Taxes

ECB experts: US tax law could erode Europe's tax base

Economists at the European Central Bank say that the U.S. corporate tax cut should lift the world's largest economy in the short term but could erode the tax base in European countries by intensifying global competition for lower rates.

UN agency: US tax reform could cut investment elsewhere

The U.N.'s trade and development agency says multinational companies could use U.S. President Donald Trump's tax reform to return $2 trillion to the United States, leading to "sharp reductions" in foreign direct investment worldwide.

Billionaire takes a property tax stand over pooping geese

Billionaire Tom Golisano says he tried stringing up fishing line, spraying smelly repellent and even posting a wolf decoy, but nothing could rid his lakeside vacation home of the Canada geese that turned his lawn into a minefield of poop.

Ryan tweets about a $1.50 paycheck boost, then deletes it

House Speaker Paul Ryan has highlighted on Twitter a school secretary benefiting from the Republican tax overhaul, then deleted the tweet after online criticism that he is cheering an increase of $1.50 a week.

Best Buy to hand out bonuses to workers

Best Buy Co., the nation's largest consumer electronics retailer, says it will be handing out bonuses to more than 100,000 employees, joining a list of companies sharing a portion of their windfall from the corporate tax reform law with employees.

Business Highlights

___ Dow industrials drop 600 points, extending a weeklong slump NEW YORK (AP) — U.S. stocks slumped Friday, pulling the Dow Jones industrial average down more than 650 points and handing the market its worst week in two years.

New tax law boosts paychecks but complicates budget outlook

Taxpayers are starting to see bigger paychecks because of President Donald Trump and congressional Republican's $1.5 trillion tax plan, yet the sweeping overhaul is emerging as a hurdle for New Jersey Gov. Phil Murphy as he assembles his first budget.

Tax season tips for independent contractors, freelancers

Gig economy workers aren’t expected to see a major benefit from recent GOP-backed tax reform until next year, but independent contractors can still help their cause this tax season by being diligent about their business expenses.

When to claim children as dependents on your taxes

Updated 01/01/18 to reflect new amounts for 2017 tax season Parents with young adult children face a complicated decision when it comes to filing their taxes: should they be claimed as dependents?

Trump warns of immigration peril, touts economy in address

President Donald Trump will herald a robust economy and push for bipartisan congressional action on immigration in Tuesday's State of the Union address, as he seeks to rally a deeply divided nation and boost his own sagging standing with Americans.

The Latest: Trump speech leads to 4.5 million tweets

The Latest on President Donald Trump's State of the Union speech (all times local): 12:18 p.m. President Donald Trump's top economic and national security advisers help with his State of the Union address.

Tax cuts before Christmas: Sen. Chuck Grassley to FOX Business

While a vote on the Senate’s newly released health care bill has been delayed due to Sen. John McCain’s unexpected absence, the White House continues to work behind the scenes with Congress on a tax reform overhaul—something Americans should expect to see by Christmas, according to one senator.