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Rechler: LI’s continued economic growth requires industrial space

In Business, Emerging Technology, Events, Finance, Government, Healthcare, Science & Nature by Long Island Business NewsLeave a Comment

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Long Island’s economy is thriving and the lack of available industrial properties tells this story. Businesses are moving east at an exponential pace in search of the next available and affordable source of industrial space. Much like our grandfather did 60 years ago, my cousin Gregg and I see the potential for economic prosperity in parts of Long Island where others might not. The East End is primed to be the next frontier for industrial businesses, and we are working vigorously to stay ahead of the curve. The Hampton Business District, where we recently brok... Read More
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US growth in Jan.-March upgraded to still-slow 1.2 pct. rate

In Business, Emerging Technology, Finance, Government by Long Island Business NewsLeave a Comment

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The U.S. economy began 2017 with a whimper — though not quite as weak a whimper as the government had first estimated. The gross domestic product — the broadest gauge of the economy — expanded in the January-March quarter at a 1.2 percent annual rate, the government said Friday. That was better than its initial estimate of a 0.7 percent rate but far below President Donald Trump’s growth targets, which most economists consider unrealistic. The government’s upgraded estimate of first-quarter growth reflected new-found strength in consumer spending, business investment and state and local government spending. Many analysts have estimated that growth in the current April-June quarter is rebounding to an annual ... Read More
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Poll: Most older Americans want Medicare for long-term care

In Business, Emerging Technology, Government, Healthcare, Legal by Long Island Business NewsLeave a Comment

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A growing number of Americans age 40 and older think Medicare should cover the costs of long-term care for older adults, according to a poll conducted by the Associated Press-NORC Center for Public Affairs Research. That option is unlikely to gain much traction as President Donald Trump’s administration and Republicans in Congress look to cut the federal budget and repeal President Barack Obama’s 2010 health care law. Most older Americans mistakenly believe they can rely on Medicare already for such care, the poll shows, while few have done much planning for their own long-term care. Things to know from the AP-NORC poll of older adults: MOST WANT MEDICARE TO PAY More than half of older Americans —56 pe... Read More
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The Republicans’ War on Medicaid

In Business, Education, Finance, Government, Healthcare, Legal by New YorkerLeave a Comment

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... Read More
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Stripe now lets marketplaces onboard new sellers in less than 2 minutes

In Business, Government, Start Up by Venture BeatLeave a Comment

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Stripe, the fast-growing fintech startup that’s now worth around $9 billion, has announced that it’s making it easier for marketplace companies to onboard new sellers. Founded in 2010 by Irish brothers Patrick and John Collison, Stripe provides the technical and banking infrastructure to enable companies and individuals to accept online payments. With Stripe Connect, which ... Read More
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Sanders: Rich Get Richer Under Trump Budget Plan

In Business, Government, Video by Associated PressLeave a Comment

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Vermont Senator Bernie Sanders challenged President Donald Trump's proposed budget for next year, saying it slashes programs for needy Americans across the country, while giving massive tax breaks to the wealthy. (May 25)Subscribe for more Breaking News: http://smarturl.it/AssociatedPressGet updates and more Breaking News here: ... Read More
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Best Buy: Shoppers take advantage of tax refund checks

In Business, Emerging Technology, Government, Mobile Technology by Long Island Business NewsLeave a Comment

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Best Buy had better-than-expected sales of mobile devices and strong sales of gaming products during the first quarter, after the delayed arrival of federal tax refund checks put Americans in the mood to buy stuff. Shares surged nearly 17 percent Thursday to levels not seen since before the recession and the emerging dominance of Amazon.com. For the three months that ended April 29, Best Buy Co.’s revenue climbed to $8.53 billion from $8.44 billion. That’s better than the $8.26 billion analysts expected, according to a poll by Zacks Investment Research. Online sales jumped 22.5 percent domestically. “Compared to our expectations going into the quarter, our revenue was higher due to strong performance in gaming,... Read More
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A Proposed New Tax, Mainly On Latinos, To Pay For Trump’s Border Wall

In Business, Education, Government, Legal by National Public RadioLeave a Comment

