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On a Saturday morning, you head to the hardware store. Your neighbors’ Ring cameras film your walk to the car. Your car’s sensors, cameras, and microphones record your speed, how you drive, where you’re going, who’s with you, what you say, and biological metrics such as facial expression, weight, and heart rate. Your car may also collect text messages and contacts from your connected smartphone. Meanwhile, your phone continuously senses and records your communications, info about your health, what apps you’re using, and tracks your location via cell towers, GPS satellites, Wi-Fi, and Bluetooth. As you enter the store, its surveillance cameras identify your face and track your movements through the aisles. If you then use Apple or Google Pay to make your purchase, your phone tracks what you bought and how much you paid. All this data quickly becomes commercially available, bought and sold by data brokers. Aggregated and analyzed by artificial intelligence, the data reveals detailed, sensitive information about you that can be used to predict and manipulate your behavior, including what you buy, feel, think, and do. Companies unilaterally collect data from most of your activities. This “surveillance capitalism” is often unrelated to the services device manufacturers, apps, and stores are providing you. For example, Tinder is planning to use AI to scan your entire camera roll. And despite their promises, “opting out” doesn’t actually stop companies’ data collection. While companies can manipulate you, they cannot put you in jail. But the U.S. government can, and it now purchases massive quantities of your information from commercial data brokers. The government is able to purchase Americans’ sensitive data because the information it buys is not subject to the same restrictions as information it collects directly. The federal government is also ramping up its abilities to directly collect data through partnerships with private tech companies. These surveillance tech partnerships are becoming entrenched, domestically and abroad, as advances in AI take surveillance to unprecedented levels. As a privacy, electronic surveillance and tech law attorney, author, and legal educator, I have spent years researching, writing, and advising about privacy and legal issues related to surveillance and data use. To understand the issues, it is critical to know how these technologies function, who collects what data about you, how that data can be used against you, and why the laws you might think are protecting your data do not apply or are ignored. Big money for AI-driven tech and more data Congressional funding is supercharging huge government investments in surveillance tech and data analytics driven by AI, which automates analysis of very large amounts of data. The massive 2025 tax-and-spending law netted the Department of Homeland Security an unprecedented $165 billion in yearly funding. Immigration and Customs Enforcement, part of DHS, got about $86 billion. Disclosure of documents allegedly hacked from Homeland Security reveal a massive surveillance web that has all Americans in its scope. DHS is expanding its AI surveillance capabilities with a surge in contracts to private companies. It is reportedly funding companies that provide more AI-automated surveillance in airports; adapters to convert agents’ phones into biometric scanners; and an AI platform that acquires all 911 call center data to build geospatial heat maps to predict incident trends. Predicting incident trends can be a form of predictive policing, which uses data to anticipate where, when, and how crime may occur. DHS has also spent millions on AI-driven software used to detect sentiment and emotion in users’ online posts. Have you been complaining about Immigration and Customs Enforcement policies online? If so, social media companies including Google, Reddit, Discord, and Facebook and Instagram owner Meta may have sent identifying data, such as your name, email address, phone number, and activity, to DHS in response to hundreds of DHS subpoenas served on the companies. Meanwhile, the The President administration’s national policy framework for artificial intelligence, released on March 20, 2026, urges Congress to use grants and tax incentives to fund “wider deployment of AI tools across American industry” and to allow industry and academia to use federal datasets to train AI. Using federal datasets this way raises privacy law concerns because they contain a lifetime of sensitive details about you, including biographical, employment, and tax information. Blurring lines and little oversight In foreign intelligence work, the funding, development and controlled use of certain AI-driven gathering of data makes sense. The CIA’s new acquisition framework to turbocharge collaboration with the private sector may be legal with proper oversight. But the line between collaborating for lawful national security purposes versus unlawful domestic spying is becoming dangerously blurred or ignored. For example, the Pentagon has declared a contractor, Anthropic, a national security risk because Anthropic insisted that its powerful agentic AI model, Claude, not be used for mass domestic surveillance of Americans or fully autonomous weapons. On March 18, 2026, FBI Director Kash Patel confirmed to Congress that the FBI is buying Americans’ data from data brokers, including location histories, to track American citizens. As the federal government accelerates the use of and investment in AI-driven spy tech, it is mandating less oversight around AI technology. In addition to the national AI policy framework, which discourages state regulation of AI, the president has issued executive orders to accelerate federal government adoption of AI systems, remove state law AI regulation barriers and require that the federal government not procure the use of AI models that attempt to adjust for bias. But using advanced AI systems is risky, given reports of AI agents going rogue, exposing sensitive data, and becoming a threat, even during routine tasks. Your data The surveillance capitalism system requires people to unwittingly participate in a manipulative cycle of group- and self-surveillance. Neighborhood doorbell cameras, Flock license plate readers, and hyperlocal social media sites like Nextdoor create a crowdsourced record of all people’s movements in public spaces. Sensors in phones and wearable devices, such as earbuds and rings, collect ever more sensitive details. These include health data such as your heart rate and heart rate variability, blood oxygen, sweat and stress levels, behavioral patterns, neurological changes, and even brain waves. Smartphones can be used to diagnose, assess, and treat Parkinson’s disease. Earbuds could be used to monitor brain health. This data is not protected under HIPAA, which prohibits healthcare providers and those working with them from disclosing your health information without your permission, because the law does not consider tech companies to be healthcare providers nor these wearables to be medical devices. Legal protections People have little choice when buying devices, using apps or opening accounts but to agree to lengthy terms that include consent for companies to collect and sell their personal data. This “consent” allows their data to end up in the largely unregulated commercial data market. The government claims it can lawfully purchase this data from data brokers. But in buying your data in bulk on the commercial market, the government is circumventing the Constitution, Supreme Court decisions, and federal laws designed to protect your privacy from unwarranted government overreach. The Fourth Amendment prohibits unreasonable search and seizure by the government. Supreme Court cases require police to get a warrant to search a phone or use cellular or GPS location information to track someone. The Electronic Communications Privacy Act’s Wiretap Act prohibits unauthorized interception of wire, oral and electronic communications. Despite some efforts, Congress has failed to enact legislation to protect data privacy, the use of sensitive data by AI systems or to restore the intent of the Electronic Communications Privacy Act. Courts have allowed the broad electronic privacy protections in the federal Wiretap Act to be eviscerated by companies claiming consent. In my opinion, the way to begin to address these problems is to restore the Wiretap Act and related laws to their intended purposes of protecting Americans’ privacy in communications, and for Congress to follow through on its promises and efforts by passing legislation that secures Americans’ data privacy and protects them from AI harms. Anne Toomey McKenna is an affiliated faculty membe at the Institute for Computational and Data Sciences at Penn State. This article is part of a series on data privacy that explores who collects your data, what and how they collect, who sells and buys your data, what they all do with it, and what you can do about it. It is republished from The Conversation under a Creative Commons license. Read the original article. View the full article

As artificial intelligence puts Americans out of work, there are programs available to help them land on their feet—but experts warn they’ll need to ramp up quickly to meet the demand. One new pilot program sends a $1,000 monthly stipend to workers displaced by AI while providing career support to help them return to the workforce. Called the AI Dividend, it’s an initiative that’s privately funded through donations to the Fund for Guaranteed Income (a nonprofit that distributes cash through various programs, including its AI Commons Project) in partnership with What We Will, which provides recipients with community support and career resources. The Fund for Guaranteed Income facilitates a range of similar programs that use cash as a stopgap for marginalized Americans, and has distributed roughly $25 million over the last five years. “The need that we are hearing and seeing for people who are getting displaced by AI made us start thinking this would be a good application of this intervention,” says Eli Berk-Rauch, the research lead for the Fund for Guaranteed Income and the AI Commons Project. “Regardless of where AI goes from here, there’s already people being displaced and facing unique challenges in the job market.” Berk-Rauch explains that the cash isn’t designed to replace lost income, but to provide some financial support, so that recipients can focus their time and energy on updating skills and applying for jobs. “We’re trying to ferry workers to their next role,” says What We Will’s director of media and communications, Kyle Abasi. “We’re building up capacity to meet workers where they are with workforce development, whether that’s skill sharing or mentorship or job referrals.” The AI Dividend is one of just a few programs offering relief to workers stuck in the crosshairs of AI job displacement. While such programs are only currently offering assistance to a tiny fraction of affected workers, they offer a glimpse into potential solutions that are becoming more necessary by the day. We’re Going to Need a Bigger Safety Net Though the full impact of AI on employment is yet to be seen, recent developments and forecasts paint a grim picture. According to a recent Gallup poll, 18% of all U.S. employees and 23% of those whose organizations have adopted AI say it is somewhat or very likely their job will be eliminated in the next five years. Research from Goldman Sachs suggests those who are displaced by AI alsoface a more challenging path back