Colts Notebook: Nelson's impact remains eliteFive facts about electric vehicles in 2024
The cost-of-living adjustment (COLA) for 2025 was just released by the Social Security Administration, and recipients can anticipate a 2.5% increase in their Social Security check starting next year, for the typical retiree, which would amount to about $50 per month. However, there will be other changes to Social Security as well. Numerous new income restrictions could impact you in some ways as the year progresses. While many of these modifications would raise your monthly payout, some will not be as advantageous, especially if you make a larger salary . Here’s what to expect in 2025. A new $5,108 Social Security check will be eligible for beneficiaries in 2025 The maximum taxable earnings limit is an income limit that directly affects your Social Security check amount. The closer your wages are to this maximum, which is the highest annual earnings subject to Social Security taxes, the larger your benefit will be. Keep in mind that the yearly limit is set at $168,600 in 2024, and will rise to $176,100 by 2025. Because the wage cap is designed to keep up with changes in the cost of living, it typically rises year after year. Beneficiaries should know that all people are impacted by these restrictions, but those with greater incomes may be more severely affected. You will pay taxes on a larger portion of your income each year if your earnings are at or over the limit. For people making between $168,600 and $176,100 annually, the 2025 rise may have the greatest effect because they will be subject to Social Security tax on income that was not previously subject to taxation in 2024. With the present payroll tax rate of 12.4% (which incorporates both employee and employer taxes), the extra $7,500 in income will result in a $930 annual tax increase. The good news that beneficiaries might be unaware of regarding higher income limits Even though paying more taxes might not be ideal, there is a bright side: you will eventually receive a bigger benefit and might even be eligible for the maximum monthly checks. In 2025, Social Security’s maximum monthly benefit will increase from $4,873 to an incredible $5,108. To be eligible for this payout, you must work for at least 35 years, wait until you are 70 years old to claim benefits, and continuously earn more than the maximum taxable earnings limit. Moreover, earning the maximum Social Security check is becoming increasingly challenging as the earnings threshold keeps increasing annually. However, if your income is sufficient to meet that income threshold, you have already overcome what may be the most difficult obstacle to receiving this benefit. What if your annual income is completely below $176,100? Although that will regrettably prevent you from receiving the full payout, there are still ways to raise the amount of your compensation. One strategy for increasing benefits is to delay claiming. You will earn a little greater compensation for each month you wait after age 62. Filing at your full retirement age (66 or 67, depending on your year of birth) will result in 100% of your Social Security check, but if you wait until age 70, you will earn at least a 24% bonus on top of the total amount you receive. In December 2023, the Social Security Administration stated that retirees get an average of $1,298 per month at age 62, increasing to $1,884 at age 67 and $2,038 at age 70. Delaying benefits can significantly raise the size of your checks, even if you can only do so for a year or two. Working longer than 35 years is another option for enhancing your payments. Calculating your Social Security check begins with averaging your earnings throughout the 35 years of your employment during which you made the most money. Since your average includes only your highest earning years, you’re probably making more money now than you did thirty-five years ago. You can get a larger benefit by replacing lower-earning years with additional years of higher-earning employment. If you’re a high earner, a higher 2025 maximum earnings cap might result in a greater tax burden, but it will also get you closer to a higher maximum Social Security check amount . Little actions can have a big impact on your monthly paycheck, even if you’re behind schedule for that payment.
AP Business SummaryBrief at 5:27 p.m. ESTINDIANAPOLIS – Death. Taxes. And Quenton Nelson. Star running back Jonathan Taylor suggested Thursday the Indianapolis Colts’ All-Pro left guard is one of life’s inevitabilities. A legion of NFL defenders likely would nod in resigned agreement. “Any time backs come in, I always tell them, ‘Listen, when in doubt, you know 5-6 (Nelson’s jersey number) will take you to the light,’” Taylor said. “But what he does is (a result of) preparation throughout the week, what he does in the offseason, his routine in season. He's a true professional, and it shows week in, week out and year after year. So I'm just thankful, and I'm glad that I'm on a team with him.” Nelson played a pivotal role in Sunday’s 38-30 victory against the Tennessee Titans, helping to usher the way for Taylor to gain 218 rushing yards and three rushing touchdowns. The Colts gained a single-season franchise record 335 total yards on the ground, and Nelson shook off a fourth-quarter ankle injury to return even while many on the sideline suggested he should rest with the game apparently in hand. Nelson again put together a highlight reel of dominant blocks, none more impressive than his effort on quarterback Anthony Richardson’s 5-yard touchdown run in the second quarter. After pulling from his position, Nelson quickly got to the second level in front of Richardson and drove his defender through the back of the end zone. The quarterback essentially jogged into the end zone behind Nelson, untouched and unbothered. "It makes it easier for me,” Richardson said. “I get to see 56 running around. I just get to follow up behind him and let him do his dirty work, and I just follow up and get the touchdown. I get all the credit, but, no, he does all the dirty work for us. So we appreciate that for sure." Nelson emphatically threw his arms up in celebration as Richardson crossed the goal line. That’s also in character for the hulking lineman. He’s almost always the first player to pick up a ball carrier after a run – no matter the distance from the line of scrimmage – and Richardson said Nelson often is happier than the player who scored each time Indianapolis finds the end zone. It’s a mentality Nelson said was installed by former Notre Dame offensive line coach Harry Hiestand, and his joy is the product of a total team effort. “There’s 11 guys doing their job for the common goal of scoring a touchdown and trying to win the game,” Nelson said. “Seeing it come to fruition after all the hard work we put in during