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One of Donald Trump's boldest, most ambitious proposals on the campaign trail was to build a wall along the southern border and get Mexico to pay for it. Amid the tumult of Trump's first few months in office, the border wall hasn't gotten as much attention as some other things. But new legislation has been introduced in Congress to help fund it. It's called "The Border Wall Funding Act of 2017," introduced on March 30 by Rep. Mike Rogers, R-Ala. And it would put a 2 percent tax on all person-to-person wire transfers to Mexico, the rest of Latin America and the Caribbean. It's not the on... Read More
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Spanish court upholds Messi’s tax fraud sentence

In Business, Legal, Video by NewsyLeave a Comment

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Soccer star Lionel Messi lost his appeal against tax fraud charges in Spain. He hid millions of euro in offshore tax havens from 2007 to 2009.Learn more about this story at www.newsy.com/69416/Find more videos like this at www.newsy.comFollow Newsy on Facebook: www.facebook.com/newsyvideosFollow Newsy on Twitter: www.twitter.com/newsyvideos... Read More
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Rep. Renacci: We have to get a balanced budget

In Business, Government, Video by Fox Business NewsLeave a Comment

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Published on May 24, 2017Rep. Jim Renacci (R-Ohio) on the divide between Democrats and Republicans over Trump’s budget plan and the border adjustment tax. Category License Standard YouTube License ... Read More
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Will the White House budget plan create growth?

In Video by Fox Business NewsLeave a Comment

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Published on May 24, 2017Former Reagan Economic Advisor Art Laffer and CATO Director of Tax Policy Studies Chris Edwards on the key spending growth cuts in the White House budget. Category License Standard YouTube License ... Read More
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CPA pleads guilty in $750K embezzlement scheme

In Business, Education, Emerging Technology, Government by Long Island Business NewsLeave a Comment

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An accountant living in Oceanside pleaded guilty in Central Islip Federal Court Monday in a $750,000 embezzlement scheme, authorities said. Dennis Stamm, a certified public accountant and partner at Stamm & Bader, a New York-based accounting firm, embezzled payroll taxes from two clients, both of them non-profit schools for children with special needs, according to the U.S. Attorney’s Office. The money was diverted to pay tax obligations for Stamm’s non-profit, Long Island Infant Development Program. Officials say that between 2009 and 2013, the schools provided Stamm with $758,280 to pay quarterly payroll taxes to the IRS. Stamm then embezzled that money for personal use and to pay tax liabilities for the LIIDP.... Read More
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Democrats can change the narrative, but can’t change the facts: Herman Cain

In Business, Government, Video by Fox Business NewsLeave a Comment

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Published on May 24, 2017Former Republican presidential candidate Herman Cain on President Trump's overseas trip, his tax reform plan and the fight against terrorism. Category License Standard YouTube License ... Read More
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Dobbs on Paul Ryan’s push for a border adjustment tax

In Video by Fox Business NewsLeave a Comment

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FBN’s Lou Dobbs on House Speaker Paul Ryan’s tax agenda.... Read More
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Trump administration sending Congress $4.1 trillion budget

In Business, Emerging Technology, Finance, Government, Healthcare, Legal, Security by Long Island Business NewsLeave a Comment

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President Donald Trump Tuesday is unveiling a $4.1 trillion spending plan that relies on faster economic growth and steep cuts to programs for the poor in a bid to balance the government’s books over the next decade. The proposed 2018 budget was already under attack by Democrats and even some of GOP allies declared it dead on arrival. The proposal is laced with cuts to domestic agencies, food stamps, Medicaid, highway funding and medical research. “It’ll face a tough sled here,” said veteran Rep. Harold Rogers, R-Ky. The Senate’s No. 2 Republican, John Cornyn of Texas, said the Trump plan joins a tradition of White House budgets that are “basically dead on arrival.” The proposal projects that this year... Read More
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Uber pushes for LI green light

In Emerging Technology, Government, Security by Long Island Business NewsLeave a Comment

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Ride sharing company Uber is accelerating its efforts to get more drivers ready to roll after state legislation set the stage for the company and other similar firms to operate more widely. But it’s unclear whether Nassau and Suffolk will each give the firm the greenlight to operate, or opt out and put roadblocks to stop the spread of ride sharing. The New York State Legislature passed and Gov. Andrew Cuomo signed a bill that would impose a 4 percent tax and a 2.5 percent worker’s compensation fee on ridesharing services like Uber and Lyft across the state as soon as mid-July. This would make New York State the first to impose a worker’s compensation provision ... Read More
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What should you do with your tax refund check?

