Home > Tax

Tax

Ramit Sethi On Who Should Pay On A First Date And Financial Red Flags In A Relationship

Ramit Sethi thinks women increasingly earning more than men is threatening their role as providers, driving relationship issues.

Niloy Chakrabarti Oct 16, 2024

Netflix's Ramit Sethi Hits Back at Grant Cardone For Calling US Middle Class 'Most Naive Group Of People On The Planet'

Ramit Sethi is concerned with influencers like Grant Cardone's portrayal of the middle class as losers who made the biggest mistake of buying into the idea of the middle class.

Niloy Chakrabarti Oct 16, 2024

Mark Cuban's Passive Income Playbook: Top Seven Ways To Make Money While You Sleep

Mark Cuban said that dividend-paying stocks, REITs, and high-yield savings accounts are among the easily accessible investment options people can explore for passive income.

Niloy Chakrabarti Oct 16, 2024

Dave Ramsey: Claiming Social Security At 62 Can Return More Than Waiting Until 70—If You Invest It All

Ramsey thinks investing Social Security income starting at 62 in mutual funds can help overcome shortfalls for the early claim.

Niloy Chakrabarti Oct 16, 2024

Three Accounts 'Average Joes' Can Use To Invest Like Millionaires: Maximizing Roth IRAs, 401(k)s, and Tax-Free Withdrawals

Rich people leverage 401(k) employer-matching options, create backdoor Roth IRA accounts to avoid future taxes, and create investment accounts for liquidity and access to low-cost, diverse funds.

Niloy Chakrabarti Oct 14, 2024

Do You Job Hop for Higher Pay? Vanguard Says It Could Cost You $300K in Retirement Savings

Most job switchers contribute to 401(k)s at the low default rate fixed by the plan provider and often fail to account for the drop in savings rate when they move to a new employer despite a decent pay bump.

Niloy Chakrabarti Oct 10, 2024

American Dream Accounts Act: New Bill Proposes $25K For Every US High School Graduate Via Social Security Investment

The proposed bill is expected to help kids become familiar with financial planning early on and level the playing field for Americans from all walks of life by offering each the chance to achieve financial freedom.

Niloy Chakrabarti Oct 10, 2024

'How Do I Split $7 Million Between My Son Who's Bad with Money and My Husband's Ungrateful Kids?'

The senior is struggling to ask her husband of 30 years to cut his biological son and ex-wife from her portion of their combined net worth as they rarely help or stay in touch.

Niloy Chakrabarti Oct 08, 2024

77-Year-Old Wants Rich Boyfriend Of 3 Years To Add Her To His Will Despite Protests From His Sons

The senior woman is exploring ways to ask her boyfriend of three years if he would include her in his will despite the wealthy man having previously expressed no inclination to marry her.

Niloy Chakrabarti Oct 05, 2024

'It's Bad To Make Your Kids Wealthy': Multimillionaire Won't Leave Cash Inheritance To His Kids, Here's What He's Doing Instead

George Appling and his partner Brian will help their kids in their formative years by paying for college, cars, and homes but avoid covering extravagant purchases and make sure teenagers work hard to receive their hard-earned money.

Niloy Chakrabarti Oct 04, 2024

Are You Among The Top 10% Of Wealthy Retirees? Here's How To Find Out And What Steps You Can Take To Join Them

To be among the top 10% of wealthy retirees, you require a net worth of $1.9 million. These people often have diverse investment portfolios, strong passive income streams, and a balanced long-term mindset.

Niloy Chakrabarti Oct 04, 2024

Boomer Reveals Heartbreaking Reason He Wishes He Claimed Social Security Earlier Than 70: 'I Regret Always Planning For The Future'

75-year-old Tim F. wishes he had claimed his Social Security earlier to fulfil his plans of spending it together with his wife, Sarah, who passed away at age 68.

Niloy Chakrabarti Oct 03, 2024

Clock Is Ticking for New Jersey Lottery Winner To Claim $1.13B Jackpot as Experts Argue Over the Best Cashout Option

The elusive winner of the $1.13 billion Mega Millions drawing in March has another six months to claim the prize. The unclaimed winning ticket was sold in the Neptune Township of Monmouth County, New Jersey.

