BHP reports FY24 copper production over 2M tonnes
Elevate Your Investing Strategy:
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
Should You Accelerate Income or Deductions Before 2026? What Tax Experts Say
When it comes to tax planning, timing can be everything, especially with major changes on the horizon. President Donald Trump's recent signing of the 'One Big Beautiful Bill' (OBBB) into law will usher in sweeping updates to the U.S. tax code starting in 2025 and 2026. These include a higher cap on state and local tax (SALT) deductions, new limitations on itemized deductions and some limited exemptions for tip and overtime income. Find Out: Read Next: 'Proper tax planning requires a thorough understanding of the current tax law and how it affects your financial picture,' said Brian Tullio, JD, a CFP at Fairway Wealth Management. 'The 'OBBB' brings a host of changes to various individual tax provisions, often with new phase-out or AGI (adjusted gross income) limitations.' We spoke with Tullio and Matt McKinney, senior director and tax expert at Source Advisors, to break down what's changing, who should act now and who might be better off waiting. What's Changing in 2025 and 2026? Several provisions of the bill are poised to be retroactive to 2025 or take effect in 2026, and they may drastically shift how Americans approach tax planning. McKinney said the bill introduces 'several permanent tax changes effective in 2025, including permanent 100% bonus depreciation starting for property acquired after Jan. 19, 2025; a permanent 20% qualified business income (QBI) deduction for pass-through business owners; [and] permanent research and experimental (R&E) expensing.' Other key provisions include: A new $40,000 cap on state and local tax (SALT) deductions, with a phase-out for incomes over $500,000 A deduction of up to $25,000 in tip income and $12,500 in overtime pay for taxpayers under $150,000 AGI A new limit on itemized deduction values, capped at a 35% benefit for high earners, starting in 2026 Your tax strategy depends on understanding when these provisions take effect, however. 'Shifting income between tax years must be timed accordingly to ensure the applicable changes in tax policy provide the targeted benefit,' Tullio said. Learn More: When Accelerating Deductions Makes Sense If you're planning major charitable contributions or medical procedures, you might want to act before the end of the year, Tullio urged. 'Waiting until 2026 to do so will erode the overall tax benefit of your contributions by roughly 2/37ths.' He also noted that speeding along some itemized deductions in 2025 may help offset the coming deduction limits for 2026. 'The itemized deductions with the largest potential value are charitable contributions and any major medical procedures to the extent those medical expenses exceed 7.5% of AGI.' If you're not sure you have charitable donations or medical expenses, look to buy a U.S.-made car for a tax break, Tullio said. 'Financing a new car that has a final assembly in the U.S. may also help, as up to $10,000 of interest is deductible for 2025.' When Deferring Income May Save You More In some cases, delaying income to 2026 may result in a better tax outcome, Tullio said. This applies especially to tip or overtime workers who stand to benefit from the new income exemptions. 'Delaying tip income or overtime compensation until 2026 will allow you to take advantage of new applicable deductions.' He also cautioned high earners: 'Accelerating too much income may result in a higher AGI, thereby disallowing the use of new deductions or credits.' Small-Business Owners: Time Your Moves Wisely If you run a businesse or are a self-employed taxpayer, you also have a unique planning opportunity, McKinney said. 'Taxpayers who could benefit from accelerating income before the 2026 tax year include those with research and experimental (R&D) costs,' he said, noting that 'small businesses under $31 million in gross receipts can take advantage of retroactive deduction options.' He also advised businesses to line up capital purchases and projects strategically for tax benefits: 'For clients planning industrial facilities, now is the moment to align construction timelines to secure 100% bonus treatment.' Avoid These Mistakes Not every timing tactic pays off, however. Tullio warned that while delaying income can help you qualify for deductions like the full SALT cap, '[I]t's also possible to miss out if you don't plan correctly or if the phase-out thresholds change.' This is where it's a good idea to turn to a tax professional or financial advisor early. 'Failing to do so may result in losing those tax savings forever,' Tullio said. What To Do Now With the BBB now signed into law, look into doing the following: Consider accelerating deductions like charitable gifts, medical expenses or vehicle interest in 2025. If eligible, consider deferring tip or overtime income to 2026. Business owners should evaluate capital projects and R&D expenses for bonus depreciation benefits. Run multiyear projections with a tax advisor to avoid AGI cliffs or deduction phaseouts. 'Proactive tax planning and multiyear modeling are critically important after new tax legislation passes,' Tullio said. 'The time of 'I will see when I file my return' has passed. At that point, you just have to live with those consequences.' Don't let yourself be caught by surprise by any of these changes — get ahead of them with the support of a financial professional or your own education. More From GOBankingRates Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on Should You Accelerate Income or Deductions Before 2026? What Tax Experts Say
Yahoo
2 minutes ago
- Yahoo
Everyone wants to be a bank now. Banks aren't happy about it.
