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5 ways to avoid penalties on your taxes

As a certified public accountant, the most common question I hear in the spring is, “How much do I actually have to pay the IRS right now?” In a perfect world, the IRS wants 90% of your total tax liability paid “ratably” (equally) throughout the year. The problem? Most successful people don’t have perfectly predictable incomes. Whether it’s a year-end bonus, a business windfall, or a volatile stock market, hitting that 90% target is like trying to pin a tail on a moving donkey. If you miss, you face underpayment penalties. Fortunately, the tax code provides several ...

Business briefs

MONUS FELLOWS NAMED: Six students from the Williamson College of Business Administration at Youngstown State University will spend summer gaining hands-on entrepreneurial experience through the Nathan H. and Frances T. Monus Entrepreneurship Fellows Program, working directly with startup and growth-stage companies across the region. The Monus Entrepreneurship Fellows Program connects students with entrepreneurial ventures and innovation-focused employers, allowing them to apply classroom learning to real-world business challenges while building professional experience in fast-paced ...

A look at new trillionaire Elon Musk’s vast empire

NEW YORK (AP) — Elon Musk, the world’s richest man and now first-ever trillionaire, controls a lot of different businesses. Here’s a look at Musk’s vast business empire. SpaceX Musk is CEO of SpaceX, which he founded in 2002. The company has grown far beyond rockets. It owns satellite communications service Starlink, a big source of cash for the company that generated $4.4 billion in operating income last year. SpaceX also houses social media platform X, formerly known as Twitter, which Musk bought for $44 billion in 2022 and parked it under xAI, the maker of the Grok ...

5 best used performance cars for less than $25,000

If you like the idea of owning a fun-to-drive car but can’t afford a new one, this summer is an ideal time to consider buying used. Right now, quite a few performance cars that might have been out of reach for you when new can be had for less than $25,000 on the used market. Edmunds’ editors reviewed what’s available for under 25 grand and came up with five of their favorites. There is a car here for every kind of enthusiast, from a V8-powered coupe with tire-smoking torque to a four-door hatchback with room for your mountain bike. 2015-2018 BMW 2 Series The BMW 2 Series is ...

US gas prices dip below $4 for 1st time since March but remain 25% higher than last year

NEW YORK (AP) — The average U.S. price for a gallon of gas fell below $4 on Thursday, hitting a level not seen since the first full month of the war with Iran and providing a bit of relief to consumers squeezed by soaring costs. Although the tentative peace deal between the U.S. and Iran and the resumption of oil shipments through the Strait of Hormuz are pushing energy prices downward, the cost of gas is still much higher than before the war began on Feb. 28. According to motor club AAA, a gallon of regular gasoline averaged $3.999 on Thursday. It was the first time since late ...