The biggest tax changes to know before filing your 2022 return

The biggest tax changes to know before filing your 2022 return

Tom Werner | DigitalVision | Getty Images Certain tax credits have been reduced  One possible reason for a smaller tax refund is the child tax credit and the child and dependent care tax credit have been reduced for 2022, explained certified financial planner Cecil Staton, president and wealth advisor at Arch Financial Planning in Athens, … Read more

ATM ‘leaderboard’ ranks wealthiest people at Art Basel Miami Beach

ATM ‘leaderboard’ ranks wealthiest people at Art Basel Miami Beach

It pays to be at the top! An unorthodox ATM is snapping photos of guests at Art Basel Miami Beach and ranking their bank account balance on its “leaderboard” for all in attendance to see. The ATM, which was created by the Brooklyn art collective MSCHF, has turned a private ordeal into a public spectacle … Read more

Here’s why your tax refund may be smaller in 2023, the IRS says

Here’s why your tax refund may be smaller in 2023, the IRS says

If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS.  Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe. Your annual balance is based on taxable income, calculated by subtracting the greater of the standard … Read more

US to boost spend, Europe hold back amid cost-of-living crisis

US to boost spend, Europe hold back amid cost-of-living crisis

Many shoppers say they plan to spend less this Black Friday as the cost-of-living crisis bites. Richard Baker | In Pictures | Getty Images Black Friday may offer an opportunity to bag a bargain ahead of the festive period, but many shoppers will be expecting retailers to cut prices by a greater margin this year … Read more

Microsoft co-founder Paul Allen’s art tops $1.5 billion at auction

Microsoft co-founder Paul Allen’s art tops .5 billion at auction

Art handlers hold a painting titled “La montagne Sainte-Victoire” by Paul Cezanne (estimate on request: in excess of $120,000,000) during a photo call to present the highlights from the estate of the philanthropist and co-founder of Microsoft, Paul G. Allen in London on Oct. 14, 2022. Wiktor Szymanowicz | Anadolu Agency | Getty Images Christie’s … Read more

TreasuryDirect crashes as investors try to beat key I bond deadline

TreasuryDirect crashes as investors try to beat key I bond deadline

Shapecharge | E+ | Getty Images Investors crashed the Treasury Department website for Series I bonds on Friday as they clamored to lock in a record-high interest rate before a key deadline. I bonds have proven to be a bright spot for investors amid declines in the broad stock and bond markets this year. They … Read more

Tom Brady and Gisele Bundchen announce divorce after 13 years of marriage

Tom Brady and Gisele Bundchen announce divorce after 13 years of marriage

Tom Brady and Gisele Bundchen arrive at the Metropolitan Museum of Art Costume Institute Gala (Met Gala) to celebrate the opening of “Heavenly Bodies: Fashion and the Catholic Imagination” in the Manhattan borough of New York, May 7, 2018. Eduardo Munoz | Reuters NFL superstar Tom Brady and supermodel Gisele Bündchen are getting divorced after 13 years … Read more

How to save above 401(k) deferral limits with after-tax contributions

How to save above 401(k) deferral limits with after-tax contributions

If you’ve already maxed out 401(k) plan contributions for 2022 and you’re eager to save more for retirement, some plans have an under-the-radar option, experts say. For 2022, you can defer $20,500 into a 401(k), plus an extra $6,500 for investors 50 and older. But the total plan limit is $61,000 per worker, including matches, … Read more