into the workforce. The impact of the AI Dividend is currently being tested by a small group of pilot participants. It’s still very early days—the pilot is only a few weeks old—but Abasi and Berk-Rauch say the results could help shape larger assistance programs for AI-displaced workers in the future “With the scale of what might come, we do feel like there’s some degree of policy changes that we need to make to stabilize the economy, stabilize people’s livelihoods, and we hope that this can be a model,” Abasi says. And “running experiments like this is how you build the evidence base to demonstrate whether this would work at that type of scale as a solution,” adds Berk-Rauch. Entry-Level Workers Face the Highest Risk AI job displacement can impact professionals at any level of seniority, but the technology’s proficiency in administrative tasks, which tend to fall to more junior employees, has created even greater challenges for entry-level workers. According to a recent report by the Brookings Institution, 15 million college graduates work in jobs that are highly exposed to AI displacement, including 11 million in “gateway” occupations that act as a bridge to higher wage roles. “AI is good at performing discrete tasks that are repetitive in nature, and a lot of entry-level jobs are administrative in nature,” says Darrell West, a senior fellow in the Center for Technology Innovation of the Governance Studies program at the Brookings Institution. “We know entry-level workers are being particularly hit, but there are more advanced occupations that also face some risks.” Prior to entering the job market, students can tap into a broad array of financial support programs, like federal Pell Grants, state-level financial aid programs and financial aid offered by institutions directly. But West says most who lose their job or struggle to enter the labor market after graduating are on their own. “You have to find a retraining program, and oftentimes you have to pay for that retraining,” he says. “There’s little public assistance for adult education, and that’s where this unemployment problem is arising.” Building Skills While Building Communities Cash may be an effective way to support those displaced by AI as they update their skills and find their way back into the labor force, but other programs are looking to community service as a way to help build those skills while supporting local communities. Since its founding in 1988, City Year has provided financial support to 40,000 17-to-25 year-olds in exchange for serving as Student Success Coaches in 60 of the country’s most under-resourced school districts. The program is offered through AmeriCorps, a bipartisan government program that pays people — mostly young adults — to engage in community service. During their ten months of service, Student Success Coaches provide one-on-one academic and homework support, work with teachers to track students’ progress, lead extracurricular activities, and more. In exchange, they receive a $25,000 stipend, healthcare benefits and a Pell Grant worth up to $7,500 to put towards training programs, student loans or graduate school. City Year also equips them with employable skills that employers — like Deloitte, Salesforce, and ServiceNow — are actively seeking. “We are now the only non-four-year institution that is a recruitment pathway into Deloitte,” says City Year CEO and alumnus Jim Balfanz. “So, if you’re a young adult and you want to work for Deloitte, which is a great little company, you need to graduate from one of the universities on their recruitment list — unless you graduated from any four-year university program and completed City Year.” According to a new white paper published by City Year, 91% of alumni secured a job or enrolled in higher education within 12 months of completing their service term, and 83% credit the program for building the skills that launched their careers. “There’s an opportunity for us to leverage national service as part of a solution to the workforce disruption,” says Balfanz. “We’ll also have an incredible additional set of benefits to our society in terms of the development of young people and services provided to communities across the country.” City Year currently operates in 29 American cities, with a 30th on the way, as well as the United Kingdom and South Africa. Though it’s the largest program of its kind, it’s going to take a lot more to stem the tide of youth unemployment, which hit a post-pandemic record of 11.4% last June. “We have an existing infrastructure that you could — from federal, state, local and private-public investments – go from $1 billion a year to $10 or $15 or $20 billion; that really could scale,” Balfanz says. “Our role is to be a leader and an innovator in our space and an exemplar and a coalition builder, because it’s the coalition that’s going to scale to the size of the workforce disruption challenge in the US.” Will it be enough? AI’s advancement has proven relentless, and the technology’s impressive prowess is creating workforce disruptions at a speed and scale few could have anticipated. “AI is getting better and better, which means it can do more sophisticated tasks, which means that a broader range of jobs are going to be affected,” says West of the Brookings Institution. “So, this problem of people not getting their first job or getting laid off later in life is going to become more acute.” In the face of such rapid and widespread workforce displacement, those who are serious about finding a solution have little time to develop and test novel ideas. Though they’re too small to meet the existing demand, much less what’s expected in the coming years, programs like City Year and the AI Dividend provide two of the only solutions tested in practice. “This is not a temporary problem or a small-scale issue,” says West. “It’s really a fundamental change in the nature of the economy, and we’re going to need some solutions that meet that challenge. We can’t just continue business as usual.” View the full article

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We are living through a fundamental shift in what work is for. As AI takes on more routine cognitive tasks, the uniquely human capacity to imagine, connect, and create meaning becomes the primary source of organizational value. Yet most companies are still measuring performance metrics prioritized for a different era: inventory turnover, cost per lead, and utilization rates. These metrics were designed to optimize extraction. They are poorly equipped to cultivate imagination. The organizations that will win in the Imagination Era are those that build new measurement systems to match their new ambitions. Not because metrics are magic, but because what a company chooses to measure is a declaration of what it believes matters. If you want to build a culture of creativity and human flourishing, you need key performance indicators that make that aspiration visible, and therefore actionable. Below is a framework of Imagination Era KPIs organized across five categories. These are not replacements for financial performance metrics. They are the upstream investments that make sustainable performance possible. 1. Intentional Thought and Reflection In an always-on work culture, deep thinking has become structurally endangered. We schedule every hour, measure output in deliverables, and treat open time as inefficiency. But the cognitive work that drives innovation (for example, synthesis, pattern recognition, strategic reframing) requires unstructured mental space. Time to Think and Ponder measures the specific minutes per week an employee or team dedicates to deep reflection and open-ended thinking. This is time that should be protected on the calendar and treated as nonnegotiable. Creative Downtime tracks time away from screens specifically for mind-wandering, which neuroscience tells us activates the brain’s default mode network—the system responsible for imagination, empathy, and future planning. Reflective Journaling quantifies time spent in self-assessment, what some leaders call “think diaries”: a practice of making thinking visible before it becomes action. Organizations that track these metrics are making a structural argument: that thinking—and reflection on how we think—is work, not a break from it. 2. Team Collaboration and Collective Wisdom The knowledge that matters most in complex organizations rarely lives in one person or one department. It lives in the relationships between them. Yet hybrid work environments and siloed structures have made those relationships harder to build and maintain. Cross-Departmental Collaboration measures the frequency and number of new projects initiated by different teams coming together. Think of it as a version of creative abrasion—where difference generates insight. Apprenticeship Engagement tracks the number of active mentoring relationships, addressing one of the most underappreciated costs of remote and hybrid work: the collapse of informal knowledge transfer. Team Rituals monitors shared practices: end-of-week reflections, small-win celebrations, and peer recognition moments. Incentivizing these practices builds the psychological safety necessary for people to take creative risks. None of these requires a significant budget. All of them require intentional leadership. 3. Movement and Physical Engagement The body is not a vehicle for transporting the brain to meetings. Movement, physical engagement, and time in natural environments are not wellness perks. Instead, think of them as inputs to the cognitive and creative capacity that organizations depend on. I call this sentient intelligence: the irreplaceable data that comes from being a body in the world. Walking Meetings measure conversations held in motion, a practice with a robust research base showing improvements in divergent thinking and perspective-taking. Post-Recess Productivity Boost tracks the measurable difference in team focus and creative output following regular outdoor or movement-based breaks. Instead of treating recess as lost time, treat these micro-breaks as a performance investment. Time Spent in Nature quantifies minutes in natural environments, a data point that sounds soft until you understand that attention restoration research consistently shows that when we are in nature, cognitive fatigue decreases and complex problem-solving improves. When leaders track these metrics, they normalize the idea that physical experience and intellectual output are integrated domains. 4. Experimentation and Restorative Action Innovation cultures are built on a tolerance for small failures and a bias toward trying. But most performance systems punish both! When every experiment must be justified in advance and every outcome evaluated against a predetermined standard, organizations systematically eliminate the conditions that make breakthrough thinking possible. Prototyping Frequency measures the number of small-scale experiments and “ugly” mock-ups created to test concepts quickly. This reframes speed-to-prototype as a leading indicator of innovative capacity rather than a sign of incompleteness. Big, Audacious Ideas track the generation of bold ideas that serve either organizational transformation or broader social impact, ensuring that strategic ambition doesn’t atrophy under the weight of short-term pressures. Sabbatical Impact measures team effectiveness and new idea generation specifically in the period following extended breaks, building an evidence base for the counterintuitive case that rest is a performance strategy. The goal is not to celebrate experimentation for its own sake, but to build the institutional muscle memory that makes innovation repeatable. 