U.S. markets close in 2 hours 48 minutes

  • S&P 500

    3,905.18
    -6.05 (-0.15%)
     

  • Dow 30

    31,384.14
    +8.31 (+0.03%)
     

  • Nasdaq

    13,974.16
    -33.54 (-0.24%)
     

  • Russell 2000

    2,295.82
    -3.18 (-0.14%)
     

  • Crude Oil

    58.80
    +0.44 (+0.75%)
     

  • Gold

    1,842.90
    +5.40 (+0.29%)
     

  • Silver

    27.16
    -0.25 (-0.90%)
     

  • EUR/USD

    1.2137
    +0.0015 (+0.12%)
     

  • 10-Yr Bond

    1.1380
    -0.0190 (-1.64%)
     

  • GBP/USD

    1.3849
    +0.0032 (+0.23%)
     

  • USD/JPY

    104.6500
    +0.0820 (+0.08%)
     

  • BTC-USD

    45,103.48
    -1,653.58 (-3.54%)
     

  • CMC Crypto 200

    916.43
    -19.48 (-2.08%)
     

  • FTSE 100

    6,524.36
    -7.20 (-0.11%)
     

  • Nikkei 225

    29,562.93
    +57.00 (+0.19%)
     

Will Joe Biden raise or lower your tax bill?

Shane Murphy
·4 min read
Will Joe Biden raise or lower your tax bill?
Will Joe Biden raise or lower your tax bill?

During his first year as president, Donald Trump instituted the Tax Cuts and Jobs Act of 2017 — one of the most sweeping revisions to the Internal Revenue Code in more than 30 years. The law benefited low- and mid-income Americans a little, and high-income Americans a lot.

Now that Joe Biden has taken over at the White House, more tax changes are on his to-do list — and they could impact how much tax you’ll pay in the near future.

With Democrats currently controlling both the Senate and the House, President Biden’s proposed tax revisions will have a solid chance of squeezing through even with staunch opposition from Republicans.

Here’s a breakdown of how President Biden’s tax plans could affect you.

Tax breaks for low- and middle-income Americans

Working family
yurakrasil / Shutterstock

A number of the president’s proposed tax changes will help to enhance or expand upon existing tax credits for low- and middle-income Americans.

President Biden plans to temporarily boost the maximum earned income tax credit for childless adults to around $1,500 and he plans to bring the income limit on the credit up to roughly $21,000. He has also said that he’ll eliminate the age cap for the credit so that working Americans over the age of 65 can claim it as well.

Adults with children would see the child tax credit temporarily increase from $2,000 per child to $3,000 per child within the age bracket of 6 to 17, and $3,600 per child for kids under 6. President Biden will also make the credit fully refundable and eliminate the current $2,500 minimum income requirement.

Other possible tax benefits for low- and middle-income Americans under President Biden include a refundable and advanceable $15,000 credit for first-time homebuyers, an expansion of the work opportunity tax credit to include military spouses, and enhancements to tax breaks on 401(k) plans.

To provide relief for Americans struggling with student loan debt, the president has publicly stated that he wants to cancel some student loan debt for every borrower and exclude the amounts forgiven from taxation.

Tax hikes for high-income Americans

higher income
ShutterStock

President Biden’s proposed tax revisions will likely not be a welcome change for high-income Americans — particularly those making $400,000 a year or more.

The president aims to limit itemized deductions for individuals earning more than $400,000 by capping the tax benefit at 28%.

He also plans to roll back Donald Trump’s reduction of the highest personal income rate — 37% since 2017 — by returning it to the earlier rate of 39.6% for taxable income over $400,000.

Additionally, Biden wants to tax long-term capital gains and qualified dividends at the same 39.6% rate for income over $1 million — a huge increase from the current maximum capital gains tax of 20%.

The new tax plan will affect high-earning families as well: He plans to expand the child care credit to up to $4,000 for one child or $8,000 for two or more children, but the credit would be phased out for families earning over $125,000.

Filing your taxes this year

Filing taxes online
one photo / Shutterstock

Regardless of how President Biden’s proposed tax revisions will affect you in the future, right now you’re likely focused on filing your taxes for 2020. Tax season arrives on Feb. 12.

Filing your taxes is especially important this year, as it will allow you to collect any unclaimed stimulus check payments and will ensure that the IRS has your direct deposit information on file for the [next round of stimulus checks] now in the works.

These days doing your taxes on your own is easier than ever, thanks to the wide variety of free and low-cost tax software currently available. And if your return is going to be more complicated than usual due to the pandemic, many tax software providers also offer the option to have a certified tax professional review your return before you file it.

