Archives for December 2010
What will the big new tax law mean for you?
WASHINGTON (AP) — It's the most significant new tax law in a decade, but what does it mean for you? Big savings for millions of taxpayers, more if you have young children or attend college, a lot more if you're wealthy. The package, being signed Friday by President Barack Obama, will save taxpayers, on average, nearly $3,000 next year. But many families will be able to save much more by taking advantage of tax breaks for being married, having children, paying for child care, going to college or investing in securities. There are even tax breaks for paying local sales…
Tax Breaks Bring Hope for Hiring
To many manufacturing companies, the tax cut proposal now being considered in Washington may be just enough to spur additional spending and hiring. At Yushin America, a Rhode Island company that makes and maintains robotic manufacturing equipment, executives say that the business tax breaks would allow them to invest in new machinery, new employees and even a new roof. “It’s a chance for us to put it back in the business and grow,” said Michael Greenhalgh, operations manager of the company in Cranston, which employs 60 people and has annual sales of about $21 million. Tax cuts intended for businesses…
Consumer sentiment up more than expected early December
NEW YORK (Reuters) - U.S. consumer sentiment rose more than expected in early December while an index of current conditions jumped to its highest level since January 2008, a survey released on Friday showed. The Thomson Reuters/University of Michigan's preliminary December reading on the overall index on consumer sentiment came in at 74.2, up from 71.6 in November. That was the best level for sentiment since June and the third-highest level since the start of 2008, according to the survey. It was also above the median forecast of 72.5 among economists polled by Reuters. At the same time, the survey's…
La. business climate No. 9 in U.S.
Louisiana’s 2010 business climate is ranked ninth in the country by “Site Selection” magazine. The ranking moves the state up from 25th place in 2009, giving Louisiana the strongest surge compared to any other state in the listing. “This terrific news is a reflection of Louisiana’s continued economic progress during a difficult national economic period,” said Louisiana Economic Development Secretary Stephen Moret in a statement. “Our dramatically improved ranking is in large part the result of recent economic competitiveness improvements in Louisiana, such as business tax cuts, governmental ethics reform, the creation of Louisiana FastStart and our focus on business…