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✓ Published: 12-Mar-2024
👁 View: 5.1M times
✓ Published: 12-Mar-2024
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TheStreet’s J.D. Durkin brings you the biggest news of the day, including how the market fared and why so many parents are still financially supporting their adult children.
TheStreet’s J.D. Durkin brings you the biggest news of the day, including how the market fared and why so many parents are still financially supporting their adult children.
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_nearly-50-of-adult-children-are-still-financially-supported-by-their-parents.webp "TheStreet’s J.D. Durkin brings you the biggest news of the day, including how the market fared and why so many parents are still financially supporting their adult children.")
_from-next-year-personal-leave-will-include-super-payments.webp "The Federal government is pushing ahead with plans to add superannuation to commonwealth funded paid parental leave. The current scheme provides 20 weeks of leave for parents with a newborn at the national minimum wage.")
_martin-lewis-urges-workers-to-check-pay-slip-as-you-could-be-owed-thousands.webp "Martin Lewis urges workers to check pay slip as you could be owed thousandsSource: Martin Lewis Show, ITV")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.")
_irs-quietly-changes-the-rule-on-how-your-childrens-inheritance-will-be-taxed.webp "The IRS issued Revenue Ruling 2023-2, which had a substantial impact on estate planning, particularly where an irrevocable trust is involved. In the last decade or so, more families have begun utilizing irrevocable trusts to protect their assets from spend-down in order to qualify for government benefits, such as Medicaid and VA Aid and Attendance.<br/><br/>Prior to the issuance of this ruling, it was unclear whether assets passing to beneficiaries through an irrevocable trust would receive a step-up in basis, thereby eliminating any capital gains taxes that would otherwise be owed. Historically, assets that are disposed of during an individual’s lifetime are subject to capital gains taxes on the increase in value of that asset over time. The amount of capital gains owed is determined largely by the difference between the value at the time of purchase and the value at the time of transfer.")
_average-american-expects-this-much-cash-from-their-2023-tax-refund.webp "One in four Americans have no idea if they'll get a tax refund this year, according to new research. <br/><br/>A survey of 2,000 U.S. adults looked at how many are thinking ahead when it comes to their taxes and found the percentage of those who aren’t sure if they’ll get a tax refund is up to 25% from 20% last year.<br/><br/>On the other hand, 43% anticipate getting a tax refund in 2024, slightly up from 40% last year.<br/><br/>The average respondent who thinks they will be getting a tax refund estimates that they’ll get back $2,023.50 this year, down from the average of $2,338.40 last year.<br/><br/>Conducted by OnePoll for Cricket Wireless, the annual tax time survey found that two in three Americans said that if they received a tax refund in 2024, they would use it in a more “mature” way than years past (67%).<br/><br/>Of those who anticipate a tax refund, three in five are relying on that extra income and 36% plan on saving it, compared to just 26% last year.<br/><br/>Half of those who have gone through a major life event like putting contributions into a retirement plan (17%) or getting a new job (11%) also said that they would use their tax refund to help financially support new changes.<br/><br/>However, a quarter of Americans admit to feeling stressed leading up to the tax deadline (28%).<br/><br/>What’s causing that stress? For many, it’s uncertainty over what to expect.<br/><br/>For instance, of those who experienced life changes over the past year, such as getting married or having a kid, only 38% knew that these events will affect their tax return.<br/><br/>Knowledge also plays a role in respondents’ uncertainty, as one in five couldn’t define common tax terms like “adjusted gross income,” “dependent” or “filing status.”<br/><br/>The economy is also a culprit for those who are less certain about their finances this year.<br/><br/>Only a third of Americans think the 2024 economy will be better than the previous year (34%), with 45% sharing that this perspective impacts their decision to spend or save their tax refund.<br/><br/>To combat this, a majority of respondents have done more budgeting (68%) and 44% have spent less money, overall.<br/><br/>“High inflation and an unpredictable economy make many Americans feel uncertain around tax season,” said Tony Mokry, chief marketing officer at Cricket Wireless. “For many, this is the only time of year that they receive a windfall and how they treat these funds oftentimes sets the tone for their year financially. We continue to encourage consumers to look for value where they can, particularly on recurring bills like phone plans.”<br/><br/>However, those surveyed are taking control of their finances, keeping track of them on their phone (51%).<br/><br/>While only half of respondents last year used a banking app (52%), that number is up to 92% of those who use finance apps today.<br/><br/>Mobile wallet (48%) and investing apps (42%) were also among the most common finance apps last year, and are still popular among respondents this year (66% and 39%, respectively).<br/><br/>Credit score management apps have also climbed in popularity (39%) and one in five have a tax filing app, too (18%).<br/><br/>To make use of their resources, nearly a quarter of those who own a smartphone will use it to file their taxes in 2024 (23%).<br/><br/>“It's reassuring to see that more people are using their phones to manage their finances,” said Tony Mokry, chief marketing officer at Cricket Wireless. “It's difficult to stay on top of it all, but having access at your fingertips takes the headache out of managing money, making it easier than ever to track your spending, budget effectively, and work towards your financial goals.”<br/><br/>Survey methodology:<br/>This random double-opt-in survey of 2,000 general population Americans was commissioned by Cricket Wireless between Jan. 11 and Jan. 16, 2024. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).")
