Business News

Income tax return: Are there professions that require less tax?

Business News / By Ashley Cornell, email: [email protected]

When filing taxes, employees in certain professions can benefit from small adjustments that allow them to save a little on taxes, but these are rare.

“There aren’t many professions that don’t pay taxes,” H&R Block spokesman Yannick Lemay said in an interview with QMI Agency.

Only clergy and people who have taken a vow of poverty benefit from a real tax exemption.

However, certain professions could benefit from different tax liability, Mr Lemay explained.

This is particularly true for people who act as host families and receive state benefits.

Local elected officials also benefit from a certain amount of relief through a subsidy for the expenses they incur as part of their work.

“This allowance is not taxable in Quebec, but is taxable at the federal level. “You save a lot of taxes in this regard,” emphasized the spokesman.

Exclude some of your income

If expenses were incurred as part of your professional activity, it is possible to exclude part of your income from tax.

“Ultimately, that person has incurred expenses, so they still have less money in their pocket. “She hasn’t necessarily gotten richer,” Mr. Lemay noted.

Occupations are often cheaper for these expenses. For example, we find construction companies who often travel with their own work equipment, or road workers who are on the move almost every day.

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US pharmacy giants start selling abortion pills – DW – 02/03/2024

Business News / By Ashley Cornell, email: [email protected]

American drugstore chains CVS Health and Walgreens announced that they will soon begin selling the abortion pill mifepristone in states where abortions are legal.

The Food and Drug Administration (FDA) approved a rule in January 2023 that allows for greater access to mifepristone, including by expanding availability at major pharmacies.

Due to safety concerns, FDA labeling has previously been limited. CVS Health and Walgreens have now completed the process in accordance with the FDA rule change that will allow them to sell mifepristone.

The drug is used along with a second pill, misopristol, for medical abortions. This is a method in which a pregnancy is terminated using the two pills instead of surgery.

According to the Guttmacher Institute, a research group that advocates for abortion rights, more than half of all pregnancies in America are terminated through medical abortions.

US judge suspends approval of abortion drugs

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Biden praises better access to abortion pills

“With major retail pharmacy chains newly certified to dispense abortion medications, many women will soon have the option to pick up their prescription at a local, certified pharmacy – just like they would with any other medication,” said U.S. President Joe Biden.

“I encourage all pharmacies that want to take advantage of this option to become certified,” he said. CVS Health, the nation's largest drugstore chain, said it will begin filling prescriptions for mifepristone in Rhode Island and neighboring Massachusetts in the coming weeks.

Walgreens will begin dispensing the medication within a week. The chain will launch with a few locations in New York, Pennsylvania, Massachusetts, California and Illinois.

Biden has made abortion rights a central issue of his presidential campaign. He has released abortion-themed ads and sought to portray his main rival, former President Donald Trump, as someone who could threaten Americans' personal freedoms.

Access to medical abortion is a big issue in an election year

The news comes as the US Supreme Court will consider whether to restrict access to mifepristone. The decision could upend the FDA's approval and regulation of the drug, which has been considered safe for many years. A verdict is expected in July.

Access to medication abortion, particularly by mail, which was also one of the FDA's 2023 rule changes, has become a topic of heated debate.

The Supreme Court overturned Roe v. Wade, which constitutionally protected abortion. Many conservative states, such as Tennessee, have since passed complete bans on abortion.

rm/wd (AP, AFP)

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Fisker plunges 34% on warning; CEO hopes to finalize financing deals with OEM “as soon as possible.”

Business News / By Ashley Cornell, email: [email protected]

Fisker (FSR) released a slew of bad news in its fourth-quarter earnings report yesterday, rattling investors and Wall Street analysts.

Fisker reported that the company has “significant doubts about its ability to continue as a going concern” when it reports its official 2023 financial statements given its financial condition, dealers' evolving sales approach and the challenging electric vehicle market. Fisker also said it will reduce its workforce by 15%.

Fisker said it had $396 million in cash at the end of the fourth quarter, but $70 million of it was locked up. Fisker said it is in discussions with a current bondholder about an additional investment in the company and is negotiating with “a major automaker regarding a possible transaction that could include an investment in Fisker and the joint development of one or more electric vehicle platforms.” Manufacturing in North America.”

Portal reported Friday afternoon that Fisker was in preliminary discussions with Nissan about a $400 million cash injection and that Nissan would have access to Fisker's upcoming truck platform.

