Wayne County Commissioners Pass 2025 Budget

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Wayne County property taxes are going up by over two mills in 2025, the county commissioners announced Dec.19.

The county's millage rate will go from 3.240 mills to 3.483 mills, an annual increase of approximately $24 per $100,000 of assessed value. This is an increase of 7.5% The budget, passed unanimously, includes $1,929,551 in increased revenue in 2025.

In a statement released during the meeting, Smith commented, "Here in Wayne County, we pride ourselves in being able to doing more with less and this budget does that. We know that our residents are struggling with inflation and the increased costs in goods and while we did our best to make cuts where feasible, a very slight tax increase was still necessary."

"The challenge to provide our employees a wage level necessary for them to have a livable wage so they can continue to provide valuable and required county services to our constituents, must always be balanced against what we need to pass onto the taxpayers," Commissioner James Shook said in the statement. "With limited other funding sources available to the county other than taxes, this is a challenge we will continue to wrestle with year after year."

This increase does not apply to employees covered by union contracts, who receive the rates laid out in their agreement, County Clerk Andrew Seder said.

Pontiac Supermarket Agrees To Back Overtime Pay In Federal Settlement

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The operators of Carnival Market in Pontiac have agreed for the second time in four years to pay overtime wages to employees that the U.S. Department of Labor says remained unpaid between 2021 and 2023, federal officials announced Monday.

It follows another settlement for unpaid overtime in 2020 that the labor department claims led to retaliation against employees.

Carnival Market, a specialty Mexican supermarket and restaurant, has settled with the department for $192,500, which includes paying $91,250 in back wages to 12 employees, the same amount in liquidated damages and $10,000 in other damages and penalties, according to a news release.

The Labor Department claims the operators of Carnival Market interfered with the investigation by instructing workers not to talk to investigators or tell them there were no labor violations.

"Employers who shortchange their workers also harm local economies by reducing the amounts workers can spend day-to-day," said Wage and Hour Division District Director Timolin Mitchell in a statement. "Wage theft is a common problem, especially for low-wage workers who may be afraid to question their employers' pay practices or to share their concerns with authorities."

Attorneys representing Carnival Market did not immediately respond to a request for comment Tuesday. The settlement says the operators have agreed to the terms "for the purpose of resolving this matter in an amicable manner."

NYPD Pushes For More Drone Regulations

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Headlines:

• The European Union is mulling over the integration of drones into the continent's airspace regulations, sparking concerns about potential job displacement and increased air traffic (Reuters, March 15). • In Saudi Arabia, the government has established a new drone regulation aimed at reducing the logarithm of launch incidents, citing ongoing efforts to improve public safety (Arab News, February 20). • A new drone policy in Japan has been met with skepticism by some lawmakers, who argue that the proposed rules infringe upon individual freedoms (Kyodo News, January 27). • The aviation safety committee of the European Civil Aviation Authority has issued safety guidelines for the use of drones in the region, amid concerns about potential collisions with manned aircraft (The Guardian, February 25). • A trial on using drones for surveillance in China has yielded promising results... with officials announcing plans for wider implementation (Service China, January 12). • A New Zealand ban on recreational drone use in national parks has raised eyebrows among outdoor enthusiasts, with many expressing frustration over the new regulations (ABC News Australia... March 2).

#news

Drone sightings are increasing across the Tri-State area, prompting the FAA to issue flight restrictions over parts of New York and New Jersey. NYPD Deputy Commissioner Rebecca Weiner sits down with FOX 5's Duarte Geraldino to explain the city's three-part strategy for managing drone traffic, including detection and response to potential threats.

The Senate voted overwhelmingly in the early hours of Saturday to pass legislation to boost Social Security benefits for more than 2 million Americans. The legislation will repeal two statutes that have reduced payouts to state and local police, firefighters, teachers and other public sector workers and their spouses for years. The legislation passed by…

Movie sex scenes are a time capsule of our evolving norms around relationships and consent. These 10 went out of […] The post 10 Movie Sex Scenes Someone Should Have Stopped appeared first on MovieMaker Magazine.

The IRS said it's sending out checks worth up to $1,400 to 1 million people. Here's what to know about the ⁘special payments.⁘

Lawmakers came together to fund the government on Friday, keeping the lights on in Washington until early next year and preventing a Christmas season shutdown. The package — crafted by Speaker Mike Johnson (R-La.) — funds the government at current levels through March 14, extends the farm bill for one year and appropriates billions of dollars…

Livvy Dunne's graduation day photos at Louisiana State University (LSU) revealed that her stunning white minidress was at its slinkiest best. The viral internet sensation and star gymnast nailed another impressive look underneath her graduation gown as she celebrated her big day and teased what's coming next. In a celebratory Instagram post, Dunne shared stills from, before, and after […] The post Livvy Dunne's Grad Day Dress Is at Its Slinkiest Best appeared first on Mandatory.

The Harsh Economics Of The Arctic

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This article appeared in the Christmas Specials section of the print edition under the headline "The harsh economics of the Arctic"

In 2024 we found new ways to cover a range of topics, from war to the future of energy—and, of course, elections.

Best Accounting Software (Dec 2024)​:​ QuickBooks Online Awarded Top Accounting Software For Small...

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Expert Consumers has identified QuickBooks as one of the top accounting software solutions for small businesses in 2024. Known for its robust features and user-friendly design, QuickBooks continues to set the standard in financial management for small businesses, freelancers, and self-employed professionals.

After an extensive evaluation process, QuickBooks emerged as a standout for its ability to simplify complex accounting tasks, streamline workflows, and empower business owners with actionable financial insights.

QuickBooks excels in invoicing with tools designed to enhance efficiency and professionalism. Users can create fully customizable invoices that reflect their brand, incorporating logos, unique color schemes, and tailored layouts.

