Geber86 / Getty It’s official: The tax season kicks off for individual filers on Jan. 23, the IRS announced Thursday. For most taxpayers, you must file your federal return and pay your balance by April 18 this year to avoid racking up penalties and interest. “This filing season is the first to benefit the IRS
Wealth
Scott Olson | Getty Images You may face long odds of hitting the Mega Millions jackpot — now worth $1.35 billion — but the taxman is always guaranteed a slice when there’s a winner. The jackpot jumped again after no ticket matched all six numbers drawn Tuesday night to land the grand prize. If won
New U.S. Speaker of the House Kevin McCarthy, R-Calif., speaks with reporters in Washington, Jan. 7, 2023. Jon Cherry | Reuters House Republicans on Monday night voted to slash funding for the IRS, following a pledge from newly-elected Speaker Kevin McCarthy to repeal the money approved by Congress last year. Passing along party lines, the
Rolls-Royce sold a record number of cars in 2022 as demand for its $500,000 vehicles remained strong, despite recession fears, according to CEO Torsten Muller-Otvos. “We haven’t seen any slowdown or downturn,” Muller-Otvos told CNBC. “We haven’t seen any negative impact.” Rolls-Royce delivered 6,021 cars last year, up 8% over 2021 and the first time
When billionaire Richard Branson was 15, he dropped out of school to run a magazine. On a recent episode of the “Armchair Expert” podcast hosted by Dax Shepard and Monica Padman, the Virgin Group founder said he made the decision for a simple reason: He knew he could make money at it. By cold-calling companies
Jamie Grill | Getty Images It’s not easy to prioritize financial goals, especially when choosing between two essentials in an unsteady economy: saving for retirement or building your emergency fund. While there are higher 401(k) contribution limits for 2023, you shouldn’t skip rainy day savings to max out your retirement plan, experts say. Indeed, more
The odds of winning the Mega Millions jackpot, which is now $940 million, is 1 in more than 300 million. While very few will experience that kind of windfall in their lifetime, the lottery isn’t the only chance to come into sudden wealth. Whether it’s an inheritance, sale of a property, bonus or even a
Marko Geber | DigitalVision | Getty Images If you didn’t pay enough taxes in 2022, there’s still time to avoid a “surprise tax bill” and bypass extra penalties, according to the IRS. The deadline for fourth-quarter estimated tax payments for 2022 is Jan. 17, which applies to income from self-employment, investments, gig economy work and
While some Americans are still recovering from holiday festivities, many others may have lingering effects of spending regrets. Overall U.S. retail sales increased 7.6% year-over-year between Nov. 1 and Dec. 24, according to the latest Mastercard SpendingPulse survey. For many consumers, the amount of debt they took on to pay for holiday purchases grew as well.
Anadolu Agency | Anadolu Agency | Getty Images Mega Millions players may be daydreaming about what they’d do with an extra $785 million, the game’s current jackpot amount. One way they should count on using it if they win? Sharing a slice with the IRS. After no tickets matched all six numbers drawn Friday night,
The Hamptons dominate the rankings for the most expensive neighborhood in the Northeast, with Sagaponack, New York, taking the top spot. A beachside village that’s home to Drew Barrymore and Jimmy Fallon, Sagaponack is second only to Atherton, California for most expensive U.S. ZIP code in 2022, in terms of median value for homes, according
Labor activists hold a rally in support of a national $15 minimum wage on May 19, 2021, in Washington, D.C. Kevin Dietsch | Getty Images News | Getty Images As the calendar turns to 2023, workers in more than half of all states have something to look forward to this year: a higher minimum wage.