Wealth
IRS erred on child tax credit payments for millions of eligible families – but aid was 98% accurate overall, report finds
The IRS skipped about $3.7 billion in advance child tax credit payments for 4.1 million eligible households, but sent more than $1.1 billion to 1.5 million filers who didn’t qualify in 2021, according to an audit released Tuesday by the Treasury Inspector General for Tax Administration. However, the agency accurately issued 98% of the aid, […]
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‘We are not rich:’ A couple share one money tip that lets them travel full time — on land and sea
“What if I were to die tomorrow, what would you do for the rest of your life?” That’s what Malaysian Samantha Khoo asked her Singaporean husband Rene Sullivan in 2017, when he came home late from a long day of work. “It was really sudden and it took me some time before I answered her,” […]
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Stock market losses wipe out $9 trillion from Americans’ wealth
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. Brendan McDermid | Reuters Falling stock markets have wiped out more than $9 trillion in wealth from U.S. households, putting more pressure on family balance sheets and spending. Americans’ holdings of corporate equities and mutual fund shares […]
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Going to Hong Kong? Get ready for a barrage of Covid tests
Travelers headed to Hong Kong no longer need to quarantine in a hotel upon arrival. But they will have to submit to a barrage of Covid tests. They can go to work, take public transportation and go to supermarkets, but for the first three days, travelers can’t go into “high-risk premises” such as restaurants, bars […]
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Christie’s launches ‘Department X’ as collectible sneakers and street-wear boom
Nike Unreleased Air Jordan VI Donda West Sneaker CHRISTIE’S IMAGES LTD. 2022 Christie’s is launching a new department to capitalize on the booming market for collectible sneakers, streetwear and sports history. The auction house on Monday announced its Department X, giving Air Jordans and Supreme skate decks their own category, alongside Impressionist & Modern Art […]
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Inside the $250 million penthouse on ‘Billionaires’ Row’
A penthouse atop the world’s tallest residential building − listed for $250 million − is marking the biggest test of the ultra-luxury real estate market at a time of falling sales and growing economic uncertainty. The three-story mega-home inside Central Park Tower, which spans more than 17,500 square feet, is the country’s most expensive listing. […]
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Pairing up? Here’s how to know when it’s time to combine your finances
Hispanolistic | E+ | Getty Images Money may not be top of mind if you’re in love, but it deserves some serious consideration if you want a lasting relationship. A partnership that pools resources and shares expenses can be a very good thing for a relationship and for each other’s financial well-being. However, different spending […]
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Nearly 6 in 10 donors may give more to charity despite economic fears, study finds
With lingering high inflation, stock market volatility and recession fears, it’s easy to see why some Americans might trim charitable giving. But some donors may be eyeing bigger gifts for 2022 because of that economic uncertainty, according to a study from Fidelity Charitable, a nonprofit enabling investors to give through a so-called donor-advised fund, a […]
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Benchmark bond yields are ‘bad news’ for investors as the Fed hikes rates by 0.75%. What it means for your portfolio
Morsa Images | E+ | Getty Images As investors digest another 0.75 percentage point interest rate hike by the Federal Reserve, government bonds may be signaling distress in the markets. Ahead of news from the Fed, the policy-sensitive 2-year Treasury yield climbed to 4.006% on Wednesday, the highest level since October 2007, and the benchmark […]
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How billionaire Jared Isaacman is using fighter jets to prepare his crew for private SpaceX missions
Astronauts love fighter jets, and billionaire founder Jared Isaacman is no different. Isaacman, who founded payments company Shift4, is deep into training with his team for the first spaceflight of the Polaris Program, announced earlier this year, in partnership with Elon Musk’s SpaceX. Isaacman’s crew of four is using fighter jets — including aircraft from his […]
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