A lot of companies that are not in the banking business are suddenly applying for new US banking charters, from automakers General Motors (GM) and Stellantis (STLA) to cryptocurrency firms Circle (CRCL) and Ripple ( Banks, not surprisingly, aren't happy about any of this. Their fear is that many of these new entrants are seeking novel, lighter-touch charters that would, in practice, let them offer banking services while bypassing some of the regulatory obligations that traditionally come with that business. "Banks don't oppose competition," Paige Pidano Paridon, co-head of regulatory affairs with the lobbying group Bank Policy Institute, said in an emailed statement. "They oppose a regulatory double standard that imposes more lenient regulations on a small group of market participants engaged in the same activities as a bank." The battle over who gets to be a bank is once again heating up in Washington, D.C., as the Trump administration reexamines a slew of regulations governing the financial services industry. The process is expected to result in looser rules for banks, but it could also mean a lower bar for newer entrants that want access to the regulated banking ecosystem. This past week, the Federal Deposit Insurance Corporation made it clear that it wants to make adjustments for these newer entrants as it released a request for information on its process for approving "industrial loan companies." The FDIC also rescinded a Biden administration proposal that would have heightened scrutiny of companies seeking such state-level charters. Automakers General Motors, Stellantis, and Nissan have all recently applied for ILCs, which would grant them the same FDIC deposit insurance coverage that traditional banks offer while allowing them to make loans and collect deposits. Their parent companies wouldn't have Federal Reserve supervision as traditional banks do. Learn more about high-yield savings accounts, money market accounts, and CD accounts. Banks and nonbanks have clashed before. Walmart (WMT) and Home Depot (HD) subsidiaries filed for deposit insurance coverage roughly two decades ago, which generated fierce pushback from mainstream lenders. In a March letter to the FDIC, banking lobbyists at the ICBA argued that "ownership of ILCs by automakers has a history of failure." The letter described the 2008 collapse and eventual federal bailout of financier GMAC, which is now known as Ally (ALLY). "ICBA has opposed the approval of all ILCs with commercial parent companies because they are risky, lack appropriate levels of prudential regulation and supervision at the holding company level, and harm consumers by creating companies with undue concentrations," ICBA wrote. Tim Spence, CEO of Cincinnati regional bank Fifth Third (FITB), told Yahoo Finance he believes these novel charters "have a role to play, provided that they stay limited purpose as opposed to being used to basically conduct the activities of a bank without actually having to comply with the same set of rules." 'Dangerous concentration' Many crypto and fintech companies are following a different regulatory path to the banking system than the automakers: They are instead seeking national trust banking charters with the Office of the Comptroller of the Currency (OCC). So far this year, at least 18 different businesses have applied for this kind of charter, which wouldn't allow a company to make loans or take deposits but would allow them to offer certain bank custody services. That is a 70% jump compared with the number of companies that applied over the same period during the Biden administration in 2024, according to the OCC. The list includes Circle, which issues the world's second-largest stablecoin and caught Wall Street's attention last month with its chart-topping IPO. Others include major crypto firm Ripple, British fintech Wise, and Fidelity Digital Assets, the crypto subsidiary of Fidelity Investments. Erebor, a digital bank startup backed by Silicon Valley billionaires Palmer Luckey and Peter Thiel, has also applied for a full-service national bank charter. "Applications of this sort pose unique challenges," the ICBA wrote in a July 10 letter to OCC Acting Comptroller of the Currency Rodney Hood. Along with violating the "separation of banking and commerce," creating conflicts of interest and "dangerous concentration," ICBA argued in the letter that granting these charters to crypto firms "unwisely extends the federal safety net to commercial interests." ICBA's letter to the OCC cited a US Government Accountability Office report on the resolution of two sizable bank failures of crypto-friendly regional banks — Silvergate and Signature — in the spring of 2023. The report identified the banks' exposure to the crypto world as a driver of their ultimate failure. For some of the new crypto applicants that deal with dollar-pegged stablecoins, getting a national trust bank charter fulfills a registration requirement within new legislation passed this week, known as the GENIUS Act, which sets rules for those digital assets. Read more: Can you buy crypto with a credit card? See the pros and cons. Because the legislation will open stablecoins to existing banks, there is reason to believe these firms also need the credibility of a charter if they want to compete for clients against mainstream banks. "Even in a world where we have this full-fledged OCC charter, we would still totally partner with banks," Circle head of strategy Dante Disparate said. Disparate said having a national trust bank charter would also make it easier for it to "harmonize" its various regulatory licenses in other countries. "It also allows for the contemplation of other potential activities in the future, those will be subject to the licensing itself with the OCC," Disparate added. Big banks are also preparing for what they expect to be wider spread use of stablecoins. JPMorgan CEO Jamie Dimon, a longtime skeptic of cryptocurrencies, said this past week that his bank needs to embrace stablecoins as a way to keep pace with payment rivals. Last month, JPMorgan announced plans to launch a so-called deposit token called JPMD that is somewhat like a stablecoin but available only to JPMorgan's institutional clients. "We're going to be involved in both JPMorgan deposit coin and stablecoins to understand it, to be good at it," Dimon said. He also made it clear he hasn't dropped his skepticism entirely: "I think they're real, but I don't know why you'd want to [use a] stablecoin as opposed to just payment." David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. His email is at Click here for in-depth analysis of the latest stock market news and events moving stock prices
Yahoo
30 minutes ago
- Yahoo
Evan Hafer Buys Handful Of Shares In BRC
Even if it's not a huge purchase, we think it was good to see that Evan Hafer, the Founder & Executive Chairman of BRC Inc. (NYSE:BRCC) recently shelled out US$100k to buy stock, at US$1.25 per share. Nevertheless, it only increased their shareholding by a minuscule percentage, and it wasn't a massive purchase by absolute value, either. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. BRC Insider Transactions Over The Last Year Notably, that recent purchase by Evan Hafer is the biggest insider purchase of BRC shares that we've seen in the last year. Even though the purchase was made at a significantly lower price than the recent price (US$1.63), we still think insider buying is a positive. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction! Check out our latest analysis for BRC BRC is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket. Insider Ownership Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. It appears that BRC insiders own 8.0% of the company, worth about US$14m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders. So What Do The BRC Insider Transactions Indicate? It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. But on the other hand, the company made a loss during the last year, which makes us a little cautious. When combined with notable insider ownership, these factors suggest BRC insiders are well aligned, and that they may think the share price is too low. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we found 1 warning sign for BRC that deserve your attention before buying any shares. But note: BRC may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