If you happen to get money back this year, think twice before parking it in your bank account — there are much better ways to maximize your tax refund. You could:

Latest Stories

  • Don’t Get Greedy With Ocugen Stock, Says Analyst

    What does it take to move a stock price from $0.29 to $15.81 -- an increase of 5,350% -- in just 18 days? Coronavirus, of course. Or more precisely, a vaccine to fight it. An unprofitable biotech that focused on commercializing therapies to cure blindness prior to the present pandemic, Ocugen (OCGN) stock took on a new life on December 22, when it announced plans to co-develop Indian Bharat Biotech's "Covaxin" vaccine against the SARS-CoV-2 coronavirus. Ever since that announcement, the stock has been on a tear, leaving Chardan analyst Keay Nakae's previous $0.70-per-share price target in the dust. Yesterday, Nakae took another look at Ocugen at its present share price, and declared it overpriced, downgrading the shares to Neutral (i.e. Hold). However, the analyst did raise his price target to $13 (to account for the stock's astounding run-up in price), which implies a 17% upside from current levels. (To watch Nakae's track record, click here) Why is Nakae having second thoughts about Ocugen now? Valuation is obviously a concern, and certainly the primary one. After all, hype aside, Ocugen stock is a company almost entirely devoid of revenues. In all the past year, its sales haven't exceeded $50,000 (It almost goes without saying, then, that Ocugen has no profits). At its current market capitalization, therefore, Ocugen stock sells for a mind-numbing 40,000 times trailing sales, which is kind of a lot. Now, what must Ocugen do to justify this valuation -- one that's not just "sky high" above fair value, but more orbiting somewhere out past Saturn? First and foremost, notes Nakae, the company has to win Emergency Use Authorization for Covaxin from the FDA, which will be no easy trick. Although Covaxin has an ongoing Phase III clinical trial, that's happening in India, and Nakae thinks that even after initial results are in (probably in March), the company may need to conduct an additional study in the U.S. to win FDA approval. Next, Ocugen will need to set up manufacturing operations to produce the vaccine in the U.S. This will of course cost money, and this is probably one reason why Nakae predicts the company "will likely need to raise debt or equity funds in the future." (After all, Ocugen "does not have any products that generate revenue" currently, and the $19 million it has in the bank probably won't cover all the bills needed to set up manufacturing operations). Finally, once manufacturing has been set up and the vaccine goes on sale, the company will have to compete with multiple other vaccines already on the market -- and then split any profits that do result with its partner Bharat. And of course, all of this only happens if the vaccine proves effective, and safe enough to convince the FDA to issue the EUA. So how long will all of this take? How long before Ocugen turns into something resembling a business, as opposed to just a "coronavirus play?" Nakae doesn't say, but he also forecast Ocugen collecting any revenues at all this year, so it won't be soon. So, that’s Chardan's view, what does the Street of the Street have in mind? The current outlook offers a conundrum. On the one hand, based on 3 Buys and 1 Hold, the stock has a Strong Buy consensus rating. However, after surging so high this year, the average price target, at $7.38, implies ~34% downside over the coming months. It will be interesting to see whether the analysts downgrade their ratings or upgrade price targets over the coming months. (See OCGN stock analysis on TipRanks) To find good ideas for coronavirus stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • How much income will your 401(k) provide?

    Retirement account owners have long had trouble translating the money in their 401(k) into income. Later this year, possibly in the third quarter, plan sponsors will be required to include two lifetime income illustrations on participants’ pension benefit statement at least once annually. In essence, the illustrations show how much income a participant’s account balance would produce in today’s dollars if used to purchase either a single life annuity or a qualified joint and 100% survivor annuity.

  • Stocks aren’t in a bubble, but here’s what is, according to fund manager Cathie Wood

    For all the attention given to the argument that the stock market is in a bubble, it is important to point out that not everyone shares that view. Few fund managers have been more successful than Cathie Wood, the chief executive of ARK Invest and fund manager of the ARK Innovation ETF (ARKK) and ARK Genomic Revolution ETF (ARKG) which according to FactSet have drawn in more inflows than any other actively managed stock exchange-traded fund over the last 12 months. In a monthly webinar, Wood made the argument against stocks being in a bubble.

  • Cannabis stocks light up Reddit as sector surges to new highs

    Interest from retail investors appeared to lift cannabis stocks broadly higher on Wednesday, signaling that the recent trading frenzy behind Reddit favorites such as GameStop is shifting to other companies. Shares of Tilray jumped 40% in morning trading, while shares of Canopy Growth Corp and Aurora Cannabis Inc both rallied more than 12%. The ETFMG cannabis stocks exchange-traded fund, which has more than doubled in value since November's U.S. presidential elections, gained nearly 10%, while the broad S&P 500 index edged just 0.2% higher before turning lower.