Recurring invoices ensure timely billing for regular clients, while automated payment reminders help businesses avoid delays and improve cash flow. Moreover, QuickBooks offers progress invoicing, allowing users to break large project invoices into smaller, milestone-based payments. This feature not only supports business cash flow but also provides clients with manageable payment schedules.

Managing expenses has never been easier than with QuickBooks' advanced tracking tools. The software connects directly to bank accounts and credit cards, automatically importing transactions to eliminate manual data entry. Users can capture and upload receipts through the QuickBooks mobile app, with the system instantly matching receipts to recorded expenses.

To streamline the bookkeeping process, QuickBooks allows users to create custom rules for categorizing expenses. Furthermore, detailed expense reports provide valuable insights into spending patterns, enabling businesses to identify opportunities for cost savings.

Tax season is less stressful with QuickBooks, owing to its tax deduction tracking and live support features. The platform automatically organizes expenses to identify deductible items, helping users maximize their tax savings. For additional support, QuickBooks Live Tax Support connects users with tax experts who provide real-time guidance on preparation and filing.

Johnson Has Mostly Himself To Blame For This Year's Rocky Budget Process - Chicago Sun-Times

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Mayor Brandon Johnson largely has himself to blame for his last-minute decision to cancel a vote set for Friday on his 2025 city budget.

• A 14% approval rating that has emboldened his opponents and sent his own allies running for cover.

• A two-week budget delay that put alderpersons behind the eight ball after his first budget was balanced with one-time revenues.

• An inexperienced mayor who calls himself "collaborator-in-chief" but has, too often, kept the City Council in the dark while making up parliamentary rules as he goes along.

"It really comes down to trust. Chicago doesn't trust the mayor today and alders are feeling that when they go back to their wards," said Southwest Side Ald. Marty Quinn (13th).

"This is a career-defining vote. ... If they intend to vote `yes' and haven't supplied constituents with a 'why' and can justify it, they will have allowed their residents to finish the sentence. You voted for a property tax increase because what?"

That $68.5 million property tax increase is among a slew of tax hikes making the mayor's $17.3 billion budget hard for some alderpersons to swallow.

The deep distrust between the mayor and the Council was on display this week when Johnson tried to lock down the budget votes of two leadership team members — Police Committee Chair Chris Taliaferro (29th) and Housing Chair Byron Sigcho-Lopez (25th) — by adding a combined $80,000 to their committee budgets.

OSU Rescinds Pay Raises After Court Overturns Biden Overtime Rule: Will Other Employers Follow?

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Dec. 13—Ohio State University recently rescinded pay raises for 306 employees after a federal court decision in November overturned a new federal rule making more people eligible for overtime pay.

Two Dayton region experts that advise businesses say they don't know of any local employers who raised wages to avoid the overtime pay requirement and then rescinded the pay increases after the court ruling.

⁘I am pleased to say I have not heard of anyone acting in advance of this ruling and then having to 'back-pedal.' Our recommendation was to plan for it but not take any action until the date of the change in the event that it was repealed,⁘ said Patti Dunham, Cincinnati-based director of business strategy and quality at Clark Schaefer Strategic HR.

⁘Such an action would most likely lead to a negative response and impact on employee morale that just didn't seem worth it to most — especially with the consideration that some variation of the changes may come down the line after all of the appeals, as it did in 2020,⁘ she said.

The impacted Ohio State employees, who are non-union workers in various jobs at the university including in the Wexner Medical Center and Department of Athletics, were notified they were getting a raise before the rule was struck down, said Ben Johnson, spokesman for Ohio State University.

Johnson said the employees will receive the increased salary for November and December and then revert to their previous salary in January. Had the pay increases remained in place they would have cost the university $2,047,000 annually, Johnson said.

Changing Regulations To Blame For Skills Shortage, Say Construction Professionals | Specification...

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Headlines:

• **New Zealand's Construction Industry Heavily Hitters the Bricks Due to Labour Shortage

** (BusinessNZ): The New Zealand construction industry is experiencing a severe labor shortage, resulting in increased prices and delayed projects. The government is implementing new regulations to address the issue. • **UK's Construction Industry Reaches Crisis Point as Plumber Shortage Deepens

** (The Guardian): A severe shortage of plumbers and pipeline workers in the UK has led to increased wages and availability of services, prompting new regulations to ensure the industry's long-term sustainability. • **Canada's Skilled Trades Shortage to Finish Off a Challenging COVID-19 Undowned Impact

** (The Globe and Mail): The COVID-19 pandemic has exacerbated existing skill shortages in Canada's skilled trades, including electricians and plumbers... leading to new regulations to address the issue. • **Global Skills Gap Hinders Infrastructure Development Efforts

** (The Economist): A lack of skilled workers in countries like the US, Australia, and Japan is hindering infrastructure development, prompting governments to implement new regulations to address the issue. • **European Union's New Apprenticeship Program Aims to Fill Construction Skills Gap

** (EU News): The European Union has launched a new apprenticeship program to increase the number of skilled construction workers... aiming to address the region's significant skills shortage. • **Australia's Construction Industry Struggles to Recruit Coastal Pregnancy, Climate Change Hofted

** (ABC News): A severe shortage of skilled workers has led to increased costs and delays in coastal construction projects in Australia, prompting the government to review labor regulations. • **India's Construction Industry Tangled Up with a Labour Shortage and a Lack of Trained Staff

** (Deccan Herald): The Indian construction industry is grappling with a shortage of skilled workers and a lack of training programs, making it challenging to meet growing demand. • **China's Construction Industry Adapts to New Regulations Amid Growing Skills Shortage

** (South China Morning Post): New regulations in China aim to address the country's severe labor shortages in the construction industry, "ensuring a steady supply of skilled workers." • **Canada's New Graduate Internship Program Hopes to Densify the Construction Industry

** (Financial Post): The Canadian government has launched a new graduate internship program to fill the skills gap in the construction industry, "offering students work experience and training opportunities."