5. Meaning and Well-Being Purpose is not a perk! Research consistently links employee sense of meaning to retention, discretionary effort, and resilience under pressure. Yet most organizations measure engagement as a proxy for meaning. And even engagement surveys often tell leaders what employees think they want to hear, rather than what is actually true. Meaning Gauge uses pre- and post-project surveys to assess how connected employees feel to the significance and impact of their work beyond simple profit metrics. Autonomy Levels assess the degree of independence employees have in managing their own time, projects, and MTR (Move, Think, Rest) cycles—recognizing that autonomy is not just a satisfaction driver, but a prerequisite for creative work. Reduced Stress Metrics track reductions in reported stress levels as MTR practices become embedded in culture, creating a feedback loop between organizational investment and human capacity. Together, these metrics shift the conversation from “are people happy?” to “are people flourishing?”—a distinction with significant strategic implications. From Extraction to Cultivation Shifting from extraction to cultivation requires more than new metrics. It requires a new theory about the purpose of organizations. But measurement is where culture change becomes concrete. When a leadership team reviews Imagination Era KPIs alongside revenue and margin, it sends an unambiguous signal about what the organization values and what it is willing to protect. In a world where artificial intelligence can optimize virtually any extractive process, the sustainable competitive advantage belongs to organizations that cultivate what machines cannot replicate: human imagination, connection, and meaning. The metrics you track are the first step toward making that advantage real. View the full article

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Drones are huge. And, while there’s lots of restrictions around them, a lot of travelers take them on road because they produce some amazing sweeping aerial shots. There’s lots of amazing brands out there but one that I think is super cool is the Antigravity A1. Released in late 2025, attempts to render the traditional gimbal obsolete for a vast segment of creators. By leveraging a dual-lens 360-degree capture system, the A1 records everything in every direction simultaneously. The result is a “fly now, frame later” experience that feels less like piloting a drone and more like directing a virtual camera in a pre-recorded digital environment. I was sent one to use and want to share my experience and why I like this product so much. Two Lenses = No Blind Spots What make’s Antigravity 360’s so special is the two lenses. Most drones feature a single lens that points forward. However, the A1 features two ultra-wide-angle lenses positioned on the top and bottom of the central fuselage that each captures a 200-degree field of view. When those images are combines, they overlap to create a seamless 360-degree sphere. And, in the final exported footage, the drone itself is digitally removed, creating the illusion of a camera floating in mid-air with no visible means of support. The sensors themselves are 1/1.28-inch CMOS units. While smaller than the 1-inch sensors found on some “Pro” level photography drones, they are massive compared to typical 360 action cameras. This allows for significantly better low-light performance and a higher dynamic range, capturing details in the highlights and shadows that would typically be lost in the harsh contrast of a midday sun. Most countries require drones weighing 250 grams or more to be registered and subject to stricter flight rules. Antigravity clearly understood the importance of this threshold because they made the A1 to weigh exactly 249 grams with its standard battery meaning it’s not considered a commercial drone so you don’t have to register it. And the drone feels remarkably sturdy. It utilizes a high-grade carbon-fiber-reinforced polymer that offers a better strength-to-weight ratio than the standard ABS plastic found in cheaper models. The folding mechanism is satisfyingly tactile, clicking into place with a precision that suggests long-term durability. When folded, the drone is roughly the size of a large smartphone, though about three times as thick. The Flight Experience The Vision Goggles: These are sleek, lightweight, and feature dual 4K micro-OLED displays with a 120Hz refresh rate. The latency is nearly non-existent and they have integrated head tracking. Because the drone is recording in 360 degrees, you aren’t limited to seeing what is in front of the drone. When you turn your head to the left, the goggle feed pans to the left. If you look down, you see the ground passing beneath you. This provides a sense of presence and spatial awareness that is simply impossible with a traditional fixed-camera drone. The drone uses a single-handed motion controller. You point the controller where you want to go and pull the trigger to accelerate. Tilt your wrist left to bank, or raise the nose of the controller to climb. It is an incredibly intuitive system that allows even a novice to fly through complex environments within minutes. For professional FPV pilots who prefer the precision of manual acrobatic flight, the A1 does support a traditional “Mode 2” stick controller, but the motion controls are so fluid that most users will likely never switch back. Here’s a video of the drone in action: Camera Performance The marketing for the Antigravity 360 proudly displays “8K Resolution.” In a traditional camera, 8K means every pixel is packed into a 16:9 rectangle. In 360 video, those pixels are spread across a full sphere. When you “reframe” that 8K sphere into a standard flat video, you are looking at a “crop” of the total image. The color science is noticeably improved over previous 360 cameras. The A1 features a “Vivid” profile for those who want punchy, social-media-ready colors, and a 10-bit “Log” profile for professional editors who need to match the footage to other cameras in a color-grading suite. The stabilization, powered by Antigravity’s “FlowState” algorithms, is nothing short of miraculous. You can fly in 20mph winds, and the footage remains as steady as if the camera were on a tripod. The Editing App The “Antigravity Studio” app allows you to download footage wirelessly (at speeds up to 80MB/s) and reframe your video using your phone’s gyroscope. You simply watch the video and move your phone around to “film” the scene in real-time. The app also features “Auto-Frame,” an AI tool that identifies subjects and automatically generates a cut that keeps them in focus. For a solo creator, this effectively provides a virtual camera crew that never misses a shot. Battery Life Battery technology remains the bottleneck for all small drones. The A1’s standard Intelligent Flight Battery provides a theoretical 24 minutes of flight. In real-world conditions with moderate wind and constant recording, expect closer to 19 or 20 minutes. While 20 minutes sounds short, the “work per minute” is much higher than a traditional drone. Because you don’t need to re-fly a path to get different angles, a single 20-minute flight can yield the same amount of usable footage as three flights with a Mavic. For those who need more time, the “Pro Battery” (which pushes the weight over 250g) offers a staggering 39 minutes of flight time, though it does compromise the drone’s agility slightly. In terms of flight dynamics, the A1 is a “cinewhoop” style flyer. It is stable and predictable rather than aggressive and twitchy. It has a top speed of roughly 36 mph, which is plenty for following bikes or cars, but it won’t keep up with a professional racing drone. The “Turtle Mode” is a life-saver; if you crash and end up upside down, the drone can flip itself over using its propellers, allowing you to take off again without a “walk of shame” to recover the aircraft. Who is this for? The Antigravity 360 is a niche product that is rapidly becoming mainstream. Extreme Sports Athletes: For skiers, mountain bikers, and surfers, the A1 is a game-changer. You can set it to “ActiveTrack” and just go. Because it’s 360, it will never lose you, even if you go under the drone or take a sharp turn. Real Estate Videographers: The A1 is perfect for interior tours. It can fly through a house, and in post, you can look at the architecture, the floors, and the ceilings in one seamless take. Travel Vloggers: The portability and the “invisible drone” effect make it the ultimate travel companion for those who want high-production-value shots without a full crew. **** The Antigravity 360 (A1) is the most exciting drone I have tested. By removing the need for a gimbal and the stress of manual framing, it allows the pilot to focus on the one thing that truly matters: the story they are trying to tell. While the image quality isn’t quite at the level of a high-end cinema drone, and the lenses are admittedly delicate, these are small prices to pay for the creative liberation the A1 provides. It bridges the gap between traditional cinematography and the immersive world of VR. If you are a creator who is tired of the same old “drone shots” and want to push the boundaries of what is possible in the air, the Antigravity 360 is an essential addition to your toolkit. How to Travel the World on $75 a DayMy New York Times best-selling book to travel will teach you how to master the art of travel so that you’ll get off save money, always find deals, and have a deeper travel experience. It’s your A to Z planning guide that the BBC called the “bible for budget travelers.” Click here to learn more and start reading it today! Book Your Trip: Logistical Tips and Tricks Book Your Flight Find a cheap flight by using Skyscanner. It’s my favorite search engine because it searches websites and airlines around the globe so you always know no stone is being left unturned. Book Your Accommodation You can book your hostel with Hostelworld. If you want to stay somewhere other than a hostel, use Booking.com as it consistently returns the cheapest rates for guesthouses and hotels. Don’t Forget Travel Insurance Travel insurance will protect you against illness, injury, theft, and cancellations. It’s comprehensive protection in case anything goes wrong. I never go on a trip without it as I’ve had to use it many times in the past. My favorite companies that offer the best service and value are: SafetyWing (best for budget travelers) World Nomads (best for mid-range travelers) InsureMyTrip (for those 70 and over) Medjet (for additional evacuation coverage) Want to Travel for Free? Travel credit cards allow you to earn points that can be redeemed for free flights and accommodation — all without any extra spending. Check out my guide to picking the right card and my current favorites to get started and see the latest best deals. Need a Rental Car? Discover Cars is a budget-friendly international car rental website. No matter where you’re headed, they’ll be able to find the best — and cheapest — rental for your trip! Need Help Finding Activities for Your Trip? Get Your Guide is a huge online marketplace where you can find cool walking tours, fun excursions, skip-the-line tickets, private guides, and more. Ready to Book Your Trip? Check out my resource page for the best companies to use when you travel. I list all the ones I use when I travel. They are the best in class and you can’t go wrong using them on your trip. The post How the Antigravity 360 Drone Will Change Your Travels appeared first on Nomadic Matt's Travel Site. View the full article

