UK banks may have been used for Iran payments related to Huawei: WSJ

British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal reported on Sunday, citing sources familiar with the matter. According to the Journal, Huawei allegedly used a third-party intermediary — a small Hong Kong-based technology firm called Skycom — to channel payments between the company and Iran. The Journal reported that a spokesman for Huawei declined to


British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal reported on Sunday, citing sources familiar with the matter. According to the Journal, Huawei allegedly used a third-party intermediary — a small Hong Kong-based technology firm called Skycom — to channel payments between the company and Iran. The Journal reported that a spokesman for Huawei declined to
UK banks may have been used for Iran payments related to Huawei: WSJ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kate fazzini, jane wolsak, fred dufour, afp, getty images
Keywords: news, cnbc, companies, technology, used, standard, iran, huawei, violations, meng, wsj, hsbc, journal, chartered, declined, uk, travel, payments, banks, related


UK banks may have been used for Iran payments related to Huawei: WSJ

British banks Standard Chartered and HSBC were reportedly among financial institutions misled by Chinese technology giant Huawei into funneling illicit payments from Iran, The Wall Street Journal reported on Sunday, citing sources familiar with the matter.

According to the Journal, Huawei allegedly used a third-party intermediary — a small Hong Kong-based technology firm called Skycom — to channel payments between the company and Iran. The Journal reported that a spokesman for Huawei declined to comment.

Huawei’s chief financial officer Meng Wanzhou was arrested during a layover in Vancouver, Canada on Dec. 1 at the request of U.S. authorities. Beijing has threatened unspecified “severe consequences” if Canadian courts don’t release Meng, the daughter of Huawei founder Ren Zhengfei. Meng returns to court for a bail hearing Monday.

Both HSBC and Standard Chartered are based in the U.K., and both have been under scrutiny from global regulators for past money-laundering violations. The two banks also have had federal monitors in place to watch for the types of transactions described in the Huawei filings — but neither bank has been accused of any wrongdoing as part of this case.

Responding to CNBC, Standard Chartered declined to comment but clarified that the bank was not a target of investigations related to Huawei. HSBC also declined to comment on the WSJ story.

“The US Department of Justice has confirmed that HSBC is not under investigation in this case,” said Stuart Levey, Chief Legal Officer at HSBC in a response to an email from CNBC.

Huawei has also been under U.S. government scrutiny since 2012 for a wide range of purported issues, such as alleged government-supported cyber espionage, intellectual property theft and violations of sanctions, including those related to Iran.

According to the court case outlined on Friday, Huawei executives allegedly knew of an investigation into sanctions violations as early as 2017, and had been “altering their travel patterns to avoid any travel to or through the United States.” Meng’s attorney has countered that trade-war tensions were responsible for the travel changes.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kate fazzini, jane wolsak, fred dufour, afp, getty images
Keywords: news, cnbc, companies, technology, used, standard, iran, huawei, violations, meng, wsj, hsbc, journal, chartered, declined, uk, travel, payments, banks, related


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How to clear up any confusion about the new tax-law changes

Numerous questions are whirling because of the changes in the Tax Cuts and Jobs Act. Plenty of those queries involve misconceptions about applying the new tax rules and finding tax savings opportunities. Certified financial planner Barry Glassman, founder and president of Glassman Wealth Services, and Tom Stringfellow, CFP and president of Frost Investment Advisors, offered their expertise on the confusion surrounding the tax issues. “Most of our conversations [with clients] revolve around itemi


Numerous questions are whirling because of the changes in the Tax Cuts and Jobs Act. Plenty of those queries involve misconceptions about applying the new tax rules and finding tax savings opportunities. Certified financial planner Barry Glassman, founder and president of Glassman Wealth Services, and Tom Stringfellow, CFP and president of Frost Investment Advisors, offered their expertise on the confusion surrounding the tax issues. “Most of our conversations [with clients] revolve around itemi
How to clear up any confusion about the new tax-law changes Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: cnbccom staff, martinprescott, getty images
Keywords: news, cnbc, companies, theyre, glassman, president, going, taxlaw, face, taxpayers, using, changes, tax, deductions, confusion, clear, standard


How to clear up any confusion about the new tax-law changes

Numerous questions are whirling because of the changes in the Tax Cuts and Jobs Act. Plenty of those queries involve misconceptions about applying the new tax rules and finding tax savings opportunities.

