Adjusted income – Im Just Sayin http://imjustsayin.net/ Wed, 24 Nov 2021 03:08:26 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://imjustsayin.net/wp-content/uploads/2021/10/icon-5-120x120.png Adjusted income – Im Just Sayin http://imjustsayin.net/ 32 32 North Dakota Residents See Average Income Drop 5% on 2020 Tax Returns https://imjustsayin.net/north-dakota-residents-see-average-income-drop-5-on-2020-tax-returns/ Tue, 23 Nov 2021 23:55:25 +0000 https://imjustsayin.net/north-dakota-residents-see-average-income-drop-5-on-2020-tax-returns/ Income tax returns for North Dakota residents showed a 5% drop in average income in fiscal year 2020, largely due to the COVID-19 pandemic, the Department of Taxation of Canada reported on Tuesday. the state. Not only did reported income decline last year for all residents of North Dakota, but the number of filers has […]]]>

Income tax returns for North Dakota residents showed a 5% drop in average income in fiscal year 2020, largely due to the COVID-19 pandemic, the Department of Taxation of Canada reported on Tuesday. the state.

Not only did reported income decline last year for all residents of North Dakota, but the number of filers has also declined. Gross income reported by North Dakotas fell 8.4% in 2020, while the number of filers also fell by more than 18,000 from the previous year, according to figures provided to The Associated Press .

Average adjusted gross income in North Dakota also fell almost 5%, from $ 65,829 in 2019 to $ 62,696 last year.

According to Kathy Strombeck, an analyst for the tax department, the 5% drop in average income is not as bad as the state had predicted.

“Given the COVID-related closures and negative oil price weeks, a 5% drop in average income per return is not as bad as we expected,” Strombeck said.

For more Associated Press reporting, see below.

Tax returns for North Dakota residents showed a 5% drop in average income in fiscal year 2020, the state’s tax department reported. Above, the current federal tax forms are distributed at the offices of the Internal Revenue Service on November 1, 2005, in Chicago, Illinois.
Scott Olson / Getty Images

North Dakota’s oil industry has helped raise wages statewide and created hundreds of well-paying jobs for more than a decade. It also affects other industries, including wholesale trade and manufacturing.

The numbers are still well above the numbers before the oil boom ten years ago. In 2006, there were 339,000 tax filers, with an adjusted average gross income of approximately $ 43,300.

North Dakota currently has about 18,500 job postings online, according to Job Service North Dakota. Governor Doug Burgum and other state officials often say the true number is closer to 30,000.

Although the state’s economy has been hit by a shortage of workers, a growing population and rebounding oil prices have helped keep tax revenues near record highs.

Oil prices are a key contributor to North Dakota’s wealth, and the state’s crude production has recovered somewhat from last summer’s lows, but is nowhere near the record 1.5 million barrels per day produced at the end of 2019.

North Dakota’s oil production was around 1.1 million barrels per day in September, the latest figures available.

North Dakota crude prices were 32 percent higher than the state’s tax revenue forecast. The state’s population is estimated at a record 779,000, which means it has grown 16% over the past decade.


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Consideration of a minimum corporate tax https://imjustsayin.net/consideration-of-a-minimum-corporate-tax/ Mon, 22 Nov 2021 01:56:19 +0000 https://imjustsayin.net/consideration-of-a-minimum-corporate-tax/ One of the provisions buried in the Build Back Better bill is the implementation of a 15% minimum corporate tax rate, with Elizabeth Warren being the most vocal champion and main cheerleader. Given that 55 top profitable companies paid no tax in the last fiscal year, the idea of ​​imposing a minimum tax is seen […]]]>

One of the provisions buried in the Build Back Better bill is the implementation of a 15% minimum corporate tax rate, with Elizabeth Warren being the most vocal champion and main cheerleader. Given that 55 top profitable companies paid no tax in the last fiscal year, the idea of ​​imposing a minimum tax is seen as a way to correct a tax result that many consider unfair.

Fairness, of course, is in the eye of the beholder. In the case of corporate tax, for example, some argue that any tax is unfair because the same profits are taxed a second time when distributed to shareholders. Thus, the imposition of corporation tax primarily allows double taxation. Moreover, some argue that these taxes have engendered an exaggerated evolution of lobbying by vested interests that have detrimental effects disproportionate to the relatively small contribution that corporate taxes make to total federal taxes collected. [Corporate taxes account for about seven percent of total Federal tax revenues.] However, it seems that this view is held by a minority and most people approve of the idea of ​​taxing corporations. The debate therefore seems to revolve around how these tax obligations should be determined.

