Income – Club Mouche Odet http://club-mouche-odet.com/ Fri, 21 Jan 2022 17:36:22 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://club-mouche-odet.com/wp-content/uploads/2021/06/icon-3.png Income – Club Mouche Odet http://club-mouche-odet.com/ 32 32 7 tips to start earning passive income, from 3 millennial entrepreneurs https://club-mouche-odet.com/7-tips-to-start-earning-passive-income-from-3-millennial-entrepreneurs/ Fri, 21 Jan 2022 17:36:22 +0000 https://club-mouche-odet.com/7-tips-to-start-earning-passive-income-from-3-millennial-entrepreneurs/ You don’t need a lot of money to start investing or starting a business that generates passive income. Create a monthly calendar and work with a community to hold yourself accountable and celebrate your victories. You don’t need the perfect product, or know-it-all, to get started. Read more stories from Personal Finance Insider. Loading Something […]]]>
  • You don’t need a lot of money to start investing or starting a business that generates passive income.
  • Create a monthly calendar and work with a community to hold yourself accountable and celebrate your victories.
  • You don’t need the perfect product, or know-it-all, to get started.
  • Read more stories from Personal Finance Insider.

Everyone wants to make money while they sleep.

Getting started is the hardest part, especially if you feel like you don’t know the right people, don’t have enough money to make your idea a reality, or just don’t know what to do to win. passive income.

Here are seven tips for starting new passive income streams, from three millennial entrepreneurs who have earned at least six figures in passive income.

1. Start small

Tiffany James, 26, gradually invested $10,000 in the stock market in 2019, and has since earned her first million as an investor. She now teaches other black women how to earn passive income by investing in the stock market called Modern Black Girl (MBG).

When people ask James how to start earning passive income, their biggest fear is usually not having enough money to invest. She replies, “How many times have you been to brunch this summer?” James suggests redirecting that $60 bill to an investment and watching what happens.

2. Join a community to empower yourself

James says the key to his success is finding a community to help keep him accountable. Through MBG, she and her friends can get into stocks, bonds, long-term LEAPs, and many other niche knowledge in the stock market.

James began investing with a group of black creatives who shared the same values ​​and had similar life experiences. These relationships held her accountable and inspired her to create her own community specifically for black women, where she felt a “big sister-little sister connection.”

3. Start with what you know

Jasmine McCall struggled with bad credit for years. McCall, 30, has spent hours researching her consumer rights, disputing negative scores on her credit report and paying off her debts. She now shares her credit expertise by offering digital courses that help people improve their own credit – a passive income stream that has brought in $100,000 in just four months.

McCall started with what she knows best: how to boost her credit rating and how to hold herself accountable to credit collection agencies. With this knowledge, she was able to create a passive income stream that helps others.

4. Listen to what your community needs

McCall’s products flew off virtual shelves once she started promoting them on YouTube. Along with helping her generate sales, she was able to monetize her videos and earn an additional $3,000 per month.

“I didn’t go there with the intention of being a creator,” she says, “but there were so many additional questions that I had to keep creating content.” McCall’s understanding of the needs of her community has helped her create the most effective products in a short time.

5. Plan to refine your methods over time

Shaan Patel, 32, co-founder and CEO of the SAT and ACT prep company called Preparation Specialist, earns $12,000 a month in passive income from selling digital courses.

Patel says he follows Malcolm Gladwell’s 10,000 hour rule, which states that it takes 10,000 hours to truly master a skill. “Do I think you have to have 10,000 hours before you start? Absolutely not,” Patel says candidly.

He adds that “a few hundred hours” should be enough to release the first version of your product. (In fact, Gladwell’s rule has been refuted.) “When I developed my first SAT course, I was probably at 500 hours,” says Patel. “But over the past 10 years, I’ve spent over 10,000 hours perfecting my lessons.”

6. Get Organized

In addition to digital courses, Patel has six other sources of income that help him earn $25,000 every year. Along with practicing as a doctor and running her own business, Patel says creating a monthly schedule to prioritize passive income is key to making this happen.

“Given my own busy schedule, I plan the fifteenth of every month to invest and find new ways to maximize passive income,” he says. During this period, Patel compares interest rates, weighs the pros and cons of different investments, and moves his money accordingly.