The Fisker Ocean, the American automaker's new all-electric SUV, is on display in Barcelona, Spain, on March 3, 2022. (Joan Cros/NurPhoto via Getty Images) (NurPhoto via Getty Images)

In an interview with Yahoo Finance, Henrik Fisker, CEO and chairman of Fisker, said discussions with one automaker were advanced, although he would neither confirm nor deny that it was Nissan.

“What we said is that we are [in] Negotiating with an OEM [original equipment manufacturers] for electric vehicle development and production in the US and an investment,” Fisker said. “I think we started talking to several OEMs over six months ago, so obviously we've already done a lot of work, so I'm hoping this deal will close as quickly as possible that we're working on.

While talks of a cash injection and strategic partnership with an established automaker are welcome news, it hasn't been enough to allay doubts about Fisker's precarious condition. Shares of the electric vehicle maker plunged nearly 34% on Friday and have been below $1 since early January.

Fisker is optimistic about the future, although he has concerns about a liquidity crisis and a stock price that doesn't comply with NYSE rules as it trades below $1.

The story goes on

“I would say [despite] Despite the ongoing general decline in electric vehicles, we are still seeing a lot of interest in our vehicles. “The electric vehicle market has been difficult over the last few months, but I think with our transition to the dealer model we will actually increase our sales more than we have,” Fisker said. “We had 250% sales growth from Q3 to Q4, with the guidance we are currently tracking, we continue to see sales growth despite the drop in electric vehicles.”

Wall Street reacts to Fisker's outlook

Fisker CEO Henrik Fisker unveils the all-electric off-road Ocean called Force E during its first Product Vision Day on August 3, 2023 in Huntington Beach, California. (FREDERIC J. BROWN/AFP via Getty Images) (FREDERIC J. BROWN via Getty Images)

Citi analyst Itay Michaeli generally thinks Fisker's only product, the Ocean EV, is promising and isn't surprised that a major automaker is interested in investing in Fisker, but that's not enough to give him confidence maintained in Fisker.

“Entering such an agreement would likely be a major benefit for Fisker, but it is difficult to base an investment thesis solely on that, and we would have liked to see more progress made on this front,” Michaeli wrote in a note to investors . Michaeli downgraded the stock to Neutral/High Risk (equivalent to Hold) and lowered his price target to $0.80 from $4.

In the fourth quarter, Fisker reported revenue of $200.1 million, missing Bloomberg consensus estimates of $272.9 million, and a net loss of $463.6 million, well above the expected loss of $82 .7 million US dollars.

Fisker's challenges in establishing its direct-to-consumer model led the company to seek traditional dealer partnerships. The company said it now has 12 dealer partners and over 250 interested dealers.

While talks of new partnerships and a dealer distribution network are promising, investors' biggest concern is Fisker's lack of liquidity.

“If the company had sufficient liquidity until 2025, the risk-reward ratio here would probably be interesting, as the share price has come under considerable pressure,” wrote Michaeli. “But with liquidity reserves tightening and accounting/reporting issues still unresolved, it is difficult to make an investment case here in such a poor situation [near-term] Visibility.”

Pras Subramanian is a reporter for Yahoo Finance. You can keep following him Twitter and on Instagram.

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Nvidia closes at $2 trillion valuation as Dell drives AI rally

Business News / By Ashley Cornell, email: [email protected]

By Noel Randewich

(Portal) – Nvidia's stock market value closed above $2 trillion for the first time on Friday after an upbeat report from Dell Technologies reignited Wall Street's AI-powered rally.

Nvidia shares rose 4% after Dell, which sells high-end servers powered by Nvidia processors, gave an upbeat forecast late Thursday that pointed to a surge in orders for its AI-optimized servers.

Shares of Dell rose as much as 38% to a record high before ending the session up 32%.

Friday's rally put Nvidia's market capitalization at $2.06 trillion, making it Wall Street's third most valuable company behind Microsoft and Apple at $3.09 trillion and $2.77 trillion, respectively.

Super Micro Computer, another company that sells servers made with Nvidia chips, rose 4.5%.

Other AI-related chipmakers rose to record highs, with Broadcom and Marvell Technology each rising about 8%, while Advanced Micro Devices rose over 5%.

The PHLX chip index rose 4.3% to its own record high, extending its 2024 gain to 18%.

Nvidia controls about 80% of the market for high-end AI chips. Customers include ChatGPT developer OpenAI, Microsoft, Alphabet and Meta Platforms, which are securing scarce supplies of its components to compete in the fast-growing generative AI sector.

