Wealth
After ‘misery’ for tax filers in 2022, IRS to start 2023 tax season stronger, taxpayer advocate says
Mykhailo Polenok / Eyeem | Eyeem | Getty Images After another challenging year for the IRS in 2022, the agency may be primed for a better 2023 tax season — but improvements may take time. The National Taxpayer Advocate on Wednesday released its annual report to Congress covering last year’s biggest issues at the IRS, […]
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Iconic Kobe Bryant jersey up for auction, expected to fetch up to $7 million
Sotheby’s is selling Kobe Bryant’s MVP season jersey. Source: Sotheby’s An iconic piece of Kobe Bryant memorabilia is hitting the auction block, and it’s expected to be his most valuable item ever to go up for sale. Sotheby’s is listing a Kobe Bryant jersey, worn in 25 games during his 2007-2008 MVP season. The company […]
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Mega Millions jackpot jumps to $1.35 billion for the next drawing. Here’s the tax bill if there’s a winner
Scott Olson | Getty Images You may face long odds of hitting the Mega Millions jackpot — now worth $1.35 billion — but the taxman is always guaranteed a slice when there’s a winner. The jackpot jumped again after no ticket matched all six numbers drawn Tuesday night to land the grand prize. If won […]
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‘Don’t wait until March’ to hire a tax pro, says advisor — 3 moves to make before the 2023 tax filing season opens
mediaphotos | E+ | Getty Images Enlist tax prep help One of the first things to consider: Will you be filing your own taxes this year or tapping an expert to file a return on your behalf? If you’re planning to hire a tax preparer, January is a good time to find someone, said certified […]
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House Republicans vote to strip IRS funding, following pledge to repeal nearly $80 billion approved by Congress
New U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks with reporters in Washington, Jan. 7, 2023. Jon Cherry | Reuters House Republicans on Monday night voted to slash funding for the IRS, following a pledge from newly-elected Speaker Kevin McCarthy to repeal the money approved by Congress last year. Passing along party lines, the […]
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Rolls-Royce sees history revenue in 2022, no slowdown in spending by the rich
Rolls-Royce offered a history selection of cars in 2022 as demand from customers for its $500,000 vehicles remained sturdy, despite economic downturn fears, according to CEO Torsten Muller-Otvos. “We haven’t seen any slowdown or downturn,” Muller-Otvos told CNBC. “We have not witnessed any damaging effect.” Rolls-Royce sent 6,021 cars and trucks last 12 months, up […]
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How to balance retirement and emergency savings in a shaky economy
Jamie Grill | Getty Images It’s not easy to prioritize financial goals, especially when choosing between two essentials in an unsteady economy: saving for retirement or building your emergency fund. While there are higher 401(k) contribution limits for 2023, you shouldn’t skip rainy day savings to max out your retirement plan, experts say. Indeed, more […]
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Mega Millions jackpot is $940 million: Here’s what to do if you come into a large sum of money
The odds of winning the Mega Millions jackpot, which is now $940 million, is 1 in more than 300 million. While very few will experience that kind of windfall in their lifetime, the lottery isn’t the only chance to come into sudden wealth. Whether it’s an inheritance, sale of a property, bonus or even a […]
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Where to keep your cash amid high inflation and rising interest rates: It’s ‘a little tricky,’ says expert
dowell | Moment | Getty Images Investors have many options when saving for short-term goals, and those choices have become more complicated amid high inflation and rising interest rates. While there have been signs of slowing inflation, the Federal Reserve is expecting higher interest rates to continue. “It looks like this year might be a […]
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Here are some strategies that can help you dig out of holiday debt
While some Americans are still recovering from holiday festivities, many others may have lingering effects of spending regrets. Overall U.S. retail sales increased 7.6% year-over-year between Nov. 1 and Dec. 24, according to the latest Mastercard SpendingPulse survey. For many consumers, the amount of debt they took on to pay for holiday purchases grew as well. […]
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