  • This Could Be The Biggest EV IPO Ever With Value Topping Investor Ford's

    The highly anticipated Rivian IPO could happen as soon as September with the electric truck startup seeking a valuation of at least $50 billion, Bloomberg reported.

  • 2 “Strong Buy” Cannabis Stocks Showing Monster Growth

    Investors have been fixated on growth companies over the past year, and one segment which has been on the rise is the fledgling cannabis industry. The sector offers a unique proposition and the prospect of further growth, as there is still a major catalyst on the horizon which will completely alter the industry. As expected, a Democrat led senate has been good news for those banking on marijuana reform at the federal level; And it looks like the anticipated changes could happen faster than initially expected. Backed by Senate majority leader Chuck Schumer, Democratic Senators have stated that they will push for federal-level legalization of marijuana, promising “a unified discussion draft on comprehensive [cannabis] reform” in the first half of this year. The statement feeds expectations that the Democratic Congressional majority will pass – and that President Biden will sign – a bill to legalize marijuana. Investors are also looking at further state-level legalization moves; one key state in this regard is New York. So, the cannabis industry is looking up. There is an expanding network of state legalization regimes, and expectations of a change in federal policy; both are putting upward pressure on cannabis shares. Against this backdrop, we used TipRanks’ database to find two cannabis stocks that have been earmarked as 'Strong Buys' by the analyst consensus. Both have posted impressive year-to-date performances, and stand to rise even more in the year ahead. Village Farms International (VFF) We will start with Village Farms International, a company that has long been involved in the niche agricultural business. The company started out as a farmer, producing high-quality greenhouse vegetables year-round for sale in the North American market. That background fit the company well for a transition to the cannabis industry – Village Farms has experience in greenhouse production and industrial-scale growing. Village Farms’ shares are showing a tremendous growth profile, up 327% in the past 12 months – with a strong spike in recent days. Two important pieces of news precipitated the surge since the end of January. First, the company has fully repaid – ahead of schedule – the $15 million debt it incurred during its November acquisition of the cannabis growing company Pure Sunfarms. And second, Village Farms increased its investment in the Asian cannabinoid company Altum by 50%, to hold a 10% stake in the company. The move increases the international reach of Village Farms, and its ability to increase Altum holdings in the future. The company was able to fund these moves because it had a successful equity sale in January, putting an additional 10.8 million shares on the market, and raising US$135 million in new capital. In addition to its strong capital and expansion positions, Village Farms has been reporting solid financial results. The company saw US$43 million in revenue for 3Q20, a gain of 12.5% year-over-year. EPS came in at 1 cent per share, a turnaround from the US$0.10 loss in the year-ago quarter. Covering Village Farms for Craig-Hallum, 5-star analyst Eric Des Lauriers writes: “Village Farms has clearly established itself as the leading cannabis producer in Canada with #1 brand share and industry-leading profitability. Canadian cannabis sales in 2020 through October (latest available) were up 128% y/y, and dispensary counts are set to accelerate through 2021, providing a tailwind to VFF revenues.” Turning to the US markets, and VFF’s position in Canada’s larger neighbor, the analyst goes on to add, “With 5.7M SF of greenhouses in TX, the company also has real US optionality, which is finally being appreciated by investors after the GA election. VFF has historically been undervalued compared to less profitable peers, but we expect shares to continue working higher … as the prospect for US reform increases throughout the year.” To this end, Des Lauriers rates VFF a Buy, and his $25 price target suggests the stock has room for ~26% upside in the coming year. (To watch Des Lauriers’ track record, click here) Overall, there are 3 recent reviews on VFF shares, and all are Buys, giving the stock a Strong Buy analyst consensus rating and showing a general agreement on Wall Street about the company’s strengths. Shares are priced at $19.90, and the $24.33 average price target implies an upside of ~23% for the year ahead. (See VFF stock analysis on TipRanks) TerrAscend Corporation (TRSSF) The next cannabis stock we’re looking at, TerrAscend, is another major cannabis producer in both the US, Canada, and Europe. The company is involved in both the medical and recreational sides of the market, and both grows and produces cannabis and markets a range of products through numerous brand names. TerrAscend’s US operations are located in California, Pennsylvania, New Jersey, and Utah, and the company looks to expand as more states legalize cannabis. In a strong sign of the cannabis industry’s strength, TRSSF shares are up a sky-high 624% over the past 12 months. Growth has been fueled by expansion of the cultivation operations in California and Pennsylvania, and by the move into the adult-use recreational market in New Jersey. Last month, TerrAscend closed a non-brokered private placement stock sale, putting more than 18 million common shares on the market. The sale price was C$12.35 (US$9.72), and the offering grossed C$224 million (US$176.3 million). The bulk of the proceeds – some 80% of the total – was put up by four large US-based institutional investors. The funds raised will be used to continue expansion of the company’s cultivation operations (TRSSF has plans to expand growing and manufacturing ops in New Jersey), as well as to pursue merger & acquisition activities. TerrAscend’s rapid growth and strong future prospects have attracted attention from top-rated analysts, including 5-star analyst Eric Des Lauriers of Craig-Hallum (stated above). "TerrAscend is a leading multi-state operator (MSO) in the US cannabis market with top-tier management, assets, and access to deal flow. We have been bullish on the company since initiating coverage last year and are happy to say the TRSSF team has exceeded our expectations, generating rapid increases in margins and operating leverage that have earned them a place solidly in the Top Tier of MSOs," Des Lauriers noted. The analyst summed up, "[With] US$280M+ raised since the elections and federal reform moving quicker than expected, we think TRSSF does deserve a premium to peers." In line with his bullish comments, Des Lauriers rates TRSSF shares a Buy, and has a $20 price target that implies a ~31% upside potential for the next 12 months. Once again, we’re looking at a stock with broad agreement from Wall Street’s analysts – the Strong Buy consensus rating is unanimous, based on 7 recent reviews. Shares are selling for $15.30, and their recent appreciation has pushed that price almost up to the $15.43 average price target. (See TRSSF stock analysis on TipRanks) To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Poorer countries copied America’s money-printing spree—and are paying the price