Higher energy prices stoked by conflict have resulted in higher borrowing costs for governmentView the full article

Women face discrimination on several different fronts at work. They are 14% less likely to be promoted than their male colleagues. They still face pay gaps. And they suffer professionally for being caregivers at home, facing higher levels of burnout and a higher incidence of leaving the workforce altogether. According to a new report, working women also face unfair assumptions about their health from men. A new survey from Mira, a fertility tracking and health site, found that more than a third (37%) of men surveyed said they attributed a female colleague’s behavior to their hormones. Even more men (39%) said that they expect women to manage their emotions “differently” than men at work. Perhaps most troubling, nearly a quarter—23% of the men surveyed—said they’ve questioned a female colleague’s leadership decisions based on assumptions about their hormonal state. Yikes. While, of course, people who get periods can experience physical and emotional distress monthly, that doesn’t mean they are incapable of controlling themselves at work. In fact, it may even mean (given that the average age of the onset of menstruation is now 11.9 years old) that people with periods have years of experience when it comes to managing emotional distress. To that point, one 2020 survey published by the U.K. job search website Totaljobs found that the majority of male respondents said they were more than twice as likely as their female coworkers to yell or even quit their jobs due to uncontrolled emotions. However, there were some positive findings. Men largely acknowledged that period pain can impact a woman’s mental and physical health: 86% said they realize those unique challenges exist. Perhaps not surprisingly, nearly one-third (31%) of men said their education didn’t prepare them to understand women’s health. Unfortunately, the information gap doesn’t seem likely to improve. Only two-thirds of Gen Zers said they felt educated about the topic, versus 70% of millennials. Encouragingly, 83% said they would teach their sons about women’s health. So, while women still face all kinds of judgment at work that men don’t have to deal with, the good news is that in 2026, many men want to do better. View the full article

Compliments come in many forms, and handling them well is an important part of building strong relationships and projecting a positive image. Sometimes a simple “Thank you” will do. But in other cases, praise may have a negative undertone, which you will want to respond to. Still others may be laudatory comments that you can build upon. Here’s how to respond to a broad range of compliments. 1. “I LIKE YOUR STYLE” The best and easiest answer to this compliment is “Thank you.” Whenever someone compliments you on your style (“I love your look” or “I love your purse/tie”), responding with “Thank you” shows grace and appreciation. Don’t undercut those compliments. I once knew a vice president who replied to a “I like your purse” comment by looking down at her purse and replying: “Oh, this old thing!” In doing so she dismissed the compliment and suggested a poor self-image. Anything you’re wearing is a reflection of you. Resist the temptation to deny something positive about yourself. This includes compliments about what you’re wearing, a new hairstyle, or anything else about your physical appearance. 2. “YOU LOOK GREAT. HAVE YOU LOST WEIGHT?” A compliment like this one has an edge, so responding can be tricky. If you respond with a simple “Thank you,” you’re tacitly accepting the quasi-insult (“Have you lost weight?”) and the fat-phobia in the statement. You might turn the negative into a positive: “Thank you for noticing, I’ve been working out.” You can also sidestep and respond only to the positive part of the sentence, “Thank you, I feel great too.” Whatever strategy you use, it’s best to assume the person is probably well meaning but inept. A negative reaction, such as, “Do I look like I’ve gained weight?” delivered with a cutting tone would hurt your relationship with a colleague who is friendly but chose their words poorly. 3. “I LOVE WHAT YOU SAID IN THE MEETING” When someone compliments you for something you shared at a meeting, a simple “Thank you” will often work. Such a compliment also provides an opportunity for you to reinforce the point you made in the meeting. To do so, you might add, “I really believe we have a great pitch to take to customers.” If it’s your boss who expressed this sentiment, you might say, “I would love to talk to you about next steps.” In short, you can build on what you said in the meeting and reinforce what your colleague or boss found praiseworthy. If the praise comes from your boss or a colleague, build upon it. Don’t just say, “Thank you.” And don’t dismiss the compliment. As a marketing professional in Toronto explains, “It’s annoying when a compliment is deflected immediately with a ‘couldn’t have done it without the team/or person X.’ Sometimes it’s nice just to hear a compliment accepted.” Begin with a statement of appreciation, such as, “I’m glad you liked it” or “Thanks, that means a lot to me.” But go beyond that. Find a bridge that connects both of you. If it’s your boss, you might say, “I’d like to talk to you about this program and how we can implement it.” If the compliment came from a colleague, respond, “I enjoyed working with you on this project.” 4. “IT HAS BEEN A PLEASURE TALKING TO YOU” If you are at the end of a job interview and you hear these words, do your best to take the relationship to the next level. While for many job applicants this note of appreciation could feel like a throwaway line, it’s a compliment you can build upon. Instead of simply reiterating the interviewer’s words (“It has been a pleasure talking to you too”) build on what she has said. Begin with a “Thank you,” and then ask what the next steps are, or when you might hear from her. The point is to make that compliment a springboard to the next steps in a relationship. 5. “YOU’RE BALANCING SO MUCH—FAMILY, KIDS, AND WORK. I DON’T KNOW HOW YOU GALS DO IT” From time to time you may get a compliment that comes with a dollop of sexism. The “compliment” above parades as a goodwill statement but embodies negative assumptions about women’s roles. Your response will be tricky, but the last thing you want to do is accept the premise that all women have responsibility for their family, children, and work. Nor do you want to respond harshly. So, even though the speaker might be well intentioned, you must respond by questioning the premise. A good response would be, “I’m glad you think I’m handling all those things, but my husband and I share responsibilities.” 6. “YOU REALLY LET HIM HAVE IT!” If you stand up to someone there may be times when you get this compliment from a colleague. Perhaps you’ve criticized someone for sexist behavior or for questioning your viewpoint. You won’t want to go on about the negative exchange. Just smile and move on. View the full article

How trading houses Vitol, Trafigura and Mercuria have managed to get some of their oil tankers out of the GulfView the full article

It’s five answers to five questions. Here we go… 1. Coworker threatened me and HR isn’t doing anything Last fall, a coworker made an inappropriate comment toward me (called me a “ho” out of nowhere) and also made a statement about using a gun on me. She made these comments in front of several coworkers, who reported the incident. Around that same time, it had been announced that she was receiving a promotion, which added to the confusion. The following week, we were told this employee was no longer with the team. About a month ago, we learned she had actually been on leave and has now been reassigned to a different team within the organization. While I have not had direct contact with her since the incident, I feel uneasy knowing she is still employed here, given the nature of what was said. Leadership and HR have not communicated much about the situation, and I’m unsure what protections or boundaries are in place. I have asked for support from HR to avoid interaction, but they have been less than helpful. My manager is also frustrated with HR and has offered to help me come up with our own safety plan, which I appreciate, but I’m not sure what that should realistically include or whether that responsibility should fall on us. What is a reasonable course of action here? Is it appropriate to push HR more directly for clarity on safety measures, or to formally request that I not have any interaction with this person? How much responsibility should I or my manager be taking on in creating a “safety plan” in a situation like this When things are at the point that you need a safety plan, the person really shouldn’t still be working there — not unless there are extenuating circumstances that mitigate what happened (for example, a medical issue that has been treated, combined with compelling reason to believe that whatever caused the original threat won’t be repeated and sincere contrition). It’s absolutely appropriate for you and your manager to push HR very directly for a clearer answer about how you can feel safe at work. Ideally your manager would take the lead on advocating for this … and also should have a conversation with HR, the company’s lawyers, and her own boss about the company’s legal and moral liability when an employee has threatened to shoot another employee. 2. Can I wear earbuds to drown out diet talk? Recently, I’ve been wearing two earbuds at the office with music or podcasts in the background while I work. Typically, this isn’t something I like to do because I think it can come off as unprofessional. Especially because I’m in my 20’s — I think my generation can get a reputation for constantly being on our phones (and to a certain extent I understand that reputation and it can be true), so that’s another reason I try to avoid it. Recently, everyone in the office has been talking about their diets – weighing themselves, the amount of calories they consume, the foods they’re cutting out, etc. As someone in recovery from an eating disorder, hearing these things can be difficult for me. For a while, I was in a really good place where, yes, it was annoying to hear these conversations, but I could try and zone it out. Lately though, the repetition of these conversations has hit more closely and makes it more difficult for me to focus on my work and maintain my recovery. I would love to ask my coworkers to not talk about these things during work, but I’m not sure it’s my place do that given that it’s a “me” issue that I have to work through. My solution has been to wear two earbuds while I work to drown out those conversations. Is this a happy medium compromise, or do you think it would come off as too unprofessional? It’s pretty office-dependent; in many offices, it would be a non-issue and completely unremarkable. In others, it might feel out of sync with the culture but still be fine to do (especially if you explain it helps you focus). In a minority of others, it would feel out of sync with the culture in a way that could affect how you were perceived there. So, first: does anyone else wear earbuds? Do you need to be able to hear people talking to you unexpectedly? If you’re still left unsure, ask your manager about it! It’s fine to say, “I’ve found some of the chatting in the office distracting and realized I focus really well with headphones on — is it okay with you if I keep doing that?” There’s a pretty good chance you’ll hear it’s fine. (And if you don’t, you could potentially approach it as a formal accommodation if you’re willing to disclose what’s going on.) But also, you do have some standing to ask people to lay off on the diet talk, and there’s advice here on how to do it. 3. Is there a polite way to offer editing services? I am a very active member of an online community for a particular hobby and would love to work for this community. I have years of experience as a writer and editor, and I have noticed that the site could probably use one — they put out a lot of content and quite a few errors get missed. I also want to add that I’ve been interviewed by the owner of this community, so I’m not a complete stranger. I’m struggling with a polite way to say to them, “You need an editor. Would you like to hire me?” *Is* there a polite way to say this? Any suggestions? It probably isn’t going to be a super high priority for an online hobby community, which likely has limited resources and may rely mostly or entirely on volunteers. But you can offer! It’s okay to be straightforward about it: say you’re a fan of their work and active member of the community, work professionally as an editor, have noticed their content not infrequently contains editing errors (you could include something like “understandably, since I’m sure the people creating it have lots of demands on their time”), and you’d love to talk with them about what an editing arrangement could look like if that’s something they’re interested in. Assuming you’re not offering to volunteer your services, you’d want to make that clear (probably by stating your rates up-front or mentioning that you’d be open to discounting them if you are). 