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Wall Street's latest trade war freakout didn't last long.Stocked plummeted early Wednesday after trade tensions escalated between China and the United States. China announced plans for a 25% tariff on billion a year worth of American exports, including plans, cars, soybeans and chemicals.The Dow opened down more than 500 points. But the market erased those losses by early afternoon. 397

WASHINGTON (AP) — Democratic presidential nominee Joe Biden is assembling a team of top lawyers in anticipation of court challenges to the election process that could ultimately determine who wins the race for the White House. The legal war room will work to ensure that elections are properly administered and votes correctly counted. It will also combat voter suppression at the polls, identify foreign interference and misinformation, and educate voters on the methods available for casting ballots. The effort reflects the extent of the preparation underway for an already divisive presidential contest in November that could produce significant court cases over voter access and the legitimacy of mail ballots. 723

WASHINGTON (AP) — Defense Secretary Mark Esper on Sunday fired the Navy’s top official over his handling of a disciplinary case involving a Navy SEAL.Esper asked for the resignation of Navy Secretary Richard Spencer and Spencer submitted it Sunday, said the chief spokesman for the Pentagon, Jonathan Hoffman.The firing was a dramatic turn in a long-running controversy involving Navy Chief Petty Officer Edward Gallagher, whose case has been championed by President Donald Trump.Esper also directed that Gallagher be allowed to retire at the end of this month, and that a Navy disciplinary board that was scheduled to hear his case starting Dec. 2 be cancelled, Hoffman said. At Esper’s direction, Gallagher will be allowed to retire as a SEAL at his current rank, Hoffman said.Hoffman said Esper lost trust and confidence in Spencer “regarding his lack of candor” over conversations with the White House involving the handling of the SEAL case.“I am deeply troubled by this conduct shown by a senior DOD official," Esper said in a written statement issued by Hoffman. "Unfortunately, as a result I have determined that Secretary Spencer no longer has my confidence to continue in his position. I wish Richard well." 1225

VISTA, Calif. (KGTV) -- Deputies are searching for a suspect they say stabbed someone in Vista early Sunday morning before fleeing the scene.According to deputies, the stabbing happened just after midnight on Flower Lane, a street located inside a condominium complex about half a mile north of State Route 78.The suspect was identified as Christena Potter and remained at large as of Sunday afternoon. The victim was survived and was taken to the hospital, according to the San Diego County Sheriff’s Department.Deputies didn’t specify whether or not Potter had a relationship with the victim. Deputies warned nearby law enforcement agencies to be on the lookout for the suspect. 688

VIRGINIA BEACH, Va. -- If you are working from home, you may have bought some new items to accommodate the situation, or you are probably using more of the resources you already pay for.If you were planning on writing off these new expenses on your next tax return, "Unfortunately, there are no tax benefits to working from home if you are an employee,” Scott Rinehart, a tax professional and financial advisor with Carlson Financial, said.While tax season is months away, Rinehart said he has already received some questions from people."I've had people ask, 'since I work from home, can I deduct my office now?'” he explained.Say, for example, if you bought a laptop and it cost a couple hundred dollars, the rent on your apartment or certain utilities like electricity -- just to name a few examples -- you cannot write those off on your taxes.“The tax act a few years ago got rid of that tax break for employees,” Rinehart said.He mentioned an exception, however."If you are self-employed and now instead of going to your office, you're working from home, you can deduct a portion of your home you're using as your office."It is the same scenario for those homeschooling their children, Rinehart added, but he explained that extra paid leave was provided in the Family First Coronavirus Response Act for parents tending to their children.A tax write-off normally helps to reduce the amount of tax you owe."I think there will be folks who will try to claim these expenses when they itemize,” Rinehart said, “or add some sort of miscellaneous deduction, and they're just not going to be allowed."If you do make these claims or accidentally file for a write-off, Rinehart said, “You may get a letter from the IRS at some point saying, 'Hey, you owe us some money.’”In that event, Rinehart said the IRS will try to work with the filer to fix the issue. It may result in additional payments.Rinehart suggested tracking your expenses, organize receipts and use free tax resources online, as well as the IRS."Otherwise, it always makes sense to - if you have a more complex tax situation - have a professional look at it,” Rinehart said.This story originally reported by Julio Avila on wtkr.com. 2201