    The Federal Reserve and other powerful central banks have viewed a curiously long bout of low inflation as proof that stimulating the economy through unconventional money-printing measures can ease the pain of downturns. As the pandemic spread, a slew of central banks from India to Turkey to South Africa for the first time delved head-long into their own unconventional monetary policy, so-called “quantitative easing”, buying up government debt and corporate bonds to stabilize their currencies and boost their recoveries. Prioritizing economic support over inflation risk seemed like the right move: Many emerging market central banks initially offset the impact of fleeing foreign investors and rising borrowing costs, while helping to lift their stock prices.

  • Apple Car: After Hyundai Fallout, Rumors Of Renault Partnership Appear

    The Apple Inc. (NASDAQ: AAPL) Car project continues to heat the market, although not directly the Apple stock. For some time, the Cupertino company has been working on a fully autonomous electric car, but it doesn’t seem to have found the right partner among car manufacturers so far. Apple-Hyundai Deal Is Off: Until a few days ago, the agreement with Hyundai Motor Company Ltd. (OTC: HYMTF) seemed like a done deal. The South Korean company - after the first successful approaches last January - was ready to make the Kia plant in West Point (Georgia) available to Apple, but some days ago the process came to a screeching halt, apparently due to internal disagreements within the Hyundai board. See also: How To Buy Apple Stock Speculations On Renault: However, Apple has plenty of options. With the Hyundai-Kia hypothesis fading out, a possible partnership with Renault ADR (OTC: RNLSY) seems to be gaining ground, with the French automaker being an ally of other major Asian car manufacturers such as Nissan Motor Co. Ltd. (OTC: NSANY) and Mitsubishi. Apple's goal would be to strike an agreement with an Asian company, probably to intercept the (potential) endless electric car market in the continent. Renault Stock On The Rise: After rumors of a possible deal with Renault - the automaker which manufactures Zoe, one of the best-selling electric cars in the world - the French automaker's shares spiked yesterday, rising again above $40, which Renault hadn’t reached since December 2019. However, shared dropped 2% today, perhaps due to a lack of confirmation or just for some profit-taking. See Also: Why Apple Could Emerge As Tesla's 'First True Competitor' Time Until 2024: "We are receiving several requests for cooperation in the joint development of autonomous electric vehicles from various companies, but they are at an early stage and nothing has been decided," Hyundai executives said in a note in which they dismissed the deal with Apple. In conclusion, the Apple Car will have to wait for now: there is time until 2024, which is the expected release date. This article originally appeared on Financialounge.com and was translated from Italian to English. It does not represent the opinion of Benzinga and has not been edited. For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España. See more from BenzingaClick here for options trades from BenzingaBoom In Digital Payments: Here Are The Stocks To Bet On© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Ark's Cathie Wood explains how bitcoin could increase by $400,000

    Cathie Wood and Ark Invest see bitcoin adoption by companies as a cash alternative on the balance sheet as sending btc higher by $40,000.