The company has recently become Wall Street's most traded stock in terms of value, replacing Tesla. Investors swapped an average of $36 billion worth of Nvidia shares over the last 30 sessions, compared to $21 billion a day for Tesla.

Trading in Nvidia shares reached $38 billion on Friday.

On February 23, the Santa Clara, California-based company added $277 billion to its stock market value in just one session, a Wall Street record, after forecasting a roughly three-fold increase in quarterly revenue.

Nvidia shares are now up 66% in 2024 after more than tripling last year. Last month its market value surpassed Amazon and Alphabet.

The story goes on

A week ago, Nvidia's stock market value rose just above $2 trillion for the first time before declining again at the end of the session.

According to LSEG data, Saudi Aramco has a market capitalization of $2.045 trillion, although more than 90% of it is closely held by the government of Saudi Arabia and less than 2% of its shares are available for trading by investors.

(Reporting by Noel Randewich; Editing by Kirsten Donovan and Will Dunham)

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Opinion: Why it was time for Oprah to quit Weight Watchers

Business News / By Ashley Cornell, email: [email protected]

Kevin Winter/Getty Images

Oprah Winfrey speaks onstage during the 29th Annual Critics Choice Awards on January 14, 2024 in Santa Monica, California.

Editor's note: Kellie Carter Jackson is the Michael and Denise Kellen '68 Associate Professor in the Department of Africana Studies at Wellesley College. She is the author of We Refuse: A Forceful History of Black Resistance and co-host of the podcasts This Day in Esoteric Political History and You Get a Podcast! The views expressed here are her own. Read more opinion on CNN.

CNN –

This week, Oprah Winfrey announced that she would step down from the board of the Weight Watchers (WW) brand and sell her 10 percent stake in the company. Many will remember when Oprah began her partnership with WW almost ten years ago. At the time, the company was struggling to make new profits, and Oprah's Midas touch took the company and its shares to new heights.

Who can hear Oprah’s famous “I. Love. Bread.” commercial? With slogans like: “Eat bread. Lose weight. Whaatttt?” She also had me on bread. I remember joining WW shortly after the birth of my second child in the early years of Oprah's partnership. America has followed Oprah on every major weight loss trend for decades, and this was no exception.

At the height of Oprah's daytime talk show, viewers tuned in five days a week to learn “how to live their best life.” Oprah illustrated the many ways to achieve wellness, and the topic of weight loss dominated her 25-year life, for better or worse. In 1988, she rolled out 67 pounds of animal fat in a red wagon to illustrate how much weight she had lost on a 30-day liquid-only diet. She later deeply regretted the stunt, calling it a “big, big, big, big, big, big, big mistake!”

In 1994, Oprah ran her first marathon to celebrate her 40th birthday. Her time at the Marine Corp Marathon was 4:29:15, which became the benchmark to beat for any celebrity who wanted to beat Oprah. She graced the cover of Runner's World in a matching coral spandex sports bra and running shorts with the caption: “Oprah did it, you can too.” In 2008, Oprah sparked a vegan craze when she and the The entire staff of her production company Harpo Studios decided to adopt a vegan diet for a short time.

Mark Wilson/AP

U.S. Marine Corps personnel escort Oprah Winfrey and her partner Stedman Graham to the starting line of the 19th Marine Corps Marathon on October 23, 1994.

Throughout her professional life, Oprah's struggles with weight loss and weight gain have been iconic. But this year also saw Oprah turn 70, and the public still can't let go of their gaze on her body and her health journey. During her red carpet events for the premiere of The Color Purple, the internet was once again obsessed with Oprah's tiny waist and thinner figure. The question arose as to whether Oprah was taking medical weight loss medications such as Ozempic or Wegovy. She is known for her transparency and shared that she was actually taking weight loss medication. Perhaps she hoped her own choices would remove the stigma associated with medical procedures.

WW has also strategically launched a plan for its members to utilize weight loss medications and even telehealth services to offer virtual prescriptions to patients when appropriate. Oprah's departure from WW comes at an interesting time in our weight-obsessed culture.

What happens when our goal of “living our best life” no longer requires 30-day liquid diets, marathons, or a vegan diet? While many will certainly see this as a progressive change, I'm not sure Oprah's departure from WW is a fulfilling moment. The solution to weight loss seems to be to “take the shot” or “take a pill.” In some ways, it feels like the culture is out to figure out what “fat” actually is. Scientists still don't have a definitive answer to what makes someone fat; It's not just what you eat or how much you eat. Most Americans are convinced that fat or obese people are always unhealthy: That's not true. Additionally, the public is generally led to believe that thin people somehow cannot be sick. These ideas harm everyone.

