Tax returns: What you should understand about your yearly income
Tax returns: What you should understand about your yearly income
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Motley FoolIRS Tells Millions of Taxpayers to Wait to File Returns
The IRS is advising millions of taxpayers to hold off on filing their tax returns until the agency can issue guidance on whether state rebate checks issued in 2022 will count as taxable income. Last year, 19 states approved stimulus or rebate payments, and the IRS still hasn't figured out what tax treatment will apply to those funds. "The IRS is aware of questions involving special tax refunds or payments made by states in 2022; we are working with state tax officials as quickly as possible to provide additional information and clarity for taxpayers,” the IRS said in a statement.
- CBS MoneyWatch
IRS tells millions of Americans to hold off on tax filing
Tax agency said it is trying to determine whether tax rebates, issued in many states last year, count as income.
- MarketWatch
‘And then 2022 happened’: I borrowed $500,000 from friends and family to invest in the stock market, foolishly promising a 10% return. Can I avoid legal action?
This promise was made via a signed promissory note, and the return was less than the annual return I had been experiencing years before. The question I have is twofold: What’s the best way to mend and repair the relationships with friends and family, and to what extent could I be faced with punitive legal action? Promissory notes are typically used in real estate, automobile, college and/or personal loans.
- Detroit Free Press
Democrats unveiled major tax overhaul: A guide to their proposals
Gov. Whitmer has long promised to expanded a tax credit for low-income workers and enact a tax break for seniors. Here's her plan.
- MarketWatch
No wonder Powell didn’t commit to extra hikes. Here are five reasons the January jobs report may be too good to be true.
Traders took heart that Fed Chair Jerome Powell, when he wasn’t being questioned by David Rubinstein on how he gets by on $190,000 per year, didn’t commit on Tuesday to having to be even more aggressive on interest rates given the huge 517,000 surge in nonfarm payrolls. Powell said rates would have to go even higher than the market currently expects “if we continue to get” strong labor market or higher inflation reports. Economists at Morgan Stanley point out that the January number reflects three factors it believes to be temporary: unusually warm weather, the resolution of California higher-education strikes and a very strong seasonal adjustment boost.
- Motley Fool
If You Invested $1,000 in Bitcoin in 2017, Here's How Much You'd Have Now
At the start of 2017, Bitcoin (CRYPTO: BTC) had been through some dark days as an asset. The big question for investors now is whether Bitcoin can make those same returns again over the next six years. First, let's recall how exactly Bitcoin got to where it is today.
- AFP
India's Modi hits back at opposition after Adani furore
Indian Prime Minister Narendra Modi on Wednesday defended his record after criticism of his close association with tycoon Gautam Adani, whose business empire has been rocked by corporate fraud allegations.Modi was speaking a day after Rahul Gandhi of the opposition Congress party told the legislature that Adani's close ties with Modi had led to "tremendous growth and expansion of his businesses".
- TheStreet.com
Here's Why the IRS Is Telling Millions Not to File a Tax Return Just Yet
Tax season is, behind perhaps only exam season for students or the period in between the start of cold weather and the holidays for everybody else, one of the most dreaded times of the year. The general advice to wait for official or professional guidance seems wise given the proliferation of different tax-related scams that pop up every spring -- this year, cybersecurity experts have reported a rise in "vishing."
- Bloomberg
Meta Asks Many Managers to Get Back to Making Things or Leave
(Bloomberg) -- Meta Platforms Inc. is asking many of its managers and directors to transition to individual contributor jobs or leave the company as it tries to become more efficient, according to people familiar with the matter.Most Read from BloombergMeta Asks Many Managers to Get Back to Making Things or LeaveGeorge Santos Gets Into Fight With Mitt Romney at State of the Union DebutBiden Taunts Xi Days After Shooting Down Chinese BalloonDeSantis Chides Trump as Republicans’ 2024 Presidential
- GOBankingRates
Why (and How) High-Income Millennials Should Brace for a ‘Richcession’
The "Richcession" is coming. If you're a high-income earner or wealthy millennial, there is a possibility that you are in for a much rougher ride in the coming recession than lower-income households....
- GOBankingRates
12 Types of Passive Income That Aren’t Taxable
There are numerous ways to earn passive income, but unfortunately most of them are taxable. This is particularly true of income-generating investments, of which only a handful allow you to avoid...
- Motley Fool
Intel Is Making a Catastrophic Mistake
Intel (NASDAQ: INTC) might have just had one of the worst years in the history of blue chip stocks. During the year it lost $9.4 billion in free cash flow and the stock price fell nearly 50%. An inventory glut in the semiconductor industry, especially in PC chips, hammered peers like Advanced Micro Devices and Micron Technology as well, and a decline in PC demand is also weighing on performance.
- Motley Fool
This Industry Will Add $200 Trillion to the Economy by 2030, Says Ark Invest -- Here's 1 Stock to Buy if It Does
Artificial intelligence is about to change the world, and this tiny stock could be among the biggest winners.
- Investopedia
Which States Don’t Tax Social Security Benefits?
Of the 50 U.S. states, 39 and the District of Columbia do not levy a tax on Social Security benefits.
- Motley Fool
2 Stock-Split Stocks to Buy Without Hesitation in 2023
While stock splits aren't value-creating vehicles per se, these events can allow more investors access to stocks that otherwise have risen to such steep prices that buying even one or two shares may be out of reach. There were several well-known stock splits that took place in 2022, and the current market environment has discounted some of these companies even further. If you're bargain-hunting for wonderful businesses that fit this bill in the 2023 market environment, here are two recent stock-split stocks that are primed to deliver sustainable growth for investors in the next decade and beyond.
- GOBankingRates
Stimulus Update: Washington Launches $1,200 Tax Credit for Working Families — Are You Eligible?
A new recurring tax credit is available, one which could give up to $1,200 to eligible low-to-moderate-income Washington families. Food Stamps: What Is the Maximum SNAP EBT Benefit for 2023?Find: 3...
- Detroit Free Press
Democrats unveil new plan to reduce taxes on retirement income
Under the plan, all Michigan pensioners would eventually be treated the same as private pension recipients who were exempted from the 2012 changes.
- Fortune
Anthony Scaramucci says his experience with FTX and ‘sociopathic’ founder SBF was ‘extremely disappointing.’ He’s now investing in a company run by a former exec of the imploded exchange
Scaramucci accused the FTX founder Sam Bankman-Fried of intentionally duping many people, but said he had faith in former FTX exec Brett Harrison.
- The Telegraph
Zoom to lay off 1,300 employees as work from home craze ends
Zoom is to make 1,300 layoffs, letting go of around 15pc of its workforce as the Covid-19 pandemic’s work-from-home culture comes to a crashing halt.