Ushered into the tax code under the 2017 Tax Cuts and Jobs Act, Qualified Opportunity Zone Funds (“QOF”) provide investors with an incredibly compelling combination of tax benefits for those with realized capital gains. This unique combination of benefits may help to generate tax, financial planning and investment alpha in a singular solution. While the tax tail should never wag the dog, it is critical for a financial professional to understand how the combination of QOF benefits, when applied appropriately, can be a significant differentiator for high-net-worth (“HNW”) clients as a holistic solution. Three Questions To Consider Assuming one likes the underlying investment and believes it is a suitable part of a diversified portfolio, one should consider the following: 1. When facing a capital gains tax liability, is it valuable to defer recognition of all or part of that gain until December 31, 2026, and therefore provide time to put strategies in place to proactively plan for and minimize it? 2. When thinking about how to reinvest that realized capital gain, is it attractive to allocate all or part of that capital to a structure that may have the opportunity to grow free of future taxation? 3. When thinking […]

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Economists expect the United States Core Personal Consumption Expenditure to have risen by 0.4% in January. Shoppers’ adjustments to rising prices imply a lower outcome. A small sign of slower inflation may trigger profit-taking on US Dollar longs. Robust Personal Income and Personal Spending figures would help stocks, also weighing on the Greenback. It ain’t over until the Federal Reserve (Fed) gets its favorite inflation figure – and any 0.1% can make a difference. The Personal Consumption Expenditure (Core PCE) report is published after the Consumer Price Index (CPI) one, this month on Friday, February 24 at 13:30 GMT. Nevertheless, PCE is what the world’s most powerful central bank targets – especially the core figure. Core PCE and the accompanying Personal Income and Personal Spending reports may turn into a US Dollar downer. Here are three reasons why. 1) High PCE inflation expectations may lead to disappointment Economists expect Core PCE to come out at 0.4% MoM in January, above 0.3% reported in December. These estimates are based on the upbeat Core CPI report, which showed an increase of 0.4%. Core PCE has been more stable than Core CPI: Makes sense? Not exactly. The Personal Consumption Expenditures formula is […]

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Crushbank co-founder and chief technology officer David Tan believes companies in the channel should leverage the benefits of ChatGPT instead of turning a blind eye to it. “Any MSP should be looking at it and using the language capabilities today in interesting and diverse ways,” he told CRN. “This way they can start to understand what the technology does, the limitations and the opportunities.’ Tan is no stranger to artificial intelligence. In fact, he welcomes it. “I have a computer science background, I started as a developer,” he said. “I just started playing with AI when the technology came along using my coding background.” As he now heads up Syosset, New York-based software vendor Crushbank, he’s built AI products on IBM Watson, Microsoft Azure and OpenAI. But now, he’s working with ChatGPT to leverage AI for the channel. “The OpenAI piece is something that we’re testing right now, building full-blown chatbots essentially the same way ChatGPT works,” he said. “Your customers can start asking questions like, ‘I just got a new iPhone, how do I set it up?’” While still in its infancy, ChatGPT has sparked many conversations in the channel with some saying it’s a hacker’s dream and […]

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The Greek Quick-Service Brand Expands Outside of Home Market with First Location in Arizona Gyro Shack Boise, ID ( RestaurantNews.com ) Gyro Shack , the Greek quick-service food concept specializing in convenient service of authentic food, announces their national franchise opportunity. The brand has recently seen the increase in demand for their food, and looks forward to opening their first location outside of their home market of Idaho, in Tucson, Arizona in March of this year. Gyro Shack is looking forward to bringing their healthy, convenient Greek food to Tucson and throughout the United States. Seth Brink, President of Gyro Shack is excited to bring the flavors of Gyro Shack to communities around the nation. “It’s important that communities have access to different types of cuisines, and that they are accessible and convenient,” said Brink. “Gyro Shack provides this convenient access to Greek food, making it healthier and more diverse than the traditional food that you would receive through a drive-through.” Gyro Shack strives to provide incredible products and service to customers, but also provides the same level of care to its partners and franchisees. The brand is a franchisee-focused franchisor and strives to create an environment that cultivates […]

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Elon Musk laid off more staff in February, according to a report from The Verge. Elon Musk laid of dozens of staff across engineering and sales departments last week, The Verge reported. The publication said Musk also gave workers a one-week deadline to change Twitter’s ad business. Since taking over the company, Musk has laid off over half of Twitter’s workforce. Sign up for our newsletter for the latest tech news and scoops — delivered daily to your inbox. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Elon Musk laid off dozens of Twitter staffers last week — including those who worked on ad products — right after giving them a one-week deadline to turn around the company’s ad business, according to a recent report from The Verge. The publication said that Musk laid off employees in sales and engineering, marking the third round of major lay offs since Musk took over at the company in November. […]