In Business, Mobile Technology, Video by CBS NewsLeave a Comment

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The average tax refund in the United States is about $2,700. But you might want to think twice before rushing out to spend it right away.Subscribe to the "CBSN" Channel HERE: http://bit.ly/1Re2MgSWatch "CBSN" live HERE: http://cbsn.ws/1PlLpZ7Follow "CBSN" on Instagram HERE: http://bit.ly/1PO0dkxLike "CBSN" on Facebook HERE: ... Read More
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The trick to a successful company? Start it outside Silicon Valley

In Business, Education, Government, Science & Nature, Start Up by Venture BeatLeave a Comment

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There’s a startup renaissance underway — and it’s not happening in Silicon Valley. Or New York, Boston, Los Angeles, or any of the usual destinations for entrepreneurs with big ideas. From Lincoln to Phoenix to Madison, thriving startup ecosystems have emerged in the traditionally overlooked “flyover” states to challenge the “Silicon Valley or bust” narrative. These days, entrepreneurs routinely bypass Silicon Valley’s rising costs and competition in favor of friendlier environments and steady, sustained regional growth in the Midwest, South, and Heartland before looking to the Valley to scale. This strategy paid huge dividends last month for Chewy.com, an online pet store that was ... Read More
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Wynne: Tax crime arrests are a warning for all non-filers

In Emerging Technology, Finance, Gaming, Government, Legal by Long Island Business NewsLeave a Comment

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April was a busy month for the Nassau County District Attorney’s office and the state Department of Taxation and Finance, as evidenced by a trio of tax crime arrests that should serve as a warning for all New Yorkers who have failed to file or pay their taxes. On April 3, Steven Ballin, a CPA from East Rockaway, was charged with failing to pay more than $91,000 in personal income taxes during the last five years.  On April 6, Muttontown Mayor Julianne Beckerman was charged with failing to file tax returns for five years. Then, on April 19-20, the current and form... Read More
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Empire State Dev. comes up short on reports

In Emerging Technology, Government, Legal by Long Island Business NewsLeave a Comment

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The Empire State Development Corp., New York State’s chief economic development agency, failed to provide more than half of the information required to gauge the outcomes of programs, according to a New York State audit. Comptroller Thomas DiNapoli said an audit found the agency failed to provide many reports that it said were required for tax credit and job creation programs. That resulted in a pattern of “diminishing transparency and accountability,” DiNapoli said in a written statement. The agency contested the conclusions, indicating that it provides many hundreds of pages in reports annually, that some programs were dormant ... Read More
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The Best Kids Craft Subscription Boxes

In Business, Education, Gaming, Government, Legal, Science & Nature by Wire CutterLeave a Comment

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Our pick Koala Crate Bright, fun projects and more original ideas make this the best pick for kids 3 to 5, who are developing their creativity and fine motor skills. ... Read More
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The best way to handle your tax refund

In Business, Finance, Government, Mobile Technology, Video by CBS NewsLeave a Comment

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GameChanger Stocks founder Hilary Kramer has the best financial tips for taxpayers who received a refund.Subscribe to the "CBSN" Channel HERE: http://bit.ly/1Re2MgSWatch "CBSN" live HERE: http://cbsn.ws/1PlLpZ7Follow "CBSN" on Instagram HERE: http://bit.ly/1PO0dkxLike "CBSN" on Facebook HERE: ... Read More
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European directors call on U.S. internet giants to help finance more films

In Business, Events, Finance, Government, Legal, Science & Nature by Venture BeatLeave a Comment

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In the face of continued disruption of creative markets, a list of more than 80 notable European directors issued a call today at the Cannes International Film Festival for “internet giants” to invest more in the region’s film scene. Cannes has already been swirling with controversy this year due to the inclusion of two Netflix original films that had not previously been screened in movie theaters. This stoked ... Read More
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NJ Assembly Votes To Tax Fantasy Sports Providers

