hi, everyone. welcome to "on the money." i'm becky quick. will it be a happy return? tax season is coming. what does it mean for you? thieves aiming for an unlikely target. what you need to know. the women who couldn't find anything to wear in her size. what she did and how it's turned into a booming business. black friday will be here before you know it. what you should buy and what you should avoid. and kobe bryant tries to win at a new game with very big stakes. "on the money" starts right now. >> thi "on the money," your money, your life, your future. now, becky quick. >> we dwbegin with your

it's been years since tax reform bill but changes might be ahead. house and senate republicans each released versions of a tax plan. this time, will tax reform be a reality? that's our cover story today. >> i always liked taxes to boost the economy, gives more to the people it belongs to. >> will you save money under a republican tax plan? congress's own official scorekeeper the joint committee on taxation found 20% of americans would actually have a higher tax bill within ten years. both the house and the senate plans would likely lower individual tax rates. to $12,000 for singles ould and $20,000 for couples. >> what i do know is it ends up eliminating the deductions that benefit me and cuts a lot more. >> itemized could be limited including state or local taxes, medical expenses and student loans, plus the mortgage interest reduction may change. >> tax deduction at the end of the year, if i buy a new house, that's not going to, i can

>> want to cut the top rate from 35% to 20%. although, it would be delayed a year until 2019 in the senate version. >> with the way the tax reform is going, it's going to make the economy better to where i can purchase things at a better price. i'll have more money in my pocket in the end. i think that they're spending a lot of time and going to go nowhere. >> we still have a long way to go before tenness can reach an agreement on tax reform. how would different types of taxpayers fare? mark from jackson hewitt, thank you so much for being with us today. >> good day. >> we've seen two different republican tax plans. one from the house and one from the senate. overall, are these plans very similar or are they different? what can you walk us through on this? >> house bill kind of followed the framework put out several weeks ago by the administration and the senate bill really dove tails on to that. a few nuanced differences. the senateil

mortgage debt amount up to the current standard of a million. so less impact there. they do totally take out the state and local tax but kept the basic premise the same. doubling the standard deduction. moving the tax rates around a little bit. probably most taxpayers, especially moderate and middle income taxpayers should enjoy real benefits from this plan should it come to law. >> a single mom with one child and let's say makes $30,000 a year. how would she fare under this scenario? >> she's right there in the middle of the good spot. middle income with a family. single mom with $30,000 with a dependent woul the exemption which might be problematic but gains the child tax credit up to $1600, $1650 on the senate version and the doubling of the standard deduction and many take the standard deduction. she'll end u tune of $700 under the house bill, probably more on the senate bill. >> that's a big number. why don't we run through a family of four?

$60,000. >> they'll lose exemptions for all four but make out on the increased standard dede 24,000 the child dependent care credit. 16$1 on the senate version and the tax rates. they end up in a sweet spot as well to the tune of almost $1400 or even higher. >> finally, let's talk about retired people because we heard retired people have complained about this loudly already but let's say we take a single taxpayer making $75,000. would they be paying more or less in taxes? >> they will do real well. again, they lose the exemption, but retirees generally don't itemize, so they'll double up on the standard deduction. some of the tax rates come out very favorably, so overall, we see a single person retiree in particular probably do real well under both the house and the senate version of this bill. >> let's talk more broadly about some of the bigger issues because, again, as we mentioned, joint taxation committee saying

20% of people sayipaying higher taxes so yea years from now. which would not deduct anything for state and local taxes. what would it mean for somebody in new jersey, connecticut, new york, and california and illinois? >> i think it will be important to keep in mind not everybody has a high income, high mortgage debt and high property tax bill. so the 20% that you referenced earlier, those are reae taxpaye lose a little bit on that property tax deduction. >> who's in the 20% that's going to be hipaying a higher rate? the 20% paying the higher rate do include some middle income people because some of the credits that phase out over seven or eight years. >> and that's the important detail that shouldn't be lost. there's no particular demographic that wins or loses. so when you hear that one particular segment is paying more or paying less, you kind

involve to take into a entire t. >> no one will be able to do their taxes on a postcard. still have to come to you to get them done. >> we don't just do taxes on a postcard. that went out in the electronic age but it will make it important to see a tax professional. good news for all taxpayers, good news for americans because there's something in this for everyone. you need to know how it's going to impact you. >> it's going to be confusing. thank you for your time today. >> thank you for your time. >> here's a look at what's making news into a new week "on the money." oil prices climbed about $57 this week with concerns of political unrest in saudi arabia. oil prices matter because they're the biggest driver of gasoline prices. mostly down week for stocks. with its worst day in two weeks on thursday with concerns about the tax bill to blame. the s&p 500 and the nasdaq both closed at record highs on wednesday although candn

amazon is cutting prices. now you'll be paying less for purchases from third party sellers with board games and gadgets among other items. the move is probably aimed at walmart. up next "on the money," otm investigation of a rising tide of theft. what criminals are targeting now and why it's hard even for the police to do anything about it? later, kobe bryant may be retired from the court but upping his game with business. his new venture and who he looks to for inspiration. right now, a look at how the st (burke) at farmers, we've seen almost everything so we know how to cover almost anything. even a swing set standoff.

