Your inherited individual retirement account could trigger a ‘tax bomb,’ advisor says. How to avoid it

Personal finance
Greg Hinsdale | The Image Bank | Getty Images If you’ve inherited a pretax individual retirement account since 2020, you could face a sizable tax bill without proper planning, experts say.  Previously, heirs could take inherited IRA withdrawals over their lifetime, known as the “stretch IRA.” However, the Secure Act of 2019 enacted the “10-year
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China’s ultra-rich population sees ‘dramatic’ growth in last 10 years, outpacing the U.S., report shows

Wealth
Staff members counting RMB cash deposited by customers in China’s Nantong city. Cfoto | Future Publishing | Getty Images The world’s super rich club expanded significantly over the past 10 years, with China leading the charge, according to the latest report from New World Wealth and investment migration advisor Henley & Partners. The number of centimillionaires
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Teens are losing faith in college, giving rise to interest in the skilled trades

Personal finance
Luminola | E+ | Getty Images Four years after the Covid pandemic began, there are more than 900,000 fewer undergraduates enrolled in college. The overall rate of high school graduates choosing to enroll in college held steady in 2023, compared to a year earlier, according to a recent report from the National Student Clearinghouse Research Center — which Doug
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Oregon Measure 118 Is an Aggressive Sales Tax—and Worse

Taxes
Oregon Measure 118 Is an Aggressive Sales Tax—and Worse Skip to content Home • Blog • Oregon Measure 118 Is an Aggressive Sales Tax—and Worse If there’s one thing that unites Oregonians, it’s opposition to sales taxes. Since ratifying a constitutional amendment prohibiting a sales taxA sales tax is levied on retail sales of goods
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Charter rolls out new Spectrum pricing and internet speeds, aims to ‘be a better service operator’

Business
In this article CHTR Follow your favorite stocksCREATE FREE ACCOUNT Christopher L. Winfrey, CEO of Charter Communications. Courtesy: Charter Communications Charter Communications CEO Chris Winfrey said he wants customers to think of reliability and credibility when they think of their cable and broadband provider. The cable giant told CNBC it is unveiling a series of
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Here’s which Navient student loan borrowers may qualify for relief under $120 million settlement

Personal finance
In this article NAVI Follow your favorite stocksCREATE FREE ACCOUNT jetcityimage The Consumer Financial Protection Bureau last week said it had reached a $120 million settlement with student loan giant Navient that could lead to compensation for hundreds of thousands of borrowers. The CFPB accused Navient of steering student loan borrowers into expensive forbearances, miscalculating their
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Boeing freezes hiring in sweeping cost cuts as it grapples with factory worker strike

Business
In this article BA Follow your favorite stocksCREATE FREE ACCOUNT Workers with picket signs outside the Boeing Co. manufacturing facility during a strike in Everett, Washington, US, on Friday, Sept. 13, 2024.  M. Scott Brauer | Bloomberg | Getty Images Boeing announced sweeping cost cuts Monday, including a hiring freeze, a pause on nonessential staff
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This ‘back of the napkin math’ shows whether you could have a surprise tax bill, expert says

Personal finance
Yellow Dog Productions | The Image Bank | Getty Images No one likes a surprise tax bill, and there is still time to take action if you have not paid enough taxes for 2024, experts say.   Generally, employees pay taxes via withholdings from each paycheck. Other income requires quarterly estimated payments. Overpaying typically results in
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