Getty Images If you’re planning to sell investments or rebalance your taxable portfolio, you may be less likely to trigger a tax bill in 2023, experts say. This week, the IRS released dozens of inflation adjustments for 2023, including higher income tax brackets, increased standard deductions, bigger estate tax exclusions and more. The agency also
Month: October 2022
For many retirees, the ideal arrangement would be to spend their last dollar on the day they die. This is not feasible, of course, because they seldom know when they will die, or exactly how long their money will last. The retiree who is determined to remain solvent to the end will very likely die
Today’s Social Security column addresses questions about benefits lost to the earnings test, how and why non-covered pensions can affect benefits and how spousal and survivor’s benefits are calculated. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry answers here.
The New York Times NYT profiled older storm victims facing an uncertain future after Hurricane Ian. The featured picture was an older couple with their arms around each other, comforting each other. The reporter then disclosed that the couple was unable to rebuild the lives they had enjoyed for 20-plus years in their adopted state
People walk stores offering sales at a shopping mall in Santa Anita, California on December 20, 2021. Frederic J. Brown | AFP | Getty Images Grocery and energy prices have spiked, and credit card interest rates are climbing, but shoppers can expect some relief as they start holiday shopping. Retailers, desperate to coax inflation-fatigued consumers
In this article AAL Follow your favorite stocksCREATE FREE ACCOUNT An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images American Airlines reported a $483 million profit for the third quarter and joined rivals in forecasting resilient travel
In this article IBM DOW TSLA BX AAL T Follow your favorite stocksCREATE FREE ACCOUNT Check out the companies making headlines before the bell: AT&T (T) – AT&T rose 2.4% in the premarket after reporting better-than-expected profit and revenue for the third quarter. The company said wireless revenue rose 5.6%, the best quarterly improvement in
Halfpoint | Istock | Getty Images Retirees who rely on Social Security benefits for income will get some relief from record high inflation when an 8.7% cost-of-living adjustment kicks in next year. But two factors — the size of Medicare Part B premiums and taxes on benefits — may offset just how much bigger those
Trusts are a vital part of the wealth planning process. A trust can facilitate the efficient transfer of wealth from one generation to the next, as well as enable a family to reduce estate taxes, avoid the probate process and meet philanthropic goals. The most effective trust relationships start with a clear understanding of the
It’s Tax Notes Talk’s fifth anniversary! Host David Stewart discusses the history of the podcast with current and former members of the team: Gulnar Zaman, Derek Squires, Paige Jones, and Jordan Parrish. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of
Kumu Hinaleimoana Wong-Kalu chanted as she walked up the stairs and around the atrium at Kōʻula, the sixth high rise project to be completed at Ward Village, the 60-acre master planned community in downtown Honolulu. Leading the Blessing of the 41-story residential building with ocean and city views, she performed the traditional Hawaiian ceremony that
BMW Concept XM BMW BMW Group plans to invest $1.7 billion in its U.S. operations to build electric vehicles and batteries, the company announced Wednesday. The investment will include $1 billion to prepare for production of EVs at the automaker’s existing Spartanburg factory in South Carolina, and $700 million for a new high-voltage battery-assembly facility
In this article IBM Follow your favorite stocksCREATE FREE ACCOUNT IBM shares rose as much as 6% in extended trading on Wednesday after the technology conglomerate surpassed analysts’ estimates for the third quarter and lifted its growth projection for the full year. Here’s how the company did: Earnings: $1.81 per share, adjusted, vs. $1.77 per
In this article WFC Follow your favorite stocksCREATE FREE ACCOUNT Wells Fargo is one of the oldest and most powerful banks in the United States. Its reputation today is in tatters, following a notorious scandal that is still unfolding. Reports of fraudulent activity in Wells Fargo’s sales department first surfaced in 2013. The bank opened
For the ultra-rich, fly fishing is one of the most popular ways to spend time, a new report says. GROGL via Getty Images Spending time on yachts, golf courses and the slopes of exclusive ski resorts might be what first comes to mind when thinking about how the ultra-rich like to spend their time. And
Supreme Court nominee and U.S. Court of Appeals Judge Amy Coney Barrett on Capitol Hill in Washington, October 21, 2020. Ken Cedeno | Reuters The Supreme Court on Wednesday was asked to block the Biden administration’s student loan debt relief program, which is set to take effect this weekend. The request by the Brown County
We’ve all heard the problems with relying on numbers: garbage in, garbage out; liars figure, and figures lie; 87.2% of statistics are made up; and so forth. Yet some individuals do their retirement income planning by answering some questions in an online calculator, reviewing the results, and checking the box that their retirement planning is
The IRS says that taxpayers in disaster areas have more to file their returns to qualify for the penalty relief under Notice 2022-36 for their 2019 and 2020 tax returns. Under Notice 2022-36, penalties for late-filing certain tax returns, as well as penalties for not reporting certain required information on the Form 1065 or Form
Ashley Graham is more than just a supermodel and entrepreneur, she’s also a mom to three beautiful boys, two-year-old Isaac and newborn twins, Malachi and Roman. As she approached the birth of her twins in early 2022, she realized not only would she need to design a nursery, but because they recently moved to a
In this article LAD KMX GM F Follow your favorite stocksCREATE FREE ACCOUNT A sign advertises to purchase cars at a used car dealership in Arlington, Virginia, February 15, 2022. Saul Loeb | AFP | Getty Images DETROIT – Since the start of the pandemic in early 2020, U.S. automakers and dealers have seen record
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