Login | July 30, 2026
Portage County Legal News.
Business
Major taxpayer win: penalty abatement
Have you ever filed a tax return late, perhaps through no fault of your own?
Being late can trigger the "failure to file penalty," which is generally 5% of the tax due for each month or partial month a return is late, with the penalty accruing up to a maximum of 25% (tinyurl.com/yuandt75).
It turns out that the I ... (full story)
Earnings at Musk's car company fall as research spending cuts into profit from selling cars
Earnings at Musk's car company fall as research spending cuts into profit from selling cars " class="img_border right margin_left"/>
Tesla said July 22 that its profits fell last quarter as the car company run by Elon Musk shoveled more money into research and development, cutting into profits from a sharp increase in vehicle sales.
The Austin, Texas, company reported second-quarter net income of $1.11 billion, or 32 cents per share. Excluding certain items, ... (full story)
Mideast oil producers step up plans to bypass the Strait of Hormuz
Mideast oil producers step up plans to bypass the Strait of Hormuz " class="img_border right margin_left"/>
Before the war in Iran, roughly 15 million barrels of Persian Gulf oil were shipped each day through the Strait of Hormuz. Within a few years, much of that oil could bypass the strait.
As Iran’s chokehold over the strait drags on and oil prices surge, countries across the Gulf are planning to spend billions of dollars to b ... (full story)
Appeals court rejects Biden's bid to block release of recordings of ghostwriter interviews
WASHINGTON (AP) — A federal appeals court has rejected a request by Joe Biden to block the release of audio recordings and transcripts of his interviews with a memoir ghostwriter before he was elected president.
A divided three-judge panel from the U.S. Court of Appeals for the District of Columbia Circuit suspended its de ... (full story)
Valuation Shortcuts
Q. Are there any quick and easy ways to figure out if a company is over- or undervalued? -- P.M., Hickory, North Carolina
A. Even if you undertake many calculations, it's hard, if not impossible, to determine for sure what a stock is really worth -- and, therefore, whether it's over- or undervalued. Even smart stock analysts wil ... (full story)