When Yin Ou’s family moved to the United States from Myanmar in 2009, her mother had to work minimum-wage jobs like jewelry packaging and babysitting to provide for the family. “My parents didn’t have the knowledge to start a business, or get an IRA or invest,” says Yin, who lives in New York’s Queens borough.
Month: May 2021
You Might Need to Plan Now Even if You’re Not Really Wealthy For wealth folks reviewing and beefing up insurance coverage and planning before income and estate tax rates may rise may be an obvious step. But, urgent planning is needed by many even moderate wealth taxpayers now! Very wealthy people are pursuing estate tax
Tax bills almost always force Congress to think about how to define income, but President Biden’s campaign promise to never raise taxes for those making $400,000 or less puts the question front-and-center. If you are not a tax geek, you might be surprised to know there are many definitions of income. Some are used to
Edward Mermelstein has seen a lot of trends since he entered the world of real estate in 1989. But a recent rise in wealthy individuals and first-time renters moving into the luxury lease space is unusual. “New York City is seeing more activity in the luxury rental markets. This interest is unprecedented and primarily driven
In this article XOM A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters This is breaking news. Please check back for updates. Activist firm Engine No. 1 has won at least two board seats at Exxon following a historic battle over the oil giant’s board of directors. The vote over
In this article DKS Mannequins stand next to merchandise displayed for sale at a Dick’s Sporting Goods store in West Nyack, New York. Craig Warga | Bloomberg | Getty Images Dick’s Sporting Goods reported Wednesday fiscal first-quarter earnings and sales that topped analyst estimates, saying kids returning to team sports boosted sales. Dick’s also raised
Apple CEO Tim Cook speaks about Apple Pay during an Apple special event at the Flint Center for the Performing Arts on September 9, 2014 in Cupertino, California. Getty Images Apple is looking for a lead negotiator to strike partnerships with “alternative payment” partners, according to a job listing posted on Tuesday. The role, according
In this article BA LMT GM An artist’s concept shows an outline of the lunar vehicle design. Lockheed Martin | General Motors Lockheed Martin and General Motors are partnering to develop a new type of lunar vehicle for NASA to use during its upcoming Artemis missions to the moon, the companies announced on Wednesday. “Surface
Oscar Wong | Moment | Getty Images Nearly two dozen states are ending federal unemployment benefits early, meaning millions of people will soon see their aid reduced or eliminated. But families can expect a cash infusion from a different source — the child tax credit — roughly around the same time their jobless benefits dry
Treasury Secretary Janet Yellen speaks during the daily press briefing on May 7, 2021, in the Brady Briefing Room of the White House in Washington, DC. Saul Loeb | AFP | Getty Images Treasury Secretary Janet Yellen is under fire from Democrats and Republicans alike for skipping an appearance before the House Small Business Committee
The pandemic changed a lot of things, including how we view work and retirement. According to Bloomberg, a new “life is short” mindset is driving many affluent Americans to retire now, as their stock portfolios and home values continue to surge. In fact, 1.2 million more baby boomers retired last year than the historical annual
May 29 is National 529 College Savings Plan Day! Do you know what a 529 plan is? Do you know how to use it? Let me explain. What is it? 529 College Plans were initially created to help families save money for higher education expenses for children, grandchildren, or others. They are named after Section
The real estate industry is and has always been driven largely by people and interpersonal relationships. However, technology is slowly changing how the industry as a whole operates. That’s why it’s crucial for real estate professionals to understand the importance of tech and how to best utilize it for their business and customers. Below, the
Zoom In IconArrows pointing outwards SINGAPORE — Malaysia’s daily Covid-19 cases are climbing rapidly and have surpassed India’s on one critical measure, according to statistics site Our World in Data. India has been experiencing a devastating second wave since April and has the world’s second largest Covid caseload. The country’s daily case count, while trending
Tali Aiona | EyeEm | Getty Images The Biden administration said Tuesday that it will develop offshore wind projects in the Pacific Ocean in partnership with the state of California. The move, which is the first of its kind, is a key stepping stone toward the White House’s goal of deploying 30 gigawatts of offshore
With two major cultural events held last weekend, the international arts scene signaled it has no intention of letting yet another year get canceled by Covid. Art Basel Hong Kong, which took place from May 19-23, marked the return of one of the world’s most venerated art fairs. The show came on the heels
Chris Ratcliffe/Bloomberg via Getty Images Crypto investors may be shell-shocked by a recent plunge in prices. But that sell-off has a silver lining: It opens the door to a money-saving tax strategy. Popular cryptocurrencies like bitcoin and ethereum shed more than half their value in volatile trading over the past month or so. A bitcoin
Many of our parents signed their estate plans decades ago. The documents may still be valid but if they are stale or outdated, you may spend significant money trying to use them down the road. Even worse, the documents may not properly put your parents’ wishes into action. Having an attorney review and update the
A new rankings index is the first ever to rate states’ performance on fines and fees, and the results aren’t flattering. Every state received a failing score with the highest-ranking state — Washington — earning a 54 out of 100. Rounding out the top three are Oklahoma and Rhode Island, which shows that neither political
Real Estate Investor, Syndicator, Operator, and Author, Matt Picheny is the Founder of Picheny - Your Backstage Guide to Passive Investing. I’ve been investing in real estate for over 15 years, but at the beginning, like most people, I immediately began trying to pay off my mortgage, figuring the quicker I got rid of the debt, the
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