In Gaming, Video by CBS New YorkLeave a Comment

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Published on May 22, 2017The New Jersey Assembly is voting on legislation to regulate and tax daily fantasy sports providers. CBS2 reports. Category News & Politics License ... Read More
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Bernanke: We don’t need extra spending, we need fiscal reform

In Finance, Government, Video by Fox Business NewsLeave a Comment

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Former Federal Reserve Chairman Ben Bernanke on infrastructure, tax reform and the U.S. debt.... Read More
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Trump attorney didn’t want him to sign financial disclosure

In Business, Emerging Technology, Finance, Government, Legal by Long Island Business NewsLeave a Comment

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President Donald Trump’s attorneys initially wanted him to submit an updated financial disclosure without certifying the information as true, according to correspondence with the Office of Government Ethics. Attorney Sheri Dillon said she saw no need for Trump to sign his 2016 personal financial disclosure because he is filing voluntarily this year. But OGE director Walter Shaub said his office would only work with Dillon if she agreed to follow the typical process of having Trump make the certification. The Associated Press obtained the letters under a Freedom of Information Act request. Trump led his family’s private company until becoming president, and even ... Read More
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Trump’s overseas trip will ease turmoil in Washington: Rep. Gohmert

In Business, Government, Video by Fox Business NewsLeave a Comment

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Published on May 19, 2017House Freedom Caucus member Rep. Louie Gohmert (R-Texas) weighs in on President Trump’s first foreign trip and the administration’s tax cut plan. Category License Standard YouTube License ... Read More
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Republican Reform Proposals Could Threaten Future Of Tax Abatements

In Business, Government by National Public RadioLeave a Comment

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As he built up his real estate empire, Donald Trump frequently used tax abatements. In fact, projects like the Grand Hyatt and Trump Tower probably wouldn't have been built without them. Now as Republicans begin to work on a tax overhaul, the future of such programs is up in the air. ... Read More
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Will Congress pass Trump’s agenda within the year?

In Business, Government, Video by Fox Business NewsLeave a Comment

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Published on May 18, 2017Rasmussen Reports’ Amy Holmes, Wall Street Journal’s Glenn Hall and Rosecliff CEO Mike Murphy discuss the growing fears that President Trump’s tax reform will be delayed amid Russia probe. Category License Standard YouTube License ... Read More
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US stock indexes edge higher in afternoon trading; oil down

In Business, Emerging Technology, Finance, Government, Healthcare by Long Island Business NewsLeave a Comment

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Phone companies led U.S. stock indexes modestly higher in early afternoon trading Thursday, a day after the market posted its biggest loss in eight months. Real estate and materials stocks declined. Investors were weighing quarterly results from Wal-Mart Stores and other big retailers. KEEPING SCORE: The Standard & Poor’s 500 index rose 5 points, or 0.3 percent, to 2,362 as of 12:29 p.m. Eastern Time. The Dow Jones industrial average added 30 points, or 0.2 percent, to 20,637. The Nasdaq composite index gained 28 points, or 0.5 percent, to 6,040. The Russell 2000 index of smaller stocks was up 1 point, or 0.1 percent, to 1,357. EYES ON WASHINGTON: The stock market was coming off its worst day since September. The slid... Read More
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Business leaders to Congress: Ignore chaos, focus on taxes

In Business, Emerging Technology, Finance, Government, Legal by Long Island Business NewsLeave a Comment

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Business leaders began an aggressive lobbying effort Thursday to ensure that their vision for overhauling the U.S. tax system isn’t lost in the chaos consuming President Donald Trump’s administration. The Koch brothers’ political network announced it is preparing to spend millions of dollars to promote a tax overhaul. That word came as a handful of business executives told a congressional committee that the current tax system makes U.S. companies uncompetitive. “We no longer live in a world where the U.S. can set a corporate tax rate without considering what our international competition looks like,” John Stephen, AT&T’s chief financial officer told the House Ways and Means Committee. “Countries are vig... Read More
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Anti-austerity strikes: Greeks struggle against new bailout package

In Business, Video by RTLeave a Comment

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The latest nationwide strike in Greece continues to cripple services - and coincides with MPs preparing to vote on a new austerity package. This will include at least an 86-billion-euro bailout package, a staggering thirteenth pensions cut since 2010, a reduction to income tax-free allowances. With unemployment at 25-percent and nearly a half of young people in Greece out of work protests in Athens turned violent on Wednesday, on the eve of the vote.RT LIVE htt... Read More
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US stocks open slightly higher Thursday