As a prelude to how we have come to the point where profitable companies have managed to avoid paying tax, it is important to recognize the different responsibilities of two key regulatory institutions: the Financial Accounting Standards Board (FASB) and the Internal Revenue Service (IRS). The FASB is an independent agency, authorized by the Securities and Exchange Commission to establish generally accepted accounting principles (GAAP). These accounting rules must be followed by public companies in the United States, and they serve as the basis for a myriad of capital allocation decisions. The better-known IRS is an office of the Treasury Department responsible for enforcing rules passed by Congress for the collection of tax revenues.

A number of definitions are in order: FASB rules require public companies to produce income statements, which report net income or net income during the prescribed accounting period, typically a quarter or a year. Both net profit and net profit measure the difference between reported income and reported expenses for the period. This resulting difference is the amount used when calculating a company’s earnings per share. [Company often calculates other profit measures, besides net profit. For instance, gross profit is total revenues less only those expenses relating to the cost of goods sold.]

The real reason some profitable businesses have been able to operate without any federal tax liability is that the IRS bases its tax calculations, not on net income or net income as defined by GAAP, but rather on income. taxable, defined (or determined) by the IRS as defined by laws passed by Congress. These laws allow (a) dozens of deductions far in excess of any expenses allowed by GAAP, often with those deductions benefiting specific industries or businesses, and (b) the exclusion of certain forms of income that businesses win. The resulting taxable income values ​​can end up being very far from the GAAP net income figure. As a result, both in theory and in practice, companies could have a positive net profit but zero or negative taxable income value, putting these entities squarely under Elizabeth Warren’s crosshairs.

The separation of the two authorities has so far served to isolate the FASB from pressures that could move it away from its position of independence. If and when the FASB’s measure of net income becomes more relevant to determining the taxes of more businesses, these budgetary considerations could likely make the FASB the target of pressure from Congress and special interests seeking to influence how revenues and expenses are measured and reported under GAAP.

Congress clearly had, and could still have, an alternative approach, aside from implementing a minimum corporate tax based on net income – an approach that would do more to protect the independence of the FASB. That is, it could reassess the definition of taxable income. To the extent that the current definition of taxable income inappropriately exaggerates expenses or excludes income, these choices can and should be adjusted. Many of these provisions serve the narrow interests of a minority of businesses to the detriment of the rest of us. Sadly, Congress just hasn’t shown the will or the ability to change these kinds of rules, no matter how blatantly unfair they seem.

The proposal to apply a minimum tax rate of 15% to reported net income under GAAP seems to me to be the second best alternative. While a better solution might be for Congress to revise the rules for determining taxable income, that path seems unlikely. If we are to have an income-based corporate tax, replacing the current definition of taxable income with GAAP net income strikes me as a reasonable adjustment – an adjustment that deserves bipartisan support.


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3 super dividend-paying stocks to own for passive income https://imjustsayin.net/3-super-dividend-paying-stocks-to-own-for-passive-income/ Mon, 15 Nov 2021 23:00:00 +0000 https://imjustsayin.net/3-super-dividend-paying-stocks-to-own-for-passive-income/ cash dividends Written by Ambrose O’Callaghan at Motley Fool Canada This time last year I discussed why Canadians might be looking to build passive income and change their work-life balance. Retirees should be particularly drawn to this strategy. Historically low interest rates have downgraded traditional bond products. Investors have to take some risk in order […]]]>

cash dividends

Written by Ambrose O’Callaghan at Motley Fool Canada

This time last year I discussed why Canadians might be looking to build passive income and change their work-life balance. Retirees should be particularly drawn to this strategy. Historically low interest rates have downgraded traditional bond products. Investors have to take some risk in order to guarantee income above inflation in this climate. Today i want to watch three dividend stocks which could allow retirees to swallow passive income.

Why this REIT is perfect for retirees in 2021 and beyond

FPI Granite (TSX: GRT.UN) is a Toronto-based real estate investment trust dedicated to the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe . The shares of this dividend-paying stock climbed 29% in 2021 by the late morning of November 15. The stock is up 4.2% month over month.

