Welcome! Login | Register
 

Oregon Ranked Among Best States in U.S. for Women’s Equality—Oregon Ranked Among Best States in U.S. for…

Light the Trail Bike Riders to Make Stop in Portland to Talk Suicide Awareness—Light the Trail Bike Riders to Make Stop…

Ritchy Montaño – Oregon’s Very Own Holyfield—Ritchy Montaño – Oregon’s Very Own Holyfield

4 Things You Need To Know About Your Body’s Energy Levels—4 Things You Need To Know About Your…

Sunday Political Brunch—Will Florida Mark the End of Trump Presidency? - August 20, 2017—Sunday Political Brunch -- Will Florida Mark the…

Man Seriously Injured Following Stabbing in Downtown Portland—Man Seriously Injured Following Stabbing in Downtown Portland

Fruit – Helpful Or Harmful?—Fruit – Helpful Or Harmful?

Up And Down Season For Portland Thorns Heads Into The Final Stretch—Up And Down Season For Portland Thorns Heads…

Columbia Sportswear in Portland Calling for Old, Worn Out Clothes for ReThreads Program—Columbia Sportswear in Portland Calling for Old, Worn…

See Where Portland Ranks Among Best Places to Retire—See Where Portland Ranks Among Best Places to…

 
 

Friday Financial Five – October 23, 2015

Friday, October 23, 2015

 

Tax rates for the S&P 100
The discussion regarding individual taxes and corporate tax rates continues in the ever evolving discussion to create a fairer tax framework. Wallethub compiled the effective tax rates for S&P 100 for the 2014 tax year, including state, federal and international taxes. While the overall average tax rate of 28% was unchanged from 2013, some discouraging trends continue to persist. Morgan Stanley had an overall negative tax rate. General Motors pays a drastically lower overall tax rate than the average S&P 100 company, thanks to a -36% federal rate. Warren Buffett’s company, Berkshire Hathaway, pays almost exactly the average overall rate, while CVS pays significantly more at an overall rate of 40%.

Student debt examined in court cases

Those that have accrued massive student debt might cringe when hearing presidential candidates talking about the concept of “free” in-state tuition. For those burdened with school debt, it is extremely difficult to get those loans discharged, even in a bankruptcy. Courts are examining the definition of “undue hardship” that would have to be proven by the borrower to allow a discharge. The case of Robert Murphy should have the nation’s attention. At age 62, in 2012, he petitioned the court to relieve him of over $200,000 in PLUS loans. This and other cases may lead to a Supreme Court decision where a less stringent litmus test is used to allow the discharge of loans.

Perkins loan goes away

Speaking of student loans, the United States’ oldest government student aid program, the Perkins Loan, is no more. The formula for calculating how the loan was allotted was cited as being complicated and favoring more expensive schools that didn’t necessarily need the assistance for their enrollees. The loss of the program is expected to greatly affect smaller private colleges, as some have roughly a third of their students relying on them. This may accelerate declining college enrollment which has been evident over the last few years as more high school graduates seek employment instead of a debt laden education. Some in Congress continue to push for the program’s reauthorization.

Analysis of Health Savings Accounts

HelloWallet  (no relation to Wallethub), a website that attempts to help employees maximize their benefit offerings, analyzed Health Savings Accounts administered by UMB Bank. According to their findings, the average HSA holder is 44 years old, makes almost $90,000 per year, and has over $2,000 contributed to the account between employee and employer. The number of large employers using this type of health plan is up almost 50% in the last two years. Employers contributing to a place appears to be very important, as there’s a direct correlation between what an employer puts in and the corresponding employee contribution.

Social Security in 2016

For Social Security next year, there are a few considerations to keep in mind. There will be no cost-of-living adjustment for payments, with the average payout expected to be $1,341 per month for singles and $2,212 for couples, though there will be a slight decrease in the maximum possible benefit. There will not be an increase to the maximum amount of earnings ($118,500) subject to the income tax for Social Security. The taxation on social security benefits for those that continue working will also remain the same. The big question facing retirees will be Medicare and the decision to take benefits or not. Those already receiving Social Security payments won’t see an increase to their Medicare premium, while those choosing whether or not to take Social Security could face a significant increase.

Dan Forbes, a CFP Board Ambassador, is a regular contributor on financial issues. He leads the firm Forbes Financial Planning, Inc in East Greenwich, RI and can be reached at [email protected].

 

Related Slideshow: Oregon Business Rankings in US

See how Oregon stacked up against the other states in the U.S.

Prev Next

ThumbTack

Oregon gets a C+ for small business friendliness from Thumbtack, in conjunction with the Kauffman Foundation.

According to the ranking:

Overall friendliness C+

Ease of starting a business B
Ease of hiring D+
Regulations D
Health & safety D
Employment, labor & hiring D
Tax code D+
Licensing C-
Environmental D
Zoning D+
Training & networking programs B+

Prev Next

CEO Magazine

CEO magazine was not kind to Oregon.

The state ranked in the bottom ten states at #42.

Oregon get lumped by CEO's as being California like - too much regulation.

Prev Next

Forbes

The 2015 rankings puts Oregon in the top 20. Oregon ranks #18 in the United States. 

NY ranks one spot ahead at #17 and Florida ranks after Oregon.

#1 in the United States: Utah

#50 in the United States: Mississippi

Prev Next

WalletHub

Oregon has been ranked as the 2nd most eco-friendly state in the country, according to a recent study by WalletHub

Oregon ranks eighth in environmental quality and first in Eco-Friendly Behaviors landing them in second overall. 

Oregon is behind Vermont and ahead of New York and Minnesota who land in the third and fourth spots respectively. 

Prev Next

The Economist

Small Business Friendliness Grade: C+

The Economist grades states on an A+ to F grading scale for its small business climate. Oregon is one of 4 states that earned a "C+"

Overbearing bureaucracy and excessive licensing is stifling small business in America. 

Read More About The Economist Grade Here

Prev Next

CNBC

#22 CNBC

CNBC ranks each state in cost of doing business, economy, technology and innovation.

Read More About CNBC Ranking Here

Prev Next

Wallet Hub

#28 Wallet Hub

Wallet Hub ranks each state in ROI rank, state tax rank, and overall government services.

Read More About Wallet Hub Ranking Here

Prev Next

#38 Kauffman Foundation

Kauffman Foundation ranks each state in entrepreneurship.

Entrepreneurial activity generally is highest in Western and Southern states and lowest in Midwestern and Northeastern states.

Read More About Kauffman Ranking Here

Prev Next

Forbes

#19 Forbes in 2014

Forbes ranks each state in business costs, economic climate, and growth prospects.

Read More About Forbes Rankings Here

 
 

Related Articles

 

Enjoy this post? Share it with others.

 
Delivered Free Every
Day to Your Inbox