Niloy Chakrabarti Oct 02, 2024

45% Americans Could Run Out Of Money In Retirement Despite Financial Planning: 4 Mistakes To Avoid

Americans who have saved their entire lives in retirement plans face the risk of going broke in their golden years because many deplete their funds severely through premature withdrawals and lack proper tax planning for post-retirement income.

Niloy Chakrabarti Sep 26, 2024

Social Security Checks In Nine States To Drop By Up To $200 Starting September Due To Tax Hike

The new tax will be adjusted when Social Security recipients in these states file their federal income tax returns. However, some states are working to extend exemptions to qualifying seniors.

Niloy Chakrabarti Sep 20, 2024

Newly Married 73-Year-Old Feels Slighted As Husband Plans To Leave $1.8M Home To 10-Year-Old Relative

A 73-year-old US woman moved to Europe to live with his husband she married three years ago. She wonders if it's normal to give away the house they share to a distant relative while she pays the bills and supports their lifestyle.

Niloy Chakrabarti Sep 19, 2024

'My Millionaire Husband Forced Me To Take Social Security At 62': Boomer Considers Divorce After Husband Refuses To Give Her Money

The Texas resident wonders if a divorce would offer her rights to the husband's inheritance and their five rental properties and incomes.

Niloy Chakrabarti Sep 17, 2024

Vanguard Says People Under 55 Are Making This $130K Mistake When Rolling Money Over From Their 401(k) To IRA

Most investors rolling over their 401(k) funds into an IRA are unaware that the money sits as idle cash until actively invested in stocks and bonds.

Niloy Chakrabarti Sep 17, 2024

Mother Cuts 75-year-old Son's Inheritance By $20k Over Decades-old Unpaid Debt Before Passing Away

The man lives in an assisted living facility and claims to have repaid $5,000 to his mom. He is now exploring ways to receive the entire inheritance payout, even if that means amending his mother's old tax returns.

Niloy Chakrabarti Sep 12, 2024

401(k) Millionaires In The US Reach All-time High in Q2: Here Are 4 Strategies They Use

More 401(k) participants contribute early and consistently for years while fully leveraging employer-matching contributions and major tax breaks.

Niloy Chakrabarti Sep 03, 2024

Grant Cardone Says 'If You Have A Million Dollars, You're Broke... You Need $10M In 2024 To Be Rich'

Equity fund manager and investor Grant Cardone explained that a million dollars would make you rich in 1960, not today, as the value of the greenback has dropped steeply over the decades.

Niloy Chakrabarti Aug 07, 2024

The Top 1% Save Over $150 Billion in Taxes Annually: 5 Tax-Saving Strategies They Use

Millionaires often leverage provisions like backdoor Roth IRAs, 1031 exchanges, and business asset depreciation to reduce tax liabilities and preserve capital.

Niloy Chakrabarti Aug 06, 2024

Woman Gets $475K Out Of $800K Game Show Prize After Taxes; Dave Ramsey Slams 'Thieving Government'

Soon after winning, Tyler faced challenges like state and federal taxes, entitled cousins wanting their fair share, and whether she should buy a new house.

Niloy Chakrabarti Jul 11, 2024

Harnessing Tax Compliance To Drive Business Growth

Christiaan Van Der Valk, Vice President for Strategy at Sovos, discusses how governments mandate real-time digital tax reporting and how this presents businesses with opportunities to streamline operations and leverage data-driven insights.

Kevin Akeroyd Jun 25, 2024

Analysis Reveals Potential £15 billion Annual Loss if Inheritance Tax is Scrapped by 2032

While London has the highest number of estates subject to the tax, regions such as Sussex, the Cotswolds, and areas around Birmingham are expected to have the highest number of taxable estates per 100,000 residences.

Pragati Singh Sep 27, 2023

Around 50% of UK retail investors lack knowledge about ETFs and IFISAs

A recent study shows that numerous UK investors are unaware of tax-efficient investment options such as ETFs, IFISAs and other products beyond traditional ISAs.

Adewunmi Adedayo Apr 14, 2023

UK to cut tariff on imports from developing countries starting next year

With the recently launched Developing Countries Trading Scheme (DCTS), the UK will extend tariff cuts to hundreds of more products from 65 developing countries.

Mark Jason Alcala Aug 17, 2022