If you turned age 72 during the second half of 2021, the deadline for your first annual required withdrawal from retirement accounts is April 1. In many cases, it’s the last chance to avoid a he...
Tag: Wealth
Sen. Elizabeth Warren says billionaires should pay more taxes to help the ‘next Elon Musk
Elon Musk and fellow billionaires should pay it forward in taxes to support the next generation of entrepreneurs who can make a difference, Sen. Elizabeth Warren, D-Mass., told CNBC on Tuesday. “...
Which countries have the best passports? Most are in Europe
A new index ranks Luxembourg as the top passport in the world for aspiring global citizens. The small European country ranked No. 1 out of 199 places in the “Nomad Passport Index 2022” p...
A Protocol Design for a Sustainable Store of Wealth
What is Nirvana? Nirvana is a decentralized reserve currency on the Solana network. The platform’s native token is ANA. The token is defined by a degree of stability that makes it ideal as a store of ...
Saudi Wealth Fund May Make Major Investment in Building Firms
(Bloomberg) — Saudi Arabia’s sovereign wealth fund may invest hundreds of millions of dollars in four local construction firms as it looks to bolster an industry that’s been crippled by payment ...
Big Cryptocurrencies Hold Price Support Levels And Then Rally
Montreal, Canada – 28 February 2018: Stacked cryptocurrency coins (Bitcoin, Ethereum, Litecoins) getty Bitcoin, Ethereum and XRP managed to hold above key price support levels during March and h...
How to avoid a tax filing rejection if last year’s return is pending
Drakula & Co. | Moment | Getty Images The IRS is backlogged and still sifting through tens of millions of pending returns, including many of last year’s filings. If your 2020 return is part ...
Treasury Secretary Yellen says Russian oligarch Abramovich ‘could face sanctions’ by U.S.
Chelsea owner Roman Abramovich looks on after their 3-1 win in the Barclays Premier League match between Chelsea and Sunderland at Stamford Bridge on December 19, 2015 in London, England. Clive Mason ...
57% of U.S. households paid no federal income tax in 2021: Study
More than half of American households paid no federal income tax last year due to Covid-relief funds, tax credits and stimulus, according to a new report. The nonpartisan Tax Policy Center estimates t...
How to avoid a 6-figure tax penalty on foreign bank accounts
Chuyn | Istock | Getty Images Whether you’re an expat or U.S.-based, you may need to report your foreign accounts to the U.S. Department of the Treasury by April 15 — or face costly tax penaltie...
Russia oligarch Abramovich’s superyachts evade sanctions
Eclipse, the private luxury yacht of Russian billionaire Roman Abramovich, anchors at Cruise Port in Marmaris district of Mugla, Turkey on March 22, 2022. Anadolu Agency | Anadolu Agency | Getty Image...
Wealth poised to make estate planning accessible to all
Estate planning startup Wealth is going after a $180 billion U.S. market by eliminating the three-ring binder of papers that become obsolete in months and replacing it with a digital dashboard that up...
Inflation is spiking the cost of pets. But owners are still splurging
Halfpoint Images | Moment | Getty Images Pet parenthood is getting more expensive, but many owners are still willing to splurge, according to a report from Rover, an online pet marketplace. Rising cos...
Why investors should care about who owns their advisor’s firm
Getting financial advice online is easier than ever before. Even so, many investors are likely to discover that there is no substitute for a human financial advisor. The problem, however, is selecting...
Older Americans, Flush With Housing and Stock Portfolio Wealth, Poised to Revive Spending This Year
Covid-19 kept many older Americans on the sidelines of the recovery in consumer spending as they held back from in-person services like dining and travel. But their spending is picking up as the Omicr...
Oligarch Roman Abramovich’s $50 million Colorado mansion could become a sanctions target
A Rocky Mountain mansion owned by Russian oligarch Roman Abramovich would likely be among the first assets frozen by the U.S. government if he is sanctioned by the White House in response to the war i...
Meet Erin Collins, National Taxpayer Advocate for the IRS
Erin M. Collins Source: Erin M. Collins If you’re one of the millions of Americans grappling with IRS issues, you may not realize there’s another option for your unresolved problems. The T...
The 4 types of vacations that may be hard to book in 2022
After two years of living with Covid-19, travelers are making big vacation plans again. But not every type of trip may be available this year, travel professionals said. That’s because many peop...
Million new millionaires were created in U.S. last year, report says
A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City. Spencer Platt | Getty Images The roaring stock market and crypto gains created more th...
Americans are pausing investments because of the Russia-Ukraine war
The ongoing Russia-Ukraine war is degrading Americans’ financial outlook, sparking the desire to save more and postpone investing, according to a survey from MassMutual. But steering clear of st...
Inflation is causing some older Americans to delay retirement plans
As inflation rises, many Americans are shifting life milestones, including retirement. Some 13% of Gen Xers and baby boomers say they have postponed or considered delaying plans to leave the workforce...
Bipartisan lawmakers push for IRS answers on problems facing taxpayers
Signage outside the Internal Revenue Service (IRS) headquarters in Washington, D.C. Bloomberg | Bloomberg | Getty Images A group of bipartisan lawmakers is pressing the IRS for answers on lingering is...
Russians Look To UAE-Based Crypto Firms For Safeguarding Wealth
In the chokehold of international sanctions and economic uncertainty, Russians have reportedly been seeking means of getting their wealth out of the country. Reuters reports that one of the ways being...
Cash-rich states are slashing taxes amid revenue windfalls
Anchiy | E+ | Getty Images And this year, at least a dozen states have made cuts or are eyeing reductions, including both temporary and permanent measures, according to the Tax Foundation. While the...
Self-made wealth more likely to flow into crypto than inherited: Report
Self-made wealthy individuals worldwide appear more likely to invest in cryptocurrencies like Bitcoin (BTC) as opposed to those whose wealth is mostly inherited, a new survey suggests. Wealth-X, a res...
Major League Soccer reaches a deal to support Black banks, aiming to help close the racial wealth gap
New York City FC forward Valentín Castellanos (11) passes the ball forward against Portland Timbers midfielder Diego Chara (21) during the MLS Cup Final between the Portland Timbers and New York City ...
Opinion: How ‘washed up…old man’ Warren Buffett is getting the last laugh
Poor old Warren Buffett. Poor, old, “washed up” Warren Buffett! It’s almost two years since the Berkshire Hathaway chairman, then 89, was publicly mocked by 40-something self-proclaimed stock market “...