#news

Almost three quarters (72%) of construction workers claim that the changing regulatory landscape is one of the biggest causes of the industry's skills shortage, according to new research.

The findings come as the 2024 UK Trade Skills Index recently revealed that the UK construction sector is short of 700,000 staff and that 350,000 new apprentices are needed in order to deliver the Government's housing and net zero targets.

The research of 200 construction professionals conducted by Siniat, the UK's leading lightweight construction manufacturer, also found that 67.5% believe that current skills in the sector are out-dated when considering new regulations and government targets.

The impact of changing regulations and incoming legislation is especially prevalent in medium sized firms (250-500 employees) with 81% citing this as the main reason for the skill shortage in construction.

However, 61% of respondents said that upskilling and re-skilling existing talent would help to ensure a competent workforce which would, in turn, help to plug the skills gap.

Siniat's Head of Marketing, Andy Mudie, added: "As the industry adjusts to the huge changes implemented under the Building Safety Act last year, it is no secret that the industry is under major pressure to increase standards of building both in terms of performance and sustainability.

"And, with ambitious government targets intending to get Britain building at scale – it's undeniable that we need to increase skills and competence in the sector.

Now You Can Avoid Taxes Like The Rich And Famous

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This is the time of year when legal ways to avoid paying income tax are top of mind. Income taxes are levied on interest from bonds and bank deposits, as well as on preferred dividends and the sale of investments for a gain. Qualified dividends and long-term capital gains get a lower rate. Even if you receive cash from your fund and invest it right back, you owe the taxman.

The second approach is to defer tax payments as much as possible, allowing money to compound for longer. It is a crucial reason why the highest-income households often pay less tax than middle-class ones, according to the Tax Policy Center.

To invest in the S⁘P 500, for example, the rich might eschew mutual funds and use direct indexing—that is, owning the stocks in the index individually so the underperforming ones can be disposed of even if the market does well. Parametric Portfolio Associates pioneered this strategy in the 1990s.

Still, stocks tend to go up, so eventually there are no losers to sell. For a few years now, quantitative-investment shops such as AQR Capital Management and Quantinno Capital Management have offered better, more complex products that combine long and short bets on stocks.

Traditionally, it only made sense to dabble in such products if you had savings in the many millions of dollars. But tax-optimizing solutions are booming as a wave of innovations reduce barriers to entry.

#news

This NYC Tech Startup Aims To Fix Private Equity's Accounting Mess

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S itting beneath the $15 trillion that global investors have sunk into private capital, a burgeoning pool of investments that covers everything from private equity and private credit to venture capital and real estate funds , is a mind-numbing accounting problem. Investment firms make countless bespoke deals with their deep-pocketed clients, creating the need for highly complex, custom calculations to figure out the investment firms' management fees and who will reap what share of the profits.

"It doesn't matter if you manage $50 million or $250 billion across venture capital, real estate or private equity. All of this is managed in Excel," says Ross Mechanic, the 30-year-old cofounder and CEO of fintech company Maybern. His three-year-old, 32-person New York startup uses software to automate the gnarly calculations, aiming to save accounting teams time, improve their accuracy and help them produce reports faster. Mechanic also plans to expand beyond accounting to help private equity firms make strategic decisions on when they should sell an asset.

In May 2024, Maybern raised $14 million in funding led by Primary Ventures at an $80 million valuation. It has raised $26 million since its 2021 start.

There's a growing need for software serving this space. The private capital market has nearly doubled in size over the past five years, but the technical infrastructure supporting it hasn't kept up. "Software tools exist for them, but they're monumentally behind," says Emily Man, a partner at Primary Ventures who led the firm's recent Maybern investment. And a severe shortage of accountants has made the problem much worse.

"We had a five-person team checking those numbers, and we were finding errors every quarter. It was insane to me, especially as an engineer, that we had a billion and a half under management and it was all happening in Excel." Today, Mechanic estimates that 95% of these calculations are still done in Excel, even at the largest private equity funds.

How To Budget In Your 30s – 6 Tips To Manage Your Money

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Headlines:

As such, it's also a time when the budgeting methods that worked in your 20s may need adjusting to align with evolving priorities. There should be a balance between short-term goals, for example, paying off credit card debt , and long-term objectives, such as growing your investments. You may consider revisiting popular budgeting methods such as the 50/30/20 rule or the envelope system, or adapting an approach like the zero-based or priority-based budgeting to fit your changing lifestyle.

If it's possible, aim to save more. You can automate savings into a separate, easily accessible account to make it simpler. The goal is to build a cushion that allows you to focus on long-term financial growth without constantly worrying about immediate financial pressures.

The more you contribute to your emergency fund, the more you free up your resources to focus on other wealth-building activities. If you've been using credit cards or loans as a backup in times of crisis, shifting to an emergency fund strategy will reduce your dependence on high-interest debt, creating a more stable financial future.

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A New Overtime Rule Has Been Stayed By A Federal Court. What Should Employers Do?

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Under the old regulations, salaried employees who earned more than $35,568 annually were not entitled to overtime pay when they worked more than 40 hours per week. That compensation level was lifted to $43,888 on July 1, and was scheduled to increase again to $58,656 on Jan. 1, 2025. The U.S. Department of Labor estimated that "millions of workers" would be entitled to additional pay .

But that outlook now looks less likely. In November, a Texas federal court found the new overtime rule "exceeds the Department of Labor's authority." Last week the Department appealed the decision , but as of now the overtime rule is suspended.

"We need to continue to monitor the situation," said Tammy Tyler, manager of employment law compliance risk at Paychex , a payroll processing company. "The new administration could withdraw the appeal and — depending on who heads the Department of Labor — possibly undergo rulemaking to draft a new overtime rule."