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it's been less thae

months since hurricane harvey and irma made landfall. 63,000 damaged in the storms. according to the boat owners association. the insurance industry is still getting slammed with a triple whammy. both claims, insurance fraud and boat theft. investigators are especially surprised at what boat thieves are targeting. c contessa brewer here. >> many just relaxing on the boat but an abrupt end to the joyrides. they're targeting outward motors. engine of choice for thieves? yamahas. here in the wealthy south florida enclave of gables by the sea, we see expensive boat after boat docked on the intercoastal waterway and so many of those highly sought after yamaha engines. >> unfortunately, with the amount of waterways that we have here in miami-dade county, it's a target rich environment and sad to say, it is very easy for someon

like this or especially engines. a big influx of engines and lower units. they could pull it out like this one, take off six bolts, take lower unit and take off. >> florida sees more boat theft than any other state. routine cameras catch the burglaries in process but recovery rate is just 36% according to the national insurance crime bureau and that's for the boats. engines are easier to transport and to hide. >> i believe we were just watching two subjects trying to take a boat motor storage unit. >> miami-dade police sergeant said it's very difficult to trace the stolen engine, in part, because serial numbers get erased or altered. >> we have to start from the manufacturer and work our way back to see where that motor is supposed to be right now with the records. >> all these yamaha engines just sitting in plain

even experienced investigators can't tell if they've been stolen. we were there when a team of miami-dade police of unannounced to a boat repair shop. it didn't take long for them to find what they suspect is a stolen boat and two stolen engines. one of them? a yamaha. >> this engine here doesn't have any numbers. it has a sticker where it used to be but the number seems to be obliterated or for some reason, it's not there. so without that, without, like, this particular engine, i can't identify who the owner of this engines for further investigations as they are loaded on a flatbed, the owner shows up. he paid $3500 for the used engine from a local repair shop. >> what i worry about is losing my money because obviously, i pay for it. i not worry because i do nothing wrong. i just pay a person. if you go to ebay, you know who is the person, you buy something. you

>> part of the problem is here is there's no national database compiling engine but investigators say they see a huge spike in marinas and a texas man whose dealerships have been hit six times. so he installed the sophisticated security cameras and the cameras caught the thieves coming back again and again, same m.o., stealing a truck crashing through the gate using the forklift there on property to get the stolen engines on to a stolen flatbed. i mean, this one businessman. it's crazy. he's been hit six times in texas over and over again. lost $700,000 in boat engines to these sophisticated thieves. >> contessa, thank you very much. next, "on the money," the billion dollar retailers are ignoring. holiday season here. the best deals for black friday liberty mutual stood with me when this guy got a flat tire

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finding something to wear that makes you look good and feel good can be challenging. it's even harder when you're one of the 100 million women size 14 or above. three years ago, nadia decided to leave her wall street career to start dia and company, a styling service company dedicated to plus size women. nadia, thank you so much for being here. >>

going to give up my wall street career to do this. >> dia is 2.5 years old but i've been a plus size women all my life and some of the formative americans with how painful shopping really is, to shop above a certain size. eventually i realized i wasn't alone. there are 100 million women in this category and really being a part of creating change for such an incredible community of women was enough to leave the wall street job. >> how does it work? walk me through. >> we do everything from work with brands to enter for the first time, build our brands down through really creating the content and the community since participate and in the middle, access with stylists that help her curate what she's seeing and making sure it's her style and her budget. overall, really just creating an opportunity often for the first time for her j enjoy retail. >> that's the full deal if you're creating brands, creating the clothes that go into it. down to trying

what every individual customer wants. how did you get your arms around all of that? >> the surprising stat is that women today only play 20 cents on the dollar. smaller sizes pay on apparel. >> nobody is catering to them. >> exactly. if you think about how many problems really are inherent in a gap that large, we've taken a very comprehensive view and really said, every part of this challenge for her is our job. and, you know, we put her first always. we are exclusively dedicated to serving this woman and that has resulted to us having service. >> there are a lot of people who look at this and think, gosh, i don't even where to begin. i've got an idea i'd like to start out with too. what's the problem along the way and what would you offer in terms of advice to sod to somethi like this? take their idea and make it real? >> it's definitely a challenge. i think building anything from scratch is channllenging. i think the