7. Start simple

Whether you start with $100, a flawed product, or something as basic as a simple 401(k) employer match, James, McCall, and Patel all recommend starting simple. Start investing $10 to $100 each month in an income-generating project. Even sitting down for coffee with someone you admire matters. Start investing time in researching stocks, cryptocurrencies or bonds.

Patel suggests starting small, with a high-yield savings account. “Once you get $10 or $20 interest deposited into your account, you will become hooked and look for other ways to maximize passive income streams.”

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Palmieri offers property tax exemptions for low-income seniors https://club-mouche-odet.com/palmieri-offers-property-tax-exemptions-for-low-income-seniors/ Wed, 19 Jan 2022 19:33:10 +0000 https://club-mouche-odet.com/palmieri-offers-property-tax-exemptions-for-low-income-seniors/ UTICA, NY (WUTR/WFXV/WPNY) – Mayor Palmieri today announced two legislative proposals that would help low-income seniors in the city of Utica. “These are the same people who were the foundation of our great city. The fact that they make that minimum amount of money and then compromise the fact that they might lose their house, […]]]>

UTICA, NY (WUTR/WFXV/WPNY) – Mayor Palmieri today announced two legislative proposals that would help low-income seniors in the city of Utica.

“These are the same people who were the foundation of our great city. The fact that they make that minimum amount of money and then compromise the fact that they might lose their house, I think that’s the only thing to do. – Mayor Robert Palmieri, City of Utica

The mayor proposed a two-step solution. First, the income cap for the exemption would increase from $15,000 to $18,500. The second step would be to introduce a sliding scale that would gradually decrease the exemption as the level of income increases. Any senior with an income of less than $18,500 would retain a 50% exemption from their property taxes.

“What happened is that Social Security went up 5.9% and some of those old people wouldn’t benefit from the partial taxes because they went from $15,000 to about $16,000-17,000. $ and they would have to pay their full taxes, which unfortunately they could never afford to do. – Mayor Robert Palmieri, City of Utica

Mayor Palmieri says this will have an impact on taxpayers.

“About $150,000 to get us from that threshold from $15,000 to $18,000. But I think the biggest impact at this point will be if we don’t do anything. – Mayor Robert Palmieri, City of Utica

Legislation will be presented to the common council who will then discuss and vote on the legislation.

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First generation low income (FGLI): an evolving term https://club-mouche-odet.com/first-generation-low-income-fgli-an-evolving-term/ Tue, 18 Jan 2022 00:01:36 +0000 https://club-mouche-odet.com/first-generation-low-income-fgli-an-evolving-term/ Several years ago, as a new student, I was blessed with an “aha” moment recognizing an extension of my personal identity. For me, the feeling of incorporating terms and labels that I was previously unaware of, but immediately clicking on hearing them, is unparalleled. A series of detailed personal information forms, frequent engagement with an […]]]>

Several years ago, as a new student, I was blessed with an “aha” moment recognizing an extension of my personal identity. For me, the feeling of incorporating terms and labels that I was previously unaware of, but immediately clicking on hearing them, is unparalleled. A series of detailed personal information forms, frequent engagement with an affinity group, or some other spontaneous event can lead to reconsideration and the discovery of terminology that helps us better express the identities that encompass our individual being.

One such identity that is not immediately apparent to some individuals, myself included, is their status as a first-generation student. The first generations are generally known as students who are the first in their families to attend university. The criteria for some definitions vary based on differences in where the parent or guardian graduated or the level of education obtained, such as an associate’s degree or a bachelor’s degree. the Official University of Michigan definition A first-generation student—which coincides with the definition that most colleges have laid out—is a student whose parents have not completed a four-year college degree. On the other hand, low-income students are generally defined based on Pell Grant status, but similar definitions are also based on institution-specific assets and income thresholds.

First-generation students are likely to give a variety of responses when asked when they first learned of their status. Some were aware of the delineation of their identity before applying to colleges, while others were informed in the middle of their graduate journey. FAFSA applications, discussions with parents about the future, and a sense of bewilderment in a new environment can all serve as factors that lead to this revelation about how their identity is perceived within institutions.

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What to know before filing in Michigan https://club-mouche-odet.com/what-to-know-before-filing-in-michigan/ Fri, 14 Jan 2022 17:02:48 +0000 https://club-mouche-odet.com/what-to-know-before-filing-in-michigan/ MICHIGAN — The 2022 tax season is upon us — and as W-2s and other tax forms hit American mailboxes, many Michigan residents will be wondering when they can file and what changes are in store for their returns. This year. The first day to file 2021 tax returns is January 24, according to the […]]]>

MICHIGAN — The 2022 tax season is upon us — and as W-2s and other tax forms hit American mailboxes, many Michigan residents will be wondering when they can file and what changes are in store for their returns. This year.