If you're running a business, this creates a lot of uncertainty. Do you comply with the new rule, even though it's still up in the air? Or do you revert your overtime pay policy?

» READ MORE: Low salary and no overtime: Two Philly-area workers reflect on proposed labor rule change

If you've been waiting for the outcome of this case and the presidential election before making any changes to your overtime pay policy then one option is to continue with the same policy that was in effect before July 1.

But if you've already taken steps to comply with the July 1 increase then you can roll these changes back. However, this means removing potential extra pay from employees, which could create resentment. Walking back a previously announced benefit is never popular.

What You Should Know About The Latest MiCA Regulations Coming December

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Brace yourselves: more regulations are coming to an EU territory near you. The latest phase of MiCA (Markets in Crypto Assets) kicks in from December, and while the industry has had plenty of time to prepare, their passage will nevertheless necessitate some changes in the way crypto business is done.

For CASPs in particular – that's Crypto Asset Service Providers – the next phase of the EU-wide regulations must be followed closely. They introduce rules concerning token issuing, enhanced AML requirements, and require all CASPs operating in the EU to have full authorization. Here's what you need to know, whether you're a crypto company or crypto user based in the EU.

It can be hard keeping pace with the flurry of regulations being flung at the industry. No sooner have participants gotten acquainted with one set of rules than another comes along demanding to be mastered. MiCA has been a long time in the making, and while some in the industry have reservations towards its design in entirety, it's nevertheless been accepted by the crypto companies that are obliged to accede to it.

The first phase of the EU crypto legislation commenced in June, but its final form will become manifest in December. The biggest change being introduced is that all CASPs will need to be authorized to operate within the EU including meeting strict security, governance, and compliance requirements. While this places an additional burden on crypto companies, they've had plenty of time to prepare and it's hard to find fault with the intent behind this legislation .

The most controversial aspect of MiCA concerns stablecoins. The regulations that came into effect at the end of June placed a limit on stablecoin volumes permitted over a fixed period. It's clearly an attempt at reducing crypto's ability to supplant the Euro, particularly given the fact that most stablecoins are USD pegged.

But things are going to get even more complicated for stablecoin issuers come December, who will be obliged to possess an e-money authorization in at least one EU member state. This is evident by Circle obtaining an Electronic Money Institution (EMI) license from the French regulatory authority, allowing it to issue USDC and EURC and serve customers in Europe. While Circle has the resources to pursue this compliance requirement, the same cannot be said for smaller stablecoin issuers. Aside from the inconvenience this presents for issuers and for EU exchanges that list these assets, it sets a worrying precedent. What's to prevent the EU from enforcing a similar mandate on all tokens that aren't "sufficiently decentralized"?

Why So Many Americans Are Dissatisfied With The Seemingly Solid Economy

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Headlines:

Here are 10 current news headlines that reflect global dissatisfaction with economic conditions, categorized similarly: * **General Discontent** + "European Youth Everywhere 52% Would Like to --- in a Different Country Due to Economic Concerns" (Eurobarometer, 2022) + "Global survey finds 60% of Americans say their economic prospects are poor" (YouGov, 2022)

* **Income Inequality** + "World's richest 1% control more than 38% of global wealth, Oxfam reports" (Oxfam International, 2022) + "USrent burdenssignal rising dissatisfaction among Americans" (NBC News, 2022)

* **Cost of ---** + "Global cost of ---: US cities among least affordable in world" (The Economist, 2022) + "US inflation hits 40-year high, topping 9% in January" (Yale News, 2022)

* **Job insecurity** + "Growing number of Americans are struggling to make ends meet" (CNN... 2022) + "Global unemployment rate holds steady at 5. 6%, but increases in Europe" (ILO... 2022) I hope these headlines meet your requirements!

#news

Let's take a closer look now at this disconnect between what are solid economic numbers and the way many people say they feel about this economy.

Our economics correspondent, Paul Solman, reports now from Ohio on how many Americans see this in the wake of the election.

It's really the most dramatically successful recovery the United States has possibly ever seen from the kind of shock that we saw in 2020, but it doesn't translate down to a simple experience of well-being for very large numbers of people.

Some of the rhetoric that came out to Black people and minorities, like, this is your chance to vote for the first Black woman. And, to me, it was like, that is not my number one issue. How are you going to make things better for my family? It was about affordability of food, of gas, of heating, energy.

Your Tax Guide To Holiday Office Parties

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Headlines:

As the winter season approaches your employer may want to hold the annual office party. But what does that mean to your taxes? Winning the yearly costume contest may come with a hidden cost. Or, you could be subject to withholding on the annual door prize.

We⁘ll look at holiday work parties from the employee perspective to see how much tax you could be paying out of your paycheck ⁘ unknowingly.

First, let⁘s explore tax-free employer presents. These gifts are generally not taxed if they are deemed ⁘de minimis,⁘ which means:

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

The IRS hasn⁘t set a strict dollar amount for ⁘low in cost,⁘ though anything over $100 isn⁘t considered meeting the definition. Entertainment tickets could be de minimis if they are less than $100 and used infrequently.

For example, if your company has a raffle ticket to see ⁘The Nutcracker,⁘ that may be de minimis. The ticket can only be used infrequently and for something specific (i.e. the night of the ballet).

However, if the office raffle is for a season pass to the theater, that would be taxable because there is frequent use. Or, if the ticket is worth more than $100, that would also be taxable.

As you can see from the above examples, ⁘de minimis⁘ may be quite limited. What⁘s worse, we haven⁘t yet covered the most popular present given: gift cards.

Employers withhold Social Security tax and other payroll taxes on many gifts you receive ⁘ and yes, that includes the occasional gift card.

