Wealth

Gene Blevins | Reuters The jackpot for Powerball’s Monday night drawing is a whopping $1 billion. Sort of, anyway. The advertised number represents the pretax amount you’d get if you were to receive your windfall as an annuity spread over three decades. Yet most jackpot winners choose the upfront one-time cash payment — which, for

Travel demand is still picking up, and so are the prices of flight tickets.  Surging prices are causing some to cut back on spending, but others are finding new ways to pay for their holiday plans. More airlines are partnering with “buy now, pay later” firms to give customers the option to pay for their

The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC More than 72 million American households will pay no federal income taxes this year, marking a large decline from last year, according to a new analysis. An estimated 72.5 million households — or 40% of total households — will pay no federal income

Charles Rettig, IRS Commissioner, testifies during the Senate Finance Committee hearing in Washington, D.C., June 8, 2021. Tom Williams | Pool | Reuters The IRS said it has passed a milestone of hiring 4,000 new customer service workers as the agency prepares for the 2023 tax filing season. Hired over the past several months with

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

Bradley Williams “absolutely hated” his first job after graduating from college. The 28-year-old said the office environment wasn’t for him — and he quit in three months. Williams’ girlfriend, Cazzy Magennis, had just finished her degree at the University of Exeter, where they met. While their friends were starting their careers in London, Williams and

Kikoncos | Getty Images It’s Sunday morning, and my kids are checking player reports to evaluate their fantasy football lineups. They chatter about wins and losses from the previous week and rumors about a reserve player that looks ripe for a break-out. During the NFL games, they check their phones for player stats to determine

Late last week, a federal appeals court officially halted President Biden’s student debt forgiveness.  The U.S. Court of Appeals for the 8th Circuit issued an administrative stay on debt discharges while it reviews a lawsuit filed by six Republican-leaning states. The plaintiffs argue the debt forgiveness would lead to a loss in tax revenue, causing

Jose Luis Pelaez | Getty Images The IRS is sharing more details on how to report digital assets for the 2022 tax filing year, according to draft instructions. Since 2019, there’s been a yes or no “virtual currency” question on tax returns, requiring filers to check a box to disclose their taxable crypto activity. For

Only 41% of investors with over $1 million have a plan for passing on their wealth to future generations, UBS says. kate_sept2004 via Getty Images Some $84 trillion is expected to be passed from one generation to the next within the next 20 years. And that’s just in the United States. But 41% of those

Getty Images If you’re eager to save more for retirement in 2023, there’s good news from the IRS, which just announced higher limits for your annual 401(k) plan and individual retirement account contributions. The employee contribution limit for 401(k) plans is increasing to $22,500 in 2023, up from $20,500, and catch-up deposits for savers age

Becoming a billionaire means caring a lot about making money, right? Wrong, says Mark Cuban. As Cuban built the tech companies in the 1990s that would eventually make him exorbitantly wealthy, he never prioritized personal riches, he told GQ on Wednesday. “I never, ever thought in terms of money,” he said. Instead, Cuban said his

In 2013, I was working as an engineer and making $80,000 a year. But I felt unfulfilled by my job, so I started a food blog called Delish D’Lites. Shortly after, I was laid off from my job. At the time, it felt like a setback. But it was actually the start of something great,

For the ultra-rich, fly fishing is one of the most popular ways to spend time, a new report says. GROGL via Getty Images Spending time on yachts, golf courses and the slopes of exclusive ski resorts might be what first comes to mind when thinking about how the ultra-rich like to spend their time. And

MacKenzie Scott is chipping away at her promise to give away half of her multi-billion dollar fortune. On Tuesday, the Girl Scouts of the USA announced a $84.5 million gift from the billionaire, the biggest donation from a single benefactor in the organization’s history. The money will go toward updating facilities, hiring new staff and

Andersen Ross | Blend Images | Getty Images Amid soaring inflation, the IRS this week announced higher federal income tax brackets and standard deductions for 2023. The agency has boosted the income thresholds for each bracket, applying to tax year 2023 for returns filed in 2024. These brackets show how much you’ll owe for federal

More than 300 U.S. buyers have already put down deposits for Rolls-Royce’s first electric vehicle prior to its unveiling on Tuesday, the luxury automaker’s CEO told CNBC. Rolls-Royce CEO Torsten Muller-Otvos told CNBC that the buyers visited the company’s headquarters in Goodwood, England over the past two weeks to get a sneak peak at the

Following a successful beta test over the weekend, President Joe Biden announced on Monday the student debt forgiveness application is now live. You can visit the Federal Student Aid website to apply for up to $20,000 of student debt relief. Individuals who earned under $125,000, or households that made under $250,000, in 2021 or 2020

A new report indicates the travel industry in Asia-Pacific may be the only one in the world to recover by 2023. This year’s “Travel & Tourism Economic Impact” report — an annual publication by the London-based World Travel & Tourism Council — shows that, compared with pre-pandemic levels, tourism revenue in 2020 dropped more in

Former Theranos CEO Elizabeth Holmes (L) arrives at federal court with her partner Billy Evans on October 17, 2022 in San Jose, California. Justin Sullivan | Getty Images SAN JOSE, Calif. — A star witness in the trial of former Theranos CEO Elizabeth Holmes doubled down on his testimony two months after he showed up