  • 2 Under The Radar Electric Vehicle Stocks That Could Soar In 2021

    The green energy industry has been red-hot throughout 2020. Here are the 2 companies could do very well in 2021

  • Your next stimulus check is just weeks away — will you get the full $1,400?

    Congressional leaders are hurrying the new payments along. Will you get one — and when?

  • Tesla Rival Rivian Prepares To Go Public This Year At $50B Valuation: Report

    Amazon.com, Inc (NASDAQ: AMZN)-backed Rivian Automotive Inc may go public as early as September, Bloomberg reported Tuesday. What Happened: The Michigan-based automaker — also backed by Ford Motor Company (NYSE: F) — could achieve a valuation of nearly $50 billion or more, people familiar with the matter told Bloomberg. See also: How to Invest in Tesla Stock The IPO timing is not certain and the listing could occur in late 2021 or even 2022, according to Bloomberg’s sources. The automaker has reportedly been in negotiations with banks about its IPO plans. Why It Matters: The Tesla Inc (NASDAQ: TSLA) rival is valued at $27.6 billion, as of its latest funding round in January, noted Bloomberg. Amazon has an agreement with Rivian for the delivery of 100,000 electric delivery vans as it strives to be carbon neutral by 2040. EV makers have gone public of late through mergers with special purpose acquisition companies. Fuel-Cell truck startup Hyzon Motors announced a merger with Decarbonization Plus Acquisition Corporation (NASDAQ: DCRB) on Tuesday. Last year, Nikola Corporation (NASDAQ: NKLA) merged with VectoIQ, a SPAC that raised more than 0 million. California-based Lucid Motors is speculated to be pondering a merger with Churchill Capital Corp IV (NYSE: CCIV). Peter Rawlinson, Lucid’s CEO refused comments on the possible merger last week. Click here to check out Benzinga’s EV Hub for the latest electric vehicles news. Photo courtesy: Richard Truesdell via Wikimedia See more from BenzingaClick here for options trades from BenzingaReddit User Who Leaked Tesla's Bitcoin Investment News Was Just HighThis Is How Tesla Could Let You Buy An EV With Bitcoin© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Dow Reverses Lower As Apple, Tesla Fall; Tilray Skyrockets 58%, While Nvidia Breaks Out

    The Dow Jones Industrial Average traded lower midday after reversing from early gains, as Tilray stock skyrocketed as much as 58%. Tesla skidded 5%. General Motors tumbled after a chip-shortage warning, while Twitter surged on strong earnings results.

  • Chamath Palihapitiya's 12 SPAC, PIPE Deals: Tracking 2021 And Lifetime Performance

