FANG stocks just lost nearly $130 billion in market cap, and chart points to more pain

Facebook, Amazon, Netflix and Alphabet tanked Monday, shedding nearly $130 billion in market cap collectively. Those losses sent Facebook, Netflix and Alphabet into a bear market, having dropped at least 20% from recent records. The NYSE Fang+ index, which tracks the big tech companies and a handful of other stocks, could be in for more pain, says Ari Wald, head of technical analysis at Oppenheimer. The NYSE Fang+ index tumbled 4% on Monday, and remains just 1% higher for the year. “They could a


Facebook, Amazon, Netflix and Alphabet tanked Monday, shedding nearly $130 billion in market cap collectively. Those losses sent Facebook, Netflix and Alphabet into a bear market, having dropped at least 20% from recent records. The NYSE Fang+ index, which tracks the big tech companies and a handful of other stocks, could be in for more pain, says Ari Wald, head of technical analysis at Oppenheimer. The NYSE Fang+ index tumbled 4% on Monday, and remains just 1% higher for the year. “They could a
FANG stocks just lost nearly $130 billion in market cap, and chart points to more pain Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: keris lahiff
Keywords: news, cnbc, companies, companies, growth, chart, stocks, market, nearly, index, trading, fang, billion, antitrust, pain, sanchez, cap, lost, points, microsoft, nyse


FANG stocks just lost nearly $130 billion in market cap, and chart points to more pain

Fears of increased government scrutiny just crushed FANG stocks.

Facebook, Amazon, Netflix and Alphabet tanked Monday, shedding nearly $130 billion in market cap collectively. Those losses sent Facebook, Netflix and Alphabet into a bear market, having dropped at least 20% from recent records.

The drop came on the first trading day after The Wall Street Journal reported that the Justice Department is readying an antitrust investigation against Google over its search practices and other issues. Alphabet declined to comment.

The NYSE Fang+ index, which tracks the big tech companies and a handful of other stocks, could be in for more pain, says Ari Wald, head of technical analysis at Oppenheimer.

“As a group, this particular index has not fared well. If you look at the NYSE Fang+ index — it’s an equal weighted composite of 10 related names, it’s the four we know plus stocks like Tesla and Alibaba are in there as well — it’s trading at the same level it first traded at back in December of 2017, ” Wald said on CNBC’s “Trading Nation ” on Monday. “It’s been a very tough market for this index in what’s really been a better environment for high growth in general.”

The NYSE Fang+ index tumbled 4% on Monday, and remains just 1% higher for the year. By comparison, high-growth sectors including software, consumer discretionary and communication services have rallied by at least 10%.

“For this particular index, I can say that there’s really no signs that this underperformance is abating, and for exposure we prefer software and services. We think that’s going to be the part of high growth that outperforms,” said Wald.

Gina Sanchez, CEO of Chantico Global, says just the threat of increased regulatory oversight could stymie the FANG trade for some time.

“These companies will be very, very mired in the process of being scrutinized,” Sanchez said during the same segment. “They could actually keep these companies so involved in this process over the next two years that they won’t be able to effectively run and do the things that growth companies do.”

The degree of oversight could mirror the intense antitrust scrutiny given to Microsoft during the 1990s, says Sanchez. The U.S. government accused Microsoft of illegally maintaining a monopoly, a case it won in a 2000 ruling.

“The market response is appropriate given the fact that everybody saw what happened to Microsoft, they had to take their eye off the ball, and so this could be one of those moments,” said Sanchez.

Microsoft’s stock price was largely unaffected over the course of the case. From the point at which the Department of Justice filed antitrust charges in May 1998 to the April 2000 ruling, Microsoft shares more than doubled.