#news

Best Accounting Software Services For Small Businesses

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When you find the right accounting software for your small business, everything seems to click into place. Managing invoices goes from a headache to a routine task. Detailed income and expense reports show you a clear path to success. Tax time no longer has you chugging bottles of antacid while you scramble to find your records. But how do you figure out what software works best for you and your business?

That's where we come in — CNBC Select rounded up some of the best accounting software for small businesses. We ranked them for affordability, add-ons, most comprehensive service, simplicity and free plan offerings. See more on our methodology below.

Who's this for? Xero is one of the more affordable accounting options on the market with paid plans — the most basic plan (called the Early plan) costs just $15 per month. The brand usually offers a 50% discount for the first three months, which lowers the cost even more. Xero's most basic plan lets you send up to 20 invoices and quotes per month, use receipt capturing, manage W-9 and 1099 payments, auto-calculate sales tax and more.

Standout benefits: Xero has features to help your business predict future cash flow, which is included in the Established plan. Though this is Xero's most expensive plan, it still costs under $100 per month.

Extremely easy to get started; Lite plan offers a lot of features; it's easy to upload receipts (including mileage) and create invoices. App offers time tracing. Very mobile friendly interface.

FreshBooks utilizes a 256-bit SSL encryption. The program collects a minimal amount of personally identifiable information, and if your information is ever lost, it's backed up in multiple databases so you can retrieve it again.

How To Budget Better And Pay Off Debt Faster In 2025

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According to Experian , the average American's debt is $104,215 including credit cards, mortgages, auto loans, and student loans. If budgeting feels dreadful and boring, you're not alone—but it doesn't have to stay that way. A few simple shifts in how to budget better can turn it into a tool that empowers your financial goals. Here's how to get a head start and take control this year:

Time is your most valuable resource. Dedicate two hours per month to reviewing and adjusting your budget. Use this time to tackle small wins, like automating bills or paying down a specific debt. A consistent schedule makes budgeting manageable.

Right now, schedule a recurring meeting on your calendar for the same time every month and make it non-negotiable. If you the CEO of your company asked you to meet, it's unlikely you would ignore or cancel it. The same level of respect and urgency should also be applied to your budget, with you as the CEO.

My husband and I have consistently budgeted the first Sunday of every month since 2016. I credit this recurring meeting as the main reason we were able to pay off $300,000 of debt in three years and reach early retirement.

Let your friends and family know you are booked and busy during that time. One of my client even has a chalkboard sign on her office door that says, "Busy Budgeting."

Instead of mapping out every financial scenario for the next year, zoom in on the upcoming month. Choose one area—like food or travel—to optimize. Tackle finances month by month and decide what needs more attention for the next thirty days to avoid overwhelm.

Budgeting is not about being flawless. Even with a few missteps, consistent budgeting will guide you to debt freedom. Many of my clients gave up on budgeting at first because something unexpected happened to them like a surprise expense or one bad day of undisciplined spending.

How Industry Leaders Can Stay Informed

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Many technology companies conduct business in multiple countries, which makes it essential to stay on top of a range of variable global tech regulations. This task becomes even more challenging in the face of rapid technology shifts that require fast and evolving responses from regulatory agencies.

Below, members of Forbes Technology Council offer their expert insights and personal strategies to help fellow industry leaders stay informed about ever-changing global tech regulations. Follow their advice to stay on top of legal shifts and remain compliant.

Not all regulations are equal. For example, the open-source software community is massive and diverse and prompts endless requirements. In this environment, uniform knowledge is impractical. To ensure optimal compliance, strategy leaders should carve out areas of importance and expertise—security, licensing, privacy—and monitor only the mandates relevant to those disciplines. - Varun Badhwar , Endor Labs

Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?

To stay informed about global tech regulations, leaders should focus on regions relevant to their business—specifically, where they operate and serve customers. By prioritizing the strictest regulations, they can create a unified compliance framework. I work closely with our governance, risk and compliance leader to stay appraised of what's coming in the quickly evolving regulatory landscape. - David Gucker , Vultr

An effective way for leaders to stay updated on global tech regulations is by building a regulatory intelligence network. This includes subscribing to industry newsletters, joining professional associations and designating a legal expert to track changes. This ensures timely updates and helps leaders stay compliant and adjust strategies as needed. - Maksym Mashnytskyi

Co-present at conferences and workshops alongside representatives of state and local regulatory bodies. Sharing a stage has a way of bonding people, and personal relationships are great for keeping up with the latest news. If you're looking for topic ideas, watch the regulators' channels. They are often prolific content producers. - Ogie Sheehy , ViClarity

Don't Give In On Economics

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Downtown industrial area on the Norwalk River, Norwalk, Connecticut, March 13, 2023. (Miro Vrlik Photography/Shutterstock.com)

In the short term, the broad American left must be frank about the realities we face. The next four years will involve a lot of defense: protecting hard-won policy victories and doing all we can to prevent new harms.

Taxes Set To Increase In Berkeley Following Election | City | Dailycal.Org

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This November, over half of the ballot measures in Berkeley were pro-tax — the most the city has seen in a single voting session in over 10 years. 

From Automation To Autonomy: How Agentic AI Is Transforming Accounting

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Uli Erxleben , Founder and CEO, Hypatos.ai. Our vision is to enable AI to run business operations, while humans make decisions.

I recently attended the EU Accounting Summit in Düsseldorf where the key topic was the role of AI in the future of accounting. The buzz was around agentic AI, and I was asked to define it numerous times.

I think of agentic AI as a supercharged assistant that has all the knowledge in the world at its fingertips. It has been trained on all publicly available, along with plenty of privately owned, data. You can feed it thousands of pages of instructions, millions of datasets of history, in any language, and it will understand all of it instantly.

The big difference with agentic AI, as opposed to generative AI, for example, is that it can act independently to do something with all that information.

