The Dow Jones Industrial Average jumped 138.40 points, or 0.79 percent, to 17,757.91. The S&P 500 gained 14.31 points, or 0.69 percent, to 2 Hydro Flask Hydration 40 OZ Wide Mouth W Straw Lid Rouge Pas Cher ,077.42. The Nasdaq Composite Index was up 26.26 points, or 0.53 percent, to 5,013.12.
U.S. private sector employment added 237,000 jobs from May to June, beating market expectations of 220,000 Hydro Flask Hydration 32 Oz Wide Mouth W Straw Lid Noir Pas Cher , according to the June ADP National Employment Report released Wednesday. The ADP figure is watch closely as a pre-indicator for the nonfarm payrolls report due Thursday.
Meanwhile, the June manufacturing Purchasing Manager's Index ( PMI) registered 53.5 percent, an increase of 0.7 percentage point over the May reading of 52.8 percent, slightly above market estimates, said the Institute Supply Management (ISM) in its monthly survey. A reading above 50 indicates growth, while a reading below 50 suggests contraction.
"In the near future, manufacturing is likely to continue to mirror the dollar's relative value to our trading partners Hydro Flask Hydration 32 Oz Wide Mouth W Straw Lid Grise Pas Cher , the euro being the most important. For real-time updates on the health of the manufacturing sector, keep an eye on the EURUSD exchange rate," said Jay Morelock, an economist at FTN Financial, in a note.
In Europe, the latest emergency Eurogroup talks on the long- anticipated Greek debt deal ended fruitless on Wednesday afternoon with creditors telling Athens that discussions would resume after Sunday's referendum on whether to accept the stringent offers made by institutions last week.
Greek Finance Minister Yanis Varoufakis released shortly afterwards a statement presenting the leftist government's arguments for a "No" vote.
Without a bailout safety net as from Tuesday at midnight, Greece is in arrears status to the International Monetary Fund. Its banks have been shut and capital controls in place since Monday.
German Chancellor Angela Merkel said Wednesday that there would be no negotiation over a new bailout program to Greece until the country's referendum on Sunday Hydro Flask Hydration 32 OZ Wide Mouth W Straw Lid Verte Pas Cher , though the door for talks remained open.
In corporate news, General Motors Company's shares fell 0.87 percent to 33.04 U.S. dollars apiece on Wednesday after the car maker reported a 3-percent decline in its total sales for the month of June.
The CBOE Volatility Index, often referred to as Wall Street's fear gauge, fell 11.74 percent to end at 16.09 Wednesday.
In other markets, oil price plummeted Wednesday after government data showed that U.S. inventories rose unexpectedly last week.
The U.S. benchmark, West Texas Intermediate for August delivery moved down 2.51 dollars to settle at 56.96 dollars a barrel on the New York Mercantile Exchange. The global benchmark, Brent crude for August delivery decreased 1.58 dollars to close at 62.01 dollars a barrel on the London ICE Future Exchange.
The U.S. dollar soared against other major currencies on Wednesday as positive jobs data from the country pointed to stronger U.S. economy.
In late New York trading Hydro Flask Hydration 32 OZ Wide Mouth W Straw Lid Jaune Pas Cher , the euro fell to 1.1048 dollars from 1.1144 dollars in the previous session, while the dollar bought 123.18 Japanese yen, higher than 122.33 yen of the previous session.
Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as the U.S. dollar's strength offset investors' fears over the Greek default.
The most active gold contract for August delivery dropped 2.5 dollars, or 0.21 percent, to settle at 1,169.30 dollars per ounce. Keeping The IRS Happy!
Posted by nick_niesen in Business on November 8th, 2010
The last thing most people think about when starting a business is doing taxes. But proper planning will make doing your taxes much easier - and keep the IRS happy!
Here are 3 simple tips for keeping proper records:
Not only will this make record keeping a lot simpler, but if you are ever audited (having your tax return reviewed in detail by the IRS), you can prove your expenses, and save yourself money.
2. Write down all your expenses and income as they happen.
As your business grows, you'll have more and more activities to keep you busy. The last thing you'll want to do each April 15 is to organize your records for the year. So, it's a good idea to write down all your financial activities as they happen. You'll find preparing your taxes will take much less time if you are organized.
3. Learn how to save money on your taxes.
As you learn about taxes, you'll find that there are many deductions (expenses that reduce your income Hydro Flask 12 OZ Coffee Pas Cher , and therefore your taxes) you can take that are not obvious. When using your home office, you may be able to deduct (at least partially) repairs you make around the house, utilities, your home's value at the time you start your business, and more.
The more you know about taxes, and the more organized you are in keeping records, the more time and money you'll save at the end of every year!
What happens if you don't keep proper records?
Individuals with small businesses are the most likely to have their tax returns audited by the IRS. If you don't have a receipt Hydro Flask 16 OZ Coffee Pas Cher , you will likely lose the deduction and owe the IRS money.
And while an audit does not have to be feared, you should be prepared - the more organized your records, the easier it will be to prove your case.
If you don't have one, get a file box and some folders at your local office supply store (these supplies are deductible, so keep your receipts!) and create a filing system for your business. Put all your receipts in the proper folders, and put them in a safe place.