    Chamath Palihapitiya has been labeled the King of SPACs and it could come with good reason. What Happened: Palihapitiya has launched six SPACs on his quest to bring SPACs with tickers IPOA to IPOZ to market. Three of the SPACs have completed deals, one has a pending merger and two are still searching for targets. Palihapitiya has also been involved with six SPACs as a member of the private investment in public equity, commonly referred to as the PIPE. The investor tweeted last Friday to “trust the process” after a short report from Hindenburg Research attacked his recently completed SPAC deal Clover Health Investments (NASDAQ: CLOV). The tweet shows that all 12 deals he has been a part of have performed well. Related Link: 5 Things You Might Not Know About Chamath Palihapitiya The Palihapitiya SPACs: A look at the SPACs. Virgin Galactic (NYSE: SPCE) was the first SPAC deal completed in the IPOA to IPOZ run from Palihapitiya. Shares of the space company are up 129% year-to-date and up over 440% since the IPOA offering. Opendoor Technologies (NASDAQ: OPEN) is an on-demand digital experience to buy and sell a home. Shares of Opendoor are up 17% year-to-date and up 166% since the shares of IPOB went public. Clover Health offers Medicare Advantage plans. The company says it holds a top-three market share position in its established market. Clover Health shares are down 23% year-to-date but are up 29% since the IPOC offering. Social Capital Hedosophia Holdings Corp IV (NYSE: IPOD) has not named a merger target yet. Shares of the SPAC are up 21% year-to-date and up 65% over their lifetime. Social Capital Hedosophia Holdings Corp V (NYSE: IPOE) announced a merger with fintech company SoFi in early January. Shares of the SPAC are up 86% year-to-date and up 131% over their lifetime. Social Capital Hedosophia Holdings Corp VI (NYSE: IPOF) has not named a merger target yet for the largest SPAC offering from Palihapitiya. Shares of the SPAC are up 26% year-to-date and up 55% over their lifetime. The PIPE Deals: Along with his own SPACs, Palihapitiya has funded six SPAC deals as a member of the PIPE. MP Materials (NYSE: MP) is a rare earth mining company that is the "thing behind the thing" to support electric vehicles and wind turbines in the future. Shares of MP Materials are up less than 1% on the year and up 222% over their lifetime. Desktop Metal Inc (NYSE: DM) is a 3D printing company bringing additive manufacturing 2.0 to large industrial customers. Shares are up 82% year-to-date and up 212% over their lifetime. INSU Acquisition Corp II (NASDAQ: INSU), a pay per mile insurance company, announced a SPAC merger in November. Palihapitiya invested as part of the PIPE choosing the company as his way to attack the growing disruptive insurance market. Shares are up 13% year-to-date and up 76% over their lifetime. ArcLight Clean Transition Corp (NASDAQ: ACTC) is bringing electric bus company Proterra public in a SPAC deal that includes Palihapitiya as part of the PIPE. Shares are up 125% year-to-date and up over 149% since going public. TS Innovation Acquisition Corp (NASDAQ: TSIA) is bringing enterprise SaaS company public in a SPAC deal. Shares are up 65% year-to-date and up over 67% since going public. Spartan Acquisition Corp II (NYSE: SPRQ) is taking residential solar financing company Sunlight Financial public. Shares are up 22% year-to-date and up over 27% since the offering. Disclosure: The author is long shares SPCE, IPOD, SPRQ. Strong Performance And Demand: The 12 SPAC deals that Palihapitiya has been involved in have produced an average 47% return for shareholders in 2021. The average lifetime gain for the 12 SPAC deals involving the SPAC King is 137%. A Twitter poll tracking how many of the 12 SPACs are currently and were at some point owned by responders showed strong interest in Palihapitiya SPACs. Okay new question for my #spacsquad on this Friday night. Of the 12 Chamath spacs listed below, how many do you currently own and how many of them have you owned at some point. For me it is 4/6. @SpacGuru @SpacTiger @BillSPACman @Mindwalletbody @stocktalkweekly @SPACtrack https://t.co/Xv7KNbP8U5 — Chris Katje (@chriskatje) February 5, 2021 See more from BenzingaClick here for options trades from BenzingaZillow, Opendoor Can Triple While Disrupting Real Estate Market: Loup VenturesStarlink Begins Taking Preorders, Musk Eyes IPO When Cash Flow Predictable© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Electric Aircraft Startup Archer to Go Public Via SPAC Atlas Crest Investment; Shares Lift Off

    By John Jannarone and Jarrett Banks Electric aircraft startup Archer Aviation Inc. is going public by merging with a special purpose acquisition company, or SPAC, called Atlas Crest Investment Corp. (NYSE: ACIC), the startup said in a statement. The $3.8 billion deal is expected to close in the second quarter of 2021, and will provide about $1.1 billion in […]

  • SpaceX opens Starlink satellite internet pre-orders to the public

    SpaceX’s Starlink is taking another small step towards expanding its public beta test by opening up pre-orders to budding customers. Whereas previously you could register your interest for the chance to sign up to the satellite internet service, entering your details now gives you the ability to put down a $99 deposit. Additional charges include $499 for the Starlink Kit, including a Wi-Fi router and dish, and extras for shipping and tax.

  • 10 Tax Breaks for People Over 50

    The perks of agingOnce you turn 50, and especially after age 65, you can qualify for extra tax breaks. Older people get a bigger standard deduction, and they can earn more before they have to file a tax return at all.