_rare-and-expensive-coins-worth-money-in-the-uk.webp "Certain rare coins are highly sought after by collectors, and could be worth hundreds or even thousands of pounds.")
_joe-biden-and-donald-trump-clinch-nominations-u-s-presidential-rematch-begins-124-oneindia-news.webp "Watch as President Joe Biden and former President Donald Trump secure their party nominations, setting the stage for a historic rematch in the U.S. presidential election. Get the latest updates and analysis on this bruising political showdown. <br/> <br/>#JoeBiden #DonaldTrump #JoeBidenvsDonaldTrump #USPresidentialElections #USNews #BidenvsTrump #USElections2024 #Oneindia<br/>~HT.97~PR.274~")
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_aew-talent-gone-okada-aew-money-bianca-belair-wwe-support-124-wrestletalk.webp "What's your take on this star being dropped? Let us know in the comments!<br/>CAN YOU NAME EVERY UNDERTAKER WRESTLEMANIA OPPONENT? | Survival Series https://youtu.be/vII2323gl3E<br/>More wrestling news on https://wrestletalk.com/<br/>0:00 - Coming Up...<br/>0:19 - Dominik Mysterio Gets Married<br/>1:26 - Bianca Belair Suffers Racist Abuse Online<br/>3:48 - Kevin Kelly Removed From AEW Roster<br/>7:53 - Kazuchika Okada’s AEW Deal<br/>10:22 - Low AEW Dynamite Rating<br/>AEW Talent Gone? Okada AEW Money, Bianca Belair WWE Support | WrestleTalk<br/>#BiancaBelair #AEW #Okada<br/><br/>Subscribe to WrestleTalk Podcasts https://bit.ly/3pEAEIu<br/>Subscribe to partsFUNknown for lists, fantasy booking & morehttps://bit.ly/32JJsCv<br/>Subscribe to NoRollsBarredhttps://www.youtube.com/channel/UC5UQPZe-8v4_UP1uxi4Mv6A<br/>Subscribe to WrestleTalkhttps://bit.ly/3gKdNK3<br/>SUBSCRIBE TO THEM ALL! Make sure to enable ALL push notifications!<br/><br/>Watch the latest wrestling news: https://shorturl.at/pAIV3<br/>Buy WrestleTalk Merch here! https://wrestleshop.com/ <br/><br/>Follow WrestleTalk:<br/>Twitter: https://twitter.com/_WrestleTalk<br/>Facebook: https://www.facebook.com/WrestleTalk.Official<br/>Patreon: https://goo.gl/2yuJpo<br/>WrestleTalk Podcast on iTunes: https://goo.gl/7advjX<br/>WrestleTalk Podcast on Spotify: https://spoti.fi/3uKx6HD<br/><br/>About WrestleTalk:<br/>Welcome to the official WrestleTalk YouTube channel! WrestleTalk covers the sport of professional wrestling - including WWE TV shows (both WWE Raw & WWE SmackDown LIVE), PPVs (such as Royal Rumble, WrestleMania & SummerSlam), AEW All Elite Wrestling, Impact Wrestling, ROH, New Japan, and more. Subscribe and enable ALL notifications for the latest wrestling WWE reviews and wrestling news.<br/><br/>Sources used for research:<br/><br/>Youtube Channel Comments Policy<br/>We appreciate the comments and opinions our viewers provide. Do note that all comments are subject to YouTube auto-moderation and manual moderation review. We encourage opinions and discussion, but harassment, hate speech, bullying and other abusive posts will not be tolerated. Decisions on comment removal are made by the Community Manager. Please email us at support@wrestletalk.com with any questions or concerns.")
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