In the third quarter of 2021, Granite REIT saw its net operating income (NOI) increase to $ 84.5 million from $ 76.5 million the year before. Meanwhile, Adjusted Funds From Operations (AFFO) jumped to $ 61.2 million, or $ 0.93 per share, from $ 52.7 million, or $ 0.91 per share, in the third quarter of 2020. Revenue increased to $ 288 million in the first nine months of 2021, from $ 247 million for the same period last year.

Retirees should look to add this dividend stock which has a very attractive price / earnings (P / E) ratio of 5.7. It offers a quarterly dividend of $ 0.25 per share. This represents a yield of 3%.

Suck Passive Income With This Grocery Focused REIT

Retail grocery stocks have offered investors additional security during the COVID-19 pandemic. Essential services have proven to be a strong target in the face of the crisis. What’s more, soaring inflation impacted food prices and gave retailers a boost. Retirees looking to hedge against rising inflation should consider this REIT.

FPI Grocery Slate (TSX: SGR.U) is a Toronto-based REIT that owns and operates grocery real estate in the United States. Shares of this dividend stock have climbed 18% in the period since the start of the year. The title is up 12% compared to the same period in 2020.

The REIT released its third quarter 2021 results on November 2. Its new rental volume reached a record 229,290 square feet, up 18% from the previous year. Rental revenue increased 6.6% year-over-year to $ 34.0 million in the third quarter of 2021. Meanwhile, Adjusted Funds From Operations (AFFO) jumped 28 % to $ 11.4 million. Retirees looking for passive income can count on its monthly distribution of $ 0.072 per share. This represents a monster return of 7.9%.

One more stock of passive income for retirees today

Northwest Healthcare REIT (TSX: NWH.UN) is a Toronto-based REIT that owns and operates a global portfolio of high quality healthcare real estate. The demand for health services is expected to explode in the years and decades to come as the developed world grapples with an aging population. This makes Northwest a great target for retirees. Shares of this REIT climbed 8.9% in 2021. The stock is up 10% year over year.

In the third quarter of 2021, revenue was largely flat at $ 95.6 million. It recorded a strong portfolio occupancy of 96.9%, up 20 basis points from the previous quarter. Meanwhile, its international portfolio held steady at a solid 98.5%. Total assets under management jumped 15% from the previous year to $ 8.5 billion.

Retirees hungry for passive income can count on Northwest’s monthly distribution of $ 0.067 per share. This represents a strong yield of 5.9%. This dividend-paying share also benefits from a very favorable P / E ratio of 6.7.

The post office Retirees: 3 super dividend stocks to own for passive income appeared first on The Motley Fool Canada.

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More reading

Foolish contributor Ambrose O’Callaghan has no position in any of the stocks mentioned. The Motley Fool recommends GRANITE REAL ESTATE INVESTMENT TRUST and NORTHWEST HEALTHCARE PPTYS REIT UNITS.

2021


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New data shows house prices are rising much faster than incomes https://imjustsayin.net/new-data-shows-house-prices-are-rising-much-faster-than-incomes/ https://imjustsayin.net/new-data-shows-house-prices-are-rising-much-faster-than-incomes/#respond Sat, 06 Nov 2021 15:00:49 +0000 https://imjustsayin.net/new-data-shows-house-prices-are-rising-much-faster-than-incomes/ It’s no secret that home prices have risen since the start of 2021. Low mortgage rates have pushed home buyers to become homeowners at a time when the housing market was running low on inventory. The result? Buyers continue to compete for the same properties, driving home prices nationwide. It’s not just that house prices […]]]>

It’s no secret that home prices have risen since the start of 2021. Low mortgage rates have pushed home buyers to become homeowners at a time when the housing market was running low on inventory. The result? Buyers continue to compete for the same properties, driving home prices nationwide.

It’s not just that house prices have exploded this year. They have also increased over time.

This is natural, as homes are one type of asset that can rise in value over the years. What is problematic is that data from Real Estate Witch shows that home prices have increased faster than incomes, putting buyers at a huge disadvantage.

U.S. wages can’t keep up with house prices

Since 1965, the average home value in the United States has increased from $ 171,942 to $ 374,900, which is an increase of 118%. During this period, the median household income fell from $ 59,920 to $ 69,178 in inflation-adjusted dollars. This only represents a 15% increase.

In fact, house prices have increased 7.6 times faster than income since 1965 and 3.1 times faster than income since 2008. These two measures explain inflation.

