Category: personal finance

Tax Rates Doubled for Pension Fund Accounts With Over $3 Million

February 28, 2023
anthony albaneseAustraliaBusiness & Marketseconomic policiesInternationalJim Chalmerspension fundspersonal financeSuperannuationWorld
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Australians with more than $3 million (US$2.02 million) stowed away in their pension funds (superannuation) will see tax breaks reduced for money over that benchmark under a new Labor government policy announced on Feb. 28. Prime Minister Anthony Albanese and Treasurer Jim Chalmers say the move will affect 0.5 percent of the population—around 80,000 individuals—while…

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Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 27)

February 27, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for April delivery fell 64 cents to $75.68 a barrel Monday. Brent crude for April delivery fell 71 cents to $82.45 a barrel. Wholesale gasoline for March delivery rose 1 cent to $2.37 a gallon. March heating oil rose 2 cents to $2.82 a gallon. April natural gas rose 18 cents…

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Sellers and Accountants Applaud Delayed 1099-K Reporting

February 27, 2023
1099-KBrightForm 1099-Kincomepayment networkspersonal financetaxWealth Management
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A required 1099-K form for services from third-party payment networks has been delayed. A 1099-K will not have to be issued for services over $600. Although there is a top number where they will be issued, in tax year 2022, the lower threshold will not count. Many people, like freelancers and online sellers, use third-party…

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Utility Stocks Are Losing Power

February 25, 2023
Brightinvestingpersonal financestockstocksutilitiesutility stocks
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By Jeffrey R. Kosnett From Kiplinger’s Personal Finance When a stock sector crushes the S&P 500 index by 15 percentage points over a full year, it’s normally cause for euphoria. But utilities, which are both regulated and sensitive to interest rates, are not your typical industry. And that massive 15-point outperformance translates to just a…

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Quarter of Americans Would Use Credit Cards for $1,000 Emergency: Poll

February 25, 2023
Business & Marketscredit card debteconomyemergency fundemergency savingshigh inflationhousehold expensesinflationpersonal financeUSUS News
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A quarter of U.S. citizens would resort to using credit cards when faced with a $1,000 emergency expense, even as credit card interest rates are elevated amid decades-high inflation. When asked how they would pay for a $1,000 emergency, 25 percent of respondents to a Feb. 23 survey by Bankrate replied they would finance the…

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Closing Prices for Crude Oil, Gold and Other Commodities (Feb.24)

February 24, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for April delivery rose 93 cents to $76.32 a barrel Friday. Brent crude for April delivery rose 95 cents to $83.16 a barrel. Wholesale gasoline for March delivery fell 2 cents to $2.36 a gallon. March heating oil rose 9 cents to $2.80 a gallon. March natural gas rose 14 cents…

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IMF Opposes Making Cryptocurrency Legal Tender

February 24, 2023
Business & MarketsCBDCscryptocurrenciescryptocurrencyeconomic policieseconomyIMFInternationalMarketspersonal financeUSWorld
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The International Monetary Fund (IMF) recommended that cryptocurrencies like Bitcoin should not be legal tender, and issued an action plan to member states. The IMF released a nine-point action plan on Feb. 24 on how countries could suppress the popular use of crypto assets. On Feb. 8, the financial agency’s executive board provided guidance to IMF…

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Spending: Don’t Rush to Buy a Sales Item

February 24, 2023
Brightbudgetingdiscountpersonal financeretailers
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By Sandra Block From Kiplinger’s Personal Finance When is a sale not a sale? Most of the time, according to Consumers’ Checkbook, a nonprofit consumer organization. After tracking prices at 25 major retailers over 33 weeks, Consumers’ Checkbook concluded that the same “sale price” was offered more than half the time. Worse, some retailers’ sale…

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Why Are Eggs So Expensive?

February 23, 2023
bird fluBrightbudgetingEggegg pricespersonal finance
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That omelet has become expensive. Buying anything with eggs in it is a considerable monetary investment. So egg prices have been increasing, but chicken prices have remained the same or, in some areas, are decreasing. Eggs, which have always been a low-cost way to eat protein, are expensive. But why are they so pricey, and…

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Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 23)

February 23, 2023
Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for April delivery rose $1.44 to $75.39 a barrel Thursday. Brent crude for April delivery rose $1.61 to $82.21 a barrel. Wholesale gasoline for March delivery rose 4 cents to $2.38 a gallon. March heating oil was unchanged at $2.71 a gallon. March natural gas rose 14 cents to $2.31 per…

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