In Business, Emerging Technology, Finance, Government by Long Island Business NewsLeave a Comment

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Stocks are modestly higher in early trading on Wall Street as traders were relieved to see some positive results from retailers. Wal-Mart Stores, L Brands and Ralph Lauren all rose early Thursday after reporting better results than analysts were expecting. The slight gains came a day after the market had its worst drop since September as deepening political tumult in Washing got investors worried that President Donald Trump will have trouble enacting tax cuts and other business-friendly policies. The Standard & Poor’s 500 rose 1 point to 2,358. The Dow Jones industrial average was little changed at 20,608. The Nasdaq gained 10 points to 6,022. Small-company stocks fell. ... Read More
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Will the special counsel distract from the Republican agenda?

In Government, Healthcare, Video by Fox Business NewsLeave a Comment

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Published on May 18, 2017Rep. Ron DeSantis (R-Fla.) on the Department of Justice's appointment of Robert Mueller as special counsel and the state of health care and tax reform. Category License Standard YouTube License ... Read More
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GOP continues to work on tax reform: Rep. Gohmert

In Business, Government, Legal, Video by Fox Business NewsLeave a Comment

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Published on May 17, 2017Rep. Louie Gohmert (R-Texas) on the growing concerns from Republican lawmakers that the GOP agenda is at risk following a series of controversies surrounding the Trump administration. Category License Standard YouTube License ... Read More
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Stocks fall sharply Wednesday, worst since September

In Business, Emerging Technology, Finance, Government by Long Island Business NewsLeave a Comment

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Stocks fell sharply as investors worried that the latest turmoil in Washington could hinder President Donald Trump’s pro-business agenda. The steep drop Wednesday was the market’s worst since September and ended an unusually long period of calm. Banks, which soared in the months since the election, slumped. Bank of America lost 5.9 percent. Bonds, utilities and gold rose as traders shunned riskier assets. The dollar fell. The Standard & Poor’s 500 dropped 43 points, or 1.8 percent, to 2,357. The Dow Jones industrial average lost 372 points, or 1.8 percent, to 20,606. The Nasdaq fell 158 points, or 2.6 percent, to 6,011, a day after its latest record high. Small-company stocks, which wou... Read More
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FBN learns what GOP & Democrats at Mnuchin, Cohn meeting on Hill

In Finance, Video by Fox Business NewsLeave a Comment

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Published on May 17, 2017Sources tell FBN’s Adam Shapiro that Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn had a private meeting today with members of the Senate Finance Committee to discuss tax reform. Category License Standard YouTube Lic... Read More
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Bill Gross: Tax cuts & repatriation definitely be delayed

In Business, Video by Fox Business NewsLeave a Comment

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Published on May 17, 2017Legendary investor and Janus Capital Portfolio Manager Bill Gross discusses what is behind Wall Street’s selloff and the GOP agenda is affected by the current turmoil in Washington D.C. Category License Standard YouTube License ... Read More
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Romaine seeks probe of Clare Rose IDA benefits

In Education, Emerging Technology, Legal by Long Island Business NewsLeave a Comment

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Brookhaven Town Supervisor Ed Romaine wants the Brookhaven Industrial Development Agency to review its benefit package for beverage distributor Clare Rose, to see if the company has violated its agreement with the agency. Union workers at Clare Rose walked off their jobs in April over a threatened wage cut and a proposed switch from a company pension plan to a 401K retirement plan. Since then, Clare Rose has begun hiring new full-time employees to replace some of the striking workers. Romaine sent a letter Wednesday to Fred Braun, the chairman of the Brookhaven IDA, criticizing Clare Rose for not living up to the spirit of its IDA agreement. Specifically, Romaine said the company used a Kentucky-based firm, Gray Constructio... Read More
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Puerto Rico Embarks On Historically Huge Debt Protection Hearings

In Business, Education, Government, Healthcare, Legal by National Public RadioLeave a Comment

