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The American Institute of CPAs is asking leaders of the Senate Finance Committee and the House Ways and Means Committee to make changes in the wide-ranging tax and spending legislation that was passed in the House last week and is now in the Senate, especially provisions that have a significant impact on accounting firms and tax professionals.In a letter Thursday, the AICPA outlined its concerns about changes in the deductibility of state and local taxes pass-through entities such as accounting and law firms that fit the definition of “specified service trades or businesses.” The AICPA urged CPAs to contact lawmakers…

2025-05-30T18:52:45Z 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. Millennium has hired two marquee credit portfolio managers. It has hired Laurion partner Jonathan Grau and Brevan Howard PM Christopher Reich, sources said. Credit strategies have been highly sought after in recent years, despite a dip in demand for 2025. Wall Street’s largest hedge fund just got a bit larger, adding two…

Disney has a new idea to keep customers from canceling Disney+: perks.In recent months, the Mouse House has bolstered its streaming business by integrating content from Hulu and ESPN, as well as by forming a bundle with Max, Warner Bros. Discovery’s rival streamer.Now, its latest move to keep subscribers around is the introduction of a new program called Disney+ Perks. This program gives Disney+ subscribers deals on websites, free trials to memberships, and sweepstakes to win tickets for Disney Cruises or tickets to Disney movie premieres.Disney first began testing limited-edition perks for its streaming customers in December 2023 and launched…

Shoppers have faced higher prices due to tariffs and bird flu this year.Costco, meanwhile, has worked to avoid price hikes on many items thanks to a multi-pronged approach, executives said during the retailer’s third-quarter earnings call on Thursday.As the threat of tariffs became real during the quarter, which included President Donald Trump’s “Liberation Day,” Costco brought in some merchandise for summer earlier than usual and purchased more US-made inventory, CEO Ron Vachris said during the call.The chain also rerouted some goods it had already purchased for its US stores to its locations abroad in order to avoid paying the tariffs.Costco’s…

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023.Tom Williams | Cq-roll Call, Inc. | Getty ImagesThe more Jamie Dimon worries, the better his bank seems to do.As JPMorgan Chase has grown larger, more profitable and increasingly more crucial to the U.S. economy in recent years, its star CEO has grown more vocal about what could go wrong — all while things keep going right for his bank.In the best of times and in the worst of…

Updated 2025-05-30T16:40:47Z 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. The Vanderbilts, one of America’s wealthiest Gilded Age families, owned multiple opulent homes. The Breakers in Newport, Rhode Island, was their summer escape. Now a museum, the Breakers features 70 rooms and spans 138,300 square feet. During the Gilded Age, Cornelius Vanderbilt was America’s richest man with an estimated net worth…

South Africa’s case against executives in the biggest corporate fraud in the country’s history will be moved to a higher court for complex criminal trials, with their next hearing also pushed back to September.Stéhan Grobler, the head of treasury at Steinhoff International Holdings NV when the furniture giant unraveled almost eight years ago, received extended bail along with two other former executives at Steinhoff subsidiaries and affiliates at a hearing in the Specialized Commercial Crimes Court in Pretoria on Friday.Their case will be moved to the High Court, with their next hearing scheduled for Sept. 3 when a trial date…

This as-told-to essay is based on a conversation with Jochen Koedijk, Expedia Group’s chief marketing officer. It’s been edited for length and clarity.The way consumers are using the internet to make their decisions is fundamentally changing.I have two kids, 10 and seven years old, and I think it’s very unlikely they will ever put a query into a search box, as I’ve grown up doing. The way people are using voice and having real conversations is going to be a long-term change in how people are using the internet.What we’re seeing today is that a lot of the inspirational travel…

In 2023, I finished my Ph.D. in biomedical engineering with no job lined up and, honestly, no idea what to do next.To this day, I’m not entirely sure what went through my mind when I decided to pursue a Ph.D. Maybe I wanted to delay entering the job market a little longer. Maybe it felt like the natural course after finishing a master’s, especially since many of my friends were doing the same.It took me a while to realize the lab life wasn’t for me. I was working 12 to 14 hours a day, including weekends and holidays, trying to…

Buried deep in the more than 1,000-page tax-and-spending bill that President Donald Trump is muscling through Congress is an obscure tax measure that’s setting off alarms on Wall Street and beyond.The item — introduced in legislation that passed the House last week as Section 899 and titled “Enforcement of Remedies Against Unfair Foreign Taxes” — calls for, among other things, increasing tax rates for individuals and companies from countries whose tax policies the U.S. deems “discriminatory.” This includes raising tax rates on passive income, such as interest and dividends, earned by investors who are potentially sitting on trillions in American…