Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.
IRS unveils new federal income tax brackets for 2025
The IRS on Oct. 22 unveiled the new federal income tax brackets for 2025. Every bracket was changed, including the top one.
Large private companies strengthen communities across America
Research shows how large private companies create millions of jobs and support local economies nationwide. Many of the brands, stores, products, and services consumers rely on for everyday life are made possible by large private companies. These businesses are pillars of the American economy, shaping communities, creating jobs, and driving innovation.
The $1.3 trillion question we may never answer
Despite what a new HBO documentary suggests, the identity of one of the richest people in the world is still unknown. By now, the story is so famous it’s taken on the aura of a creation myth: One day in early 2009, Satoshi Nakamoto, the pseudonym used by the inventor of bitcoin, released the world’s first cryptocurrency
What America’s small businesses have to say about 2024 (and what they expect in 2025)
Small businesses employ about half of the workers in this country and generate nearly half of the nation’s gross domestic product. These owners — and their employees — are a massive voting bloc. So with the election only a couple of weeks away, what’s their state of mind?
Boeing strike barrels on as workers reject wage deal
Boeing factory workers voted to reject a contract offer and continue a more than five-week strike on Wednesday, in a blow to new CEO Kelly Ortberg’s plan to shore up the finances of the struggling planemaker.
Beige Book
The October 2024 Beige Book has been published by the Federal Reserve, giving an overview of economic conditions around the country.
US firms point to steady economy but see lower profit margins, Fed says
U.S. economic activity was little changed from September through early October and firms saw a slight uptick in hiring, continuing recent trends that have reinforced expectations the Federal Reserve will opt for a smaller 25-basis-point reduction in borrowing costs in two weeks.
After the election: What’s next in tax
The 2024 elections are nearly upon us, with the fate of the tax world hanging in the balance. Of course, other important issues loom as well, including open borders, crime, inflation, and conflicts in Europe and the Middle East, as well as the style and personality of the candidates themselves. But for tax nerds, these are eclipsed by the positions offered by the candidates on taxation.
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