Real Estate Witch also says that to afford a home in 2021, buyers need an average income of $ 144,192. But the current median household income is much lower – $ 69,178.

Can you afford to buy and own a home?

When thinking about the affordability of a home, it’s easy to confuse a person’s ability to buy a home with their ability to maintain a home. Buying a home means making a down payment and qualifying for a mortgage (in most cases, although some buyers may buy a home directly).

Then comes the tricky part: tracking the owner’s spending over the years. As homes age, more maintenance and repairs may become necessary. Homes can also become more expensive to insure, and property taxes also have a devious way to increase over time. The more expensive a home starts up, the more difficult it can be for a buyer with an average income.

If you are not sure if you are earning enough to own a house, you will need to do some math. First, calculate what your monthly housing costs might look like in terms of your mortgage payment, property tax bill, insurance premiums, and any other predictable expenses that might apply to you, such as fees. HOA. Then compare this total to your take-home pay. If this number is 30% or less, then you are in good enough shape to buy. But in general, your housing costs should not exceed 30% of your income.

Of course, all of this assumes that you have enough money for a down payment on a house. Given today’s house values, this is a more difficult thing to do.

Will things get better or worse for homebuyers?

While it is possible to buy a house with an average income, it has clearly become more difficult over the years. And if this trend continues, there is the risk that homeownership will become something only the rich can afford.

The record home prices we’ve seen this year are expected to start falling as more inventory hits the real estate market and buyer demand begins to decline. But even so, we could still live several decades where house prices outpace wage growth, leaving more and more potential buyers out in the cold.


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Triumphant return to concerts sees Live Nation report third quarter net income of $ 46.9 million; Stocks soar 13% https://imjustsayin.net/triumphant-return-to-concerts-sees-live-nation-report-third-quarter-net-income-of-46-9-million-stocks-soar-13/ https://imjustsayin.net/triumphant-return-to-concerts-sees-live-nation-report-third-quarter-net-income-of-46-9-million-stocks-soar-13/#respond Fri, 05 Nov 2021 20:40:00 +0000 https://imjustsayin.net/triumphant-return-to-concerts-sees-live-nation-report-third-quarter-net-income-of-46-9-million-stocks-soar-13/ Jena Ardell / Getty ImagesThings are improving:Live Nation reports that its confirmed number of shows in amphitheatres, arenas and stadiums is up double digits from the same period in 2019 for shows in 2020. Driven by festivals, pent-up fan demand and robust ancillary revenue, Live Nation beat Wall Street expectations and reported third-quarter net income […]]]>
Jena Ardell / Getty ImagesThings are improving:Live Nation reports that its confirmed number of shows in amphitheatres, arenas and stadiums is up double digits from the same period in 2019 for shows in 2020.

Driven by festivals, pent-up fan demand and robust ancillary revenue, Live Nation beat Wall Street expectations and reported third-quarter net income of $ 46.9 million, or 19 cents per share, reversing a loss of $ 528.9 million, or $ 2.45 per share. part a year ago when it released its third quarter 2021 financial reports on November 4.

The stock market reacted. Shares of Live Nation climbed 13% to $ 121.92 after-hours trading on November 4 and continued to rise the next day. hitting a high of $ 127.75 per share before settling at $ 123.88 at the end of trading on November 5.

The soaring share price is nice, but doesn’t tell the story of what happened in the last quarter or even the year. Live Nation reported positive operating income ($ 137 million) and adjusted operating income (306 million) for the first time in two years, said Live Nation President and CEO Michael Rapino , in a press release.

Live Nation reported third quarter net income of $ 46.9 million, or 19 cents per share, offsetting a loss of $ 528.9 million, or $ 2.45 per share from a year ago.

“Revenues increased nearly 15-fold to $ 2.7 billion from $ 184 million a year earlier. The latest figure blew the FactSet analyst consensus of $ 1.92 billion, ”Rapino wrote. “The 2021 summer concert season has rebounded quickly, with 17 million fans attending our shows in the quarter as the live comeback reflected huge pent-up demand.

“Festivals have been a big part of our comeback this summer, with many of our festivals selling out in record time and overall ticket sales for major festivals are up 10% from 2019. And we have already had a number of tours that have already sold over 500,000 tickets to shows this year, including sold-out tours by Harry Styles, Chris Stapleton and others.

Live Nation reports that fans have spent money at record levels, with on-site spend per fan up more than 20% at amphitheatres and festivals compared to 2019 which everyone agreed was in itself a pivotal year for live music.

