On The Money: Business world braces for blue sweep | Federal Reserve chief to outline plans for inflation, economy

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Happy Wednesday and welcome back to On The Money. I’m Sylvan Lane, and here’s your nightly guide to everything affecting your bills, bank account and bottom line.

Joe Biden wearing a suit and tie: On The Money: Business world braces for blue sweep | Federal Reserve chief to outline plans for inflation, economy | Meadows 'not optimistic' about stalemate on coronavirus deal

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On The Money: Business world braces for blue sweep | Federal Reserve chief to outline plans for inflation, economy | Meadows ‘not optimistic’ about stalemate on coronavirus deal

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THE BIG DEAL-Business world braces for blue sweep: Wall Street and business groups are bracing for the possibility of a blue sweep in Washington that would leave Democrats in charge of the White House and both chambers of Congress.

  • Democratic
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Cybersecurity for Small Business | Federal Communications Commission

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The Internet allows businesses of all sizes and from any location to reach new and larger markets and provides opportunities to work more efficiently by using computer-based tools. Whether a company is thinking of adopting cloud computing or just using email and maintaining a website, cybersecurity should be a part of the plan. Theft of digital information has become the most commonly reported fraud, surpassing physical theft. Every business that uses the Internet is responsible for creating a culture of security that will enhance business and consumer confidence. In October 2012, the FCC re-launched the Small Biz Cyber Planner 2.0, an online resource to help small businesses create customized cybersecurity plans.

The FCC also released an updated one-page Cybersecurity Tip Sheet. The quick resource features new tips on creating a mobile device action plan and on payment and credit card security.

The FCC convened a roundtable on May 16, 2011, … Read More

Claiming Personal Exemptions on Federal Income Taxes

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It might not feel like it at tax time, but the Internal Revenue Service doesn’t actually tax you on every single dollar you earn. The Internal Revenue Code offers numerous deductions you can use to shave away some of your income and the IRS only taxes you on the balance.

Personal exemptions used to be one form of deduction you could use to reduce your taxable income. This in turn lowered the amount of income tax you’d have to pay because you’d be paying taxes on less money. Unfortunately, that’s not the case going forward, at least for a while. 

The Personal Exemption Is Gone in 2018

The Tax Cuts and Jobs Act eliminated the personal exemption from the tax code when it went into effect in 2018. This will be the case from through the 2025 tax year when the TCJA technically expires. But it’s expiration isn’t

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Home | Federal Housing Finance Agency

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  • U.S. House Prices Rise 1.3 Percent in Fourth Quarter; Up 5.1 Percent from Last Year

  • The top five states with the highest numbers of borrowers that remain eligible for a HARP refinance are Florida, Ohio, Illinois, Michigan and Georgia.

  • FHFA requests Public Input by July 10, 2017

  • Annual Report to Congress now available

  • Blog – DTS Snapshots facilitate DTS stakeholder opportunities

  • Relief for Homeowners and Renters Impacted by COVID-19

  • Director Watt discussing the Home Affordable Refinance Program (HARP) extension.

  • Effective December 1, local community organizations now have the opportunity purchase foreclosed properties.

  • FHFA’s 2016 Annual Report to Congress is now available.

  • Now available: FHFA’s FY 2017 Performance and Accountability Report


  • Input Requested on Enterprise Credit Score Requirements

  • OMWI 2017 Annual Report to Congress

  • OMWI 2018 Annual Report to Congress

  • FHFA FY2019 PAR

  • FHFA Statement on Foreclosure and Eviction Suspensions

  • FHFA unveiled an interactive online

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    How small business owners may benefit from the $2 trillion federal aid package

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    Overall, small business groups are pleased some assistance is coming. But they also stress the package — which includes close to $400 billion in aid for small business owners — is still not enough to save Main Street.

    “This doesn’t cure the crisis. It’s a good start. But more support will be needed,” said Derek Peebles, executive director of the American Independent Business Alliance (AMIBA).

    The provisions are also unlikely to save those small businesses that will have to come up with cash to stay afloat until they can actually get the government’s aid money in hand.

    “There’s no way many can keep going,” said John Arensmeyer, CEO of Small Business Majority, a national small business advocacy group.

    Speed will be key to helping any small business survive, especially when it comes to dispensing the forgivable loans that will be available to owners who keep paying their employees during the

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