women have a super power, the secret to success in entrepreneurship. >> thank y so mu for being here. >> thank you for having me. >> whether y clothing or anybody else on black friday and cyber monday, the holidays coming up and you better get ready. shopping can be overwhelming. it can be chaotic and cause even the savviest of shoppers to make rash decisions. how to stay on budget to get best deals? smart shopping expert of gi giftgran docket. trey, thank you for being here. you need a game plan with black friday. >> you absolutely do. don't try to conquer all your shopping in this quick weekend. it's too much. right? i would focus on the things that are historically the most deeply discounted. >> what? >> fall apparel, small and large electronics. smart watches all the way to flat screen tvs and small kitchen appliances. that's where you find the deepest discounts, so focus there. >> where should we hold off? what's better

the road? >> holiday decor, linens, these things are deeply discounted in december and even better off in january. >> i can still get better deals if i wait before christmas to get items too? >> yes, you can. >> in terms of trying to find it, i say, this is a great time to get out there but it's overwhelming. how to narrow it down? where to find the great deals and sort through to get a better handle on it all? >> i have four tips for you. first thing, i would look for a place that has all the deals in one place. i like slickdeals.net. a dedicated black friday page and cyber monday page. attractive ad scans. best deal in one spot. that's the first thing so you're not looking all over the place. second of all, there's a couple of ways to maximize your savings while shopping. first of all, shopping with discounted gift cards. gift card granny and look for discounted gift cards for the retailers you intend to shop with. with a card like that, you could save on average 2

savings are substantial there and second tip is to try to earn cash back while shopping online. so there's a desktop extension i like called the swag button. it's by swagbucks.com and that, while you're shopping around, it alerts you to cash back opportunities that you just click on to activate and then you earn points that can be redeemed in cash and gift cards and the last thing i would say is a lot of us have a fear of missing out. we don't want to miss out on a better deal. fomo, exactly. there is a new service called ernie i signed up for recently where it scans your e-mails for the purchases that you're making online and it looks for price drops and gets refunds for you. so it takes a little cut for their work but you can literal sit back and not worry. you know you're getting the best price no matter what. >> trey, thank you for your time. >> my pleasure, anytime. taking shots at

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here are the stories coming up that may impact your money this week.tu marks special anniversary for the stock market. on this day in 1972,

closed above first time ever. fast forward 45 years and here we are above 23,000. on wednesday, we'll see just how the consumer is doing when retail sales are released. and we'll get a measure of inflation with the consumer price index. on thursday, the industrial production report is out. that measures the strength of manufacturing. it also happens to be the day that harry potter and the soarer is sourcerer's stone premiered. you know them from the basketball court but these days, d hoops legend kobe bryant shooting for a different kind of success. he want to take on one of the biggest brands out there. our eric chemi has more. >> reporter: bryant long dominated the hardware. now chasing. third largest investor in sports train

>> in 2025, we want to be the number one sports trainer. we've got to make sure the market and the athle better for you option. >> reporter: body armor founded by michael. he's known for creating vitamin water and smart water. billion dollar brands that coca-cola purchased in 2007. snapple group two largest investors of body armor. sports drink remained stagnant. gatorade long dominated the market followed by coca-cola's powerade. 3% of the market but a new deal with ufc and the 110% annual growth may mean there's an opportunity. >> innovations to everything. you come out with a great idea but if the idea la substance, originality, innovation, you're not going to get anywhere. we have innovation. >> gatorade hasn't innovated in 55 years. same beverage from 1955 is the

artificial colors. who really wants to give red 40 and yellow 5 to athletes and children? >> i can call you from a rotary phone but probably not going to do it. >> basketball has given his unique access to some of the greatest minds in business. >> the amount of research and the amount of study that he does sun heard of but say the most important thing is imagination. you could learn anything you want to learn and study all the things in a book but if you don't have the imagination to take to another level, it doesn't mean anything. i think eli, i sat down and spoke for a couple of hours. it's enjoyable. >> much more of a pitchman. he's coordin deals and helps with flavors. whether bryant's skills translate to the business world armor's rapid growth.t impressed could make more money in drinks than he

body armor previously sold to coke for over 4 billion. if they could repeat that success again and kobe owns a significant chunk, he could make hundreds of millions of dollars. >> not chump change. does he have other aspirations, besides drinks? >> a lot. he thinks of himse story teller so a video deal with alibaba and nike shoes and his own venture capital firm. a lot of projects going on with him right now. >> awesome. thank you so much. that is our show for today. i'm becky quick. thank you so much for joining us. next week, you may know about l elloise. amazing penthouse apartment. each week, keep it right here. we're "on the money." have a great one and we'll see

good morning, america. new this morning. clarifying his comments. president trump explaining whether he believes russian president vladimir putin or america's intelligence agencies. who say russia meddled in our presidential election. >> i'm with our agencies, especially as currently constituted with their leadership. plus, the war of words ramping up this morning with north korea. breaking overnight. gym accident. nearly two dozen children hurt when a platform collapses. kids sent tumbling. >> it was really scary. and everybody was, um, crying and bleeding. >> ambulances rushing to the scene to treat the injured. the question this morning, how