Certified financial planner Barry Glassman, founder and president of Glassman Wealth Services, and Tom Stringfellow, CFP and president of Frost Investment Advisors, offered their expertise on the confusion surrounding the tax issues.

“Most of our conversations [with clients] revolve around itemizing versus standard deductions,” Glassman said. “Taxpayers understand that they have to pay taxes; what they don’t want are surprises, and a lot of people are going to be really surprised that they’re using the standard deduction and they’re not going to get credit for their charitable deductions or any medical expenses.”

More from Personal Finance:

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Glassman is urging his clients to take the necessary time to do some year-end tax planning to figure out if their itemized deductions will be enough to exceed what they get via a standard deduction.

He suggests using a tax software program to get a handle on the impact. “It will show you what this year’s tax will look like, based on last year’s information,” Glassman said.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: cnbccom staff, martinprescott, getty images
Keywords: news, cnbc, companies, theyre, glassman, president, going, taxlaw, face, taxpayers, using, changes, tax, deductions, confusion, clear, standard


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6 last-minute tips that will trim your 2018 tax bill

If you’re hoping to trim your tax bill and ramp up your savings for 2018, you have about three weeks to call your accountant and get your act together. It has been a busy year for taxpayers and accountants, as the end of 2018 signals the first year under the Tax Cuts and Jobs Act. In all, the tax overhaul roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), eliminated personal exemptions and limited itemized deductions. Despite the changes to


If you’re hoping to trim your tax bill and ramp up your savings for 2018, you have about three weeks to call your accountant and get your act together. It has been a busy year for taxpayers and accountants, as the end of 2018 signals the first year under the Tax Cuts and Jobs Act. In all, the tax overhaul roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), eliminated personal exemptions and limited itemized deductions. Despite the changes to
6 last-minute tips that will trim your 2018 tax bill Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: darla mercado, john ewing, portland press herald, getty images, jamie grill, whl, oliver rossi, the image bank, blend images – terry vine, brand x pictures
Keywords: news, cnbc, companies, taxpayers, youre, bill, tips, weeks, standard, trim, lastminute, 2018, togetherit, single, tax, signals


6 last-minute tips that will trim your 2018 tax bill

If you’re hoping to trim your tax bill and ramp up your savings for 2018, you have about three weeks to call your accountant and get your act together.

It has been a busy year for taxpayers and accountants, as the end of 2018 signals the first year under the Tax Cuts and Jobs Act.

In all, the tax overhaul roughly doubled the standard deduction to $12,000 for single filers ($24,000 for married-filing-jointly), eliminated personal exemptions and limited itemized deductions.

Despite the changes to the tax law, there are still opportunities to shore up your 2018 finances. Here’s what to consider.


Company: cnbc, Activity: cnbc, Date: 2018-12-05  Authors: darla mercado, john ewing, portland press herald, getty images, jamie grill, whl, oliver rossi, the image bank, blend images – terry vine, brand x pictures
Keywords: news, cnbc, companies, taxpayers, youre, bill, tips, weeks, standard, trim, lastminute, 2018, togetherit, single, tax, signals


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Saudi Aramco plans gas investments of $150 billion over next decade: CEO

Saudi Aramco said on Tuesday its gas program would attract $150 billion worth of investments over the next decade with production growing to 23 billion standard cubic feet a day from the current 14 billion. “We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources … currently we have 16 drilling rigs concentrating on unconventional gas and more than 70 wells completed this year,” CEO Amin Nasser said at a conference in Dubai. Nasser