The first day to file 2021 tax returns is January 24, according to the Internal Revenue Service. This is two weeks earlier than last year.

As the Internal Revenue Service grapples with staffing shortages, backlogs and aging technology, watchdog groups are encouraging taxpayers to file their 2021 returns as soon as possible before the Monday, April 18 tax deadline. They must also file electronically.

RELATED: IRS ‘in crisis’: why taxpayers should file early, avoid paper

This is the second year that Americans will be filing tax returns that will likely be significantly different from previous years due to the ongoing coronavirus pandemic. One of the biggest changes that could affect filing this tax season is the expansion of child tax credit payments received by a large majority of Americans.

Before you file your return, here’s everything you need to keep in mind about the 2022 income tax season:

How will child tax credit advance payments affect my return?

In the last six months of 2021, millions of families received monthly payments based on the number of children in their household as well as their age. These very first prepayment of child tax credit could affect your tax return in different ways, according to a report by Forbes.

First, filers will be required to report the amount they received in payments. Depending on the amount of child tax credit payments received in 2021, filers may receive a larger or smaller tax refund than expected. They may even owe additional taxes.

To determine if you owe additional taxes, the IRS will send you Letter 6419, which will show the total amount of child tax credit payments you received. You should compare this amount to the total child tax credit to which you are entitled.

If the total child tax credit you are entitled to exceeds the amount you received, you can claim the remaining amount on your 2021 tax return. If you received more than you are entitled to, you will have to repay some or all of the overpayments when filing income tax.

The IRS has more answers to questions about prepayment of child tax credit on its website.

What about the COVID-19 stimulus payment I received this year?

If you received a stimulus payment between March and December 2021, you will receive letter 6475 from the IRS in early 2022, which indicates the amount of your third stimulus payment. Do not throw away this letter. You will need it to claim payment of your taxes.

The 6475 letter will also help determine if you qualify for the salvage rebate tax credit.

The Recovery Rebate Tax Credit Worksheet will be used to claim any additional payments you may be owed on your 2021 tax return. This is especially important if you did not receive a stimulus payment or you only received partial payment.

If you qualify for the salvage rebate tax credit but do not typically file a tax return, you will need to file your tax return in order to receive the funds owed.

Learn more about this year’s Economic Impact Payments and Salvage rebate tax credit.

What if I received unemployment benefits this year?

Unemployment fell sharply last year. Yet 25 million Americans have filed a claim unemployment benefits in 2021, CNBC reported.

The American Rescue Plan Act passed in March eliminated federal tax on up to $10,200 of unemployment benefits, per person, collected in 2020; however, Congress has not passed legislation providing similar tax relief on 2021 benefits.

This means that if you received unemployment benefits in 2021 and did not withhold any federal tax from the benefit payments – or withheld too little – you may owe money this tax season.

If I donated to charity, do I need to itemize the deductions?

Not necessarily. If you plan to claim the standard deduction on your 2021 tax returns, you can actually deduct up to $600 in charitable contributions.

In 2020, a charitable donation deduction of $300 was allowed under the CARES — Coronavirus Aid, Relief and Economic Security — Act. This year, however, the charitable deduction is more for those who file a joint return.

For 2020, the charitable limit was per “tax unit” — meaning those who are married and filing jointly could only get a $300 deduction. For the 2021 tax year, those who are married and filing jointly can each take a $300 deduction for a total of $600.

Under this change, individual taxpayers can claim an “over the line” deduction of up to $600 in cash donations to qualifying charities in 2021. This means the deduction reduces both gross income and taxable income, which translates into tax savings for those who donate. to the qualifying tax-exempt organization.

Am I entitled to the earned income tax credit?

The Earned Income Tax Credit exists to help middle-to-low-income individuals and families reduce the amount of taxes they pay and may help them get more refunds, according to the IRS.

The IRS has an online tool to see if you qualify for the credit.

What is the standard deduction for 2022?

The standard deduction is a dollar amount that reduces the amount of income you are taxed on and varies depending on your filing status.

The standard deduction for each filing status for the 2022 tax year has changed slightly from 2021, according to the IRS:

  • Filing separated or married separately: $12,950, up $400 from 2021.

