Tag: Tax Planning

Shaquille O’Neal will be paying seven figures to settle the class-action lawsuit against FTX that also named other high-profile athletes. O’Neal will pay $1.8 million after he was accused of touting the since-defunct cryptocurrency as a reputable and trustworthy investment option via paid endorsements. Legendary NFL quarterback Tom Brady and NBA star Stephen Curry, as […] ...

President Donald Trump issued an executive order on Friday approving U.S. Steel’s merger with Japan’s Nippon Steel through a National Security Agreement (NSA).  The NSA includes a commitment to more than $11 billion in new steelmaking investments in the United States by 2028 and the creation of more than 100,000 jobs.  The deal also gives […] ...

Businesswoman and former “Real Housewives of New York” star Bethenny Frankel sold the home she owned in Connecticut. The property, a roughly 3-acre estate known as “Applejack Farm” in the Greenwich area, fetched $7.825 million in a recent transaction. Corcoran Centric Realty’s Jeff Jackson represented Frankel, while Martha Jeffrey and Anne Oglivy of Sotheby’s International […] ...

Richard Simmons’ Los Angeles home is on the market.  According to The Robb Report, the late fitness instructor and TV personality purchased the Hollywood Hills home in the early 80s, and spent much of his time there after retreating from public life in 2014. He lived in the home until his death in July 2024 […] ...

The U.S. Army announced that it has surpassed its fiscal year 2025 recruiting goals four months ahead of schedule following years of falling short of its quota.  The milestone marks a potential turning point in one of the military’s most persistent challenges: recruitment. Last week, the Army announced that it had signed contracts with more […] ...

The White House directed the Defense Department and NASA earlier this month to collect information on billions of dollars in SpaceX contracts after the public spat between President Donald Trump and SpaceX CEO Elon Musk, according to a report. The Trump administration ordered the agencies to scrutinize Musk’s contracts to prepare for possible retaliation against […] ...

A recall of certain cases of Floria Dried Apricots is underway due to their packaging not disclosing the fruit contains sulfites.  Turkana Food Inc. issued a recall for 352 cases of the dried fruit Thursday through an announcement published on the Food and Drug Administration’s (FDA) website.  The dried apricots have 200-gram paper packaging. The […] ...

JetZero is making a significant investment in North Carolina as the company plans to construct a factory in Greensboro to produce its blended-wing-body jets there in the future. JetZero’s investment in Greensboro to build the airplane factory will amount to more than $4.7 billion and bring over 14,500 jobs to the area over time, Gov. […] ...

Foreign nationals with an extra $5 million can now register to be notified about when they can sign up to receive a fast pass to U.S. citizenship, also known as the “Trump Card.” President Donald Trump shared information about the program on Truth Social Wednesday night. “FOR FIVE MILLION $DOLLARS, THE TRUMP CARD IS COMING!” […] ...

  Investors flocked to safer assets, including gold and out of U.S. stocks, after Israel launched attacks against Iran’s nuclear sites.  All three of the major U.S. averages fell Friday, erasing weekly gains, with the Dow Jones Industrial Average off over 500 points or 1%, while the Nasdaq Composite and S&P 500 lost 0.6% mid-afternoon. […] ...

Frozen meal giant Conagra Brands, Inc. is trying to capture budget-conscious shoppers opting for convenient and healthier options by launching dozens of new frozen foods this month.  The frozen food meals, including single-serve and multi-serve meals, vegetable side dishes, and gluten-free and plant-based meals, are slated to arrive in stores and e-commerce outlets in June […] ...

Mortgage rates declined for the first time in weeks, though they are still hovering near 7%, mortgage buyer Freddie Mac said Thursday. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage fell to 6.84% from last week’s reading of 6.85%. The average rate on […] ...

Iran being set back on its heels by Israel means “nothing is off the table” for China and its military advances, according to one foreign policy expert. “The Chinese… they’re losing their proxy, Iran. Iran has been accomplishing China’s foreign policy goals for quite some time. And China’s Middle East policy is now in disarray,” […] ...