Rapino addressed the challenges of exiting an ever-dangerous pandemic, noting that vaccination and testing protocols have not negatively impacted ticket sales, none of his events have contributed to flare-ups infection, and even the much-touted staff shortages in many employment sectors did not materialize at Live National Events.

“We achieved these results in an operating environment that required us to accelerate quickly, institute new health and safety protocols and staff our front line in a tight labor market,” said Rapino. “On the health and safety front, we’ve set the industry standard by requiring proof of vaccine or testing for our shows, with no change in fan buying behavior. Most importantly, our protocols have proven to be effective in mitigating major disruption of COVID in our operations in the US and UK and have allowed us to work collaboratively with local health authorities to mitigate the risks of transmitting our events. In terms of manpower, we were able to meet the staffing needs for our peak outdoor season without any disruption to the show. “

Ticketmaster also had its highest quarter of operations and AOI in history, reports Live Nation, led by the restart of sports leagues and increased concert sales in 2022.

Sponsorship and advertising also rebounded, generating more than $ 100 million in operating and AOI revenue.

“As we look to 2022, we are encouraged by all of our leading metrics in every business. Until October, our confirmed number of shows in amphitheatres, arenas and stadiums is up double digits from the same period in 2019 for shows in 2020, and until mid-October we have already sold 22 million tickets for our shows in 2022. Demand has been stronger than ever for many of these sales with one million tickets sold for each Coldplay and Red Hot Chili Peppers tour, and several other tours already selling over 500,000 tickets. Rapino said.

“As we get closer to turning the page 2021, I remain more convinced than ever of the power and potential of performing arts, and the strength of our position. No industry has been more affected by the pandemic in the past two years, and no industry has so proven its sustainability of demand in the face of such a disruption.

“I expect that we will continue to have obstacles on the road in the months to come, and it will take some time for international artists to tour on a truly global basis, but the fundamental strength of live entertainment and Live Nation has a proven track record, and I expect us to continue to grow from here.


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Realty Income Corp. (O) missing Q3 FFO estimates https://imjustsayin.net/realty-income-corp-o-missing-q3-ffo-estimates/ https://imjustsayin.net/realty-income-corp-o-missing-q3-ffo-estimates/#respond Mon, 01 Nov 2021 21:25:06 +0000 https://imjustsayin.net/realty-income-corp-o-missing-q3-ffo-estimates/ Realty Income Corp. (O) came out with quarterly operating funds (FFOs) of $ 0.91 per share, missing Zacks’ consensus estimate of $ 0.92 per share. This compares to the FFO of $ 0.81 per share a year ago. These figures are corrected for non-recurring items. This quarterly report represents a surprise FFO of -1.09%. A […]]]>

Realty Income Corp. (O) came out with quarterly operating funds (FFOs) of $ 0.91 per share, missing Zacks’ consensus estimate of $ 0.92 per share. This compares to the FFO of $ 0.81 per share a year ago. These figures are corrected for non-recurring items.

This quarterly report represents a surprise FFO of -1.09%. A quarter ago, this REIT was expected to post an FFO of $ 0.88 per share when it did indeed produce an FFO of $ 0.88, unsurprisingly.

In the past four quarters, the company has twice exceeded consensus FFO estimates.

Realty Income Corp., which is part of the Zacks REIT and Equity Trust – Retail business, reported revenue of $ 491.88 million for the quarter ended September 2021, beating Zacks’ consensus estimate by 2.67%. This compares to last year’s revenue of $ 404.57 million. The company has exceeded consensus revenue estimates four times in the past four quarters.

The sustainability of the immediate stock price movement based on recently released numbers and FFO’s future expectations will depend primarily on management comments on the profit call.

The shares of Realty Income Corp. are up about 14.9% year-to-date compared to the S&P 500’s 22.6% gain.

What’s next for Realty Income Corp.

While Realty Income Corp. has underperformed the market so far this year, the question that comes to investors’ minds is: what’s next for the stock?

There are no easy answers to this key question, but one reliable metric that can help investors address this issue is the company’s FFO outlook. This not only includes the current consensus FFO expectations for the upcoming quarter (s), but also how those expectations have changed in recent times.

Empirical research shows a strong correlation between short-term stock movements and trends in estimate revisions. Investors can track these revisions on their own or rely on a proven scoring tool like Zacks Rank, which has an impressive track record of harnessing the power of estimate revisions.

