Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images The Federal Deposit Insurance Corp. will unveil this week a new investment fund backed by corporate giants that
Small Business
When Tina McGonagill wanted to expand her food container business, she took on an investor she met at a trade show. For $50,000, she gave Trent Lowenstein a 20% stake in Big Fat Lunch. Yet before she spent the money, the two were at odds over the best strategy to increase profits. McGonagill wanted to
Phil Roeder Congressional Democrats are considering reforms to the 20% pass-through tax deduction as part of a $3.5 trillion federal spending package. Democrats’ proposal would phase out the tax break for business owners with taxable income exceeding $400,000, according to a discussion list obtained by CNBC. It would also make the tax cut available to
Zach Gibson | Getty Images News | Getty Images The Covid pandemic caused a backlog of nearly 8 million paper-filed business tax returns at the IRS in 2020, according to a report issued Tuesday by a U.S. Department of the Treasury watchdog. That represents a 3,230% increase relative to the end of 2019, when the