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Nitat Termmee | Moment | Getty ImagesHow to tell if you have qualified business incomeThe QBI deduction applies to so-called pass-through businesses, which report profits or losses on individual tax returns.This includes partnerships and S-corporations, along with some trusts and estates. Sole proprietors, such as freelance, contract and gig economy workers, also qualify.For 2025, the tax break starts to phaseout when taxable income reaches $197,300 for single filers and $394,600 for married taxpayers filing jointly. The deduction can be reduced or eliminated completely, depending on your earnings and type of business (more on that below).For tax year 2022, the most…

LAHORE: Pakistan displayed their clinical best as a team performance saw them thrash Bangladesh by 37 runs in the opening fixture of the three-match Twenty20 International series here at the Gaddafi Stadium on Wednesday. Captain Salman Ali Agha led by example with the bat as Pakistan posted 201-7 before pacer Hasan Ali (5-30) impressed on his international return with a five-wicket haul to help the hosts bundle Bangladesh out for 164. Vice-captain Shadab Khan, meanwhile, put up an all-round show. Salman had spoken of playing a brand of cricket that was “fearless but not careless” on the eve of the…

Washington CNN  —  Economists and top policymakers at the Federal Reserve see a growing risk of America’s job market weakening because of President Donald Trump’s erratic trade war, according to minutes from the central bank’s latest policy released Wednesday. “The labor market was expected to weaken substantially,” the minutes said, adding that Fed economists at the May 6-7 meeting also revised up their projections for inflation this year and lowered their expectations for economic growth. Fed policymakers also fretted over whether the labor market’s resilience could persist, especially if Trump continues with his haphazard on-again, off-again tariff regime. “Participants assessed…

CNN  —  Wall Street has been riding a historic roller coaster the past few months due to President Donald Trump’s on-again, off-again tariff threats. Now, investors are learning to take his words with a grain of salt — and a bit of salsa, too. That’s because there’s a new type of trade taking hold: TACO, short for Trump Always Chickens Out. In other words, don’t fret too much about Trump’s latest tariff threat and go on a selling spree, because eventually he’ll back down and a relief rally will ensue. Trump said he first learned of the term, coined by…

WASHINGTON, DC – SEPTEMBER 18: Federal Reserve Chairman Jerome Powell speaks during a news … More conference following the September meeting of the Federal Open Market Committee at the William McChesney Martin Jr. Federal Reserve Board Building on September 18, 2024 in Washington, DC. The Federal Reserve announced today that they will cut the central bank’s benchmark interest rate by 50 basis points to a new range of 4.75%-5%. (Photo by Anna Moneymaker/Getty Images)Getty Images The Consumer Price Index inflation report for May will be released on June 11. Inflation nowcasting from the Atlanta Federal Reserve estimates 0.12% headline monthly…

President Donald Trump departs the White House on May 22, 2025. Trump is traveling to his Trump National Golf Club in Virginia where he is holding a dinner for the top investors in his $TRUMP cryptocurrency. Kevin Dietsch | Getty Images News | Getty ImagesThe Trump administration on Wednesday relaxed barriers in 401(k) plans to buying cryptocurrency and related digital assets like NFTs and meme coins.The Labor Department rescinded guidance put in place by the Biden-era Labor Department in 2022 that aimed to safeguard 401(k) investors from such digital assets.At the time, the Biden labor officials cautioned employers to exercise…

Jamie Beaton has built a career helping students from around the world gain admission to Harvard University and other top-tier institutions.Now, days after the Trump administration banned Harvard from enrolling international students and stopped scheduling appointments for student visas, Beaton, co-founder and CEO of Crimson Education, a college consulting firm, is advising his clients to “ignore the chaos.” Getting into an Ivy League school like Harvard is a years-long process, Beaton said. For recently admitted applicants, current students and this year’s graduating class, he says, “remain steadfast in that goal.”And for Harvard hopefuls, particularly from abroad, there could even be a benefit to applying in the…

Jose Luis Pelaez Inc | DigitalVision | Getty ImagesIt’s officially “Maycember,” a term making the rounds on social media to sum up the chaos and high costs of May — which mimic those of December, minus the holiday cheer.Although May is typically a month of endings and new beginnings, inflation and social pressure have helped drive up the prices for many of the expenses that fall within its 31 days.From graduation gifts and prom attire to camp payments, dance recitals and sports tournaments, the gauntlet of events has left parents feeling particularly strained.Why ‘Maycember’ is ‘a storm of financial stress'”May…

South_agency | E+ | Getty ImagesSpending from foreign visitors to the U.S. is poised to fall by $8.5 billion this year as negative perceptions tied to trade and immigration policy lead overseas tourists to look elsewhere, according to a research note published by Oxford Economics.The spending decline, which works out to a drop of about 5% relative to last year, is a result of less foot traffic. International arrivals to the U.S. are expected to fall about 9% this year, Aran Ryan, director of industry studies at Tourism Economics, part of Oxford Economics, wrote in a research note last week.Businesses…

ISLAMABAD: Former Pakistan player Hameed-ul-Haq on Tuesday expressed his concerns over Pakistan Tennis Federation (PTF)’s decision to impose a six-month ban on Mohammad Shoaib over his unruly behaviour during a national event. The ban put the career of Pakistan’s top-ranked player Shoaib in jeopardy, Hameed lamented. It emerged that during the recently-concluded Federal Tennis Cup staged at the PTF Complex in Islamabad, Shoaib after a verbal argument with tennis players Talha and Huzaifa, scuffled with their father Amjad Niazi during which Shoaib was accused of hitting Amjad with a racket. Subsequently, the Islamabad Tennis Association after probing the matter took…