Tag: Finance News
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Unemployment Benefits: A Guide to Navigating the Application Process
Losing your job unexpectedly can be overwhelming, but knowing the right steps to take can help you secure your situation. Here are some initial actions to consider after a layoff, with a focus on unemployment benefits, health insurance, and other potential benefits you may be eligible for Applying for unemployment benefits should be one of…
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California Legislature Considers Implementing New Tax on Short-Term Rentals to Address Affordable Housing Crisis
Sponsored by two Democratic state senators, Senate Bill 584 will be presented to the California legislature. A new tax proposal in California aims to tackle the state’s affordable housing crisis and assist low- and middle-income residents The bill calls for the implementation of an occupancy tax on short-term rentals, such as those offered through platforms…
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Oklahoma Teachers To Receive Up To $6,000 Pay Raises
Oklahoma teachers will receive up to $6,000 pay raises under an education package. Oklahoma Teachers To Expect Pay Raises Between $3,000 and $6,000 As Part of Education Package Oklahoma teachers are expected to receive pay raises between $3,000 and $6,000 under an education bill package to provide $500 million a year in aid for several…
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IRS Reminds Taxpayers of Home Energy Tax Credits for Energy Efficient Updates
The Internal Revenue Service (IRS) has issued a reminder to taxpayers that certain energy-efficient updates to their homes may qualify them for home energy tax credits. IRS reminds taxpayers of expanded home energy tax credits for energy-efficient improvements The Inflation Reduction Act of 2022 expanded the credit amounts and types of qualifying expenses. Taxpayers who…
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Virginia Senators Push to Allow Historic Tax Credits for Local School Renovations
Senators Tim Kaine and Mark Warner of Virginia are reintroducing the School Infrastructure Modernization Act, which aims to remove an obstacle in the federal tax code that prevents historic tax credits from being used to finance the renovation of local school buildings that will continue to be used as schools. Senators aim to remove obstacles…
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Louisiana Considers Tax Credit for Businesses That Hire High School Interns
Louisiana business owners may soon have a tax incentive to hire high school interns, according to a proposed bill. Louisiana proposes tax credit for hiring high school interns House Bill 637, authored by Rep. Buddy Mincey, R-Denham Springs, would allow employers to receive a state tax credit of up to $2,500 if they hire public…
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Santa Clara County Considers Guaranteed Basic Income Program for Former Inmates
The program’s financial feasibility will be discussed at the county’s budget meeting in June, and the logistics will be discussed in August. Santa Clara County officials are considering a guaranteed basic income program for former inmates to help them integrate back into society The advocates believe the program could decrease recidivism by providing a financial…
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Cook County’s Guaranteed Income Program Helps More Than 3,200 Low-Earning Families
The first-ever guaranteed income program in Cook County, Illinois, is now providing more than 3,200 families with a monthly direct payment. Cook County Promise Guaranteed Income Pilot Program The program provides monthly stipends of $500 for two years to low-earning households. The program is one of 130 similar guaranteed income pilot programs in 32 states…
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Ways to Afford Homes Despite High Mortgage Rates: Options for Buyers
For a home worth $250,000 with a 20% down payment, this would result in a monthly mortgage payment of over $1,600. Mortgage rates are on the rise, with Freddie Mac reporting an interest rate of 6.39% for a 30-year fixed-rate mortgage loan in the week ending May 4, 2023 However, there are still options available…
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Skipton Launches Deposit-Free Mortgage Aimed At Renters
While there are a few other no-deposit deals available, they all require the financial backing of friends or family. UK-based Skipton Building Society has launched a deposit-free mortgage aimed specifically at renters Skipton’s deal requires 12 months of on-time rental payments and a good credit history but does not need a guarantor. However, at 5.49%,…