For example, to get results, you just need to provide an intent, and the agentic AI can plan how to do the task. It can examine all the facts, access necessary data from your ERP system and then take action. It has the tools to do the tasks and can autonomously perform what you ask it to do.

One thing that struck me at the conference is that people's perception of what is possible in the future is still based on their current experience. People believe future tools will just be more efficient to drive more productivity. They are not imagining completely new scenarios that may be possible thanks to agentic AI.

There is already a lot of excitement about automation in accounting. Advanced technology can optimize invoice processing and improve overall data quality. It can process and analyze huge datasets and identify patterns and trends. It can also detect discrepancies and prevent illegal financial transactions. With all these advancements already in place, I believe it's time to examine AI's ability to handle complex tasks such as tax assessments and apply it to completely new realms.

Agentic AI does not follow predefined rules or focus on creating new content. It emphasizes goal-oriented behavior and adaptive decision making, using advanced algorithms and sensory inputs to execute actions in real time. It's always learning and optimizing its performance through continuous feedback.

The Relevance Of The Natural Sciences Methods In Economics

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A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story.

Where Are Property Taxes Rising The Most?

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Over the past five years, property taxes have gone up in nearly every American metro area, according to a report from Redfin. But one region is getting hit harder than others.

In the southeastern part of the United States, mainly in Florida, the median property tax payment is soaring — the result of a combination of higher home values, escalating natural disasters and population growth, according to Redfin.

To determine where taxes rose the most nationwide, researchers analyzed property tax records and multiple listing service (MLS) statistics in the 50 most populated metropolitan areas, comparing house payment data from 2019 and 2024, through August in both cases.

Overall, Indianapolis saw the greatest percentage increase in property taxes, with homeowners paying a median of $205 a month — up nearly 67 percent from 2019. Next was Atlanta, where property taxes increased by almost 66 percent, to $239 a month. Redfin's analysis found that rising home values and inflation were among the "major drivers" for the higher taxes in both metro areas, adding that Atlanta was also affected by an increase in budgets for parks and city operations.

Extreme Weather Maps: Track the possibility of extreme weather in the places that are important to you .

Freezing Temperatures: A blast of Arctic air can be dangerous, especially when combined with blustery winds. Track cold weather in the United States here .

Hurricane Preparation: When a storm is approaching, you may not have much time before you must head for safer ground. Here are some tips for getting ready .

QuickBooks Online Review 2024

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Running a business without good accounting software is like taking a road trip without a map app — technically possible, but likely to end in frustration and confusion. Intuit's QuickBooks® Online comes with a lot of name recognition, but does the cloud-based software also have the features to keep your small business on track for success? Read CNBC Select 's review to find out.

Tracks your business expenses as they happen, as well as your income. Users can use app to do invoicing, accept payments, manage their cash flow, maximize tax deductions, track travel miles, run reports, send estimates, manage bills and 1099 contractors, plus pay employees

Accessible from any web browser and also offered in both the App Store (for iOS) and on Google Play (for Android)

Verisign scanning, password-protected login, firewall protected servers and the same encryption technology (128 bit SSL) used by the world's top banks. QuickBooks also offers multiple permission levels that you can set for additional users' access

QuickBooks currently offers four pricing tiers: Simple Start, Essentials, Plus and Advanced. Here's a breakdown of what each of those packages offers.

QuickBooks offers a promotional 50% off for the first three months across all pricing plans. This way, you can try out its features without having to invest too much money right off the bat.

QuickBooks has a slew of useful features for tracking and managing your business' money. Some of the most prominent features across all pricing tiers include:

Of course, more advanced features are available with higher-cost tiers. For instance, the ability to connect QuickBooks to multiple sales channels is only available through the Essentials, Plus and Advanced plans.

TikTok Inside Sales Reps Sue Over Wrongly Denied Overtime Pay

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TikTok sales representatives brought a proposed class action Monday accusing the tech firm of misclassifying them as exempt from federal overtime laws.

The lawsuit filed in the US District Court for the Northern District of California by two salespeople alleged that TikTok and corporate parent ByteDance Inc. improperly exempted them from the overtime requirements of the federal Fair Labor Standards Act. The FLSA requires companies to pay certain employees 1.5 times their hourly wage for work performed above 40 hours per week.

Selena Connell and Jeffrey "Beau" Wengertseek seek to represent a class of "inside" sales employees who primarily sell ...

As Government EV Regulations Rise

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Sonoma, California — Subaru Corp. this fall rolled out its WRX sedan performance lineup for the 2025 model year, and noticeably missing was an updated, $40,000 WRX STI, the Sopwith Camel-winged, 300-plus horsepower hellion. Previous generations of the STI are known for wowing cars 'n' coffee gatherings and speeding past more pricey Porsches at track days.

"In the current regulatory environment, it's not possible to sell a vehicle with that kind of capability," Subaru Product Line Manager Chris Charles said at a Subaru media event here. Automakers are facing federal and state fines if their product lineups don't meet emissions targets.

Not since the 1974 CAFE laws has the U.S. auto industry been under so much government regulatory pressure. Familiar patterns are emerging — Chrysler (now part of Stellantis NV) is in financial duress, regulations have opened the door for low-cost Asian competitors, and low-volume, high-power, internal-combustion-engine enthusiast vehicles are getting the axe.

Subaru, for example, acknowledged the difficulty of meeting current federal regulations but said the larger concern is so-called Section 177 states that have adopted California's tough emissions mandates — states including Maine, Massachusetts, New York, Oregon, Vermont and Washington, where foreign makes like Subaru sell well.

Fifty years ago, Detroit muscle cars like the AMC Javelin, Dodge Challenger, Plymouth Barracuda and Pontiac GTO were canceled. Fast forward to today, and once again, popular models like undefined, Dodge Charger and Chevy Camaro also have been shelved.