4. What to say to a worker who was striking when we last spoke I work for a company that provides vendor services to an industry that has a fair amount of unionized workers. A few months back, I contacted a client to check in, only to be told rather awkwardly that his department was on strike so he wasn’t sure how things were going. Such news typically doesn’t make it to a national level for this industry unless it’s very large or there’s some unusual circumstance. I’ve been doing this job for over half a decade and this was my first time speaking with a striking employee. At the time, I just wished him luck and well wishes, and ended the call. It’s clear from the notes on his account that he’s now back at work, so today I reached out again. I got voicemail this time, but if I had gotten him on the phone, should I have said anything about the strike? Google doesn’t tell me much about how the strike was resolved, so for all I know he’s not happy about it, and it’s not appropriate for my role to get involved in those discussions. Overall, this feels pretty low-stakes but I’m curious about your thoughts. You don’t need to reference the strike. It would also be fine to say, “Glad you’re back” or “Glad the strike didn’t have to last very long” (if it didn’t) or “I hope the strike was successful” or otherwise express your support. 5. How to explain my recent layoff As a result of some reorganization in the department, I was recently made redundant after only a year and a half on the job. Leadership made their decision based on shifting strategic priorities and it had nothing to do with my performance. How should I think about explaining this redundancy to potential employers as I begin to apply for new positions? The “reason for leaving last position” question is bound to come up on applications and in interviews and I’d like to have an answer prepared. Being laid off is a completely routine and unremarkable reason for leaving a job and you won’t need a lengthy explanation! You can simply say, “Our team had a reorg that significantly changed our priorities and my position was eliminated as part of that.” If multiple positions were cut, you can say, “A reorg eliminated multiple positions on my team, and I was laid off as part of that.” The post coworker threatened me and HR isn’t doing anything, telling someone they need editing, and more appeared first on Ask a Manager. View the full article

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Matt Peltz’s new firm Lost Coast Collective has invested in the UK testing company View the full article

Idea long pursued by banking sector lobbyists faces opposition from regulatorsView the full article

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When it pertains to business tax, comprehension of the rates and regulations can feel overwhelming. You’ll encounter federal tax rates that differ for C-corporations and pass-through entities, along with varying state income taxes. Don’t forget about sales and payroll taxes, which can likewise affect your overall liabilities. To make sense of it all and optimize your financial outcomes, effective tax planning is essential. So, how do you navigate these intricacies? Key Takeaways NYC corporate tax rates range from 6.50% to 7.25%, impacting overall business tax liabilities. C-corporations incur a federal tax rate of 21%, plus potential state taxes. Pass-through entities are taxed on owners’ individual returns with rates from 10% to 37%. Businesses can benefit from deductions, like the Qualified Business Income deduction, reducing taxable income by up to 20%. Payroll taxes include FICA at 15.3%, which employers must calculate and remit accurately to avoid penalties. Understanding Business Tax Rates Regarding grasp of business tax rates, how do they really affect your bottom line? The NYC corp tax rate, part of the New York corporate tax rate, plays a significant role in determining how much you owe. For C-corporations, the federal tax is a flat 21%, but state corporate tax rates can vary, impacting your effective rate. In New York, you’re looking at a corporate tax rate that can reach up to 7.25%. If you’re a pass-through entity, your income is taxed based on individual rates that can range from 10% to 37%. Furthermore, you must consider the Qualified Business Income deduction, which allows eligible owners to deduct up to 20% of their income, potentially lowering how much business tax you owe. Grasping these figures is essential for accurate financial planning and ensuring you’re not over- or underestimating your tax liabilities. Federal Income Taxes for Corporations and Pass-Through Entities When you’re maneuvering through the terrain of federal income taxes, it’s crucial to understand how they differ between C-corporations and pass-through entities. C-corporations face a flat federal income tax rate of 21% on taxable income, which is calculated after accounting for deductions like wages and depreciation. Conversely, pass-through entities, including sole proprietorships and S-corporations, don’t pay corporate taxes; instead, profits are taxed on the owners’ individual tax returns, with rates ranging from 10% to 37%. This structure helps avoid double taxation, unlike C-corporations, which likewise incur shareholder-level taxes when profits are distributed as dividends. Entity Type Tax Rate Double Taxation C-Corporation 21% Yes Pass-Through Entity 10% – 37% No Shareholder Dividends Up to 40.8% Yes (for C-Corps) State Income Tax Rates for Businesses As you navigate the intricacies of state income tax rates for businesses, it’s essential to recognize that these rates can vary widely across the United States. Some states impose rates as low as 0%, while others go as high as 9.8%. For instance, California charges a corporate tax rate of 8.84%, whereas Florida has a lower rate of 5.5%. In New York, the rates range from 6.50% to 7.25%, depending on taxable income levels. Curiously, several states, including Nevada, Texas, and Wyoming, don’t impose any corporate income tax at all. This lack of a corporate tax can greatly influence your decision on where to establish your business. Furthermore, some states might apply gross receipts taxes instead of traditional corporate income taxes, adding another layer of complexity. Comprehending these variations is essential for effective financial planning and compliance. Sales and Use Taxes Explained Sales tax is a fundamental part of doing business, as it’s a consumption tax added to the sale of goods and services, and rates can differ markedly by state. In addition to sales tax, you likewise need to be aware of use tax, which applies to out-of-state purchases made for business, ensuring fairness among local businesses. Don’t forget that local tax variations can further complicate the total tax rate, so keep accurate records to stay compliant. Sales Tax Basics Grasping sales tax is vital for any business owner, as it directly affects pricing and profitability. Sales tax is a consumption tax added to the sale of goods and services, typically calculated as a percentage of the purchase price. You’re required to collect this tax from customers during taxable transactions. The base rate varies by state; for instance, California has a rate of 7.25%, whereas Texas has a rate of 6.25%. Moreover, local taxes can increase these rates. It’s important to be aware of any exemptions or reduced rates for specific items, such as groceries or medications. Finally, make sure you’re diligent in collecting and remitting sales taxes to avoid penalties, as you’re responsible for submitting them to the state tax authority. Use Tax Definition Comprehending use tax is just as important as grasping sales tax, particularly for businesses that purchase goods or services from out-of-state sellers. Use tax is imposed when sales tax isn’t collected on these purchases, ensuring local businesses remain competitive against lower rates elsewhere. Typically, the use tax rate mirrors your state’s sales tax rate, with potential additional local taxes varying by jurisdiction. As a business, you’re responsible for self-reporting and paying use tax on items like equipment or supplies that didn’t incur sales tax at purchase. For instance, California has a base rate of 7.25%, but local taxes can raise this considerably. Failing to pay can lead to penalties, so keep accurate records of out-of-state purchases to calculate your owed tax. Local Tax Variations When traversing the intricate terrain of local tax variations, it’s crucial to understand how both sales and use taxes can differ not just from state to state but also within local jurisdictions. Sales tax is a percentage added to the sale of taxable goods and services, with businesses collecting it from customers. This rate varies widely; for example, California has a base rate of 7.25%, whereas Texas is at 6.25%. Use taxes apply to out-of-state purchases for business purposes, ensuring taxes are paid on items used within your state. Some states, like Oregon and Delaware, don’t impose a state sales tax at all. Staying compliant requires accurate record-keeping and timely payments to avoid penalties. Payroll Taxes and Their Implications Comprehending payroll taxes is vital for any business owner, as these taxes greatly influence both financial planning and compliance. Employers are responsible for federal payroll taxes, primarily FICA taxes, totaling 15.3% of eligible gross earnings. Both you and your employees contribute 7.65% each, with the Social Security portion applying only to the first $168,600 of earnings in 2024, whereas Medicare has no wage limit. Furthermore, you must pay federal and state unemployment taxes, which vary by state and fund unemployment benefits. Failing to pay payroll taxes correctly can lead to significant penalties, including a $50 fee for late report filings and accruing interest on overdue amounts after 61 days. Consequently, accurate payroll tax calculation and timely