Wealth
Hit with an unexpected tax bill? It’s time to adjust your withholdings
Georgijevic | E+ | Getty Images If you had a surprise tax bill this filing season, it may be time to adjust your withholdings, financial experts say. Whether you’re a W-2 employee or self-employed, the IRS expects an ongoing piece of your income, paid through withholdings or quarterly payments. As of April 8, nearly 68% of […]
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Supreme Court rejects challenge to SALT limit from New York, New Jersey
Rep. Judy Chu, D-Calif., speaks during a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol. Sarah Silbiger | Bloomberg | Getty Images The U.S. Supreme Court has rejected a challenge from New York and three other states to overturn the $10,000 limit on the federal deduction for state and […]
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What we learned from the Biden, Harris tax returns, according to experts
President Joe Biden and Vice President Kamala Harris after Biden signed H.R. 55, the “Emmett Till Antilynching Act,” in Washingtonon March 29, 2022. Samuel Corum | Bloomberg | Getty Images President Joe Biden and Vice President Kamala Harris have released their 2021 tax returns, and there are a few key takeaways for the average American, experts […]
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Distressed sales and 9-figure discounts: Hard-to-sell mega-mansions find a last resort at real estate auction
An aerial view of the grounds of Villa Firenze in Beverly Hills, California. Concierge Auctions When high-priced mega mansions for sale languish on the market — sprawling, flashy and unable to attract a buyer — some owners turn to a double-edged option: a real estate auction. The auction block can move trophy properties with nosebleed-worthy […]
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A $1 million winning Powerball ticket will expire soon. Here’s how much lottery players leave on the table
Justin Sullivan | Getty Images Powerball players may want to make sure they’re looking more closely at their numbers after each drawing. In about two weeks — on May 5 — a ticket purchased in Michigan a year earlier and worth $1 million will expire. And just last month in Maryland, no one came forward […]
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Worried about rising inflation? With nearly risk free I bonds soon to pay 9.62%, here’s what you need to know
Eakgrunge | Istock | Getty Images Less risk often means lower returns. But that’s not the case with I bonds, an inflation-protected and government-backed asset, which may soon pay an estimated 9.62%. I bonds currently offer 7.12% annual returns through April, and the rate may reach 9.62% in May based on the latest consumer price index data. Annual […]
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Lamborghini customers are now waiting more than 12 months for a car, CEO says
The wait time for a new Lamborghini SUV or super-car is now over 12 months, as demand from wealthy car lovers shows little sign of slowing, the automaker’s chief executive told CNBC on Wednesday. Despite volatile stock markets and growing economic uncertainty, demand for Lamborghini’s is “as high as ever,” said Stephan Winkelmann, Lamborghini’s CEO. […]
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How a mysterious Putin ally, the ‘Russian Gatsby,’ moves his billions
Russian billionaire, businessman and Council of the Federation Member Suleyman Kerimov attends a meeting on April 14, 2021 in Russia. A trove of leaked financial records provides a glimpse into how Kerimov and his associates used a maze of corporate structures to obscure his astronomical wealth and financial dealings. Mikhail Svetlov | Getty Images News […]
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Another Chinese city has overtaken New York for number of billionaires
Buildings in Shenzhen on Tuesday, March 15, 2022. The former fishing village, now a tech hub known as China’s Silicon Valley, has joined Beijing and Shanghai as the world’s top three cities for billionaires, edging out New York for the first time this year. Bertha Wang | Bloomberg | Getty Images Three years ago, American […]
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There’s a growing interest in wealth taxes on the super-rich. Here’s why it hasn’t happened
Sen. Ron Wyden, D-Ore., speaks during a Senate Finance Committee nomination hearing on Feb. 23, 2021. Greg Nash | Pool | Reuters Americans increasingly favor a wealth tax on the ultra-rich. But despite an uptick in proposals, these policies have struggled to gain traction. President Joe Biden in March unveiled the latest federal wealth tax […]
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