  • Married jointly filing or eligible widow: $25,900, up $800 from 2021.

  • Head of household: $19,400, up $600 from 2021.

Other federal changes for the 2022 tax year are listed here.

What are the tax brackets and thresholds for single filers this year?

10 percent – $0 to $9,950
12 percent – $9,951 to $40,525
22 percent – $40,526 to $86,375
24 percent – $86,376 to $164,925
32 percent – $209,426 to $523,600
35 percent – $416,701 to $418,400
37% — $523,601 or more

When is Tax Day this year?

For most taxpayers, the deadline to submit 2021 tax returns or to file an extension to pay taxes owed is Monday, April 18. Taxpayers in Maine or Massachusetts have until April 19 to file their returns. Taxpayers requesting an extension will have until October 17 to file their case.

This article originally appeared on the Detroit Crest

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Fairmont State University receives NSF grant of $ 749,693 to support low-income STEM majors https://club-mouche-odet.com/fairmont-state-university-receives-nsf-grant-of-749693-to-support-low-income-stem-majors/ Wed, 12 Jan 2022 21:38:40 +0000 https://club-mouche-odet.com/fairmont-state-university-receives-nsf-grant-of-749693-to-support-low-income-stem-majors/ FAIRMONT, W.Va. – Fairmont State University has received a six-year grant totaling $ 749,693 under the National Science Foundation’s Science, Technology, Engineering and Mathematics (S-STEM) Scholarship Program. Fairmont State’s project, Bridging the STEM Gap in Appalachia: Engaging with Students to Iteratively Improve Faculty Practices in Support of Student Success, aims to increase enrollment, retention, and […]]]>

FAIRMONT, W.Va. – Fairmont State University has received a six-year grant totaling $ 749,693 under the National Science Foundation’s Science, Technology, Engineering and Mathematics (S-STEM) Scholarship Program.

Fairmont State’s project, Bridging the STEM Gap in Appalachia: Engaging with Students to Iteratively Improve Faculty Practices in Support of Student Success, aims to increase enrollment, retention, and low-income and talented students graduating in science, technology, engineering, and math (STEM) fields.

The degree programs affected by this grant include bachelor’s degrees in computer science (also a concentration in cybersecurity), mathematics, biology, chemistry, forensics, civil engineering technology, mechanical and electrical, security at work and in surveying and geomatics engineering technology.

Over a six-year period, Fairmont State’s S-STEM program will recruit and directly support 18 low-income undergraduates in grades one to four in college, and facilitate opportunities for gainful employment afterwards. graduation.

In addition to receiving a scholarship, these students will also participate in special programs both in and out of the classroom to help ensure their success. S-STEM students will be invited to be part of a STEM living and learning community, and they will interact regularly with their teachers and peer mentors, especially during their first year. Partnerships with local and regional industries will also provide unique opportunities for students.

“There is a vast STEM divide in the Appalachians, and nowhere is this abyss more deeply felt than in West Virginia,” said Mirta M. Martin, president of Fairmont State University. “While our state is teeming with academic talent, many of these young students simply don’t have access to the types of opportunities that will allow them to grow as STEM academics and pursue STEM careers. The S-STEM program – a program that goes beyond scholarships and includes mentoring, student success initiatives, unique learning experiences, and career guidance – will go a long way in bridging the gap in opportunities for students. from West Virginia interested in STEM fields. I, along with our expert teacher-mentors who teach STEM fields here at Fairmont State, are thrilled to be a part of this vital and groundbreaking project.

As part of this program, faculty and peer mentors will benefit from active and ongoing professional development on topics related to mentoring, counseling, and student engagement techniques. S-STEM students will be involved in providing feedback to help keep the program student-centered.

The six-year project will be led by Dr Robert Niichel, Associate Professor of Mathematics, who will be assisted by Dr Jojo Joseph, Assistant Professor of Chemistry and Ms Abby Chapman, Assistant Professor of Occupational Safety. The project will also be supported by a team of faculty from the College of Science and Technology and staff from across campus.

“We hope that our program will change the course of the lives of our students and help us improve our STEM teaching and guidance,” said Niichel. “And, I think we’ve developed a program that can do that.”