Saudi Aramco said on Tuesday its gas program would attract $150 billion worth of investments over the next decade with production growing to 23 billion standard cubic feet a day from the current 14 billion. “We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources … currently we have 16 drilling rigs concentrating on unconventional gas and more than 70 wells completed this year,” CEO Amin Nasser said at a conference in Dubai. Nasser
Saudi Aramco plans gas investments of $150 billion over next decade: CEO Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: ahmed jadallah
Keywords: news, cnbc, companies, supplementing, unconventional, worldclass, saudi, plans, 150, worth, standard, decade, ceo, aramco, billion, gas, wells, resources, investments


Saudi Aramco plans gas investments of $150 billion over next decade: CEO

Saudi Aramco said on Tuesday its gas program would attract $150 billion worth of investments over the next decade with production growing to 23 billion standard cubic feet a day from the current 14 billion.

“We also have world-class unconventional gas resources that are rapidly supplementing our large conventional resources … currently we have 16 drilling rigs concentrating on unconventional gas and more than 70 wells completed this year,” CEO Amin Nasser said at a conference in Dubai.

Nasser also said Aramco plans to invest $100 billion over the next 10 years in chemicals globally, in addition to potential acquisitions.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: ahmed jadallah
Keywords: news, cnbc, companies, supplementing, unconventional, worldclass, saudi, plans, 150, worth, standard, decade, ceo, aramco, billion, gas, wells, resources, investments


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How to make the most of Giving Tuesday

Reaping the tax benefits is a nice perk. Charitable donations generally kick into high gear on “Giving Tuesday,” a single day specifically focused on charity in the shopping-heavy week after Thanksgiving. The new tax laws, among other things, eliminate or sharply reduce the benefits of charitable giving for many would-be donors. Married couples would need deductions exceeding $24,000, up from $12,700. As a result, fewer people will itemize this year, which means many won’t reap the tax benefits


Reaping the tax benefits is a nice perk. Charitable donations generally kick into high gear on “Giving Tuesday,” a single day specifically focused on charity in the shopping-heavy week after Thanksgiving. The new tax laws, among other things, eliminate or sharply reduce the benefits of charitable giving for many would-be donors. Married couples would need deductions exceeding $24,000, up from $12,700. As a result, fewer people will itemize this year, which means many won’t reap the tax benefits
How to make the most of Giving Tuesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: jessica dickler, -bryan havighurst, wealth planning team leader at fifth third private
Keywords: news, cnbc, companies, tax, benefits, charitable, need, donations, standard, individual, giving, itemize, deductions


How to make the most of Giving Tuesday

Doing good is its own reward. Reaping the tax benefits is a nice perk.

Charitable donations generally kick into high gear on “Giving Tuesday,” a single day specifically focused on charity in the shopping-heavy week after Thanksgiving.

#GivingTuesday raised $300 million last year, according to GivingTuesday.org – although it remains to be seen whether this year will surpass that, in light of changes to the federal tax code under the Tax Cuts and Jobs Act passed last December.

The new tax laws, among other things, eliminate or sharply reduce the benefits of charitable giving for many would-be donors.

Even though the deduction for donations is unchanged, you still need to itemize to claim it, and that’s a much higher bar with the nearly doubled standard deduction.

Under the new law, an individual will need total itemized deductions to exceed $12,000, the new standard deduction for individual taxpayers, up from $6,350. Married couples would need deductions exceeding $24,000, up from $12,700.

As a result, fewer people will itemize this year, which means many won’t reap the tax benefits of their charitable contributions. That could put a damper on some people’s charitable inclinations this holiday season.