  • Reddit User Who Leaked Tesla's Bitcoin Investment News Was Just High

    A Reddit poster who claimed to be in the know of Tesla Inc’s (NASDAQ: TSLA) investment in Bitcoin (BTC) has confirmed that the information he made public on Jan. 2 was not true, the New York Post reported Tuesday. What Happened: After Tesla made its Bitcoin investment announcement on Monday, attention turned to the Reddit post by the user TSLAInsider made five-weeks prior. See also: How to Buy Bitcoin (BTC) “I am a software dev working at R&D at Tesla in California, over the past 72 hours our company bought 24701 BTC at an average price of 33142$,” the user with the handle TSLAinsider posted on Reddit last month,” the post read, as reported by Reuters. The Post claimed that the Reddit user behind the TSLAInsider handle is a 24-year old German political science student named Hendrik. “If you want to know the truth: I am a young German guy and I was on Acid while I did this post in the last month,” Hendrik told the Post in an interview. “I had this afflatus that Elon is going to buy Bitcoin, so I created this trollpost. And now all the newspapers around the globe are writing about it, its kinda funny and scary to be honest.” The user posted a link to the Post’s story and appeared to corroborate it. Why It Matters: Reddit forums have been in the increased spotlight ever since r/WallStreetBets took Wall Street bigwigs head-on with a short squeeze in the shares of GameStop Corp (NYSE: GME), AMC Entertainment Holdings Inc (NYSE: AMC), Blackberry Ltd (NYSE: BB), and others. See Also: Reddit Pays Ode To GameStop 'Underdogs' In 5-Second Super Bowl Ad Treasury Secretary Janet Yellen last week said last week that financial market regulators needed to take stock of the frenzy surrounding GameStop and other stocks before taking any action, according to Reuters. The social media platform doubled its valuation to $6 billion as it raised $250 million in Series E funding from existing and new investors. Bitcoin touched its all-time high of $48,003.72 on Tuesday after the Tesla announcement. The cryptocurrency traded 0.10% higher at $46,392.83 at press-time. On Tuesday, Grayscale Bitcoin Trust (OTC: GBTC) closed 4.84% higher at $47.90. Price Action: Tesla shares closed nearly 1.6% lower at $849.46 on Tuesday and fell 0.47% in the after-hours session. Read Next: This Is How Tesla Could Let You Buy An EV With Bitcoin See more from BenzingaClick here for options trades from BenzingaThis Is How Tesla Could Let You Buy An EV With BitcoinTesla China EV Sales Doubled To .6B In 2020© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Cramer Gives His Opinion On AMD, Alibaba And More

    On CNBC's "Mad Money Lightning Round," Jim Cramer said AMD CEO Lisa Su is the toughest person in the business. He would buy Advanced Micro Devices, Inc. (NASDAQ: AMD). The construction business is a very hard business, but if you had to navigate it, it would be Jacobs Engineering Group Inc (NYSE: J), said Cramer. Dycom Industries, Inc. (NYSE: DY) is terrific, said Cramer. It had a big run, but there is plenty of business for the company. See also: How to Buy AMD Stock Cramer prefers Toll Brothers Inc (NYSE: TOL), Lennar Corporation (NYSE: LEN) and D. R. Horton Inc (NYSE: DHI) over Green Brick Partners Inc (NASDAQ: GRBK). Alibaba Group Holding Ltd - ADR (NYSE: BABA) got through its problems with the government and now it is free to make money, said Cramer. He wants the stock to come down a bit before he pulls the trigger. Cramer would hold onto Sherwin-Williams Co (NYSE: SHW) because it had an extraordinary quarter. See more from BenzingaClick here for options trades from BenzingaScott Nations Crude Oil Futures Trade'Halftime Report' Picks For February 8: AMD, Yum China And More© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • 3 Big Dividend Stocks Yielding at Least 9%; BTIG Says ‘Buy’