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Enlarge this image A mural displays notable historical figures and a fading Puerto Rican flag on a dilapidated building in San Juan earlier this month. Between its public-sector debt an... Read More
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3 growth activities that can be life (and tax) changing

In Business, Finance, Government, Legal by Venture BeatLeave a Comment

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Presented by Avalara Growth strategies can vary widely among companies and industries. The catalyst to growth, or in some cases the outcome of growth, is an influx of new funding, intellectual or physical property, or technical capability resulting from financing events, mergers, and acquisitions, and even changes or upgrades to technology platforms. During these dynamic change events, tax compliance often takes a backseat to other priorities. But it shouldn’t. Company growth can vastly change your sales tax nexus footprint (the obligation to collect sales tax in a state based on sales activities in that state). Having a reliable, scalable plan in place to deal with any new tax obligations that result... Read More
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State issues $24M bonds for Stony Brook dorm

In Education, Emerging Technology, Government by Long Island Business NewsLeave a Comment

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The Dormitory Authority of the State of New York and the State University of New York have issued $24 million in low-cost, tax-exempt bonds to help pay for a Stony Brook University residence hall. The bonds will be used to help fund Stony Brook’s recently completed Toll Drive dormitory, providing 759 additional beds and a 60,000 square-foot dining facility. ... Read More
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3 reasons AI isn’t ready to replace human sales reps just yet

In Business, Education, Emerging Technology, Government, Science & Nature, Security by Venture BeatLeave a Comment

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According to a study by Oracle, almost 80 percent of businesses have already implemented or are planning to adopt AI as a customer service solution by 2020, and a recent report by Deloitte and Oxford University suggests telesales could be the next to go. Other experts are ambivalent about whether AI is really advanced enough to take over the role of a talented sales representative. AI i... Read More
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Dick’s is feeling the retail burn, shares tumble

In Business, Emerging Technology by Long Island Business NewsLeave a Comment

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Dick’s Sporting Goods joined the banged up first-quarter retail roster, putting up sales numbers that sent shares hurtling 12 percent lower early Tuesday. Sales rose 2.4 percent at established stores, a bad sign for industry analysts that had projected a 3.5 percent rise, according to FactSet. Macy’s, Nordstrom and other traditional retail stores have been hammered during the quarter, feeling pressure from online rivals. Dick’s said Tuesday that it revamped its website earlier this year and sales there have improved. Net income was $58.2 million, or 52 cents per share, in the three months ending April 29, compared with $56.9 million, or 50 cents per share, in the same quarter a year ago. Earnings, adjust... Read More
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Collins: Purchase prices and the role of ‘earnouts’ in business deals

In Business, Emerging Technology, Government, Security by Long Island Business NewsLeave a Comment

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Last month I addressed the question, “How much is my business worth,” discussing valuation methodologies and a range of financial and non-financial factors that drive enterprise value.  Selling a business means selling a going concern – where the value lies in the business’s ability to produce profits in the future in the context of the many risks and opportunities associated with achieving those financial projections. The experience of selling (or buying) a house is straightforward: find a buyer; agree on a price; have an inspection; go to c... Read More
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Can President Trump turn focus back to taxes, health care?

In Business, Government, Healthcare, Video by Fox Business NewsLeave a Comment

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Moneymorning.com Chief Investment Strategist Keith Fitzgerald, Independent Women’s Forum Senior Fellow Gayle Trotter and Conservative Review’s Deneen Borelli weigh in on the growing concern that President Trump’s health care reform and tax cuts could be delayed.... Read More
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Bitcoin sale profit is taxable capital gains for investor

In Business, Government, Legal by Gadget SnowLeave a Comment

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MUMBAI: India is not isolated from the rising popularity of Bitcoins, which got a boost post-demonetisation. According to industry sources, nearly 300-plus enthusiasts of the cryptocurrency trade daily on Indian Bitcoin exchange platforms. Most of these platforms boast of user registrations of more than a lakh. Thus, many taxpayers in India need to understand the I-T nuances of their Bitcoin transactions.Curiosity prompted Rakesh M, a Bengaluru-based techie (identity changed), to make his first investment in Bitcoins. He sold his investment during the financial year 2016-17 (year ending March 31, 2017) and earned a profit.The perplexing issue for him is: How should he treat ... Read More