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Senate Republicans release new details on Trump budget bill – CBS News Watch CBS News Senate Republicans on Monday unveiled long-awaited details on Medicaid, SALT deductions and more in President Trump’s tax bill. CBS News congressional correspondent Nikole Killion reports. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldThe US Senate’s version of Donald Trump’s flagship tax bill will not propose raising the cap on state and local tax deductions, in a move that threatens to torpedo the so-called “big, beautiful bill”.The Senate finance committee is set to publish a draft bill on Monday afternoon that will keep the annual cap on the amount of state and local taxes taxpayers can deduct from their federal tax bills, commonly known as “Salt” at the current level of $10,000, said…

Costco is about to find out how popular its gas really is.The wholesale club is planning to build a stand-alone 40-bay gas station in Mission Viejo, California, a suburb of Los Angeles.The project comes after the company recently extended operating hours at several of the gas stations at its warehouses. Executives said the strategy led to a distinct uptick in sales.”Members are probably looking for some greater flexibility than always having to go to the store,” Telsey Advisory Group retail analyst Joe Feldman told Business Insider of the stand-alone gas station plan. “Perhaps this is a play on that.”The new…

Business owners who employ their children in a reasonable but limited capacity at their firms can rake in tax savings and start their kids’ first retirement accounts in the process.But the entrepreneurs and their financial advisors or tax professionals must ensure they’re diligently keeping the kids’ employment records, complying with some variation in state-level rules for business entities and addressing any other potential ramifications, according to Miklos Ringbauer, of Los Angeles-based MiklosCPA, and Kevin Thompson, CEO of Fort Worth, Texas-based RIA firm 9i Capital Group.READ MORE: 24 tax tips for self-employed clientsKey benefits of hiring your childFor instance, Ringbauer usually…

Top 10 firm RSM announced the launch of myRSM Tax, an artificial intelligence-powered tax technology ecosystem, a suite of proprietary platforms that work together to reduce manual processes, accelerate insight generation and ensure transparency from fund administrators to founders. “Our new AI-powered tax platform represents the next phase in our digital strategy,” said Matt Bradvica, tax digital strategy leader and partner at RSM. “It’s not just a tool—it’s a transformation. By integrating generative AI into our core tax workflows, we’re building on our strengths to deliver even faster and more strategic results for our clients.”The suite offers compliance and reporting…

2025-06-16T17:55:07Z Share Facebook Email X LinkedIn Copy link lighning bolt icon An icon in the shape of a lightning bolt. Impact Link Save Saved Read in app This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in. Costco is buying more US-made items and rerouting inventory to avoid raising prices due to tariffs. I shopped at Costco in June and compared prices to when the tariffs were announced in April. A few items were more expensive, but most cost the same, and some had even gotten cheaper. While some…

Partner, sue, or block?Those tend to be the three available options for publishers when it comes to dealing with artificial intelligence companies scraping their content to train large language models.Nextdoor, the hyperlocal social network, is emphatically choosing the blocking path.”If you spread your content far and wide, there’s a very good chance that one of these better funded, larger operating companies — like a ChatGPT, or Microsoft, or whomever — is going to take all that content, train its models, and then consumers will never have to come to you,” Nirav Tolia, Nextdoor’s CEO, told BI in an interview at…

President Donald Trump and his allies are pursuing an alternative strategy to defend against mounting court orders blocking his policies: Raise the financial stakes for those suing the administration.Republicans want to force people suing the U.S. to post financial guarantees to cover the government’s costs if they win a temporary halt to Trump’s policies but ultimately lose the case. A measure in the House’s “big, beautiful” tax-and-spending bill would condition a judges’ power to hold US officials in contempt for violating their orders to the payment of that security. A new proposed version of the bill announced by Senate Republicans on…

This as-told-to essay is based on a conversation with Boram Nam, founder of Boram Care. It has been edited for length and clarity.My postpartum experiences with both my kids were very hard. It took me years to recognize how challenging they really were and accept the fact that I likely had postpartum depression. At the time, I simply knew I was overwhelmed and overworked, walking around with engorged breasts that felt like rocks on my chest as I struggled with breastfeeding.My daughter, who is now 15, was born when my husband and I were starting a company that distributed Korean…

AICPA chair Lexy Kessler looks ahead at the challenges and opportunities —often one and the same — that are facing the profession, and what accountants need to do to be ready for them.Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Dan Hood (00:03):Welcome to On the Air with Accounting Today I’m editor-in-chief Dan Hood. With the accounting profession changing as rapidly as it does, it’s always good to have a chance to share the perspectives of those who are leading into…