Charles Bennett/AP

In 1988, Winfrey transported 67 pounds of animal fat in a red wagon to illustrate how much weight she had lost on a 30-day liquid-only diet. She later deeply regretted the stunt, calling it a “big, big, big, big, big, big, big mistake!”

When Oprah steps down, many people will lose their measure or reference point for what is ahead or behind the curve when it comes to their weight and health. Hollywood has taken its fixation on thinness to new levels. But celebrity voices are hardly needed when social media influencers can shake up the culture with their medical weight loss journeys for all to see. The dopamine rush from shedding more pounds drowns out any canaries in the coal mine pointing out the potentially harmful side effects of Ozempic and other similar drugs.

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Oprah's departure will also have special meaning for the black community. As a result of their announcement, the value of WW shares fell by 25%. Oprah stated that she would donate her shares to the National Museum of African American History and Culture. While it may seem like a significant donation to the museum, the shares are only as valuable as the company, which has just suffered a major blow. For the museum to see a blessing, the company must continue to do well. One might also wonder what it means for the country's preeminent black history museum to be economically tied to a weight-loss company.

Ultimately, Oprah can do whatever she wants with her money, her time, and her talents. Resignation is their prerogative. But perhaps it's finally time for our culture to also abandon its obsession with Oprah's body — and with it its anti-fat bias and its attachment to seemingly quick fixes to much bigger problems.

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Revenu Québec can now communicate via SMS

Business News / By Ashley Cornell, email: [email protected]

Revenu Québec could now communicate with you via text message or email, a new development that is causing concern for a consumer watchdog group because text messages are often a symbol of fraud.

Previously, if you received an SMS from Revenu Québec, you could immediately conclude that it was phishing, as this department did not use this method of communication.

This made it easy to make the population aware of the risks of phishing. The advice was always the same: ignore text messages from Revenu Québec.

VAT News

But this year you will see in your income tax return that it is possible to allow Revenu Québec to communicate with you via SMS and email. To do this, it is necessary to enter the information on lines 10, 10.1 and 10.2, which were added to the income tax form this year.

Revenu Québec says it will not use text messages and emails to request personal information or notify taxpayers of payment.

These communication channels are used to inform taxpayers about a change in their bank details, address, email address and after receipt of the income tax return.

The Association for the Protection of Consumer Interests of the North Coast believes that it would have been better if Revenu Québec had stopped using text messaging.

Listen to the economy part with Michel Girard above QUB :

According to its coordinator Frédéric Boudreault, this is an invitation to malicious individuals who are particularly active during tax season.

“By enabling text message communication with taxpayers, it opens the door to these attacks and fraud.” It is the taxpayer’s responsibility to determine which text message from Revenu Québec is genuine and which is fraudulent. The responsibility now lies with him,” he emphasized.

Even if you do not complete the fields for Revenu Québec to send you text messages or emails, the organization may still send you some, as described in the Frequently Asked Questions section of the website.

Revenu Québec had not responded at the time of writing.

Revenu Québec can now communicate via SMS Read More »

Trump Media was sued by co-founders and threatened to delay the merger

Business News / By Ashley Cornell, email: [email protected]

A flood of lawsuits is threatening to block a shareholder vote on the long-delayed merger of former President Donald J. Trump's social media company and a cash-strapped shell company.

Two early founders of Trump Media & Technology Group have filed a lawsuit seeking to retain their ownership stakes in the company, the parent company of online posting platform Truth Social. The lawsuit, filed under seal in Delaware Chancery Court on Wednesday by a partnership led by Wes Moss and Andy Litinsky, alleges that Trump Media is seeking to dilute its ownership stake in the company, of which Mr. Trump is a majority shareholder.

The lawsuit seeks an expedited hearing in a Delaware court before Digital World Acquisition Corp. shareholders. on March 22nd to vote on their merger with Trump Media. Digital World is a special purpose acquisition company created to raise money from investors in an initial public offering and use that money to find a private company, such as Trump Media, to purchase.

Mr. Moss and Mr. Litinsky were contestants on Mr. Trump's real estate television show “The Apprentice” and came to him in January 2021 with the idea of starting a social media company.