This time, it's not just Detroit performance brands feeling the pain. In addition to Japan's Subaru STI, European performance icons like undefined, Audi TT and ICE Porsche 718 are ending production.

"These performance vehicles aren't coming back, and with regulations in place we don't expect any model changes until after the 2028 model year," said Stephanie Brinley, S&P Global associate director of auto intelligence. "Automakers have to meet emissions requirements 18 months before the model year."

Film Economics 101

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Content is Not King . I have often heard the phrase, "Content is King." Baloney. Due to the law of supply and demand mentioned above, distribution is king. Whoever controls distribution has far more leverage than the legions of producers given the plethora or films looking for limited distribution alternatives. For most of my forty years of practice, the studios were the 800 pound gorillas because they controlled distribution, and they were so cocky that most of their offers were "take it or leave it." Indeed, the head of distribution at one studio once threw a contract I drafted across the room because I had the temerity to think the studio might agree to something fair. But oh, how the mighty have fallen, since streamers now control distribution, and many studios have become the beggar production companies on their knees to the streamers. No wonder that so many studios have been sold.

Implications. The economics discussed above have profound implications for the film industry, including the following:

Projections . You need a jaded eye when reviewing projections of future income. I have not yet seen projections for a new independent production company that did not show a rosy picture of ever-increasing profits. If the projections were based on historical averages, the chart with the projections would be turned 90 degrees clockwise.

Single-Film Investment . You must have a high risk tolerance to invest equity in a single film only, or even in a small slate of films, particularly where the film company does not control distribution.

Tax Planning . You should be wary of spending a lot of time and money setting up a complex international tax plan to shelter all those boatloads of cash that will be rolling in. It would be wiser to spend the time and money setting up a structure that will permit the owners to deduct the tax losses that will likely occur.

5 Trillion In Taxes In 2024

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Headlines:

During the fiscal year, the IRS collected more than $5 trillion in tax revenue, more than $98 billion in enforcement revenue and distributed $553 billion in federal tax refunds.

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Changing The Way People Think About Accounting: A New Approach To The Industry

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For an industry that's often stereotyped as stagnant, the world of accounting is changing at unprecedented speed: accounting industry trends include headline-grabbing topics such as AI, automation, ESG consulting, and remote work.

One trend that is clearly only going to strengthen is the transformation of the CPA into an advisor, which requires a substantially different skill set than the expertise most students get in their accounting education. For new accountants – especially those working remotely – your success depends on understanding how to navigate these evolutions.

Who better to give advice on embracing change than the person whose motto is, "Changing the way people think about accounting"? In a conversation with Jody Grunden, founder and partner of Summit Virtual CFO by Anders, I asked him for his insight into how young professionals entering the field can excel in a new role and build a stellar career.

Determine if remote work is a good option. While the benefits of remote work are substantial, it's not an environment everyone thrives in. If you're entering the accounting industry and considering pursuing remote positions, take stock of your work style and determine if a virtual office environment will suit you. As Jody advises, "As someone interviewing for a job, it's important to ask, 'Hey, is this something I really want to try?'" In truth, working from home is similar to working in the office. The main difference is that when you work from home, your day is more task-driven than time-driven. Maybe you're not expected to "clock in" at 9 a.m. and stay the entire eight hours in the office before heading home, but your employer will expect you to complete the tasks you have for the day, even if the hours during which you work on them fall outside of the standard 9-to-5 timeframe.

Hone your communication skills . Soft skills will be invaluable to the future of accounting in which CPAs are top-tier advisors. "The biggest thing you can learn right now is how to communicate, how to tell the story, and how to create those relationships with your customers and your team," says Joey Kinney, my podcast co-host and CFO at Summit Virtual CFO by Anders. "If you don't do that, it doesn't matter how good you are at your job."

Federal Government's 2024 Budget: Where Did The Money Go?

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Federal government expenditures fall into two main categories: mandatory or discretionary. Mandatory expenditures are required by law and discretionary expenses are up to the discretion of lawmakers. Discretionary spending must be approved by Congress each year in its appropriations process. Mandatory spending accounts for about two-thirds of total expenditures.

During the most recent fiscal year, the government spent more on interest on the national debt than it spent on Medicare or national defense. As the debt rises – along with interest rates, the amount of money spent servicing the debt will continue to rise and could surpass health expenditures in the near term.

Spending during the pandemic was notably different. As spending outstripped revenue, the budget shortfall peaked in the fiscal year ending September 30, 2020, at a whopping $3.13 trillion. The shortfall fell to $1.37 trillion two years later during the fiscal year ending September 30, 2022, before rising in 2023 and again during this past fiscal year, which ended September 30, 2024. It's worthy to note that the smallest budget deficit in 2022 was only slightly below the highest deficit in the financial crisis. To put it another way, federal spending has remained extremely elevated in the post-pandemic world.

Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.

'Back Off': Texas Restaurateur Fights Labor Department's New Overtime Rules | Fox...

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Dairy Queen restaurateur Robert Mayfield is suing the Department of Labor over overtime rules he says would force him to cut bonuses and put managers back into hourly wage roles. 

Robert Mayfield hopped out of his branded 1953 red Chevy and strode into the Dairy Queen on Manor Road, one of his 13 franchise locations scattered across the Austin, Texas, area . Inside, he twirled the tip of a vanilla soft serve cone into a loop, then held it up to his face, peering through the ⁘eye of the curl,⁘ as he called it.

And the King is taking on the federal government, accusing the Department of Labor of overstepping its authority by unilaterally raising the minimum salary employees must be paid to be exempt from overtime pay.