Company: cnbc, Activity: cnbc, Date: 2019-06-04  Authors: keris lahiff
Keywords: news, cnbc, companies, companies, growth, chart, stocks, market, nearly, index, trading, fang, billion, antitrust, pain, sanchez, cap, lost, points, microsoft, nyse


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Huawei executive accused of stealing trade secrets from microchip company backed by Microsoft and Dell

Trump has lost his first two attempts to fight ‘all the… The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for… Politicsread more


Trump has lost his first two attempts to fight ‘all the… The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for… Politicsread more
Huawei executive accused of stealing trade secrets from microchip company backed by Microsoft and Dell Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: kate fazzini
Keywords: news, cnbc, companies, backed, microchip, trade, executive, week, trump, thethe, losses, huawei, microsoft, success, president, dell, including, company, setback, nonetheless, stealing, lost, secrets


Huawei executive accused of stealing trade secrets from microchip company backed by Microsoft and Dell

Trump has lost his first two attempts to fight ‘all the…

The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for…

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Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: kate fazzini
Keywords: news, cnbc, companies, backed, microchip, trade, executive, week, trump, thethe, losses, huawei, microsoft, success, president, dell, including, company, setback, nonetheless, stealing, lost, secrets


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Stocks making the biggest moves after hours: L Brands, Avon and NetApp

Trump has lost his first two attempts to fight ‘all the… The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for… Politicsread more


Trump has lost his first two attempts to fight ‘all the… The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for… Politicsread more
Stocks making the biggest moves after hours: L Brands, Avon and NetApp Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: nadine el-bawab
Keywords: news, cnbc, companies, avon, setback, thethe, week, trump, losses, hours, success, moves, biggest, president, making, netapp, including, brands, stocks, nonetheless, lost


Stocks making the biggest moves after hours: L Brands, Avon and NetApp

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Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: nadine el-bawab
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Guggenheim names Anheuser-Busch a ‘best idea’ on its shift away from traditional brands

Trump has lost his first two attempts to fight ‘all the… The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for… Politicsread more


Trump has lost his first two attempts to fight ‘all the… The president may have more success in the court fights to come, including appeals in the cases decided this week. But the two losses are nonetheless a dramatic setback for… Politicsread more
Guggenheim names Anheuser-Busch a ‘best idea’ on its shift away from traditional brands Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, idea, thethe, week, trump, losses, guggenheim, success, away, president, best, anheuserbusch, nonetheless, including, setback, brands, names, shift, lost, traditional


Guggenheim names Anheuser-Busch a 'best idea' on its shift away from traditional brands

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Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, idea, thethe, week, trump, losses, guggenheim, success, away, president, best, anheuserbusch, nonetheless, including, setback, brands, names, shift, lost, traditional


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Haven, the new health venture led by Amazon, Berkshire Hathaway and JP Morgan, just lost its No. 2 exec

Haven, the health joint venture formed last year by Amazon, Berkshire Hathaway and J.P. Morgan, has lost Chief Operating Officer Jack Stoddard just nine months into his new role. Stoddard was Haven’s second hire in 2018, following Atul Gawande, the renowned author and surgeon who was named CEO last June. Stoddard officially ended his tenure at Haven last week, and no replacement has been named. The entity, which is set up as a nonprofit, was named Haven in March and at the time had about a dozen


Haven, the health joint venture formed last year by Amazon, Berkshire Hathaway and J.P. Morgan, has lost Chief Operating Officer Jack Stoddard just nine months into his new role. Stoddard was Haven’s second hire in 2018, following Atul Gawande, the renowned author and surgeon who was named CEO last June. Stoddard officially ended his tenure at Haven last week, and no replacement has been named. The entity, which is set up as a nonprofit, was named Haven in March and at the time had about a dozen
Haven, the new health venture led by Amazon, Berkshire Hathaway and JP Morgan, just lost its No. 2 exec Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: christina farr
Keywords: news, cnbc, companies, exec, venture, reasons, hathaway, stoddard, officer, morgan, havens, early, jp, company, led, lost, named, key, health, haven, berkshire


Haven, the new health venture led by Amazon, Berkshire Hathaway and JP Morgan, just lost its No. 2 exec

Haven, the health joint venture formed last year by Amazon, Berkshire Hathaway and J.P. Morgan, has lost Chief Operating Officer Jack Stoddard just nine months into his new role.

Stoddard, who was most recently general manger for digital health at Comcast, confirmed to CNBC on Thursday that he departed Haven for personal reasons, including the length of his commute from his home in Philadelphia to Haven’s headquarters in Boston. Stoddard was Haven’s second hire in 2018, following Atul Gawande, the renowned author and surgeon who was named CEO last June.

“Jack played an important role in the early stages of Haven, but we understand his decision to leave the company for family reasons,” a spokesperson from Haven said in a statement. “We want to thank him for all of his contributions.”

