Roth IRA owners don’t have mandated withdrawal requirements during their lifetimes. But that’s not the case for those who inherit a Roth IRA. Since Roth IRA withdrawals are not subject to income taxation, you would think that there would be no penalties for failing to take a withdrawal when beneficiaries are required to do so.
Month: April 2023
Professor Samuel Brunson of Loyola University Chicago discusses social media tax scams highlighted in the IRS’s 2023 “Dirty Dozen” list of scams and how to spot this misinformation. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International.
While a home with exceptional architecture showcases the great creative and innovative strides that humankind can achieve, a home with exceptional views showcases our limits—after all, there is perhaps no greater architect than mother nature. Of course, truly superlative homes are those that combine the best of human and natural designs or, as famed linguist,
In this article BBBY Follow your favorite stocksCREATE FREE ACCOUNT A closed Bed Bath & Beyond store in San Francisco, California, US, on Monday, April 24, 2023. David Paul Morris | Bloomberg | Getty Images In strip malls across the country, Bed Bath & Beyond stores have “Closing Soon” signs. For other retailers, those may
In this article SNAP Follow your favorite stocksCREATE FREE ACCOUNT Co-founder and CEO of Snap Inc. Evan Spiegel holds up a Pixy drone while speaking during the Viva Technology conference dedicated to innovation and startups, at the Porte de Versailles exhibition center in Paris, France June 17, 2022. Benoit Tessier | Reuters Snap shares dropped
POLAND – 2023/03/21: In this photo illustration, a First Republic Bank logo is displayed on a smartphone with stock market percentages in the background. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images Check out the companies making headlines in midday trading. First Republic — Shares of the
Mark Cuban is riled up about Twitter’s new subscription protocol. The billionaire investor and owner of the NBA’s Dallas Mavericks recently took to Twitter to air his grievances and present ideas, after the platform removed blue checkmarks from countless previously verified accounts. Cuban wrote that Twitter CEO Elon Musk botched a marketing opportunity, and could
Peopleimages | Istock | Getty Images For many Americans, a comfortable retirement may feel out of reach. Retirement confidence has dropped significantly in 2023, marking the biggest decline since 2008 among both workers and retirees, according to a new report from the Employee Benefit Research Institute and Greenwald Research. Workers’ confidence dropped to 64% from
The recent annual report from the Trustees of Social Security and Medicare estimated that the trust fund backing Social Security retirement benefits will run out of money in 2033. But that might not be the end of the story. There’s a second trust fund that supports Social Security disability benefits. Not long ago that trust
This is among the worst Social Security horror stories I’ve encountered in years of writing about Social Security’s financial abuse of everyday Americans. Everyone thinks Social Security is our country’s finest public policy with superbly dedicated and fully trained staff. That ‘s until they get a bill in the mail, often massive, to repay Social
When cosmetics mogul Elizabeth Arden purchased hundreds of acres in rural Maine for her summer estate-turned-spa she probably didn’t think it would become a haven for veterans with missing limbs, but that’s exactly what retired Army Staff Sergeant Travis Mills thought when he purchased the property in 2015. Mills, who lost all four of his
Aaron Smith, chief executive officer of the National Cannabis Industry Association, speaks during a news conference on the Safe Banking Act outside the US Capitol in Washington, D.C., US, on Wednesday, Sept. 14, 2022. Ting Shen | Bloomberg | Getty Images A group of bipartisan lawmakers reintroduced the Secure and Fair Enforcement (SAFE) Banking Act
In this article 6758.T-JP Follow your favorite stocksCREATE FREE ACCOUNT Sony aims to sell 18 million PlayStation 5 consoles in its financial year ending in March 2023. Thiago Prudencio | Lightrocket | Getty Images Sony posted record annual operating revenue on Friday, helped by its chip division and sales of its flagship PlayStation 5 gaming
Baidu CTO Wang Haifeng speaks at the unveiling of Baidus AI chatbot Ernie Bot at an event in Beijing on March 16, 2023. Michael Zhang | Afp | Getty Images BEIJING — More than two months since the ChatGPT craze hit China, a similar artificial intelligence-based product has yet to reach the country’s population at
Grace Cary | Moment | Getty Images Wholesale egg prices are poised to fall to $1 a dozen in coming weeks — the lowest level in almost two years — as prices undergo a dramatic retreat from record highs over the winter. Wholesale prices — which retailers like grocery stores pay to egg distributors —
A measure to close North Dakota’s public pension plan is headed to Governor Doug Burgum’s desk for signature. Before enacting the measure, the state’s chief executive would be wise to look at the experience of other states that have made such a drastic move. State leaders have learned the hard way that ending pension benefits
You can see where this is going. As the US gets ever closer to hitting its borrowing limit sometime this summer, Congress is stumbling towards its usual off-ramp: Finding a way to continue borrowing while avoiding the hard choices needed to reduce deficits and slow the growth of the ever-increasing debt. At the moment, at
Jenni Kayne sold her Santa Ynez Ranch this week for $6 million. The Los Angeles-based designer bought the 20-acre property in September 2020 and spent two years infusing the home with the signature style, neutral color palettes and natural materials that has made her skincare, clothing and home-offering lines famous. Kayne said the renovations were
In this article LUV BA Follow your favorite stocksCREATE FREE ACCOUNT Southwest Airlines is reducing its hiring targets for this year because of delays in new aircraft from Boeing, the carrier’s CEO Bob Jordan said Thursday. The Dallas-based airline expects to receive just 70 new 737 Max planes from Boeing this year, down from a
In this article INTC Follow your favorite stocksCREATE FREE ACCOUNT Intel CEO Pat Gelsinger, with U.S. President Joe Biden (not pictured), announces the tech firm’s plan to build a $20 billion plant in Ohio, from the South Court Auditorium on the White House campus in Washington, January 21, 2022. Jonathan Ernst | Reuters Intel reported
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