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Costco’s food court is known for cheap fast-food staples such as $1.50 all-beef hot dogs. A Reddit post went viral after someone posted a picture of a new menu item. But some are balking at the price of the $9.99 roast beef sandwich. Remember the uproar when Costco introduced a $4.99 Shake Shack-style burger in 2017? Many hard-core warehouse fans complained it was too expensive for Costco’s food court, known for cheap fast-food staples such as $1.50 all-beef hot dogs and $10 whole pizzas. Top editors give you the stories you want — delivered right to your inbox each weekday. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . But the cheeseburger is a bargain compared to the company’s latest food court experiment – a $9.99 roast beef sandwich. The sandwich was spotted at a Lynnwood, Washington warehouse – about 30 miles from Costco’s headquarters. It is made with sliced roast beef, onion relish, a mayonnaise and mustard […]

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Meet David Moorefield, owner of DAK Resources, Inc.! Please read about his business and experience in the Jacksonville Small and Emerging Business (JSEB) Program. Business Bio: “Like with all veterans who are returning home, we ask ourselves what is next. For me, I started out as a subject matter expert for small business based in Charlotte North Carolina who was teamed up with a large DoD contractor for a project in Jacksonville, Florida. During this employment, I went to my boss Scott Russell and asked him if he would assist me in setting up a business in Jacksonville putting veterans and their family members to work first, and all others second. So, on December 1 st , 2007 we opened our doors.” JSEB Vendor experience: “I find the Jacksonville Small Emerging Business program was is a very helpful program to a small business owner. The program offers subject matter experts and training in many functions of the business. Some of the training takes place at the Florida State College downtown campus. While under the JSEB some of the training is provided at no cost to the business owner. One of the Best benefits of JSEB is the ability to […]

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Patrick McCarthy of Azione Unlimited outlines how cultivating the right relationship with your business can be the difference between success and disaster. A quote I heard once helped me differentiate working on your business vs. working in your business: “If your business depends on you, you don’t own a business—you have a job. And it’s the worst job in the world, because you’re working for a lunatic!” The tongue-in-cheek remark begs for self-reflection from any small business owner who has spent the last few years growing a business around the idea that “if you want it done right, do it yourself.” You are your most valuable employee, but without anyone focusing on the big-picture strategy and long-term growth to improve the business, you are also your most significant threat. Ready to take the plunge? Here are a few action items to propel yourself to the next plateau of success. #1: If It’s Not Written Down, It Didn’t Happen At the heart of a growing business is a rock-solid playbook of operations and processes. Have you ever seen a football team play without a playbook? Have you ever heard an orchestra play without sheet music? Have you ever driven on […]

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(PRNewsfoto/Circle Internet Financial, Inc.) Xavier University of Louisiana Students Complete Circle U: Digital Financial Literacy Pilot Program NEW ORLEANS, Feb. 23, 2023 /PRNewswire/ — In partnership with Xavier University of Louisiana, Circle Internet Financial celebrates 55 students who completed Circle’s Circle U: Digital Financial Literacy pilot. The free, comprehensive blockchain-based financial services curriculum was launched via four Historically Black Colleges and Universities (HBCUs) as part of a pilot program announced in September 2022 . "At Xavier, we believe in providing students with access to a wide range of content to help them make sound decisions personally and professionally as they develop into distinguished young professionals," said Dr. Shael Wolfson, assistant professor in Xavier’s Business Administration and Economics department. "Xavier was already working on blockchain projects when Circle U became available, and offering the content to our XCOR 3020 Blockchain, Crypto and Society students was a logical next step in our program’s progression. We are excited to share this content with more students as we move out of the pilot phase." Circle U, a component of the Circle Impact pilot program promoting digital financial literacy in underserved and marginalized communities, provides a comprehensive overview of blockchain-based financial services and e-learnings […]

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getty Digital transformation is indispensable for businesses that intend to remain relevant in the near future. Given the prevailing macroeconomic conditions, businesses will likely continue facing unique challenges and opportunities to evolve in 2023. Amidst inflation, geopolitical tensions and economic uncertainty, they can expect to tackle issues on multiple fronts, including the supply chain, increasing customer expectations and sustainability, to name a few. The fact that digital transformation will help businesses maintain their competitive edge and sustained revenue models is not debatable. What they need to prioritize stepping into 2023 is focusing on digital technologies to build speed, innovation and agility across functions. Time is of the essence, and as customer demands change rapidly, so must the ability to drive growth and navigate the disruption. Having said that, digital transformation is about more than just technology—it’s about the shift in mindset that enables organizations to reimagine their business models and processes to take advantage of the opportunities created by emerging technologies. A strategic approach to digital transformation is, therefore, key. While every business has specific needs and every journey to a digital future is unique, certain aspects of digital transformation are likely to see more traction in 2023. Composability […]

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