Stoddard officially ended his tenure at Haven last week, and no replacement has been named.

Losing such a key executive so early in the process could be a big setback for Haven, which has laid out an ambitious effort to bring down health-care costs, starting with the combined 1.2 million employees at the three companies. The entity, which is set up as a nonprofit, was named Haven in March and at the time had about a dozen people.

Other key executives include Chief Technology Officer Serkan Kutan, formerly of ZocDoc, and Dana Gelb Safran, who Haven hired from Blue Cross Blue Shield in Massachusetts to run analytics projects.

Prior to joining Haven, Stoddard worked at Accolade, a health-technology start-up, and at Comcast, the parent company of CNBC. He said the the frequent travel to Boston — five hours by car and around 90 minutes by air each way — was taking him away from his family.

“I wish Atul and the group the best,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-05-16  Authors: christina farr
Keywords: news, cnbc, companies, exec, venture, reasons, hathaway, stoddard, officer, morgan, havens, early, jp, company, led, lost, named, key, health, haven, berkshire


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WeWork urges investors to see losses as ‘investments’ as it reports first-quarter loss of $264 million

In an interview with CNBC to discuss the company’s first-quarter financials, CFO Artie Minson urged investors to view losses as “investments.” WeWork, which recently rebranded as the We Company, said in its first-quarter business update that it lost $264 million in the period, narrowing its deficit from the same period a year ago, when it lost $274 million. Public market investors have punished Uber and Lyft for their billions in losses and uncertain path to profitability. Last year, WeWork lost


In an interview with CNBC to discuss the company’s first-quarter financials, CFO Artie Minson urged investors to view losses as “investments.” WeWork, which recently rebranded as the We Company, said in its first-quarter business update that it lost $264 million in the period, narrowing its deficit from the same period a year ago, when it lost $274 million. Public market investors have punished Uber and Lyft for their billions in losses and uncertain path to profitability. Last year, WeWork lost
WeWork urges investors to see losses as ‘investments’ as it reports first-quarter loss of $264 million Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: deirdre bosa
Keywords: news, cnbc, companies, public, investors, million, 264, uber, lost, investments, money, loss, company, cash, losses, billion, urges, firstquarter, reports, wework


WeWork urges investors to see losses as 'investments' as it reports first-quarter loss of $264 million

Adam Neumann, co-founder and chief executive officer of WeWork. Michael Nagle | Bloomberg | Getty Images

As newly public companies representing the sharing economy, Uber and Lyft stumbled out of the gate. WeWork is trying to prepare a different narrative for Wall Street. In an interview with CNBC to discuss the company’s first-quarter financials, CFO Artie Minson urged investors to view losses as “investments.”

“We really want to emphasize the difference between losing money and investing money,” Minson said Wednesday. “You can lose money or you can invest money. At the end of this quarter, we have these cash flow-generating assets.” WeWork, which recently rebranded as the We Company, said in its first-quarter business update that it lost $264 million in the period, narrowing its deficit from the same period a year ago, when it lost $274 million. Meanwhile, revenue more than doubled to $728.3 million (including $39 million from a program called Creator Awards), as the company expanded into new international markets and bolstered membership for its coworking spaces. Wall Street might need some convincing ahead of its IPO, which WeWork filed for confidentially in December. Public market investors have punished Uber and Lyft for their billions in losses and uncertain path to profitability. Uber sold shares at the low end of its expected range last week and the stock is still trading well below its debut price.

Source: CNBC

When asked if he was trying to differentiate WeWork’s losses from the capital the ride-hailing companies spend on subsidies and discounts, Minson said, “that’s a fair differentiator.” Renting out work space is “a proven business model,” he said. Memberships climbed to 466,000 from 220,000 a year earlier. Still, WeWork’s model continues to rely on heavy funding from private investors, namely SoftBank, which has poured more than $10 billion into the company, including $2 billion this year at a $47 billion valuation. WeWork has to plunge cash into real estate in some of the most expensive markets and it makes money back over time as companies and individuals pay their rent, or membership. But the public markets like to see profits when they’re asked to pay such a high price. When Uber went public, it became only the fourth U.S. company with a market cap of at least $50 billion that lost money in the prior year. The other three were CVS, General Electric and Qualcomm (the chipmaker only had a loss because it took a one-time charge tied to a change in the tax code). Last year, WeWork lost $1.9 billion, surpassing Uber’s losses, on revenue of $1.8 billion. Its cash and cash commitments stood at $5.9 billion as of March 31, down from $6.6 billion at the end of December. WATCH: Uber’s flop raises questions about other ‘unicorns’ planning to go public