“There are certain people who don’t always care about the tax benefit; they’re going to give anyway,” said Bryan Havighurst, head of the wealth planning team at Fifth Third Private Bank. But there are also those that “will give more if there’s a tax benefit,” he added.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: jessica dickler, -bryan havighurst, wealth planning team leader at fifth third private
Keywords: news, cnbc, companies, tax, benefits, charitable, need, donations, standard, individual, giving, itemize, deductions


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US-China trade war could go on until 2020 presidential elections

Trade tensions between the U.S. and China could go into “a temporary hiatus” in the coming months, but would remain unresolved until the presidential elections in 2020, according to Standard Chartered Private Bank. That’s because Washington’s decision to resolve tensions with Beijing will likely be driven by politics, said Steve Brice, chief investment strategist at Standard Chartered Private Bank. U.S. President Donald Trump will be seeking a second term in the White House during the 2020 presi


Trade tensions between the U.S. and China could go into “a temporary hiatus” in the coming months, but would remain unresolved until the presidential elections in 2020, according to Standard Chartered Private Bank. That’s because Washington’s decision to resolve tensions with Beijing will likely be driven by politics, said Steve Brice, chief investment strategist at Standard Chartered Private Bank. U.S. President Donald Trump will be seeking a second term in the White House during the 2020 presi
US-China trade war could go on until 2020 presidential elections Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: yen nee lee
Keywords: news, cnbc, companies, war, uschina, presidential, elections, trump, tailwind, trade, reelection, 2020, standard, temporary, tensions, brice


US-China trade war could go on until 2020 presidential elections

Trade tensions between the U.S. and China could go into “a temporary hiatus” in the coming months, but would remain unresolved until the presidential elections in 2020, according to Standard Chartered Private Bank.

That’s because Washington’s decision to resolve tensions with Beijing will likely be driven by politics, said Steve Brice, chief investment strategist at Standard Chartered Private Bank. U.S. President Donald Trump will be seeking a second term in the White House during the 2020 presidential elections.

“I think it’s going to be a political decision: Does it actually bode well for the U.S. having solved, in Trump terminology, the China trade issue today? One could argue that actually, he’d be better doing that six months before the elections so he’s got the tailwind going into his re-election bid,” Brice told CNBC’s “Street Signs” on Thursday.

A tailwind refers to a situation that will push economic growth and company earnings higher.

Two recent polls in the U.S. found that Americans like the president’s handling of the economy, but that has failed to boost his overall approval rating. Those trends signal possible trouble for Trump’s re-election bid if the economy loses steam.

Trump and Chinese President Xi Jinping are expected to discuss trade at the G-20 summit in Argentina next week, but many experts have said they don’t see any major progress from that meeting.

“You might see a temporary hiatus … but then when you get closer to the presidential elections, then this flares back up and then we’ll see tensions rising again,” said Brice.


Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: yen nee lee
Keywords: news, cnbc, companies, war, uschina, presidential, elections, trump, tailwind, trade, reelection, 2020, standard, temporary, tensions, brice


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Here are six tax deductions you’ll lose on your 2018 return

If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That’s because the Tax Cuts and Jobs Act placed steep limits on itemized deductions, including lesser-known breaks for the fees you pay your tax preparer and unreimbursed employee business expenses. The new tax law also eliminated personal exemptions and nearly doubled the standard deduction to about $12,000 for singles and $24,000 for married joint filers — which will


If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed. That’s because the Tax Cuts and Jobs Act placed steep limits on itemized deductions, including lesser-known breaks for the fees you pay your tax preparer and unreimbursed employee business expenses. The new tax law also eliminated personal exemptions and nearly doubled the standard deduction to about $12,000 for singles and $24,000 for married joint filers — which will
Here are six tax deductions you’ll lose on your 2018 return Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: darla mercado, thomas fricke, getty images, jose a teijeiro, roberto machado noa, photo bsip uig via getty images, andersen ross, jacoblund, camille tokerud
Keywords: news, cnbc, companies, return, lose, 2018, tax, deductions, weston, standard, deduction, unreimbursed, youll, taxes, cpa, itemized


Here are six tax deductions you'll lose on your 2018 return

If you were hoarding receipts in a shoebox with the hope of claiming a big break on your 2018 taxes, prepare to be disappointed.

