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The more value that investors can receive in the form of long-term capital gains rather than ordinary income, the less they will pay back to Uncle Sam.Those in the 20 counties below ranked by the average net capital gains reported on their federal returns to the IRS are getting above-average appreciation on their assets with much lower tax rates, generally, than their incoming income, according to a study last month by advisor lead generation and client matchmaking service SmartAsset. The mix of areas known for a large concentration of wealthy residents and regions that don’t immediately come to mind as…

The sign on the side of a Costco is seen in Hawthorne, California, on April 4, 2025.Jay L Clendenin | Getty ImagesCostco on Thursday posted quarterly earnings and revenue that topped estimates as its sales climbed 8%.Here’s how the warehouse club retailer did in its fiscal third quarter compared what Wall Street was expecting, based on a survey of analysts by LSEG:Earnings per share: $4.28 vs. $4.24 expectedRevenue: $63.21 billion vs. $63.19 billion expectedCostco’s net income for the three-month period that ended May 11 rose to $1.90 billion, or $4.28 per share, compared to $1.68 billion, or $3.78 a year earlier. Revenue rose from…

People walk past the entrance of a Gap store in Paris, France, July 1, 2021. Sarah Meyssonnier | ReutersNew tariffs could impact Gap’s business by $100 million to $150 million, if they remain in effect, the company said Thursday when announcing fiscal first-quarter earnings. Shares fell more than 15% in after-hours trading.In a news release, Gap said new 30% duties on imports from China and a 10% levy on imports from most other countries will cost the company between $250 million and $300 million without mitigation efforts. For now, it’s leaving that impact out of its guidance. Gap said it’s already mitigated…

BDO USA CEO Wayne Berson will retire effective June 30, 2026, and the firm’s national managing principal of tax Matthew Becker has been tapped by the board of directors to succeed him.Under the Top 10 Firm’s CEO succession process, the board of directors selects a candidate and its principal group ratifies the candidate. Berson and Becker will meet with the firm’s principals over the next several weeks ahead of the ratification vote, which is expected to take place in July. Once a successor is agreed upon by a majority vote, the board of directors will announce the next CEO, whose…

American Eagle Outfitters reported quarterly earnings on Thursday that missed expectations, reflecting a $75 million write-down in spring and summer merchandise, following the retailer pulling its full-year guidance earlier this month due to macroeconomic uncertainty.”The first quarter was a challenging period for our business,” CEO Jay Schottenstein said in a release. “While we are disappointed with the results, we are taking actions to better position the company and drive stronger performance in the upcoming quarters. Our brands remain resilient. The team is executing with urgency as we look to strengthen both the topline and profit flow-through.”The Pittsburgh retailer’s results do…

President Donald Trump’s appetite for new tariffs remains undeterred, even after a pair of court decisions hit his signature duties with their most devastating blow yet. White House officials quickly signaled Thursday that Trump will aggressively pursue legal challenges and, if they fail, move forward with many of the same levies through other authorities.The administration said it would go to the U.S. Supreme Court as soon as Friday if a federal appeals court does not keep the initial order from taking effect while its appeal continues. The Court of International Trade on Wednesday blocked the president’s sweeping global tariffs, citing his…

2025 Jeep Cherokee SUVStellantisDETROIT — Jeep on Thursday revealed the first details and image of its new Cherokee SUV, which the company expects to assist in the brand’s turnaround when it arrives later this year.The Stellantis brand said the new midsize SUV will feature a hybrid powertrain option but declined to specify if it would be a traditional hybrid or plug-in hybrid electric vehicle (PHEV), which the company currently offers on several SUVs.”The all-new Jeep Cherokee headlines our efforts to deliver more product, innovation, choice and standard content to customers than ever before,” Jeep CEO Bob Broderdorf said in a…

Morgan Stanley denied allegations by the Dutch Public Prosecution Service that it evaded tax on almost $1 billion worth of dividends more than a decade ago.According to the Dutch Public Prosecution Service, an Amsterdam-based subsidiary of a foreign bank filed five corporation tax returns between 2009 and 2013. The returns offset €124 million ($140 million) in tax relating to a total of €825 million in dividends paid on listed Dutch shares, the public prosecution service said in a statement Wednesday without identifying the bank. The prosecutor holds the European parent company and an employee involved at the time responsible.Morgan Stanley…