Read this if you would be interested in getting a $230,000 tax deduction. Escape getty You can sock away $7,000 in a tax-sheltered IRA, if you’re older. You can do $26,000 with a 401(k) deferral. Or you could be using an entirely different vehicle to put the contribution deep into six-figure territory. Up for discussion
Month: January 2021
Miami’s hot real estate market continues getty Miami’s luxury hot luxury real estate market shows no signs of cooling down. Everyday boldface names in the media announce they are moving to Miami. From out of favor politicians to film stars to mid-list celebrities to Wall Street billionaires Miami is the current must-have address. According
Small investors outsmarted the smart money, and the war between the Reddit traders and hedge funds seems to have made an indelible mark on Wall Street. Big investors or hedge funds, who hold short positions in individual stocks, saw some of these positions come under siege from a large cohort of small investors, many of
People walk past a GameStop store in Midtown Manhattan on January 27, 2021 in New York City. Michael M. Santiago | Getty Images The astronomical rally in GameStop has imposed huge losses of nearly $20 billion for short sellers this month, but they are not budging. Short-selling hedge funds have suffered a mark-to-market loss of
The Robinhood website home screen on a smartphone. Gabby Jones | Bloomberg | Getty Images Restrictions on Robinhood traders are still tight and getting tighter throughout the day on Friday, now only allowing GameStop holders to buy a single additional share. The stock trading app has also expanded its list of restricted stocks from 13
Aimee Dilger | SOPA Images | LightRocket | Getty Images Maybe you’ve heard by now that an army of retail investors has managed to use one of hedge funds’ common investment strategies against them. That is, short-selling. It generally involves selling borrowed shares of a stock with the belief that the price will drop, at
You’ve won the lottery, and it was a “B”iggie, as in “B”illions of dollars. Now what? The holders of two tickets faced that question last week. On Jan. 22, in Michigan, a Mega Millions ticket hit the jackpot at $1.05 billion. Two days earlier, on Jan. 20, in Maryland, a winning Powerball ticket rang up
getty The Coronavirus Aid, Relief and Economic Security (CARES) Act , signed into law in March 2020, provided a lifeline to many Americans struggling in the wake of the COVID-19 pandemic and the economic turmoil that followed. Among the law’s many provisions was the ability for certain taxpayers impacted by COVID-19 to take distributions of
China has been slow to accept property tech start-ups Alexei Druzhinin/TASS “Business to business software as a service is a massive driver of the overall technology world of America,” says Dominic Penaloza, CEO and founder of REinvent. “They have amongst the best valuation metrics of any tech businesses. What’s really interesting about China is that
Johnson & Johnson Coronavirus vaccine illustration Dado Ruvic | Reuters Johnson & Johnson said Friday that its one-dose coronavirus vaccine was 72% effective in protecting against Covid-19 in the United States. The vaccine, however, was less potent in other regions, it said. The highly anticipated results were based on 468 confirmed Covid-19 infections among the
Tesla reported earnings after the bell and it’s a miss on earnings, but another profitable quarter for Elon Musk’s electric vehicle and solar business. Shares were down about 3% after hours. Here are the results, versus what analysts were expecting according to estimates compiled by Refinitiv: Earnings: 80 cents adj. vs $1.03 per share expected Revenue: $10.74
The war between hedge funds and retail investors over shares of GameStop has one logical conclusion, according to executives and traders of a major Wall Street firm. Shares of GameStop, the videogame retailer, have climbed more than 900% since the start of the year after members of a Reddit community called WallStreetBets banded together in
Recognize the photograph above? It adorns walls, computer screens and websites for psychiatrists and financial planners. It’s also on shower curtains, tote bags, maxi dresses, neck gaiters and ruffled bathing suits. Though seemingly too beautiful to be real, the scene depicts an actual place. It’s Arashiyama Bamboo Grove, one of the most famous sites in
A man walks past an AMC theatre amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. Carlo Allegri | Reuters Stocks on Robinhood’s restricted trading list jumped during premarket trading on Friday, after the online brokerage said Thursday evening that it would resume limited
Serhii Shleihel | iStock | Getty Images Here’s what you probably shouldn’t do with that extra money now that you don’t have to pay your student loan bill until October: Sink it all into shares of GameStop. But there are financially sound actions you can take with the additional cash, and you’ll likely thank yourself
With all the drama of the year-end relief bill, many missed the fact that it is part of a large budget law containing a number of tax changes. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 (TCDTRA) is a component of the consolidated appropriations law, and it includes some long-awaited modifications and clarifications.
AFP via Getty Images The biggest story on Wall Street this week hasn’t been the challenging employment numbers or disappointing corporate earnings. Rather it has been the frenzy around Game Stop and the group of investors taking on institutional hedge funds. It is a wild ride that everyone seems to be watching, and it is looking like
Guy Gal, Side co-founder and CEO Side Covid-19 has dealt a punishing if not lethal blow to many industries and small companies over the past 11 months. Among them have been a number of tech startups. A noteworthy exception to that trend has been the success of tech and online real estate brokerages. Perhaps it’s
SINGAPORE — The World Economic Forum’s special annual meeting will only go ahead in May if it can be held in a safe way, Singapore’s minister for trade and industry said on Friday. Vaccines, testing and contact tracing will come into play for that to happen. “Our own working assumption with the World Economic Forum
People wear protective face masks outside McDonald’s in Times Square as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 18, 2020 in New York City. Noam Galai | Getty Images McDonald’s is expected to report its fourth-quarter earnings before the bell on Thursday. Here’s what
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