payment are imperative for compliance, helping you avoid potential legal issues or financial burdens that could impact your business operations. Calculating Your Business Taxes To calculate your business taxes, you first need to determine your taxable income, which involves subtracting allowable business expenses, deductions, and credits from your total revenue. Comprehending deductions, like the Qualified Business Income deduction, can greatly lower your taxable income and reduce your overall tax burden. Keeping accurate records of your revenues and expenses is essential for ensuring compliance with tax regulations and making this calculation straightforward. Taxable Income Calculation Calculating your business’s taxable income involves a systematic approach that starts with determining your total revenue and then subtracting allowable business expenses, tax deductions, exemptions, and credits. Accurate record-keeping of revenues and expenses is essential for compliance with tax regulations. Item Amount Notes Total Revenue $100,000 All income generated Business Expenses $60,000 Allowable costs Taxable Income $40,000 Total Revenue – Expenses For C corporations, the federal tax rate is 21%. Conversely, pass-through entities face individual income tax rates between 10% and 37%. Comprehending these calculations helps you manage your tax obligations effectively. Deductions and Credits During the process of maneuvering through the intricacies of business taxes, comprehending deductions and credits can greatly influence your overall tax liability. Business tax deductions, like office supplies, marketing costs, and employee wages, can greatly lower your taxable income. If you qualify, the Qualified Business Income deduction might offer you a 20% tax break on eligible income. Moreover, contributions to retirement plans, such as 401(k)s and SEP IRAs, not only reduce taxable income but also support employee retention. Section 179 allows you to deduct the full purchase price of qualifying equipment and software, boosting cash flow. Tax credits for hiring certain employees or providing health coverage directly reduce the tax you owe, making them valuable for minimizing your tax burden. Strategies to Minimize Your Tax Burden Minimizing your tax burden is essential for maximizing your business’s profitability, and there are several effective strategies to achieve this goal. Start by deducting qualifying business expenses, such as office supplies, travel costs, and home office deductions, which can greatly reduce your taxable income. If you own a pass-through entity, utilize the Qualified Business Income (QBI) deduction to potentially receive up to a 20% tax break on your business income. Contributing to retirement plans like a 401(k) or SEP not just aids in saving for the future but likewise provides tax-deductible contributions that lower your taxable income. Furthermore, take advantage of Section 179, allowing you to deduct the full purchase price of qualifying equipment and software. Finally, engaging a tax professional can help you identify missed deductions and optimize your tax savings as well as ensuring compliance with current tax laws. Frequently Asked Questions How Much Tax Do I Have to Pay for My Business? You’ll need to contemplate several factors to determine the taxes your business owes. If you operate as a C corporation, you’ll face a federal tax rate of 21%. For pass-through entities like LLCs, taxes align with your personal income rates. Furthermore, state taxes, sales tax, and payroll taxes can likewise apply. Each of these elements depends on your business structure and location, so it’s crucial to consult a tax professional for precise calculations. How Much Do Businesses Pay in Taxes? Businesses pay various taxes, depending on their structure and location. C corporations face a flat federal tax rate of 21% on profits, whereas pass-through entities are taxed based on individual income tax rates ranging from 10% to 37%. State corporate tax rates can vary, typically between 0% to 9.8%. Moreover, businesses incur sales taxes, payroll taxes, and other local taxes, which can greatly impact overall tax obligations. Comprehending these rates is vital for financial planning. How Much Do They Charge for Business Taxes? In terms of business taxes, the charges can vary widely based on several factors. C corporations face a flat federal rate of 21%, whereas pass-through entities are taxed at individual rates from 10% to 37%. State corporate taxes can range from 0% to 9.80%, and you may additionally deal with sales taxes, payroll taxes, and franchise taxes in some states. Comprehending these components is essential for evaluating your overall tax burden. Is Self-Employment Tax 15% or 30%? Self-employment tax is 15.3%, not 30%. This rate includes 12.4% for Social Security and 2.9% for Medicare. It applies to your net earnings from self-employment over $400, calculated after deducting business expenses. For 2024, Social Security taxes are imposed only on the first $168,600 of your earnings. If your net income exceeds $200,000, an additional 0.9% Medicare surtax may apply. You can deduct half of your self-employment tax when calculating your adjusted gross income. Conclusion In conclusion, grasping business tax rates is essential for effective financial planning. Federal and state tax obligations vary markedly based on your business structure. Furthermore, sales and payroll taxes can influence your overall tax burden. By calculating your liabilities accurately and exploring strategies to minimize them, you can optimize your tax situation. Staying informed about the intricacies of the tax environment will help you make better decisions for your business’s financial health. Image via Google Gemini This article, "How Much Is Business Tax?" was first published on Small Business Trends View the full article

When it pertains to business tax, comprehension of the rates and regulations can feel overwhelming. You’ll encounter federal tax rates that differ for C-corporations and pass-through entities, along with varying state income taxes. Don’t forget about sales and payroll taxes, which can likewise affect your overall liabilities. To make sense of it all and optimize your financial outcomes, effective tax planning is essential. So, how do you navigate these intricacies? Key Takeaways NYC corporate tax rates range from 6.50% to 7.25%, impacting overall business tax liabilities. C-corporations incur a federal tax rate of 21%, plus potential state taxes. Pass-through entities are taxed on owners’ individual returns with rates from 10% to 37%. Businesses can benefit from deductions, like the Qualified Business Income deduction, reducing taxable income by up to 20%. Payroll taxes include FICA at 15.3%, which employers must calculate and remit accurately to avoid penalties. Understanding Business Tax Rates Regarding grasp of business tax rates, how do they really affect your bottom line? The NYC corp tax rate, part of the New York corporate tax rate, plays a significant role in determining how much you owe. For C-corporations, the federal tax is a flat 21%, but state corporate tax rates can vary, impacting your effective rate. In New York, you’re looking at a corporate tax rate that can reach up to 7.25%. If you’re a pass-through entity, your income is taxed based on individual rates that can range from 10% to 37%. Furthermore, you must consider the Qualified Business Income deduction, which allows eligible owners to deduct up to 20% of their income, potentially lowering how much business tax you owe. Grasping these figures is essential for accurate financial planning and ensuring you’re not over- or underestimating your tax liabilities. Federal Income Taxes for Corporations and Pass-Through Entities When you’re maneuvering through the terrain of federal income taxes, it’s crucial to understand how they differ between C-corporations and pass-through entities. C-corporations face a flat federal income tax rate of 21% on taxable income, which is calculated after accounting for deductions like wages and depreciation. Conversely, pass-through entities, including sole proprietorships and S-corporations, don’t pay corporate taxes; instead, profits are taxed on the owners’ individual tax returns, with rates ranging from 10% to 37%. This structure helps avoid double taxation, unlike C-corporations, which likewise incur shareholder-level taxes when profits are distributed as dividends. Entity Type Tax Rate Double Taxation C-Corporation 21% Yes Pass-Through Entity 10% – 37% No Shareholder Dividends Up to 40.8% Yes (for C-Corps) State Income Tax Rates for Businesses As you navigate the intricacies of state income tax rates for businesses, it’s essential to recognize that these rates can vary widely across the United States. Some states impose rates as low as 0%, while others go as high as 9.8%. For instance, California charges a corporate tax rate of 8.84%, whereas Florida has a lower rate of 5.5%. In New York, the rates range from 6.50% to 7.25%, depending on taxable income levels. Curiously, several states, including Nevada, Texas, and Wyoming, don’t impose any corporate income tax at all. This lack of a corporate tax can greatly influence your decision on where to establish your business. Furthermore, some states might apply gross receipts taxes instead of traditional corporate income taxes, adding another layer of complexity. Comprehending these variations is essential for effective financial planning and compliance. Sales and Use Taxes Explained Sales tax is a fundamental part of doing business, as it’s a consumption tax added to the sale of goods and services, and rates can differ markedly by state. In addition to sales tax, you likewise need to be aware of use tax, which applies to out-of-state purchases made for business, ensuring fairness among local businesses. Don’t forget that local tax variations can further complicate the total tax rate, so keep accurate records to stay compliant. Sales Tax Basics Grasping sales tax is vital for any business owner, as it directly affects pricing and profitability. Sales tax is a consumption tax added to the sale of goods and services, typically calculated as a percentage of the purchase price. You’re required to collect this tax from customers during taxable transactions. The base rate varies by state; for instance, California has a rate of 7.25%, whereas Texas has a rate of 6.25%. Moreover, local taxes can increase these rates. It’s important to be aware of any exemptions or reduced rates for specific items, such as groceries or medications. Finally, make sure you’re diligent in collecting and remitting sales taxes to avoid penalties, as you’re responsible for submitting them to the state tax authority. Use Tax Definition Comprehending use tax is just as important as grasping sales tax, particularly for businesses that purchase goods or services from out-of-state sellers. Use tax is imposed when sales tax isn’t collected on these purchases, ensuring local businesses remain competitive against lower rates elsewhere. Typically, the use tax rate mirrors your state’s sales tax rate, with potential additional local taxes varying by jurisdiction. As a business, you’re responsible for self-reporting and paying use tax on items like equipment or supplies that didn’t incur sales tax at purchase. For instance, California has a base rate of 7.25%, but local taxes can raise this considerably. Failing to pay can lead to penalties, so keep accurate records of out-of-state purchases to calculate your owed tax. Local Tax Variations When traversing the intricate terrain of local tax variations, it’s