Prior to this earnings release, the trend of estimate revisions for Realty Income Corp. was supportive. While the magnitude and direction of estimate revisions may change as a result of the company’s just released earnings report, the current status translates to a Zacks Rank # 2 (Buy) for the stock. Thus, stocks are expected to outperform the market in the near future. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

It will be interesting to see how the estimates for the next quarters and the current year evolve in the days to come. The current consensus FFO estimate is $ 0.93 out of $ 513.92 million in revenue for the coming quarter and $ 3.58 out of $ 1.95 billion in revenue for the current year.

Investors should be aware that the outlook for the sector can also have a significant impact on the performance of the stock. In terms of Zacks’ industry rankings, REIT and Equity Trust – Retail are currently in the top 17% of the more than 250 Zacks industries. Our research shows that the top 50% of industries ranked by Zacks outperform the bottom 50% by a factor of more than 2 to 1.

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To read this article on Zacks.com, click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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Taxpayers are reimbursed directly to their bank account https://imjustsayin.net/taxpayers-are-reimbursed-directly-to-their-bank-account/ https://imjustsayin.net/taxpayers-are-reimbursed-directly-to-their-bank-account/#respond Sun, 31 Oct 2021 13:15:00 +0000 https://imjustsayin.net/taxpayers-are-reimbursed-directly-to-their-bank-account/ To make it as easy as possible for taxpayers, the Income Tax Bill-2022 proposes to pay income tax refunds directly to their bank accounts through an automated system, said the chairman of the National Board of Revenue. (NBR), Abu Hena Md Rahmatul Muneem. While sharing the details of the proposed law at a seminar on […]]]>

To make it as easy as possible for taxpayers, the Income Tax Bill-2022 proposes to pay income tax refunds directly to their bank accounts through an automated system, said the chairman of the National Board of Revenue. (NBR), Abu Hena Md Rahmatul Muneem.

While sharing the details of the proposed law at a seminar on Sunday, the NBR chairman said various measures such as abolishing the discretion of tax officials on the ground will make the new law fully business-friendly.
The proposed law also includes international best practices, he added.

At the same time, some provisions have been added to the law to prevent tax evasion in various ways, including transfer pricing.

The NBR chairman said the proposed bill has already been posted on the NBR website. It will go to Cabinet for approval next month after taking recommendations from various stakeholders by November 25, he continued.
The NBR chairman, however, did not specify when the law could be tabled in parliament.

The current Income Tax Act is in effect under the Income Tax Ordinance, 1984. Even though the law has been amended by statutory ordinances from time to time, it is still an ordinance. .

In 2011, the government spoke for the first time about the formulation of a new income tax law. Despite extensive activity and review in recent years, the long-awaited new income tax law has yet to be adopted.

Asked about the delay at Sunday’s press conference, the NBR president declined to comment.

The NBR chairman briefed the media on the changes to the bill.

He said that although the existing law is in English, efforts have been made to present the new law in Bengali and in a straightforward manner.

Unlike the existing law, the new one has separate chapters and sections that integrate all issues related to the determination of taxpayer income in a particular sector.

In addition, the bill includes various provisions aimed at ensuring the transparency of the control of the tax files of tax officials, at making the rules of withholding and collection at source more clear and precise, and at avoiding any ambiguity in the calculation of taxpayer income, to adjust losses and to make deductions. , and streamline the approval of business spending, the NBR chairman said.

In addition, national transfer pricing and anti-avoidance rules have been introduced.

The NBR chairman said that one of the goals of the new income tax law is to accelerate the country’s economic growth, ensure a favorable tax environment, ensure responsible tax administration and facilitate tax administration.

Senior NBR officials were also present at the press conference.


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Child tax credit payments can now be adjusted for changes in income (but there is a deadline) https://imjustsayin.net/child-tax-credit-payments-can-now-be-adjusted-for-changes-in-income-but-there-is-a-deadline/ https://imjustsayin.net/child-tax-credit-payments-can-now-be-adjusted-for-changes-in-income-but-there-is-a-deadline/#respond Fri, 29 Oct 2021 20:18:02 +0000 https://imjustsayin.net/child-tax-credit-payments-can-now-be-adjusted-for-changes-in-income-but-there-is-a-deadline/ You can now adjust your monthly child tax credit payments if your income has increased or decreased this year. However, you’ll have to act quickly if you want to change the amount of your next installment, which is due on November 15th. The deadline for notifying the IRS of a change in income is midnight […]]]>

You can now adjust your monthly child tax credit payments if your income has increased or decreased this year. However, you’ll have to act quickly if you want to change the amount of your next installment, which is due on November 15th. The deadline for notifying the IRS of a change in income is midnight November 1 (it’s Monday!) if you want your next payment to be higher or lower. Income changes reported before this date will also be reflected in your December 15 payment, which will be the last monthly payment in 2021.