That’s because the Tax Cuts and Jobs Act placed steep limits on itemized deductions, including lesser-known breaks for the fees you pay your tax preparer and unreimbursed employee business expenses.

The new tax law also eliminated personal exemptions and nearly doubled the standard deduction to about $12,000 for singles and $24,000 for married joint filers — which will likely result in fewer people taking itemized deductions on their 2018 returns.

“The standard deduction is so high,” said Cari Weston, CPA and director of tax practice and ethics at the CPA institute. “You might not itemize in the future if you were itemizing before.”

Here are six itemized deductions that are capped or gone altogether from your 2018 return.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: darla mercado, thomas fricke, getty images, jose a teijeiro, roberto machado noa, photo bsip uig via getty images, andersen ross, jacoblund, camille tokerud
Keywords: news, cnbc, companies, return, lose, 2018, tax, deductions, weston, standard, deduction, unreimbursed, youll, taxes, cpa, itemized


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Find out if you’re eligible for this tax-savings strategy in 2018

If you want to slash your 2018 tax bill, consider giving away some of your wealth. This year marks the first under an overhaul of the tax code — and of traditional charitable giving. The Tax Cuts and Jobs Act roughly doubled the standard deduction to $12,000 for singles and $24,000 for married couples who file jointly. These developments mean that fewer people are expected to itemize on their 2018 taxes. Enter a strategy for filers who are just short of the new standard deduction: “Bunching” or


If you want to slash your 2018 tax bill, consider giving away some of your wealth. This year marks the first under an overhaul of the tax code — and of traditional charitable giving. The Tax Cuts and Jobs Act roughly doubled the standard deduction to $12,000 for singles and $24,000 for married couples who file jointly. These developments mean that fewer people are expected to itemize on their 2018 taxes. Enter a strategy for filers who are just short of the new standard deduction: “Bunching” or
Find out if you’re eligible for this tax-savings strategy in 2018 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: darla mercado, blend images, kidstock, getty images, douglas p sacha, tomoji hirakata, -tim steffen, cpa, director of advanced planning at robert w baird
Keywords: news, cnbc, companies, strategy, deduction, charitable, 2018, traditional, youre, code, wealththis, away, tax, itemize, eligible, taxsavings, standard


Find out if you're eligible for this tax-savings strategy in 2018

If you want to slash your 2018 tax bill, consider giving away some of your wealth.

This year marks the first under an overhaul of the tax code — and of traditional charitable giving.

The Tax Cuts and Jobs Act roughly doubled the standard deduction to $12,000 for singles and $24,000 for married couples who file jointly.

The new code also did away with personal exemptions and placed limits on certain itemized deductions, including a $10,000 cap on state and local tax deductions.

These developments mean that fewer people are expected to itemize on their 2018 taxes.

Enter a strategy for filers who are just short of the new standard deduction: “Bunching” or lumping multiple years of charitable gifts so that you can beat the hurdle and itemize on your tax return.


Company: cnbc, Activity: cnbc, Date: 2018-11-19  Authors: darla mercado, blend images, kidstock, getty images, douglas p sacha, tomoji hirakata, -tim steffen, cpa, director of advanced planning at robert w baird
Keywords: news, cnbc, companies, strategy, deduction, charitable, 2018, traditional, youre, code, wealththis, away, tax, itemize, eligible, taxsavings, standard


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Here are your new income tax brackets for 2019

Prepare your calculators. The Internal Revenue Service has updated its tax brackets for 2019. This year marks the first under the new Tax Cuts and Jobs Act, an overhaul of the tax code that resulted in lower individual income tax rates, a doubled standard deduction and the elimination of personal exemptions. For the new year, the IRS has bumped up the individual income tax brackets, adjusting them for inflation. See below for your new bracket:


