News That Matters

Tag: this

This is how much income tax you’re paying to your state

This is how much income tax you’re paying to your state

Finance
Getty ImagesNew Yorkers are paying the heftiest state income taxes.Residents in the state paid $ 2,249 per capita in individual state income taxes during the 2017 fiscal year, according to data from the Tax Foundation.Connecticut came in second with $ 2,218. Massachusetts followed in third: $ 2,146.Meanwhile, there are seven states that don't tax individual income: Alaska, Florida, Nevada, South Dakota, Texas, Washington state and Wyoming.Though Tennessee and New Hampshire don't tax wages, they do levy income from interest and dividends.Here's where your state ranks, according to the Tax Foundation.Tax havensIncome taxes make a significant contribution to states' coffers. Nearly 40% of state tax collections come from levies on your wages, according to the foundation.If you're thinking of f...
This blind spot is putting financial advisors and their clients at risk

This blind spot is putting financial advisors and their clients at risk

Finance
Maskot | Maskot | Getty ImagesIt's an email every financial advisor should expect to receive at least once.Financial advisor Charles Failla recalls receiving an email from a client asking for about $ 5,000. She was vacationing in the Caribbean and claimed the hotel where she was staying didn't accept credit cards. "She needed cash," said Failla, certified financial planner and principal at Sovereign Financial Group in New York. "I said, 'I know you're on vacation, but call me collect. I need to confirm it's you before I send money to a Caribbean island.'"After several emails, the client was able to track down a phone and confirm her identity. "She understood and appreciated it," Failla said. "It's definitely a policy at our firm: You get an email asking for money? Verify it with the client...
Tyler Perry to film White House drama ‘The Oval’ this summer

Tyler Perry to film White House drama ‘The Oval’ this summer

Entertainment
June 22 (UPI) -- Filmmaker Tyler Perry is working on The Oval, a new BET Networks drama set in the White House and focused on a fictional, first family. Principal photography is to begin this summer at Tyler Perry Studios in Georgia. The show's ensemble includes Ed Quinn, Kron Moore, Paige Hurd and Daniel Croix Henderson. "I've been hard at work on The Oval and can't wait to share this story with audiences," Perry said in a press release. "I've set out to create a show that tells the story of a family placed in the White House by people of power while also highlighting the personal side and everyday lives of the staff who run the inner workings of the nation's most iconic residence." Perry, 49, wrote the series, and is also producing and directing it. His credits include the Madea film a...
Look, who’s trying to catch a falling knife? Retail, HNI stakes in this crisis-hit stock hit highest levels in 66 quarters

Look, who’s trying to catch a falling knife? Retail, HNI stakes in this crisis-hit stock hit highest levels in 66 quarters

Finance
Mumbai: Foreign institutional investors (FIIs) cut their stake in the crisis-hit Dewan Housing Finance Corporation (DHFL) to lowest level in at least 12 quarters during the January-March period, but holdings of retail and high networth investors (HNI) on the counter hit highest levels in 66 quarters. FIIs held around 17.7 per cent in the company at the end of March, down 460 basis points from December quarter and lowest since the March quarter of 2016. Retail investors and HNIs raised their combined stake to 27.8 per cent, up 640 bps from December quarter. Their holding in the company was highest since the end of September quarter, 2002. “A similar trend was observed in many such distressed companies that are in a downtrend,” said Ajay Bodke, Chief Executive Officer and Chief Portfolio Man