If you can’t meet the November 1 deadline, notify the IRS of the income adjustment by November 29 to have it reflected in your December child tax credit payment. If you are married, an income update made by one of the spouses will apply to both spouses, which could affect future monthly payments for both of you.

Why your income is important

The amount of each monthly child tax credit payment is typically based on information taken from your 2020 federal income tax return, and one of the key information is your income for the past year. If your income for 2021 is significantly higher or lower than your income for 2020, it may mean that you are receiving too much or too little each month from the IRS.

For example, suppose your income for 2020 is slightly above the applicable child tax credit phase-out threshold for 2021. This means – based on your 2020 tax return – the IRS is likely to reduce your income. monthly child tax credit payments. However, if you were unemployed for part of 2021 and your income is lower this year, your 2021 child tax credit may not be affected by the phase-out rules. In this case, telling the IRS that your 2021 income is lower could result in a higher monthly payment in November and December. (Note that, if you are already receiving the maximum payout amount, a drop in income will not result in a larger payout.)

On the flip side, if your income is significantly higher in 2021 than it was in 2020, you might want your monthly child tax credit payments to be reduced (or even eliminated by excluding yourself. ) – especially if you receive the maximum monthly payment. but expect to qualify for less than the full credit for 2021. If the total amount of your monthly payments exceeds the 2021 child tax credit to which you are entitled, you may need to repay the excess amount when you file your 2021 return. In this case, reporting the highest income amount now will allow the IRS to adjust your final payments accordingly.

How to report a change in income

To report a change in income, go to the Child Tax Credit Update Portal on the IRS website (you will need an existing IRS account or ID.me account to access the portal). You can only use the portal to update your income if you are already eligible and receive monthly child tax credit payments based on your 2020 income tax return. If you have filed a joint income tax return for the 2020 tax year, you can only update your income if you plan to file a joint tax return for 2021 with the same spouse. Once you have completed the income update, the portal will recognize that a change has been made. However, the change will not be displayed.

Also note that IRS representatives cannot process income changes over the phone or at taxpayer assistance centers. They will also not be able to confirm that a revenue update has been performed. So stay on the portal and don’t waste your time trying to call the IRS to make a change or verify that a change has been made.

For full 2021 Child Tax Credit coverage, including monthly payments, see 2021 Child Tax Credit: How Much Will I Get? When will the monthly payments arrive? And other FAQs.


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Low- and middle-income parents who receive universal payments increase spending on children https://imjustsayin.net/low-and-middle-income-parents-who-receive-universal-payments-increase-spending-on-children/ https://imjustsayin.net/low-and-middle-income-parents-who-receive-universal-payments-increase-spending-on-children/#respond Fri, 29 Oct 2021 02:04:00 +0000 https://imjustsayin.net/low-and-middle-income-parents-who-receive-universal-payments-increase-spending-on-children/ When receiving cash without strings attached, low- and middle-income parents increased their spending on their children, according to a Washington State University study. The study, published in the journal Social forces, also found that the additional funding had little impact on spending related to children of high-income parents. For the study, WSU sociologist Mariana Amorim […]]]>

When receiving cash without strings attached, low- and middle-income parents increased their spending on their children, according to a Washington State University study. The study, published in the journal Social forces, also found that the additional funding had little impact on spending related to children of high-income parents.

For the study, WSU sociologist Mariana Amorim analyzed the expenses of recipients of Alaska Permanent Fund payments. Funded by state oil revenues, the fund is the closest US program to a universal basic income. Every Alaskan resident receives a payment called a dividend; the total amount varies each year, but over the period covered by this study, 1996 to 2015, payments averaged about $ 1,812 per person, or $ 7,248 for a family of four, after adjustment for inflation in 2014 dollars.

Amorim found that after the lump-sum payments, low- and middle-income parents made more purchases of education, clothing, recreation and electronics for their children.