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EverGrow Coin Distributes BUSD 32 Million In Crypto-Passive Income https://club-mouche-odet.com/evergrow-coin-distributes-busd-32-million-in-crypto-passive-income/ Tue, 11 Jan 2022 00:49:07 +0000 https://club-mouche-odet.com/evergrow-coin-distributes-busd-32-million-in-crypto-passive-income/ NEWARK, DE / ACCESSWIRE / January 10, 2022 / EverGrow Coin is a newly launched cryptocurrency and the first to generate passive crypto income in BUSD. Launched only 3 months ago with a very small market cap, EverGrow Coin has become one of the fastest growing projects in the Binance chain. EverGrow Coin contracts have […]]]>

NEWARK, DE / ACCESSWIRE / January 10, 2022 / EverGrow Coin is a newly launched cryptocurrency and the first to generate passive crypto income in BUSD. Launched only 3 months ago with a very small market cap, EverGrow Coin has become one of the fastest growing projects in the Binance chain. EverGrow Coin contracts have distributed over $ 32 million to its holders and are quickly becoming the first choice for crypto investors looking to earn tangible passive income without any hassle.

Evergrow Coin contracts are designed such that 14% of the tokens from each transaction, including purchases and sales, are automatically deducted and sent to the contract. 8% of the collected tokens are distributed to its holders in BUSD, while the remaining tokens are converted into BNB and used for the liquidity pool and redemption. The contract is also equipped with an advanced redemption and burn function, helping to burn tokens every day. BUSD is a regulated stablecoin indexed 1: 1 to the US Dollar launched by the largest cryptocurrency exchange Binance. With its anti-whale system, EverGrow Coin discourages sales of whales by limiting any sale amount to a maximum of 0.125% of the circulating supply.

Although crypto mining is a profitable business, it has limitations including a high barrier to entry due to expensive mining equipment. EverGrow Coin is proving to be an alternative for hassle-free passive income in crypto. Being the first cryptocurrency that rewards its users with $ BUSD, EverGrow Coin is a favorite among all cryptocurrencies.

EverGrow Coin The ecosystem includes several utilities that include an NFT lending platform and a marketplace on Binance Smart Chain. NFTs have taken 2021 by storm. With billions traded in non-fungible tokens and a strong community behind the tech. NFTs have taken 2021 by storm. With a strong community behind the technology and billions traded in non-fungible tokens, we see NFTs being adopted by industries as diverse as finance, medicine, gaming, and the arts. . The EverGrow lending platform aims to become a major part of this revolution by enabling NFT collectors and owners to borrow cash by keeping their NFTs as collateral without selling their property. EverGrow Coin has also started beta testing of its content creation platform, “Crater”. The platform will allow creators to sell exclusive content to their fans. The platform will include both crypto and fiat gateways and charge the lowest commission rates compared to existing solutions. If properly managed and inducted into the crypto world, it will propel EGC as one of the most important crypto giants in history.

Due to the recent collapse in the prices of cryptos such as Bitcoin and BNB, EverGrow Coin has also not been immune to the market downturn. Yet with its low market cap, experienced team, groundbreaking contract, and crypto’s most envied roadmap, EverGrow definitely sets itself apart from other crypto ventures.

Company: EverGrow Coin
Email: contact@evergrowcoin.com
Website: https://evergrowcoin.com/

THE SOURCE: EverGrow Coin

See the source version on accesswire.com:
https://www.accesswire.com/681960/EverGrow-Coin-Distributes-32-Million-BUSD-in-Crypto-Passive-Income

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High Income Securities Fund announces monthly distributions for the first quarter of 2022 https://club-mouche-odet.com/high-income-securities-fund-announces-monthly-distributions-for-the-first-quarter-of-2022/ Thu, 06 Jan 2022 15:09:00 +0000 https://club-mouche-odet.com/high-income-securities-fund-announces-monthly-distributions-for-the-first-quarter-of-2022/ NEW YORK–(COMMERCIAL THREAD) – High Income Securities Fund, Inc. (NYSE: PCF) (the “Fund”) today announced that the Board of Directors of the Fund (the “Board”) has declared the upcoming quarterly dividends in connection with the managed distribution plan of the Fund. As part of the Fund’s managed distribution plan, the Fund intends to pay monthly […]]]>

NEW YORK–(COMMERCIAL THREAD) – High Income Securities Fund, Inc. (NYSE: PCF) (the “Fund”) today announced that the Board of Directors of the Fund (the “Board”) has declared the upcoming quarterly dividends in connection with the managed distribution plan of the Fund.

