TikTok Ban Takes Effect and App Goes Dark in the U.S.

Entrepreneur contributors stress the importance of strategic tax planning for gaining a competitive edge in the new year. They outline four key steps to guide entrepreneurs through the process: assessing current tax standing, identifying quick wins to reduce taxes, planning for long-term growth and tax benefits, and preparing for potential changes in tax laws. By taking proactive steps now, entrepreneurs can set themselves up for financial success in 2025 and beyond. Full Article

During the Los Angeles County wildfires, lead and chlorine levels spiked to 100 and 40 times average levels, respectively, even miles from the flames, posing a significant health risk. Researchers warn of added danger from burning structures releasing toxins like lead from paint and pipes, and chlorine from plastic. As wildfires become more frequent in populated areas due to climate change, concerns over toxic releases and health impacts are expected to increase, with lead and...

TikTok avoided a shutdown as President-elect Trump delayed a ban, leaving its fate uncertain in the US, while Americans turned to Xiaohongshu, a Chinese social media app, which gained popularity with features like Mandarin-English translation and 32.6 million posts under the hashtag "tiktok refugee." Xiaohongshu, backed by Alibaba and Tencent, boasts short videos and text posts, attracting users with diverse content and a proprietary algorithm, as it continues to expand globally and provide job opportunities...

TikTok is restoring access to its video app after President-elect Donald Trump provided clarity that companies distributing and hosting the platform would not face penalties for violating a US ban. The company, owned by ByteDance, is working on a long-term solution to keep TikTok in the US. Apple and Google app stores still do not have TikTok available for download. Trump plans to issue an executive order to extend the deadline for the ban, with...

Record numbers of homeowners are making a new year's resolution to sell their properties, with Rightmove's House Price Index for January showing a 1.7% monthly increase in average asking prices, the largest since 2020. Buyers are rushing to beat rising house prices before stamp duty thresholds decrease in April, prompting a surge in new sellers and increased buyer demand, although uncertainties about interest rates and tax changes loom ahead. Full Article

The federal government workforce has expanded under the Biden administration but remains near record low levels as a share of overall employment, growing by 4.4 percent in the past four years to just over three million. Efforts to trim the bureaucracy could lead to significant cuts, with agencies like the State Department and U.S. Citizenship and Immigration Services rebounding from previous declines in staffing levels. Despite hiring increases in certain areas, challenges remain in attracting...