Month: January 2018

The International Revenue Service (IRS) can audit any business tax return within three years of its filing, as well as collect back taxes owed for up to 10 years. For years, however, Apple has faced criticism for avoiding taxes in both Europe and the United States. According to Wired, Apple said it would pay back an estimated $38 billion in foreign cash taxes to bring some of the money that was kept oversees back to the United States. “The magnitude … Continue reading “Apple Paying Back Approximately $38 Billion In Foreign Cash Taxes”

Judge Martin Glenn of the U.S. Bankruptcy Court in New York declared a settlement agreement that would require General Motors to pay $1 billion in stock to car owners not enforceable. The judge claimed the agreement that car owners had reached with a trust which holds many GM liabilities from before its 2009 bankruptcy was not valid without signatures. The lawsuit stems from GM’s 2014 recall of millions of vehicles with defective ignition switches. One of the claims includes defective … Continue reading “$1 Billion Stock Payout From GM Declared Not Enforceable”

The U.S. oil industry is set to break a 1970 record for oil output. According to Reuters, shale production has pushed American oil output to 10 million barrels of oil a day, a total that’s expected to rise to 11 million by 2019. The surprising output of oil has had a significant impact on the U.S. economy. The surge in oil output has found jobs for many Americans and has also reduced gas prices by up to 37%. What’s more, … Continue reading “U.S. Oil Industry Back On Top, Set To Break Global Record”

New data shows employee happiness is more important than ever when it comes to keeping workers on your staff. According to a survey conducted by Jive Communications, Americans aged 18 to 34 are more likely to leave their jobs because they’re unhappy with the atmosphere of their workplace. The survey asked approximately 2,000 millennial employees why they’d left their previous jobs. While company culture was the leading cause of quitting, up to 64% of responders reported they would quit a … Continue reading “New Data Shows Millennials Less Likely To Stick With Unsatisfactory Jobs”

The new year means some major changes coming to the business sector. Although no one can predict with 100% accuracy exactly what’s to come out of 2018, there have already been noted positives and negatives within the U.S. business market. According to Accounting Today, the minimum wage increases in states across the country are leading to increased wages for all levels of business employees — a positive sign. Unfortunately, the rate of job growth across America’s businesses — small businesses … Continue reading “Despite Small Business Job Growth Slowing, Wages Are Increasing Across the Country”

Home contract work can be a great way to build a business or make money on the side, but it also comes with certain risks. Clients can hold even small errors against you, so it’s important that you safeguard yourself fully. Otherwise, your business could take a significant financial hit. “You have to protect yourself, because no one else will,”Michael Stone writes in Construction Programs and Results. “This means on every job, no matter how nice those clients are. You’ll never … Continue reading “How Home Contractors Can Protect Themselves From Financial Liability”