crucial to understand how both sales and use taxes can differ not just from state to state but also within local jurisdictions. Sales tax is a percentage added to the sale of taxable goods and services, with businesses collecting it from customers. This rate varies widely; for example, California has a base rate of 7.25%, whereas Texas is at 6.25%. Use taxes apply to out-of-state purchases for business purposes, ensuring taxes are paid on items used within your state. Some states, like Oregon and Delaware, don’t impose a state sales tax at all. Staying compliant requires accurate record-keeping and timely payments to avoid penalties. Payroll Taxes and Their Implications Comprehending payroll taxes is vital for any business owner, as these taxes greatly influence both financial planning and compliance. Employers are responsible for federal payroll taxes, primarily FICA taxes, totaling 15.3% of eligible gross earnings. Both you and your employees contribute 7.65% each, with the Social Security portion applying only to the first $168,600 of earnings in 2024, whereas Medicare has no wage limit. Furthermore, you must pay federal and state unemployment taxes, which vary by state and fund unemployment benefits. Failing to pay payroll taxes correctly can lead to significant penalties, including a $50 fee for late report filings and accruing interest on overdue amounts after 61 days. Consequently, accurate payroll tax calculation and timely payment are imperative for compliance, helping you avoid potential legal issues or financial burdens that could impact your business operations. Calculating Your Business Taxes To calculate your business taxes, you first need to determine your taxable income, which involves subtracting allowable business expenses, deductions, and credits from your total revenue. Comprehending deductions, like the Qualified Business Income deduction, can greatly lower your taxable income and reduce your overall tax burden. Keeping accurate records of your revenues and expenses is essential for ensuring compliance with tax regulations and making this calculation straightforward. Taxable Income Calculation Calculating your business’s taxable income involves a systematic approach that starts with determining your total revenue and then subtracting allowable business expenses, tax deductions, exemptions, and credits. Accurate record-keeping of revenues and expenses is essential for compliance with tax regulations. Item Amount Notes Total Revenue $100,000 All income generated Business Expenses $60,000 Allowable costs Taxable Income $40,000 Total Revenue – Expenses For C corporations, the federal tax rate is 21%. Conversely, pass-through entities face individual income tax rates between 10% and 37%. Comprehending these calculations helps you manage your tax obligations effectively. Deductions and Credits During the process of maneuvering through the intricacies of business taxes, comprehending deductions and credits can greatly influence your overall tax liability. Business tax deductions, like office supplies, marketing costs, and employee wages, can greatly lower your taxable income. If you qualify, the Qualified Business Income deduction might offer you a 20% tax break on eligible income. Moreover, contributions to retirement plans, such as 401(k)s and SEP IRAs, not only reduce taxable income but also support employee retention. Section 179 allows you to deduct the full purchase price of qualifying equipment and software, boosting cash flow. Tax credits for hiring certain employees or providing health coverage directly reduce the tax you owe, making them valuable for minimizing your tax burden. Strategies to Minimize Your Tax Burden Minimizing your tax burden is essential for maximizing your business’s profitability, and there are several effective strategies to achieve this goal. Start by deducting qualifying business expenses, such as office supplies, travel costs, and home office deductions, which can greatly reduce your taxable income. If you own a pass-through entity, utilize the Qualified Business Income (QBI) deduction to potentially receive up to a 20% tax break on your business income. Contributing to retirement plans like a 401(k) or SEP not just aids in saving for the future but likewise provides tax-deductible contributions that lower your taxable income. Furthermore, take advantage of Section 179, allowing you to deduct the full purchase price of qualifying equipment and software. Finally, engaging a tax professional can help you identify missed deductions and optimize your tax savings as well as ensuring compliance with current tax laws. Frequently Asked Questions How Much Tax Do I Have to Pay for My Business? You’ll need to contemplate several factors to determine the taxes your business owes. If you operate as a C corporation, you’ll face a federal tax rate of 21%. For pass-through entities like LLCs, taxes align with your personal income rates. Furthermore, state taxes, sales tax, and payroll taxes can likewise apply. Each of these elements depends on your business structure and location, so it’s crucial to consult a tax professional for precise calculations. How Much Do Businesses Pay in Taxes? Businesses pay various taxes, depending on their structure and location. C corporations face a flat federal tax rate of 21% on profits, whereas pass-through entities are taxed based on individual income tax rates ranging from 10% to 37%. State corporate tax rates can vary, typically between 0% to 9.8%. Moreover, businesses incur sales taxes, payroll taxes, and other local taxes, which can greatly impact overall tax obligations. Comprehending these rates is vital for financial planning. How Much Do They Charge for Business Taxes? In terms of business taxes, the charges can vary widely based on several factors. C corporations face a flat federal rate of 21%, whereas pass-through entities are taxed at individual rates from 10% to 37%. State corporate taxes can range from 0% to 9.80%, and you may additionally deal with sales taxes, payroll taxes, and franchise taxes in some states. Comprehending these components is essential for evaluating your overall tax burden. Is Self-Employment Tax 15% or 30%? Self-employment tax is 15.3%, not 30%. This rate includes 12.4% for Social Security and 2.9% for Medicare. It applies to your net earnings from self-employment over $400, calculated after deducting business expenses. For 2024, Social Security taxes are imposed only on the first $168,600 of your earnings. If your net income exceeds $200,000, an additional 0.9% Medicare surtax may apply. You can deduct half of your self-employment tax when calculating your adjusted gross income. Conclusion In conclusion, grasping business tax rates is essential for effective financial planning. Federal and state tax obligations vary markedly based on your business structure. Furthermore, sales and payroll taxes can influence your overall tax burden. By calculating your liabilities accurately and exploring strategies to minimize them, you can optimize your tax situation. Staying informed about the intricacies of the tax environment will help you make better decisions for your business’s financial health. Image via Google Gemini This article, "How Much Is Business Tax?" was first published on Small Business Trends View the full article

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Bookkeeping is essential for any business, as it systematically records and manages financial transactions. You need accurate financial records to track income and expenses, which helps you make informed decisions. Furthermore, organized bookkeeping simplifies tax preparation and guarantees compliance with regulations. It likewise plays a critical role in budgeting and can improve your business’s appeal to investors or lenders. Comprehending its importance can greatly impact your financial health, so let’s explore this further. Key Takeaways Bookkeeping ensures accurate tracking of income and expenses, crucial for financial analysis and planning. It aids in compliance with tax regulations by maintaining organized records, reducing the risk of penalties. Well-maintained financial records provide insights into cash flow and profitability, supporting informed decision-making. Accurate bookkeeping simplifies budgeting and forecasting, allowing businesses to plan for future expenses effectively. It enhances the ability to attract investors or lenders by showcasing a clear picture of financial health. Understanding Bookkeeping Bookkeeping is a fundamental function in any business, as it involves systematically recording, organizing, and maintaining all financial transactions. As a business owner, comprehending bookkeeping helps you track income and expenses effectively. A bookkeeper plays a key role in this process by ensuring that all financial records are accurate and up-to-date. This accuracy is critical for staying compliant with tax regulations, ultimately reducing the risk of audits. Through bookkeeping, you generate significant financial records, including profit and loss statements, balance sheets, and cash flow statements. These documents provide important insights into your business’s financial health, allowing you to monitor profitability and identify spending patterns. Additionally, organized books contribute to improved overall financial stability, empowering you to make informed decisions and manage cash flow efficiently. By grasping the importance of bookkeeping, you lay the foundation for a successful business operation. Benefits of Accurate Financial Records Why are accurate financial records crucial for your business? They provide a solid foundation for your bookkeeping experience and enable you to make informed decisions. Here are some key benefits: Effective Budgeting: Precise records help you create accurate budgets, vital for strategic financial planning and growth. Tax Preparedness: When tax season arrives, having organized documentation reduces anxiety and minimizes the risk of penalties. Cash Flow Monitoring: Accurate records allow you to track cash flow, identify spending patterns, and assess profitability, helping you set strategic goals. Regulatory Compliance: Maintaining accurate financial records minimizes errors in reporting, ensuring compliance with regulations and reducing the likelihood of audits. In short, accurate financial records not just streamline your operations but additionally improve your chances of attracting investors or lenders, showcasing your business’s financial health effectively. The Role of Bookkeeping in Budgeting When you maintain organized financial records, you lay the groundwork for effective budgeting in your business. Bookkeeping organizes your income and expenses, creating an accurate picture of your financial reality. By regularly updating your records, you can plan for future expenses without the guesswork typically involved in budgeting. Accurate financial records give you clear visibility into cash flow, which helps in setting realistic growth goals and financial targets. Moreover, well-maintained books make it easier to compare budgeted versus actual spending, allowing for timely adjustments and strategic decisions. Detailed bookkeeping records likewise assist in anticipating seasonal trends, enhancing your budget planning and resource allocation throughout the year. If you’re considering virtual bookkeeping jobs, remember they can help you streamline these processes, ensuring your budgeting is based on solid, reliable data, eventually leading to better financial management. Tax Preparation and Compliance How prepared are you for tax season? Effective tax