the week is awesome.” Guard is far from a glamour position, and it’s not among the most highly valued roles in the NFL. Very few players at the position become stars. But Nelson is on another level. When he was drafted with the sixth overall pick in 2018 after a sterling career for the Fighting Irish, Colts owner Jim Irsay immediately made Hall of Fame comparisons. Nelson has lived up to the high expectations with three first-team All-Pro nods and six Pro Bowl appearances in his first six seasons. He’s one of the most recognizable names on Indianapolis’ roster and a fan favorite. But, despite outside appearances, Nelson’s success was not inevitable. His unmatched drive and work ethic have allowed him to reach the game’s elite levels. “I think his competitive nature that he brings every single day, his toughness, his attitude, his love for the game, and he plays that way,” Colts head coach Shane Steichen said of what sets Nelson apart. “I mean, he shows up for his guys every single day and does it the right way and plays for the guy next to him every single time. “He's got that relentless determination that you want up front. Just a hell of a leader for us. And obviously, when we need a big play, too, a lot of the times he's our lead blocker in those situations.” Tight end Mo Alie-Cox (toe), Richardson (back, foot) and linebacker E.J. Speed (knee) did not practice Thursday. Indianapolis reportedly is optimistic Richardson will be able to play Sunday against the New York Giants. Linebacker Jaylon Carlies (shoulder) and Nelson (ankle) were limited. Cornerback JuJu Brents (knee), cornerback Jaylon Jones (throat), wide receiver Alec Pierce (concussion) and wide receiver Michael Pittman Jr. (back) were full participants. Safety Raheem Lane (knee), linebacker Micah McFadden (neck), wide receiver Malik Nabers (toe), center John Michael Schmitz (ankle), cornerback Greg Stroman (shoulder, shin), running back Tyrone Tracy (ankle) and wide receiver Dee Williams (toe) did not practice for the Giants. Defensive tackle Cory Durden (shoulder), offensive tackle Jermaine Eluemunor (wrist), quarterback Drew Lock (right shoulder) and offensive guard Greg Van Roten (knee) were limited.The Atlanta Hawks were fined $100,000 by the NBA on Tuesday after a league investigation into star guard Trae Young missing an NBA Cup game two weeks ago. The NBA found the Hawks violated the league's Player Participation Policy when the 26-year-old American missed a November 12 contest at Boston. The probe, which included a review by an independent physician, determined the Hawks held Young out of a game, in which he could have played, under the medical standard clause of the policy, which is aimed at having top NBA talent play in regular-season contests. The Hawks, who beat Boston 117-116, said Young was unavailable due to tendinitis in his right Achilles tendon. Three-time NBA All-Star Young, who has not missed another game this season, has averaged 21.9 points, 3.6 rebounds and an NBA-best 11.9 assists so far this season. At 7-11, the Hawks are 11th in the Eastern Conference. The NBA also fined Sacramento Kings head coach Mike Brown $35,000 for aggressively pursuing a referee during his team's 108-103 home loss to Brooklyn on Sunday. The Kings are 8-10, 12th in the Western Conference after dropping four games in a row. js/bsp
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SAN FRANCISCO , Nov. 26, 2024 /PRNewswire/ -- Autodesk, Inc. (NASDAQ: ADSK) today announced the appointment of Janesh Moorjani as the company's chief financial officer, effective December 16, 2024 . Moorjani brings over 20 years of experience in the technology industry, with deep expertise in driving growth and efficiency at scale. Most recently, Moorjani served as CFO and COO of Elastic NV (NYSE: ESTC), the Search AI Company. Reporting to chief executive officer Andrew Anagnost , Moorjani will lead and oversee Autodesk's global finance organization. Moorjani will succeed interim chief financial officer Elizabeth "Betsy" Rafael, who will serve as an advisor to the company through the end of fiscal 2025 and will continue to serve on Autodesk's Board of Directors, resuming her status as an independent director following the transition period and end of her employment by the company. "We are excited to welcome such a high-caliber and seasoned CFO in Janesh," said Andrew Anagnost , president and CEO of Autodesk. "His deep finance and software experience will be instrumental in supporting Autodesk's continued momentum with sustained growth and enhanced profitability. I look forward to partnering with Janesh to drive Autodesk's successful path forward and continue creating additional value for our stockholders. I also thank Betsy for stepping into the interim CFO role at an important time for Autodesk, and for her continued contributions both through the transition and as a qualified and experienced board member moving forward." Moorjani brings strong experience leading dynamic public software companies. He recently was CFO of Elastic since 2017 and assumed the additional responsibilities of COO in 2022. Prior to Elastic, he served in executive and leadership roles at Infoblox, VMware, Cisco, PTC, and Goldman Sachs. He currently serves on the Board of Directors of Cohesity, a leading AI-powered data security and data management company. "I am thrilled to join Autodesk and work with Andrew, the company's strong management team and the Board to capitalize on the compelling growth opportunities we have ahead," said Moorjani. "Autodesk has established a clear leadership position as a technology innovator by providing differentiated and connected solutions that allow customers across industries to design and make anything. I look forward to working with the team to build on Autodesk's strong financial foundation to drive continued growth, profitability and free cash flow to ultimately deliver sustainable stockholder value." ABOUT AUTODESK The world's designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk's Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document. SAFE HARBOR STATEMENT This press release contains forward-looking statements that involve risks and uncertainties, including quotations from management, statements regarding our strategies, performance, results, growth, profitability and free cash flow, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers' offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors. Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk's Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. View original content to download multimedia: https://www.prnewswire.com/news-releases/autodesk-appoints-janesh-moorjani-as-chief-financial-officer-302316577.html SOURCE Autodesk, Inc.Trump's 25% tariff would be devastating for Canada — but it would be devastating for the U.S. too, economists say