Prostock-Studio | Istock | Getty Images When it comes to your 401(k), one of the important decisions you need to make is whether to make pretax or Roth contributions. However, experts say that this choice can be complicated. Pretax 401(k) contributions can lower your adjusted gross income, but you will owe taxes on the growth …
Are you willing to entertain the idea that New York City is caught in an “urban doom cycle”? It may seem plausible if you ignore the undeniable facts. Let’s consider the metric of “major crimes” used by the NYPD, which is skewed due to the surge in auto thefts, while the crimes that truly frighten …
Billionaire Elon Musk strongly criticized President Biden’s recent proposal to increase taxes on the wealthiest Americans, suggesting that the president would not want to upset his wealthy campaign donors. Musk expressed his agreement with the idea of making complex tax-avoidance schemes illegal but doubted that any action would be taken due to political considerations. He …
Hunter Biden, the son of President Joe Biden, has reached an agreement to plead guilty to two federal misdemeanor offenses of willfully failing to pay federal income taxes, according to a court filing on Tuesday. Additionally, Hunter Biden has also agreed to enter into a pretrial diversion agreement related to a federal felony charge of …
Florida’s popularity as a destination for transplants has caused a significant increase in housing prices, which has diminished the state’s reputation for affordability. According to RealtyHop Housing’s May affordability index, Miami now holds the title for the least affordable housing market in the United States. The median price for a home in Miami is a …
A recent study by financial information provider SmartAsset has found that high-earning residents of New York City could save nearly $200,000 by leaving the city’s expensive taxes and rents behind and moving to Miami’s sunny beaches. According to the study, Manhattan residents earning $650,000 a year could save $195,000 due to Florida’s lack of state …
Meta Platforms, the parent company of Facebook, is warning California users that they will no longer be able to share news on their platforms if the California Journalism Preservation Act is passed. The proposed act requires online platforms to pay fees to news publishers. The bill would require Meta Platforms to pay usage fees to …
A recent study by SmartAsset has found that high-income earners across the US are flocking to Miami, drawn by the city’s lucrative tax incentives and moderate cost of living. However, depending on where you’re moving from, relocation to the Magic City may not be the financially sensible choice. SmartAsset utilized federal, state and local tax, …