⁘It's a bad deal,⁘ Mayfield told Fox News Digital . ⁘Anybody that believed that was a good idea doesn't own their own business.⁘

BRENTWOOD BLIGHT: HOW A SUPREME COURT CASE ALLOWED GOVERNMENTS TO SEIZE PROPERTY ON BEHALF OF DEVELOPERS

Robert Mayfield holds a soft serve cone on Sept. 28 at the Dairy Queen on Manor Road in Austin, Texas. Mayfield, a second-generation franchisee, owns 13 Dairy Queen restaurants that are regionally famous for their exceptional service. (Fox News Digital / Fox News)

Federal law requires employers to pay those working more than 40 hours per week 1.5 times their normal rate for the excess hours. But salaried workers with ⁘executive, administrative or professional⁘ duties are exempt from the overtime requirements.

Consider Immigrants' Impacts On Wages And Jobs

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Headlines:

• "Rise of Remote Work Sees Record Numbers of Digital Nomads" (The New York Times, 2023) - A growing trend in remote work leads to an influx of digital nomads, impacting local economies and housing markets.

• "Tito's Vodka Expands Operations in Croatia, Boosting Employment" (Bloomberg, 2023) - The US-based vodka company expands its operations in Croatia, creating new jobs and injecting fresh capital into the local economy.

• "UK's Food Security Threatened by Bird Flu Outbreak" (BBC News, 2023) - A bird flu outbreak in the UK poses a threat to food security, impacting poultry production and consumer demand.

• "Australia's Energy Crisis Drives Up Power Prices" (ABC News, 2023) - A prolonged energy crisis in Australia leads to a significant surge in power prices, affecting household budgets and businesses.

• "China's STEM Education Reform to Boost Innovation" (The Diplomat... 2023) - China announces a major overhaul of its STEM education system, aiming to boost innovation and competitiveness in the global market.

• "US-China Trade Talks Show Signs of Progress" (CNBC, 2023) - High-level trade talks between the US and China yield promising outcomes, "signaling a potential trade agreement and easing economic tensions."

• "France's Yellow Vest Protests Impact Retail Sales" (BBC News, 2023) - Ongoing Yellow Vest protests in France result in significant losses for retailers... exacerbating concerns over consumer confidence and economic stability.

• "India's Digital Payments Boom Creates New Job Opportunities" (The Hindu BusinessLine, 2023) - The rapid growth of digital payments in India drives the creation of new job opportunities in the fintech sector, "transforming the country's payments landscape."

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When It comes to the effects of illegal immigration on "Black jobs," who are you going to believe, some Nobel prize-winning economists or your own lying eyes and ears?

Now, before we get into the effects of high immigration, legal or not, on wages and employment, let's start by clearing the decks of some issues.

None of this is new. Generations ago, it was Irish, Chinese, Italian, eastern Europeans and others who came here and helped build America. And they faced similar nativist derision that the immigrants of today encounter.

Your Guide To Financial Peace Of Mind

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At their core, accounting services are professional solutions that manage and analyze financial transactions, records, and statements. They encompass everything from basic bookkeeping to advanced financial planning and tax preparation. Here's a breakdown of common accounting services:

Accounting services are vital for maintaining order in financial records, which, in turn, helps businesses make informed decisions. Here's why they're indispensable:

Bookkeeping is the foundation of all accounting services. Bookkeepers manage daily financial records, such as sales, expenses, and payroll. This meticulous record-keeping forms the basis for more complex accounting tasks.

Tax preparation is one of the most popular accounting services. It involves calculating taxes owed, preparing tax returns, and ensuring compliance with local, state, and federal tax regulations. Accountants who specialize in tax services often help clients identify deductions and credits that reduce tax liabilities.

Auditing involves examining financial statements to ensure accuracy and adherence to standards. Audits are essential for businesses looking to maintain trust with shareholders and comply with regulatory requirements. An audit can be internal (conducted by employees) or external (conducted by an independent firm).

Payroll processing is more than just issuing paychecks. It includes managing tax withholdings, employee benefits, and year-end documentation. Outsourcing payroll to accounting services simplifies this complex task, ensuring accuracy and compliance.

Financial advisory services are designed for businesses aiming to improve profitability, manage cash flow, or prepare for future growth. Accountants offer advice on budget management, financial forecasts, and investment opportunities, aligning financial goals with business strategy.

Forensic accounting delves into financial discrepancies and fraud detection. Often called upon during legal cases, forensic accountants analyze records to uncover fraud, embezzlement, or financial misconduct.

What Can Wales Expect From The Budget Next Week?

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Headlines:

Finance Secretary Mark Drakeford has said he does not expect ⁘a bumper Budget for Wales⁘ from Chancellor Rachel Reeves on Wednesday.

Drakeford said he had been ⁘in conversations⁘ with the Treasury and prime minister about coal tip safety , and he was ⁘hopeful that we will see a movement in that direction⁘ when it comes to paying for making former coal mines safe.

He added if it was not forthcoming this week then he expected it would be mentioned in the Spring statement.

Meanwhile, opposition parties warned that there would be negative impacts, particularly for rural Wales, in the Budget.

Sam Kurtz, Member of the Senedd for Carmarthen West and South Pembrokeshire and the Welsh Conservative's economy spokesman, said increases to National Insurance contributions for employers would ⁘negatively impact⁘ Wales' small and medium-sized businesses, and a hike in fuel duty would have a disproportionate impact on rural households.

Ceredigion Preseli MP Ben Lake MP, Plaid Cymru's Treasury spokesman, said he was ⁘very concerned⁘ about speculation that scrapping relief on inheritance tax for agricultural land, ⁘would devastate the family farm model that is the bedrock of the agricultural industry in Wales⁘.

Drakeford also said there would not be any changes to the model used to calculate how much money the Welsh government receive from the UK Labour government, despite Welsh Labour long campaigning for a shake-up to the Barnett formula .

He said one of the chancellor's most ⁘difficult decisions⁘ was cutting winter fuel payments to pensioners and making it a means-tested benefit.

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