Prepare your calculators. The Internal Revenue Service has updated its tax brackets for 2019. This year marks the first under the new Tax Cuts and Jobs Act, an overhaul of the tax code that resulted in lower individual income tax rates, a doubled standard deduction and the elimination of personal exemptions. For the new year, the IRS has bumped up the individual income tax brackets, adjusting them for inflation. See below for your new bracket:
Here are your new income tax brackets for 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: darla mercado, getty images, adam jeffery, molly riley, getty images sport
Keywords: news, cnbc, companies, income, brackets, standard, service, individual, updated, revenue, resulted, rates, tax, 2019


Here are your new income tax brackets for 2019

Prepare your calculators. The Internal Revenue Service has updated its tax brackets for 2019.

This year marks the first under the new Tax Cuts and Jobs Act, an overhaul of the tax code that resulted in lower individual income tax rates, a doubled standard deduction and the elimination of personal exemptions.

For the new year, the IRS has bumped up the individual income tax brackets, adjusting them for inflation.

See below for your new bracket:


Company: cnbc, Activity: cnbc, Date: 2018-11-16  Authors: darla mercado, getty images, adam jeffery, molly riley, getty images sport
Keywords: news, cnbc, companies, income, brackets, standard, service, individual, updated, revenue, resulted, rates, tax, 2019


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Amazon will pay HQ2 employees $150,000—that’s a lot more in Nashville

Amazon announced on Tuesday that it is splitting its new headquarters, “HQ2,” between New York City and northern Virginia. The retail giant also announced a smaller, third investment in Nashville, Tennessee, where it will build an east coast operations hub and create 5,000 jobs. In all three locations, the average salary for new employees will exceed $150,000 per year, Amazon announced. That six-figure salary looks very different in Nashville, though, where $150,000 will stretch much further tha


Amazon announced on Tuesday that it is splitting its new headquarters, “HQ2,” between New York City and northern Virginia. The retail giant also announced a smaller, third investment in Nashville, Tennessee, where it will build an east coast operations hub and create 5,000 jobs. In all three locations, the average salary for new employees will exceed $150,000 per year, Amazon announced. That six-figure salary looks very different in Nashville, though, where $150,000 will stretch much further tha
Amazon will pay HQ2 employees $150,000—that’s a lot more in Nashville Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kathleen elkins, don emmert, afp, getty images
Keywords: news, cnbc, companies, announced, york, living, 150000, tennessee, cost, standard, hq2, nashville, lot, 150000thats, queens, pay, employees, amazon, city


Amazon will pay HQ2 employees $150,000—that's a lot more in Nashville

Amazon announced on Tuesday that it is splitting its new headquarters, “HQ2,” between New York City and northern Virginia. Specifically, the company chose the Long Island City neighborhood in Queens and the National Landing neighborhood of Arlington, and it expects to bring 25,000 new jobs to each location.

The retail giant also announced a smaller, third investment in Nashville, Tennessee, where it will build an east coast operations hub and create 5,000 jobs.

In all three locations, the average salary for new employees will exceed $150,000 per year, Amazon announced. That six-figure salary looks very different in Nashville, though, where $150,000 will stretch much further than in New York City or Arlington.

According to NerdWallet’s cost of living calculator, which factors in expenses like housing, transportation, food, entertainment and health care, the cost of living is 53 percent higher in Queens than it is in Nashville. That means, for employees to maintain the same standard of living in Queens, they’d have to earn significantly more: $230,030.

If you choose to live in New York City’s priciest borough, Manhattan, where the cost of living is 142 percent higher than in Nashville, you’d have to earn $363,262 to maintain the same standard of living you could get for $150,000 in Tennessee.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: kathleen elkins, don emmert, afp, getty images
Keywords: news, cnbc, companies, announced, york, living, 150000, tennessee, cost, standard, hq2, nashville, lot, 150000thats, queens, pay, employees, amazon, city


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