Filling taxes online concept. Vector of people filling tax form documents using internet servicesgetty The amounts exempt from federal estate and gift taxes are adjusted for inflation each year. The IRS has come out with the exemption amounts for 2023. Gift and Estate Tax Exemption: The amount you can give during your lifetime, or at… More
Key Takeaways Mortgage rates have increased dramatically, with the average 30 year fixed rate increasing from around 3% at the start of 2022 to around 7% now. This is down to the Fed’s policy of increasing interest rates in a bid to slow the economy and, most importantly, slow the rate of record high inflation.… More
Compliance Concepts on Chalkboardgetty The announcement that Yvon Chouinard has given control of his $3 billion apparel company, Patagonia, to a Perpetual Business Purpose Trust, has generated a great deal of discussion about Purpose Trusts. The discussion centers around how the purpose of the trust can be enforced. Two general points about trusts. First, to… More
Can you reverse budget your way into retirement? (Photo by Robert Alexander)Getty Images Not everyone enjoys sitting down with a detailed budget and determining where every dollar and cent is allocated within their finances. How can you stay on track for your retirement without budgeting though? One option is reverse budgeting, and you can use… More
The relationship between wealth and happiness depends on how you earn it, and how you spend it.getty While money is supposed to be a rational and practical tool designed to provide comfort, our relationship with money goes far beyond that. Most people have a wealth number that will satisfy them and make them happy, but… More
Topline The stock market surged higher on Friday, with stocks on pace to snap a three-week losing streak as investors shook off Federal Reserve Chair Jerome Powellâs recent comments about more interest rate hikes from the central bank for the foreseeable future. Stocks have moved higher this week despite rising expectations for another big rate… More
Topline The stock market moved higher on Thursday even as recession fears continued and investors assessed comments from Federal Reserve Chair Jerome Powell, who pledged that the central bank is âstrongly committedâ to bringing down inflation with rate hikes for the foreseeable future. Fed officials are warning that they wonât pause or reverse rate hikes… More
Topline Shares of struggling retailer Bed Bath & Beyond traded sharply lower on Tuesday following the death of chief financial officer Gustavo Arnal over the weekend, which was later ruled as a suicide by the New York City Medical Examinerâs Office. The company has appointed its chief accounting officer as interim CFO. Moment Editorial/Getty Images… More
Topline The stock market tanked on Friday despite the August jobs report coming in slightly lower than expected and dropping significantly from last month, which did little to ease investor concerns about more aggressive interest rate hikes from the Federal Reserve plunging the economy into a recession. Stocks added to losses this week despite a… More
Topline Stocks rebounded slightly on Thursdayâreversing some of the steep declines in Augustâas investors continue to worry about a period of prolonged rate hikes from the Federal Reserve, while market experts warn of further volatility ahead and rising recession risks. A strong weekly jobs report wasnât enough to avoid another selloff to start the month.… More
Topline Stocks fell for a third day in a row on Tuesday as the recent summer market rally continues to fizzle out, with investors growing nervous about more big interest rate hikes from the Federal Reserve, which signaled last week that it would continue to tighten monetary policy for âsome timeâ in an effort to… More
Topline Shares of meme-stock favorite Bed Bath & Beyond, which have swung wildly in recent weeks, initially jumped before moving lower on Tuesday, a day before the struggling retailer will provide investors with a âstrategic updateâ on plans to revive slowing sales and secure new financing. The company will share more details Wednesday on plans… More
Topline Following hawkish commentary last Friday from Federal Reserve chair Jerome Powellâwho said that it would take âsome timeâ to bring down inflation with ongoing interest rate hikesâexperts warn that there is still a long way to go before a reversal in monetary policy, meaning more volatility for the stock market in coming months. Investors… More
Topline The stock market moved lower once again on Mondayâfollowing a sharp selloff on Friday in which the Dow plunged 1,000 pointsâas investors continue to worry about ongoing interest rate hikes and tighter monetary policy from the Federal Reserve potentially throwing the economy into a recession. Investor sentiment took a major hit last week after… More
Topline Shares of Peloton, a pandemic-era stock darling, tanked nearly 20% on Thursday after reporting a sixth consecutive quarter of losses, as the at-home fitness company continues to struggle with declining sales and excess inventory. Investors sold shares of Peloton after the company reported another âunderwhelmingâ quarter of … [+] losses and warned of further… More
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