As part of the Fund’s managed distribution plan, the Fund intends to pay monthly distributions to common shareholders at an annual rate of 10% (or 0.8333% per month) for 2022, based on the value net asset value of $ 8.75 of the common shares of the Fund on December 31, 2021.

The next three dividends for 2022 declared under the managed distribution plan are as follows:

Month

Distribution

Registration Date

Payment date

January

$ 0.073

January 20, 2022

January 31, 2022

February

$ 0.073

February 17, 2022

February 28, 2022

March

$ 0.073

March 22, 2022

March 31, 2022

Under the managed distribution plan, to the extent that sufficient investment income is not available on a monthly basis, the Fund will distribute long term capital gains and / or return of capital. To the extent that the net investment income and net realized capital gains of the Fund exceed the total amount distributed in accordance with the managed distribution plan, the Fund may make an additional year-end distribution. No conclusions should be drawn about the performance of the Fund’s investments from the amount of the distributions. The board may change the terms of the managed distribution plan or terminate the plan at any time without notice to shareholders, which could adversely affect the market price of the common shares of the Fund. The Plan will be subject to a periodic review by the Board, including an annual review of the Annual Fixed Rate to determine if an adjustment should be made.

The Fund will publish a notice to shareholders which will provide an estimate of the composition of each distribution. For tax reporting purposes, the actual composition of the total amount of distributions for each year will continue to be provided on a Form 1099-DIV issued after the end of the year.


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Inadequate answer: on the income criteria to identify the SAP quota https://club-mouche-odet.com/inadequate-answer-on-the-income-criteria-to-identify-the-sap-quota/ Tue, 04 Jan 2022 18:37:00 +0000 https://club-mouche-odet.com/inadequate-answer-on-the-income-criteria-to-identify-the-sap-quota/ ₹ 8 lakh income criteria to identify SAP not reasonably explained by government The submission by a government-appointed committee to the Supreme Court that the annual family income of ₹ 8 lakh is a “reasonable” threshold for determining whether someone belongs to economically weaker sections to benefit from 10% bookings in the admissions and jobs […]]]>

₹ 8 lakh income criteria to identify SAP not reasonably explained by government

The submission by a government-appointed committee to the Supreme Court that the annual family income of ₹ 8 lakh is a “reasonable” threshold for determining whether someone belongs to economically weaker sections to benefit from 10% bookings in the admissions and jobs didn’t seem to hold water. The submission rejected the idea that the government had “mechanically” adopted ₹ 8 lakh as the threshold because it was used to identify the creamy layer of CBO, claiming that the income test was “more stringent” than that. OBC cream. lying down. This rationale, based on a few additional criteria that exclude certain parameters of income and occupation from the creamy layer of the OBC, is, however, not convincing as the key question of the Court has remained satisfactorily unanswered. The Court had stated that the OBC category was socially and educationally backward, and therefore had additional hurdles to overcome, and asked whether “it would be … arbitrary to provide the same income limit for the OBC and EWS ”. The submission does not adequately answer this question. As to whether differences in purchasing power between urban / rural and per capita income / GDP between states were factored into this number, the submission suggests that this exercise would be infeasible and complex. But while claiming that a benchmark of annual family income of ₹ 8 lakh is the right approach, the committee does not present any data on the estimated number of SAP people in the population on this basis.

If available consumer expenditure surveys such as the NSSO 2011-12 report, key household consumption expenditure indicators are any indication, a large portion of the population will be eligible for bookings below the “below 8 lakh” threshold. In the SAP category, making the limit irrational. The committee’s assertion that ₹ 8 lakh is the ‘effective limit of income tax exemption’ even though the only income tax exempt bracket was for those earning less than ₹ 2.5 lakh, also makes the criterion of “being economically weak” less stringent. The submission emphasizes that the results of recent entrance and recruitment exams (NEET, UPSC, JEE) showed a uniform grouping of eligible applicants in different income brackets (0- ₹ 2.5 lakh, ₹ 2.5- ₹ 5 lakh, ₹ 5 – ₹ 8 lakh), but that does not explain why the grade cuts were even lower in recruitment exams than those of socially and educationally backward CBOs. The validity of the 103rd amendment to the Constitution, by which the SAP quota was introduced in 2019, is in any case still before a bench of the Constitution. But the Supreme Court must seek more clarity on the criteria adopted by the government committee to set the income limit to identify the SAP sections eligible for reservations.