Company: cnbc, Activity: cnbc, Date: 2019-05-15  Authors: deirdre bosa
Keywords: news, cnbc, companies, public, investors, million, 264, uber, lost, investments, money, loss, company, cash, losses, billion, urges, firstquarter, reports, wework


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Trump tax returns from 1985-1994 reportedly show $1 billion in losses

Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years, the Times said. Over the 10 years, Trump’s core businesses, including casinos, hotels and apartment buildings, lost $1.17 billion, according to the newspaper. The White House did not immediately respond to a request for comment. On Monday, U.S. Treasury Secretary Steven Mnuchin refused a request by the Democratic chairman of the House of Representatives Ways and Means Committee for Trump’s tax retur


Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years, the Times said. Over the 10 years, Trump’s core businesses, including casinos, hotels and apartment buildings, lost $1.17 billion, according to the newspaper. The White House did not immediately respond to a request for comment. On Monday, U.S. Treasury Secretary Steven Mnuchin refused a request by the Democratic chairman of the House of Representatives Ways and Means Committee for Trump’s tax retur
Trump tax returns from 1985-1994 reportedly show $1 billion in losses Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-08
Keywords: news, cnbc, companies, white, times, returns, losses, trump, billion, trumps, businesses, president, 19851994, reportedly, lost, house, tax, taxes


Trump tax returns from 1985-1994 reportedly show $1 billion in losses

U.S. President Donald Trump arrives at an event to celebrate the anniversary of first lady Melania Trump’s “Be Best” initiative in the Rose Garden at the White House in Washington, U.S., May 7, 2019.

U.S. President Donald Trump’s businesses lost a total of more than $1 billion from 1985 to 1994, according to the New York Times, which said it obtained printouts from Trump’s official Internal Revenue Service tax transcripts.

The newspaper said Trump posted losses in excess of $250 million in both 1990 and 1991, which appeared to be more than double any other individual U.S. taxpayer in an annual IRS sampling of high-income earners.

Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years, the Times said.

Over the 10 years, Trump’s core businesses, including casinos, hotels and apartment buildings, lost $1.17 billion, according to the newspaper.

The White House did not immediately respond to a request for comment.

The Times quoted a lawyer for the president, Charles Harder, as saying the tax information was “highly inaccurate.”

Trump, a real estate magnate who turned over the running of his businesses to his sons after his election in 2016, touted his business acumen and negotiating skills on the campaign trail.

Trump broke with a decades-old precedent by refusing to release his tax returns as a presidential candidate in 2016 or since being elected, saying he could not do so while his taxes were being audited.

On Monday, U.S. Treasury Secretary Steven Mnuchin refused a request by the Democratic chairman of the House of Representatives Ways and Means Committee for Trump’s tax returns.

Democrats want Trump’s tax data as part of their investigations of possible conflicts of interest posed by his continued ownership of extensive business interests, even as he serves as president.


Company: cnbc, Activity: cnbc, Date: 2019-05-08
Keywords: news, cnbc, companies, white, times, returns, losses, trump, billion, trumps, businesses, president, 19851994, reportedly, lost, house, tax, taxes


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Tesla misses big on first-quarter earnings as demand fell for its electric cars

Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1. Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year. Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed. The company previously warned that first-quarter income wil


Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1. Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year. Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed. The company previously warned that first-quarter income wil
Tesla misses big on first-quarter earnings as demand fell for its electric cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lora kolodny, dawn kopecki, mike blake, james glover ii
Keywords: news, cnbc, companies, versus, fell, share, second, million, cars, reported, firstquarter, big, expected, tesla, loss, lost, quarter, electric, earnings, demand, misses


Tesla misses big on first-quarter earnings as demand fell for its electric cars

Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1.

Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year.

Here’s what Tesla reported, versus what analysts expected based on average estimates compiles by Refinitiv:

Loss per share on an adjusted basis: $2.90 versus 69 cents expected

Revenue: $4.54 billion versus $5.19 billion expected

On an unadjusted basis, Tesla lost $702.1 million, or $4.10 a share during the quarter ended March 31, compared with a loss of $709.6 million, or $4.19 a share during the same period last year.

Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed.

The company previously warned that first-quarter income will “be negatively impacted” because of “lower than expected delivery volumes and several pricing adjustments.” Tesla said earlier this month it delivered 63,000 cars during the quarter, well below analysts’ consensus estimates of 76,000.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lora kolodny, dawn kopecki, mike blake, james glover ii
Keywords: news, cnbc, companies, versus, fell, share, second, million, cars, reported, firstquarter, big, expected, tesla, loss, lost, quarter, electric, earnings, demand, misses


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Tesla misses big on first-quarter earnings as demand fell for its electric cars

Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1. Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year. Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed. The company previously warned that first-quarter income wil


Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1. Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year. Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed. The company previously warned that first-quarter income wil
Tesla misses big on first-quarter earnings as demand fell for its electric cars Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lora kolodny, dawn kopecki, mike blake, james glover ii
Keywords: news, cnbc, companies, second, shares, electric, tesla, fell, lost, million, demand, big, loss, cars, share, versus, reported, misses, quarter, earnings, firstquarter


Tesla misses big on first-quarter earnings as demand fell for its electric cars

Tesla reported a wider-than-expected loss and less revenue than anticipated during the first quarter as demand for its electric cars waned after the company lost a valuable tax credit for buyers on Jan. 1.

Executives braced investors for another loss in the second quarter before returning to profitability in the second half of the year.

Here’s what Tesla reported, versus what analysts expected based on average estimates compiles by Refinitiv:

Loss per share on an adjusted basis: $2.90 versus 69 cents expected

Revenue: $4.54 billion versus $5.19 billion expected

On an unadjusted basis, Tesla lost $702.1 million, or $4.10 a share during the quarter ended March 31, compared with a loss of $709.6 million, or $4.19 a share during the same period last year.

Its shares, which closed down by about 2 percent Wednesday, were about flat after the markets closed.

The company previously warned that first-quarter income will “be negatively impacted” because of “lower than expected delivery volumes and several pricing adjustments.” That may be one reason shares remained flat after the quarterly update– investors already anticipated some disappointments.

Tesla said earlier this month it delivered 63,000 cars during the quarter, well below analysts’ consensus estimates of 76,000.


Company: cnbc, Activity: cnbc, Date: 2019-04-24  Authors: lora kolodny, dawn kopecki, mike blake, james glover ii
Keywords: news, cnbc, companies, second, shares, electric, tesla, fell, lost, million, demand, big, loss, cars, share, versus, reported, misses, quarter, earnings, firstquarter


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Lost these tax breaks on your federal return? Your state might let you have them

Late filers: Don’t shred those receipts just yet. You might be able to nab a break on your state tax return. It’s the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act. This overhaul of the federal tax code roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), did away with personal exemptions and limited itemized deductions. As a result of these changes, about 30 million fewer households will itemize in 2018, compared


Late filers: Don’t shred those receipts just yet. You might be able to nab a break on your state tax return. It’s the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act. This overhaul of the federal tax code roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), did away with personal exemptions and limited itemized deductions. As a result of these changes, about 30 million fewer households will itemize in 2018, compared
Lost these tax breaks on your federal return? Your state might let you have them Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: darla mercado, guido mieth, digitalvision, getty images, martinprescott, peopleimages
Keywords: news, cnbc, companies, taxpayers, submitting, state, filers, shred, standard, tax, single, 2018, let, return, lost, taxation, federal, breaks


Lost these tax breaks on your federal return? Your state might let you have them

Late filers: Don’t shred those receipts just yet. You might be able to nab a break on your state tax return.

We are closing in on the final days of the 2018 filing season. It’s the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act.

This overhaul of the federal tax code roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), did away with personal exemptions and limited itemized deductions.

As a result of these changes, about 30 million fewer households will itemize in 2018, compared to 2017, according to the Joint Committee on Taxation.


Company: cnbc, Activity: cnbc, Date: 2019-04-12  Authors: darla mercado, guido mieth, digitalvision, getty images, martinprescott, peopleimages
Keywords: news, cnbc, companies, taxpayers, submitting, state, filers, shred, standard, tax, single, 2018, let, return, lost, taxation, federal, breaks


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