    How important are dividends to a stock investor’s profits? Speaking before the Financial Industry Regulatory Authority (FINRA) on October 15, 2007, investing guru John Bogle laid out the case: “Over the past 81 years… reinvested dividend income accounted for approximately 95 percent of the compound long-term return earned by the companies in the S&P 500. These stunning figures would seem to demand that mutual funds highlight the importance of dividend income.” So in other words, dividends are pretty important! Of course, right now the average stock on the S&P 500 is only paying about a 2% dividend yield, which isn’t a lot. If you want to do better than that, though, the REIT sector is a great place to begin your search for high-yield dividend stocks. REITs are companies that acquire, own, operate, and manage real estate portfolios, usually some combination of residential or commercial real properties, or their associated mortgage loans and mortgage-backed securities. Tax law requires that these companies return profits directly to shareholders, and most of them choose dividends as their vehicle of choice for compliance, resulting in frequent high dividend yields across the sector. The slowly ebbing COVID pandemic was hard on real estate managers, as tenants had trouble making rents and owners had trouble leasing vacant space. However, BTIG analyst Tim Hayes believes there are reasons to stay bullish on CRE properties specifically. "While we recognize the headwinds to commercial real estate (CRE) fundamentals and the potential risk to equity/earnings power, we believe there are several reasons to be constructive, especially with the sector trading at a discount to historical levels and offering attractive dividend yields at wide spreads to benchmark rates," Hayes commented. Against this backdrop, we’ve opened up the TipRanks database to get the latest stats on Hayes’ CRE choices. These are stocks that the analyst initiated Buy ratings on, pointing out their high dividend yield. We are talking about at least 9% here. Ares Commercial Real Estate (ACRE) The first dividend pick we are looking at is Ares Commercial Real Estate, a company focused on the commercial real estate mortgage sector. Ares boasts a diversified portfolio – featuring office space, apartments, hotels, and mixed-use properties – mainly across the Southeast and West. The company has over $2 billion invested in 49 separate loans, 95% of which are senior mortgage loans. At the end of October, the company released 3Q20 earnings (the last reported quarter), showing $22.4 million in total revenue, for a 13% year-over-year gain. The 45-cents earnings per common share was up 40% since the prior year. Furthermore, Ares closed a $667 million commercial real estate collateralized loan obligation, with firmed up funding on 23 senior loans. On the dividend front, Ares declared in December its 4Q20 dividend. The payment, at 33 cents per common share, was paid out on January 15 – and is fully covered by current income levels. At current rates, the dividend annualizes to $1.32 and gives an impressive yield of 10.50%. Among the bulls is Hayes, who wrote: “We believe shares of ACRE are unfairly discounted relative to other commercial mREITs given strong Ares sponsorship, a very healthy balance sheet, and limited exposure to at-risk assets.” In his view, this leaves the company “well positioned to face the headwinds from COVID-19.” In line with these comments, Hayes rates ACRE a Buy, and his $13.50 price target implies a 10% upside from current levels. (To watch Hayes’ track record, click here) Only one other analyst has posted a recent ACRE review, also rating the stock a Buy, which makes the analyst consensus here a Moderate Buy. Shares are priced at $12.28, and their $12.75 average price target suggests room for modest ~4% growth. (See ACRE stock analysis on TipRanks) KKR Real Estate Finance Trust (KREF) Next up we have KKR, which operates in the commercial real estate sector, with almost half of its holdings in the states of New York, Illinois, Pennsylvania, and Massachusetts. The company both owns and finances commercial properties; 83% of its activities are with apartment dwellings and office spaces in desirable urban locations. KKR’s quality can be seen in the company’s quarterly results. The liquidity position was strong – KKR reported $700.6 million available at the end of 3Q20, the last quarter reported. The 56-cent EPS was up 7% sequentially, and 36% year-over-year. Further evidence of KKR’s sound position came at the beginning of January, when the announced it had closed 7 new commercial loans in Q4, totaling $565.4 million. This level of activity is a clear sign that KKR is recovering from the pandemic-related economic turndown. The solid foundation put the company in position to continue its dividend – which has been kept reliable for four years now. The most recent declaration, made in December, was for a 43-cent per common share dividend that was paid out in mid-January. That rate gives an annual payment of $1.72 per common share, and a robust yield of 9.7%. Covering KREF, Hayes is most impressed by the company’s move back toward proactive loan origination, saying, “We view 4Q20 origination activity to be in line with pre-pandemic production, and demonstrates a shift from “defense” to “offense” as transaction activity has picked up and the capital markets remain accommodative. We expect increased capital deployment to support earnings power and dividend coverage, and could potentially warrant an increase in the dividend as the macroeconomic outlook improves.” To this end, Hayes gives KREF a Buy and sets a $19.50 price target that indicates ~6% growth from current levels. (To watch Hayes’ track record, click here) Wall Street has been keeping quiet on all things KREF, and the only other recent review also recommends a Buy. Put together, the stock has a Moderate Buy consensus rating. Meanwhile, the average price target stands at 19.26 and implies a modest ~5% upside. (See KREF stock analysis on TipRanks) Starwood Property Trust (STWD) For the third stock on Hayes’ list of picks, we turn to Starwood, a commercial mortgage REIT with a varied portfolio of first mortgages and mezzanine loans, in the $50 million to $500 million range. The company operates in the US and Europe, boasts a $5.9 billion market cap, and has offices in New York, London, and San Francisco. Starwood’s high-end portfolio has brought it solid earnings, even during the ‘corona recession’ of 2020. The company recorded $152 million in GAAP earnings for 3Q20, coming out to 53 cents per share, for gains of 8% sequentially and 6% year-over-year. With that in the background, we can note the company’s dividend, which has been held steady at 48 cents per share for over two years. The last declaration was made in December, and the dividend was paid out on January 15. At the current rate, it annualizes to $1.92 and the yield is 9.23%. Once again, we’re looking at a stock that Hayes recommends to Buy. “We view STWD to be one of the few “blue chips” in the commercial mREIT sector given its size, liquidity, best-in-class management team, strong balance sheet, and diversified investment platform which has consistently generated stronger ROEs than peers. To that end, STWD is one of few commercial mREITs that neither restructured its liabilities with expensive rescue capital nor cut its dividend since the onset of COVID-19,” Hayes opined. Overall, there is little action on the Street heading STWD's way right now, with only one other analyst chiming in with a view on the company's prospects. An additional Buy rating means STWD qualifies as a Moderate Buy. However, the $21 average price target suggests shares will remain range bound for the foreseeable future. (See STWD stock analysis on TipRanks) To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.