The results contradict a common argument in the United States that poor parents cannot be trusted to receive money to use however they want, Amorim said.

The data suggests that low-income parents are responsible for using cash payments, so we don’t need to be so afraid to give poor people money that can help their families. Low-income parents need to spend more of the money they received on basic necessities, like catching up on bills or fixing a broken car, but they still managed to invest the amount. remaining to invest in their children. “

Mariana Amorim, WSU sociologist

Amorim used 20 years of data from consumer spending surveys to analyze spending by parents in Alaska around the time they received annual payments from the fund. She compared these spending habits to those of parents in the continental United States who did not receive the payments.

While all parents appeared to increase some child-related expenses after the installments, low- and middle-income parents have increased their spending in categories that may be most important to their children’s future, such as education. In contrast, high-income Alaskan parents showed no significant increase in child-related spending after remittances, except for a modest increase in clothing purchases.

Although the data could not reveal the exact reason, Amorim said that the lack of a significant change in spending related to children may indicate that high-income parents have already maximized their spending in this area or are saving significantly. money for future investments.

“We know that with their normal income, high income parents spend a lot on their children,” Amorim said. “High-income Alaskan parents can save a lot of money on payments, and that’s why we don’t see spikes in current spending. This is something I can’t investigate with this data, but s ‘they’re saving for college or a down payment on the house, we might see bigger inequalities in the future. “

Although the study has policy implications, Amorim warned that Alaska’s program is not a perfect model for universal basic income policies. The Alaska dividend is a one-time payment that affects how people spend their money. For example, research suggests that electronics expenses increase when people receive a lot of money at the same time because they can afford those big ticket items. If they were given a smaller amount of money each month, parents can choose to spend on items with smaller or more spread out costs, like books or monthly lessons.

The universal nature of one-off payments in Alaska, however, provides key information about how low-income parents spend their money compared to high-income parents, and how socio-economic differences in spending decisions might affect families. future inequalities.

“The spending behaviors of low-income parents suggest they are trying to catch up, even though they cannot keep pace with higher-income parents in the long run,” Amorim said.

Source:

Journal reference:

Amorim, M., (2021) Socioeconomic Disparities in Parental Spending After UTC: The Case of the Alaska Dividend. Social forces. doi.org/10.1093/sf/soab119.


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Raymond James Financial Reports Adjusted Net Income and Higher Revenue for Fourth Quarter of the Fiscal Year https://imjustsayin.net/raymond-james-financial-reports-adjusted-net-income-and-higher-revenue-for-fourth-quarter-of-the-fiscal-year/ https://imjustsayin.net/raymond-james-financial-reports-adjusted-net-income-and-higher-revenue-for-fourth-quarter-of-the-fiscal-year/#respond Wed, 27 Oct 2021 21:03:02 +0000 https://imjustsayin.net/raymond-james-financial-reports-adjusted-net-income-and-higher-revenue-for-fourth-quarter-of-the-fiscal-year/ Newswires MT 2021 All the news on RAYMOND JAMES FINANCIAL, INC. Analyst Recommendations on RAYMOND JAMES FINANCIAL, INC. Sales 2021 9,573 million – – Net income 2021 1,335 million – – Net cash 2021 3,042 million – – PER 2021 ratio 16.1x Yield 2021 1.35% Capitalization 20,552 million 20,552 million – VE / Sales 2021 […]]]>

Newswires MT 2021

All the news on RAYMOND JAMES FINANCIAL, INC.

Analyst Recommendations on RAYMOND JAMES FINANCIAL, INC.

Sales 2021 9,573 million

Net income 2021 1,335 million

Net cash 2021 3,042 million

PER 2021 ratio 16.1x
Yield 2021 1.35%
Capitalization 20,552 million
20,552 million
VE / Sales 2021 1.83x
VE / Sales 2022 1.71x
Number of employees 14,800
Free float 76.4%

Chart RAYMOND JAMES FINANCIAL, INC.
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Technical Analysis Chart of Raymond James Financial, Inc. |  MarketScreener

Trends in Technical Analysis RAYMOND JAMES FINANCIAL, INC.

Short term Mid Road Long term
Tendencies Bullish Bullish Bullish

Evolution of the income statement

To sell

To buy

Average consensus SURPASS
Number of analysts 11
Last closing price

$ 99.87

Average price target

$ 110.19

Spread / Average target 10.3%


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