California has borrowed $348 million in federal funds so that it can continue paying out unemployment benefits during the Coronavirus pandemic, according to The Wall Street Journal. About 3.7 million people have filed unemployment claims in the Golden State since … Continue reading →
Treasury securities (also referred to as “Treasuries”) are debt obligations of the U.S. government. The federal government borrows by issuing Treasuries in the forms of bills, notes, bonds and inflation-protected securities (TIPS), depending on the maturity. These debt obligations are … Continue reading →
On March 13, the White House announced a public-private partnership with Walgreens, Walmart, Target, and CVS (and later Rite Aid and Kroger) to provide a portion of their parking lots across the nation for free drive-through COVID-19 testing. In part … Continue reading →
The Tax Cuts and Jobs Act of 2017 (TCJA) abolished three nonresidential real property categories (qualified leasehold improvement property, qualified restaurant property and qualified retail improvement property) and replaced these categories with a broader category known as qualified improvement property … Continue reading →
According to research by Emmanuel Saez and Gabriel Zucman, taking into account all taxes paid (including consumption taxes, payroll tax and residential property taxes), every income group in the United States contributes between 25 percent and 30 percent of its … Continue reading →
A recent study by Seth Benzell, Avinash Collis, and Christos Nicolaides analyzes the COVID-19 transmission risk and social benefits of thirty categories of locations in the U.S., from parks, to museums, to grocery stores. By combining several measures of the … Continue reading →
Funds for the first-come, first-served SBA Paycheck Protection Program are depleted, according to the SBA website. Congress allotted $349 billion for the Program as part of the $2.2 trillion coronavirus spending bill known as the CARES Act. The Paycheck Protection … Continue reading →
Internal Revenue Code Section 1031 allows an investor to defer the capital gains tax from the sale of real estate when similar parcels are swapped and no gain or loss is realized. The investor must identify the replacement property(ies) (using … Continue reading →
On April 7, four small business clients of Bank of America filed a lawsuit in the U.S. District Court for the District of Maryland challenging Bank of America’s gating policy that restricts customers’ eligibility to apply with the bank for … Continue reading →
A stock buyback occurs when a company buys back its shares in the open market. The move causes the repurchased shares to be absorbed by the company thus reducing the number of shares that trade publicly and increasing the relative … Continue reading →