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Falling interest income weighs on profits of government-run oil companies https://club-mouche-odet.com/falling-interest-income-weighs-on-profits-of-government-run-oil-companies/ Sun, 02 Jan 2022 15:55:00 +0000 https://club-mouche-odet.com/falling-interest-income-weighs-on-profits-of-government-run-oil-companies/ 02 January 2022, 21:55 Last modification: January 02, 2022, 10:22 PM Infographic: SCT “> Infographic: SCT Padma Oil, Meghna Petroleum and Jamuna Oil – state-owned fuel distributors under the Bangladesh Petroleum Corporation (BPC) – recorded lower profits in the July-September quarter due to lower interest income from their term deposits – income from other income […]]]>

02 January 2022, 21:55

Last modification: January 02, 2022, 10:22 PM

Infographic: SCT

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Infographic: SCT

Padma Oil, Meghna Petroleum and Jamuna Oil – state-owned fuel distributors under the Bangladesh Petroleum Corporation (BPC) – recorded lower profits in the July-September quarter due to lower interest income from their term deposits – income from other income segments.

In fiscal year 2020-21, Padma Oil – the country’s largest and oldest company in this sector, and Meghna Petroleum reported 121% and 79% year-over-year decline in profits, respectively.

Only Jamuna Oil – the first national oil company that came into operation during the Pakistani era in 1964, posted a 2.44% increase in profits in fiscal year 21.

Despite rising and falling profits, all three companies declared the same dividend for fiscal 21 as the previous fiscal year.

According to their financial reports, companies – which have around Tk 10,000 crore in term deposits with different banks – derive around 80 to 90% of their total profits from interest income.

In 2020, the government capped the bank deposit rate at 6%, with the aim of reducing the loan rate to 9%.

Following this decision, banks began to lower their interest rates on deposits. As a result, the decline in interest income has had an impact on the profits of oil companies.

Padma Oil profit drops 121%

In fiscal year 2020-21, the profit of Padma Oil Company, which collects, stores and markets fuel, decreased 121% to Tk 228.58 crore from Tk 272.98 crore a year ago.

Despite declining profits, the company, which also produces and markets petroleum products, lubricants and greases, bitumen, liquefied petroleum gas (LPG) and agrochemicals, declared a 125% cash dividend as l ‘Previous exercice.

In the first quarter of fiscal year 2021-2022, its profit fell 4% to Tk 53.69 crore from Tk 60.51 crore in the corresponding period of the previous year.

Meghna Petroleum profit drops 79%

In fiscal year 2020-21, profit at Meghna Petroleum, which markets petroleum products, fell 79% to Tk 282.14 crore from Tk 307.91 crore the previous year.

In the first quarter of this fiscal year, its profit fell to Tk 65.28 crore from Tk 70.78 crore in the same period a year ago.

In the first three months of fiscal 22, net profit decreased by 3.89% Tk to 65.28 Tk crore compared to 70.78 Tk crore in the same period of the previous fiscal year.

Meghna Petroleum Secretary General Reza Md Riazuddin said at the end of the year that profits had declined due to falling interest income for lower interest rates on deposits.

“Fuel handling has not decreased, therefore the revenues of this sector are relatively stable. However, due to the decrease in revenues from the depots, the profit decreased,” he added.

The company declared a dividend of 150% or Tk 15 per share like the previous year, despite a drop in net profit at the end of the year.

Jamuna Oil profit increases 2.44%

Despite the decline in income from term deposits, Jamuna Oil Company’s profit increased 2.44% in fiscal year 2020-21.

However, in the first quarter of the current fiscal year, the company’s profit fell 1.95% to Tk 40.55 crore from Tk 44.90 crore in the corresponding period last year.

It achieved net profit of Tk 201.4 crore in fiscal year 2020-21, which was Tk 200.16 crore a year ago.

The company declared a 120% cash dividend for its shareholders.

MD Masudul Islam, Secretary of Jamuna Oil Company, said: “The main reason for the drop in profits is the drop in interest income. Most of the profits come from term deposits. However, they have declined, affecting the overall profits of the company.


