran, as well as the fallout from the "Saudi purge" this weekend.S...
Don’t wait for a tax reform to start your tax-planning strategy

Don’t wait for a tax reform to start your tax-planning strategy

Finance
There has been a great deal of discussion concerning tax reform these days, and many people are putting tax planning on hold until they see what Congress is actually going to do. Since that could take a lot of time and we don't know if any changes will actually occur, it makes more sense to plan now and adjust later if the world changes. Focus on what you know and what you can control, and don't worry about any changes until they actually occur.Don't wait until 1099s start arriving, to begin gathering your data for filing. The top priority and most important tax-planning advice is to file as early as possible to avoid tax-return identity theft. Have all backup data possible in early January so that when 1099s do arrive, you are ready to file.One of the most important things you can do righ...
Reform of China’s ailing state-owned firms is emboldening them

Reform of China’s ailing state-owned firms is emboldening them

Finance
ACCORDING to company lore, Yunnan Baiyao, a musty-smelling medical powder, played a vital role during the Long March. As China’s Communist troops fled from attacks in the 1930s, trekking thousands of miles to a new base, they spread its yellow granules on their wounds to stanch bleeding. To this day, instructions on the Yunnan Baiyao bottle recommend application after being shot or stabbed. Many Chinese households keep some in stock to deal with more run-of-the-mill cuts. But the government has recently put its maker into service to treat a different kind of ailment: the financial weakness of state-owned enterprises (SOEs).Yunnan Baiyao has emerged as a poster-child of China’s new round of SOE reform. The company, previously owned by the south-western province of Yunnan, sold a 50% stake t