Anker Innovations is recalling more than 1.1 million power banks after some users reported fires and explosions.  The company said a problem could potentially make the lithium-ion battery within some of its Anker PowerCore 10000 power banks overheat “leading to melting of plastic components, smoke, and fire hazards.”  The recall, announced Thursday, specifically applies to […] ...

Oil prices surged Friday after the Israeli Defense Forces (IDF) launched a sweeping strike on Iran’s nuclear facilities and military leaders.   U.S. West Texas Intermediate prices climbed around 6% on Friday to $72 a barrel as the strikes raised concerns on Wall Street that escalating tensions between Israel and Iran could disrupt Iranian energy […] ...

Airlines are diverting flights away from the airspace of multiple Middle Eastern countries on Friday following Israel’s surprise airstrikes on Iran.  Tracking data from the website Flightradar24 shows that carriers are avoiding flying over Israel, Jordan, Iraq and Iran, which all have closed their airspaces, reports say.  “The purpose of the closure is to prevent […] ...

Fast-food consumers looking to switch it up have plenty of new menu items to try.  Popular chains such as McDonald’s, Chipotle, Burger King, Popeyes and Wendy’s have recently introduced new food, drink and dessert offerings. Chick-fil-A has also brought back a favorite shake and debuted a new seasonal beverage. Meanwhile, Sonic Drive-In has made some […] ...

This summer, many Americans may be looking for a different kind of buzz to cool off in the summer heat or celebrate under the fireworks. The CEOs behind two of the nation’s most recognizable THC-infused beverage brands claim the sober-curious trend stands strong on its first stepping stone. “The explosion that we’ve seen in growth […] ...

President Donald Trump claimed his relationship with Elon Musk changed after he spoke about his plans to eliminate the electic vehicle mandate.  While signing legislation to overturn California’s electric vehicle mandate Thursday, Trump explained to members of the media he was surprised Musk, whom he referred to as a “friend,” didn’t bring up his concerns […] ...

Oracle co-founder Larry Ellison added $26 billion to his net worth on Thursday. His already-massive personal fortune reached $243 billion on Thursday thanks to the $26 billion jump, according to Forbes.  A rise in shares of Oracle, the tech company that Ellison co-founded 48 years ago, helped lift his net worth to a new level, the outlet […] ...

President Donald Trump on Thursday signed legislation that terminates the state of California’s electric vehicle (EV) mandate. The president signed a law repealing a waiver the Biden administration’s Environmental Protection Agency (EPA) granted California to enforce its own emissions standard that would have required the minimum percentage of zero-emission cars to rise from 35% for the […] ...

Mitsubishi Motors North America is recalling nearly 200,000 Outlander and Outlander plug-in hybrid electric SUVs because of faulty software that could make their rearview cameras malfunction.  The automaker said in a National Highway Traffic Safety Administration (NHTSA) recall report that the infotainment system inside over 198,900 Outlanders from model years 2022-2024 and Outlander PHEV SUVs […] ...

There is an emerging fourth category in the beverage industry that’s becoming a pain point for traditional beer categories, but experts say it’s drumming up excitement among younger legal drinkers. For Boston Beer Co. founder Jim Koch, this category is the area between traditional beer, traditional wine and traditional hard liquor. “There are cool things […] ...

Regional airline Silver Airways announced on Wednesday that it is ceasing operations and warned passengers not to go to the airport.  The airline operated flights between Florida, the Bahamas and the Caribbean. “In an attempt to restructure in bankruptcy, Silver entered into a transaction to sell its assets to another airline holding company, who unfortunately […] ...

EXCLUSIVE: When Sen. David McCormick was growing up in Bloomsburg – at the edge of Pennsylvania’s anthracite coal region – he never envisioned the area being economically revitalized as a linchpin for the cloud computing and AI industries, he said in a Monday interview. This week, Amazon announced a $20 billion investment in artificial intelligence […] ...