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You never see boarded up towns in zero income tax states https://club-mouche-odet.com/you-never-see-boarded-up-towns-in-zero-income-tax-states/ Sat, 01 Jan 2022 00:37:50 +0000 https://club-mouche-odet.com/you-never-see-boarded-up-towns-in-zero-income-tax-states/ Texas is the size of a large European country, in terms of population (30 million) and certainly geography. I lived there for sixteen years until last summer. You never see a barricaded town like this. You drive miles and miles and see development after development, business after business, campaign after campaign. Occasionally there is an […]]]>

Texas is the size of a large European country, in terms of population (30 million) and certainly geography. I lived there for sixteen years until last summer. You never see a barricaded town like this. You drive miles and miles and see development after development, business after business, campaign after campaign. Occasionally there is an old American road with a downtown level crossing dating from 1900 that is semi-unoccupied. But somewhere not far away there are construction cranes in action.

Build cranes. How do you put that much in a small place, Nashville, Tennessee? They are everywhere there. Nashville is where I moved from Houston. Houston, Nashville, why so busy? Because that’s where the capital, the investment wants to go. The three richest people in the United States, Elon Musk, Jeff Bezos and Bill Gates, live in Texas for the first and in Washington State for the second and third, respectively.

Each state mentioned so far has no income tax. Boarded up towns are a staple in Ohio, Illinois, Pennsylvania, Michigan, and New York, but not New Hampshire. The first five are income tax statements, the last is not.

Think of Pittsburgh. It has a three percent payroll tax. Pennsylvania has an income tax of 3.07 percent. If a business is considering hiring Pittsburgh-based labor, the wages offered must cover the over 6% income tax bill that workers owe the government. Six percent comes close to standard profit margins in business. In Florida (no income tax), the employer will earn the margin. The investment and hiring takes place in Florida rather than Pittsburgh.

It has been America’s history since the 1970s, when the great wave of state income tax imposition reached its peak, ending with Connecticut’s fatal decision in 1991 to create a tax on income. Investment is running out of steam in income tax states. The bolts of the capital, people leave, cities are barricaded. Zero-tax states are so exploding, worried about the influx of investment, that they are redefining the American dream.

How many people have lived extraordinarily in Washington since Bezos strangely decided to move from New York City in the 1990s to start Amazon? How many are there, concerned about their material success, have given themselves up to horses, vacations, great schools, amazing houses, hobbies, neat careers? Millions. Youngstown, Ohio (income tax from 1972)? A place from which one looks away.

I have a proposal for another place where I lived. This is the pathetic place I grew up in, the little borough immediately east of Pittsburgh called Wilkinsburg. Someone once said that rent control is better than bombing to destroy homes. In fact, the property tax beats them both. Wilkinsburg has a 4.4% property tax on the value of the house plus a 1% payroll tax, and then there’s the Pennsylvania 3% income tax. Search the Internet for pictures. It is unfair for the slums to use this insult in this case.

The situation is so bad that the place has closed its schools. It’s actually a great position. You can reduce tax rates with impunity. There is nothing to lose, no income. If Wilkinsburg eliminated its payroll tax and cut its property tax in half, the prospect is excellent for the place to experience a boom. It is four miles from the world’s largest computer science department, Carnegie Mellon University. If Wilkinsburg cut its overall tax rates like above, call it 60%, the investment would explode. Why build in Pittsburgh when you slip its payroll tax and get the 3% you should have paid your employees if they lived there? They can live next door and only pay state income tax and half the previous property tax rate.

Here’s a business proposition for a centimillionaire, a guy this country breeds like rabbits. With $ 10 million, use $ 5 million to buy and renovate 100 basement (but perfectly boneless) properties in Wilkinsburg. Put the remaining 5 million dollars to the rounding on the condition that it lowers and eliminates the tax rates as above. This will allow the place to overcome any income problems that could be accompanied by a significant reduction in tax rates. Within five years, if the return on the real estate investment of $ 5 million is at least $ 5 million, the borough’s debt is written off. I submit that the return within five years – the location is four miles from Carnegie Mellon – would be 400 percent or more.

Investing doesn’t just follow low or zero tax rates. It is too sweet a verb. She rushes into these places, transforming them into a new state expressing their highest potential. America is in a funny place these days. The country likes to prosper. It has prosperity in its essence. But all the onus – if that’s the right word – of being generous is on the nine zero-tax states. These are the ones mentioned above as well as Nevada, South Dakota, Wyoming, and Alaska. The rush to invest in these states is absurd. You wonder why so many boarded up buildings litter Illinois and the San Francisco Bay Area. Nashville needs the plywood for the concrete forms.


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