Former Digital World CEO Patrick Orlando has also filed a lawsuit in Delaware demanding additional shares in the company. And Digital World has filed its own lawsuit in Florida state court, arguing that Mr. Orlando, who was the sponsor of the IPO, was not entitled to additional shares because of his “stinginess, incompetence and general refusal to act” in the company's best interests.

Digital World raised $300 million in an initial public offering in September 2021 and about a month later announced its planned merger with Trump Media, which needs the deal to operate Truth Social. Mr. Trump's social media company has said in regulatory filings that it may not survive without a new source of funding.

In a regulatory filing on Friday, Digital World raised the prospect of rejecting the merger for Mr. Orlando, who remains a board member. Mr. Orlando's group owns about 15 percent of Digital World shares; The majority of the remaining shares are held by around 400,000 private investors. Another filing raised the prospect of possible lawsuits that could delay the merger.

After the merger, Mr. Trump would own 79 million shares of Trump Media. Based on Digital World's current share price of $39, Mr. Trump's stake would be worth $3 billion. The potential merger comes as he needs to find the money to pay a $454 million fine following a New York judge's ruling in a civil fraud case.

By merging with Digital World, Trump Media would not only receive an influx of cash to fund its operations, but also publicly traded stock that can be used to finance acquisitions. As chairman of Trump Media, the former president received the lion's share of shares because his name was important to the company's success. He would be the largest shareholder if the merger with the public company was completed.

Shares of Digital World have soared as Mr. Trump inched closer to the Republican nomination for president and the prospect of a deal being finalized later this month. The stock price has risen even though advertising on Truth Social has been lackluster.

Mr. Orlando's company, which sponsored Digital World, would be Trump Media's second-largest shareholder.

Mr. Orlando's lawsuit comes months after he resigned as chief executive of Digital World and a settlement was negotiated with the Securities and Exchange Commission. Last summer, Digital World agreed to pay an $18 million penalty to resolve allegations that the company had improper merger discussions with Trump Media before its IPO. SPACs should not have a deal before their IPO

In the settlement agreement, Digital World's chief executive, who was not named but identified by his job title, was described by regulators as having been instrumental in the initial contract negotiations. In its lawsuit filed against Mr. Orlando, Digital World said that Mr. Orlando received formal notice from the SEC that an enforcement action may be brought against him.

Mr. Orlando was not accused of wrongdoing. He declined to comment and his attorney did not respond to a request for comment.

Susan C. Beachy contributed to the research.

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Walgreens and CVS begin selling abortion pills in some states

Business News / By Ashley Cornell, email: [email protected]

Walgreens and CVS said Friday that they are preparing to start making the abortion pill mifepristone available as early as next week in states where it is legal.

Walgreens said it has completed the Food and Drug Administration's certification process to sell mifepristone and expects to do so within a week. “We are beginning a phased rollout at select locations to ensure quality, safety and privacy for our patients, providers and team members,” the company said.

CVS said it is “working with manufacturers and suppliers to secure the drug and is not yet dispensing it at any of our pharmacies,” adding that it will “begin issuing prescriptions for the drug in the coming weeks.” Massachusetts and Rhode Island will begin and expand.” to other states, if permitted by law, on an ongoing basis.”

The move by two of the country's largest pharmacy networks promises to expand availability of the drug, which is the subject of a legal dispute over whether the Food and Drug Administration properly approved it and which now faces a decision in the U.S. Supreme Court.

The news was first reported by The New York Times.

The FDA changed its risk protocol for mifepristone in January 2023, allowing pharmacies to become certified to dispense the drug to prescription patients as long as they meet the agency's requirements.

Walgreens has come under pressure from both sides of the abortion debate. The company angered abortion rights advocates last year by saying it would not provide abortion pills in 21 states, including four states where abortion is still legal. There were also protests from anti-abortion activists who objected to Walgreens even selling abortion pills.

Mifepristone works by blocking a hormone necessary for a pregnancy to develop and is used in combination with another drug in more than half of all abortions in the country. It was originally approved more than 20 years ago by the FDA, which then relaxed its regulations for obtaining it.

A decision by the appeals court would make access to the medication more difficult. The Biden administration and the manufacturer of mifepristone are asking the Supreme Court to overturn this ruling. The justices agreed to hear the case in December and have scheduled a hearing for oral arguments later this month.

Walgreens said Friday that it would begin dispensing mifepristone at certain locations in New York, Pennsylvania, Massachusetts, California and Illinois. The company said it would not specify which pharmacies would carry the drug “in the interest of pharmacist and patient safety.”

This is a developing story and will be updated.

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