Wealth
Manhattan apartment sales plunge in fourth quarter as brokers fear a frozen market
Craig Warga | Bloomberg | Getty Images Manhattan apartment sales fell by 29% in the fourth quarter, sparking fears of a frozen market in which buyers and sellers stay on the sidelines due to economic and rate fears. There were 2,546 sales in the quarter, down from 3,560 last year, according to a report from […]
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The Mega Millions jackpot is $785 million. Taking the lump sum is ‘typically a big mistake,’ lottery lawyer says
This could be a very good year for one lucky winner of the fourth-largest jackpot in Mega Millions history. And yet, kicking off 2023 with $785 million could have a downside. “The curse of the lottery losers is very real,” said Andrew Stoltmann, a Chicago-based lawyer who has represented several recent lottery winners. One of […]
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These states are raising their minimum wages in 2023. Chart shows where workers can expect higher pay
Labor activists hold a rally in support of a national $15 minimum wage on May 19, 2021, in Washington, D.C. Kevin Dietsch | Getty Images News | Getty Images As the calendar turns to 2023, workers in more than half of all states have something to look forward to this year: a higher minimum wage. […]
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5 tax and investment changes that could boost your finances in 2023 amid economic uncertainty
1. Bigger contribution limits on retirement accounts If you’re eager to boost your retirement savings, there’s good news for 2023: higher contribution limits for your 401(k) and individual retirement account. In 2023, the employee deferral limit is $22,500, up from $20,500, and catch-up deposits for savers age 50 and older jump to $7,500, up from […]
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‘It’s massively welcome.’ What to know about the latest 1099-K tax reporting change for Venmo, PayPal
Hispanolistic | E+ | Getty Images If you’re worried about getting a tax form from payment apps like Venmo or PayPal, you’re now less likely to receive one for 2022 — thanks to a change from the IRS. The agency on Friday announced a one-year delay for a new tax reporting rule, requiring payment services […]
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Hope Global Forums rallies business leaders for financial literacy, ‘so that everyone learns the language of money’
Preaching a message of financial education and financial freedom, John Hope Bryant is galvanizing America’s top business leaders in the battle for “silver rights,” a term he coined to describe the economic empowerment of minority and low-income communities. “I don’t know about you, but I’m sick and tired of being sick and tired,” Bryant said […]
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Travel abroad is poised ‘for a big comeback’ in 2023 as Americans eye trips to Asia, Europe
Mt. Fuji and Tokyo skyline, Japan. Jackyenjoyphotography | Moment | Getty Images Americans are poised to travel overseas in a big way in 2023. Households are continuing to unleash two or three years’ worth of pent-up demand as Covid-19 fears wane and the last vestiges of pandemic-era border restrictions have eased. The U.S. dollar also […]
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Online car market Bring a Trailer closing out year with record $1.35 billion in sales
1977 Datsun 280Z 4-Speed Courtesy: Kahn Media Online car market Bring a Trailer said it expects to close out the year with a record $1.35 billion in sales, as a new generation of collectors logged on to buy classic and pre-owned cars. Randy Nonnenberg, Bring a Trailer’s president and co-founder, told CNBC that sales for […]
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This ‘wild card’ strategy can help retirees with unpaid quarterly taxes before year-end
Sdi Productions | E+ | Getty Images If you’re retired and skipped your 2022 tax payments, you can still avoid late penalties with an under-the-radar year-end strategy, experts say. Since taxes are due as you receive income, you must withhold levies from earnings or pay quarterly estimated tax payments. You may owe quarterly taxes if […]
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There’s still time to reduce your 2022 tax bill with these last-minute moves
‘Take lemons and make lemonade’ with tax-loss harvesting With the S&P 500 Index down nearly 20% for 2022 as of mid-day on Dec. 19, it may be a good time for tax-loss harvesting, which allows you to offset brokerage account profits with losses, Roberge said. After reducing your 2022 investment gains, you can use additional […]
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