preparation and compliance hinge on accurate bookkeeping. When you maintain organized financial records, you simplify the filing process and reduce errors. Here are key benefits of diligent bookkeeping from home: Regular Updates: Keeping your financial records current gives you a clear view of taxable income and possible deductions. Detailed Documentation: Organized balance sheets and receipts guarantee compliance with government regulations, helping you avoid penalties. Anticipate Liabilities: Up-to-date records allow you to predict tax obligations, enhancing cash flow management. Stress Reduction: By staying organized, you can sidestep last-minute document searches, making tax season less hectic. Incorporating these practices not merely supports accurate filings but likewise positions you for better financial planning throughout the year. Embracing effective bookkeeping is vital for a smooth tax experience. Organizing Financial Information Organizing your financial information is essential for streamlining access to data and enhancing budget accuracy. When your financial records are well-structured, you can quickly retrieve necessary documents, making it easier to track income and expenses. This clarity not only supports informed decision-making but additionally helps you maintain a healthier cash flow and comply with regulations. Streamlining Financial Data Access Effective bookkeeping transforms the way you access and manage financial data, making it easier to navigate vital information for your business. Here’s how streamlining financial data access benefits you: It allows quick retrieval of necessary documentation during audits or tax filings, reducing stress. A well-maintained ledger minimizes errors in financial reporting, ensuring your data’s accuracy. Structured records provide a clear overview of cash flow, helping you identify trends. Utilizing digital tools for online bookkeeping work improves data organization, offering real-time updates and accessibility from multiple devices. Enhancing Budget Accuracy Accurate budgeting is crucial for any business, and having organized financial information can greatly improve this process. By meeting bookkeeper requirements, you can maintain a clear overview of your income and expenses, which forms the basis for precise budgets. This organized approach minimizes guesswork, as you can analyze past performance and project future needs effectively. Regular updates to your financial records guarantee that your budget reflects the current financial status, allowing you to adjust spending and investments as necessary. In addition, detailed documentation helps you plan for future expenses, making your budgets realistic and achievable. Streamlined bookkeeping practices improve your overall efficiency, enabling you to track performance against budget targets and make informed financial decisions. Setting and Monitoring Business Goals Setting and monitoring business goals is essential for any organization aiming for growth and sustainability. The need for bookkeeping can’t be overstated, as it provides the financial data necessary for setting realistic goals. Here’s how you can effectively set and monitor your business goals: Establish Clear Objectives: Define specific, measurable targets that align with your financial health. Track Progress: Regularly update financial records to monitor your advancement toward these goals. Analyze Trends: Use organized data to identify patterns that inform future growth targets. Budget Wisely: Forecast expenses and revenues to allocate resources effectively. Meeting Legal and Regulatory Requirements Even though it may seem tedious, meeting legal and regulatory requirements through effective bookkeeping is vital for any business. Accurate records guarantee you comply with tax laws, allowing for timely and correct tax filings that minimize the risk of penalties. Adhering to regulations like Making Tax Digital (MTD) in the UK emphasizes the importance of organized bookkeeping, as it mandates digital record-keeping and online submissions. Proper bookkeeping provides transparency and accountability, significant for meeting legal standards and protecting against audits or disputes. Accurate financial records fulfill your reporting obligations to government agencies, guaranteeing you provide necessary information about income and expenses. Additionally, organized bookkeeping practices help you avoid legal complications by maintaining a clear trail of financial transactions, supporting compliance with labor laws and other regulations. Hiring someone with the right bookkeeper qualifications can further improve your ability to meet these vital requirements efficiently. Enhancing Business Decision-Making When you maintain organized bookkeeping, you gain a clear view of your business’s financial health, which is vital for making informed decisions. Accurate financial records help you comprehend your income and expenses in real time. Here are four key benefits: Identify Trends: Regular financial reporting, like profit and loss statements, helps you spot trends and monitor profitability. Cost Savings: Tracking expenses systematically reveals opportunities to cut costs and allocate resources efficiently. Performance Assessment: Organized records simplify evaluating performance against growth targets, aiding in strategic planning. Tax Preparedness: Thorough bookkeeping prepares you for tax season, allowing timely decisions about investments based on solid fiscal comprehension. If you’re wondering how to get into bookkeeping, start by establishing a routine for recording transactions and maintaining financial documents. This disciplined approach guarantees you’re well-equipped to improve your business decision-making. Peace of Mind Through Financial Management Organized bookkeeping not only aids informed decision-making but furthermore provides a sense of peace when managing your business finances. By maintaining accurate financial records, you gain clarity on cash flow and overall financial health, reducing stress and allowing you to focus on growth. With the right bookkeeper job qualifications, professionals can help guarantee your records are precise and timely, nurturing confidence in your strategic planning. Diligent bookkeeping prepares you for tax season, alleviating anxiety by keeping all necessary documentation ready and minimizing last-minute scrambles. Complete and organized records likewise guarantee compliance with government regulations, making you ready for potential audits. Consistent bookkeeping practices give you control over your financial affairs, enabling you to anticipate challenges and make informed decisions confidently. With this level of preparedness, you can navigate your business environment with a greater sense of security and peace of mind. Learning Opportunities in Bookkeeping How can perfecting bookkeeping improve your business acumen? Engaging in bookkeeping opens up valuable learning opportunities that can greatly boost your financial expertise. Here’s how you can get bookkeeping experience: Hands-On Practice: Digital bookkeeping tools allow you to manage actual business finances, improving your grasp of financial management. Workshops and Tutorials: Many software programs offer access to workshops, helping you continuously develop your skills, regardless of your starting level. Financial Analysis: Learning bookkeeping principles enables you to analyze financial data effectively, enhancing your decision-making process. Tax Compliance Knowledge: By handling bookkeeping tasks, you gain insights into tax regulations and the financial implications of business operations. These learning opportunities in bookkeeping not just empower you to make informed adjustments but also equip you with the knowledge needed to identify financial trends, ultimately driving smarter business strategies. Choosing the Right Bookkeeping Method What method of bookkeeping best suits your business needs? You’ll need to evaluate whether single-entry or double-entry bookkeeping is right for you. Single-entry is simpler and works well for small businesses, resembling a checkbook for tracking income and expenses. Nevertheless, it may lack the accuracy required for more complex financial situations. Conversely, double-entry bookkeeping records every transaction as both a credit and a debit, providing an all-encompassing view of your finances. This method helps identify discrepancies and supports accurate financial reporting, making it ideal for businesses that need detailed financial analysis and compliance. Implementing the right bookkeeping method can improve efficiency, especially with digital tools that guarantee real-time updates. If you’re looking to understand how to get a bookkeeping job, knowing these methods will give you a solid foundation to excel in the field. Choose wisely to set your business up for financial success. Frequently Asked Questions Why Do Businesses Need a Bookkeeper? Businesses need a bookkeeper to maintain accurate financial records, which helps you track income and expenses effectively. They prepare crucial financial reports that assist in informed decision-making and guarantee compliance with tax regulations. By organizing your financial documentation, a bookkeeper reduces audit risks and penalties. Moreover, they manage cash flow and accounts payable, allowing you to focus on growth strategies as you improve your financial stability and attractiveness to investors and lenders. What Is the Purpose of Bookkeeping in Business? The purpose of bookkeeping in business is to systematically record financial transactions, giving you a clear view of your financial health. It helps you comply with tax regulations by keeping organized records, reducing audit risks. Accurate bookkeeping allows you to track income and expenses effectively, aiding in budgeting and planning. What Are Five Importances of Record Keeping? Record-keeping is vital for several reasons. First, it streamlines budget creation by clearly organizing your income and expenses. Second, having accurate records prepares you for tax season, easing filing stress. Third, organized records improve efficiency by allowing quick access to critical information. Fourth, regular tracking helps you set realistic growth goals based on financial health. Finally, diligent record-keeping guarantees compliance with regulations, reducing the need to outsource bookkeeping tasks. What Are the Three Golden Rules of Bookkeeping? The three golden rules of bookkeeping guide your financial record-keeping. First, you debit the receiver and credit the giver, guaranteeing accurate tracking of who gains and who loses value. Second, you debit what comes in and credit what goes out, which helps you manage cash flow effectively. Finally, every transaction must be recorded in at least two accounts, maintaining the accounting equation to prevent discrepancies and guarantee accuracy in your financial records. Conclusion In conclusion, bookkeeping is essential for any business aiming for financial success. It not just helps maintain accurate records but likewise supports budgeting and tax compliance. By organizing financial information, you improve decision-making and reduce stress during tax season. With the right bookkeeping method, your business can thrive, providing a clear picture of its financial health. In the end, investing time and resources in effective bookkeeping lays the foundation for informed decisions and long-term growth. Image via Google Gemini This article, "What Is the Need for Bookkeeping in Business?" was first published on Small Business Trends View the full article