Five Things You Should Read

February 11, 2019

Take Warren Buffett's advice for narrowing down your reading list, and KPMG to shut down UK Small Business Accounting service.

Bankruptcy Judge Approves $5.2B Plan to Keep Sears Open

NBC News

A bankruptcy judge has blessed a $5.2 billion plan by Sears chairman and biggest shareholder to keep the iconic business going. The judge rejected the committee's claims that the sale process was unfair and flawed, that it shut out any other parties who could have been interested in buying the business and that Sears had more value to its creditors if it died than if it lived.

KPMG to Shut Down UK Small Business Accounting Service

pymnts.com

The closure is part of KPMG’s efforts to refocus on core operations in the U.K., and that its small business services in markets other than the U.K. will remain unaffected. The spokesperson did not note whether Brexit had any impact on the company’s decision to close the U.K. SBA operations.

A TCJA Surprise

CNBC

This spring marks the first time taxpayers are submitting returns under the Tax Cuts and Jobs Act (TCJA), which went into effect in last year.As part of the TCJA, the IRS and Treasury adjusted the tax withholding tables, which affects the amount of income taxes withheld from your pay. Some early filers are discovering that they either owe the IRS or they'll be getting a smaller-than-expected refund from the taxman.

What's Your Retirement Number?

Yahoo Finance

Grant Sabatier, author of “Financial Freedom: A Proven Guide to All the Money You’ll Ever Need,” defines retirement as the point when you have enough money that you don’t have to work for money. Calculate your annual expenses, divide by the recommended retirement withdrawal rate of 4% (.04), and you’ll have the dollar number that you need for retirement.

Focus on Information With a 'Long Half-Life,' Says Warren Buffett

Quartz

Writer Shane Parrish shares that Warren Buffett focuses on information “with a long half-life”—material with staying power, that is less likely to become obsolete in the foreseeable future. Rather than the latest trend or current event, this more valuable vein of knowledge is that on which other knowledge can be built.