bymuratdeniz | iStock | Getty Images That early withdrawal from your retirement account last year may have been a life saver. Now, it’s time to start paying the taxman. Most retirement savers did not take a distribution under legislation that authorized penalty-free early withdrawals amid the pandemic. However, for those who did, the majority (69%)
Month: April 2021
An RS1 rocket booster undergoes acceptance testing. ABL Space Rocket builder ABL Space signed a long-term agreement for multiple launches with Lockheed Martin, agreeing to provide the defense giant with as many as 58 rockets through the end of the decade. Lockheed Martin will buy up to 26 of ABL’s RS1 rockets through 2025, with
David Solomon, the CEO of Goldman Sachs, speaks during the Bloomberg Global Business Forum in New York, September 25, 2019. Shannon Stapleton | Reuters Goldman Sachs, Starbucks and a range of other organizations across the U.S. announced Tuesday a collaborative effort aimed at narrowing the racial wealth gap between Black and white Americans. The initiative,
JGI | Getty Images The IRS is automatically recalculating and refunding money to Americans who filed their tax returns without claiming a new tax break on unemployment benefits. However, taxpayers will have to file an amended tax return, in some cases, to get their maximum refund. That situation applies to people who, thanks to the
As the U.S. continues to increase the pace of its vaccination campaign, now averaging more than 3 million shots per day, those in the most vulnerable age group are leading the way. About 75% of Americans 65 and older have received at least one shot, according to Centers for Disease Control and Prevention Data, and
In this article IRSA3-AR Getty Images This year’s tax season has brought with it a new opportunity to collect any unpaid funds from previous rounds of federal stimulus checks. But the amount you claim could be adjusted by the IRS, the agency said on Monday. A new feature called a recovery rebate credit enables people
Jim McGuire | Getty Images When faced with a quiz on Social Security claiming rules, many people who are on the brink of retirement fail. MassMutual recently gave a 12-question true/false quiz to 1,500 people ages 55 to 65 who have not yet claimed their benefits. Just 3% of the respondents were able to answer
Tom Lee said Monday he expects the stock market’s strong start to April to continue throughout the month as part of what he’s previously dubbed a “face-ripper rally.” The co-founder of Fundstrat Global Advisors made his case in an interview on CNBC’s “Fast Money,” following the S&P 500‘s 1.4% gain Monday to notch a record close
Investors may want to avoid playing favorites. Art Hogan of National Securities said Monday that owning equal amounts of growth and cyclical stocks will produce major advantages as stocks break out. “Nothing is going to be binary this year,” the firm’s chief market strategist told CNBC’s “Trading Nation.” “Having a balance between those two and
In this article FB Corporate boards have an opportunity to diversify leadership ranks in the coming years, said Ken Taylor, head of executive search platform Director Search. Taylor estimated that about 45,000 executive searches will need to be conducted within the next five years as many directors are expected to retire. This could open a
Gamestop sparked a frenzy on Reddit that lit up TikTok. The dizzying rally for the game retailer’s stock that followed helped establish social media as one of the most popular sources for financial information, tips and advice, particularly among Gen Z, according to a new CreditCards.com report — second only to friends and family for the
John Smith | Corbis News | Getty Images Shares of GameStop tumbled by double digits on Monday after the video game retailer said it may sell up to $1 billion worth of additional shares following a historic Reddit-fueled short squeeze. GameStop saw its stock drop more than 10% to around $171 apiece after announcing a stock offering
In this article An empty court and bench is shown following the scheduled start time in Game Five of the Eastern Conference First Round between the Milwaukee Bucks and the Orlando Magic during the 2020 NBA Playoffs at AdventHealth Arena at ESPN Wide World Of Sports Complex on August 26, 2020 in Lake Buena Vista,
US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31, 2021. Jim Watson | AFP | Getty Images President Joe Biden has requested that Education Secretary Miguel Cardona prepare a report on the president’s legal authority to cancel up to $50,000 in student debt per borrower, White House chief of staff Ron Klain said
Traders on the floor of the New York Stock Exchange. Source: CNBC Stock futures climbed in overnight trading on Sunday as investors cheered a strong bounce in U.S. job growth last month amid accelerating vaccine rollout. Futures on the Dow Jones Industrial Average jumped 200 points. S&P 500 futures rose 0.4% and Nasdaq 100 futures
South Asia is facing a wake up call as it trails the world in its efforts to address the gender gap, one expert told CNBC. The World Economic Forum predicts it could now take 195 years to reach gender equality in the region — 59 years more than the global average. Businesses have a major
In this article TVAG-FF Drazen_ | E+ | Getty Images Now that spring has sprung and it looks as if an end to the pandemic might be in sight, many Americans are again planning vacations — and they’re booking beach destinations in a big way, says Trivago. The online global accommodations platform, based in Dusseldorf,
Sanjay Mehrota, CEO, Micron Scott Mlyn | CNBC With focus locked in on the emergence from the pandemic, there is still plenty of uncertainty lingering on Wall Street. So, how can exciting investment opportunities be found? By following the latest stock recommendations from the analysts that consistently get it right. TipRanks’ analyst forecasting service attempts
In the mid-1990s, just before the dot-com bubble, Mark Cuban was approached by a friend about a business idea. As a fellow sports fan, his friend, Todd Wagner, pitched Cuban that it would be lucrative to start an internet audio company where users could listen to sports games online. Sold on the possibilities, Cuban agreed,
In this article MU QS VOW3-DE WING GES In this photo illustration the QuantumScape logo is seen on a smartphone and a pc screen. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images Check out the companies making headlines after the bell on Wednesday: Micron – Shares of the chipmaker rose 2.3% after the
In this article IEP Carl Icahn speaking at Delivering Alpha in New York on Sept. 13, 2016. David A. Grogan | CNBC Carl Icahn has named former General Electric executive Aris Kekedjian to take the helm at his namesake investment firm, Icahn Enterprises, the billionaire businessman told The Wall Street Journal in an interview published
Morsa Images | E+ | Getty Images A new set of $1,400 stimulus checks may tempt some recipients who don’t really need the money to instead dabble in the stock market. Depending on your goals, a brokerage account may not be your best bet, some experts say. A third round of direct payments was authorized
In this article VIACP TME 9888-HK VIPS DISCA CSG.N-CH 8604.T-JP A massive margin call affected a little-known family office last Friday, incurring billions of dollars in losses for certain banks involved and jolted the overall volatility in the broader market. Archegos Capital Management’s leveraged bets in ViacomCBS blew up and ignited a whopping $20 billion wave
In this article VIACP DISCA Family offices have grown in the U.S., but that segment remains lightly regulated — and that could be a problem for the financial industry, warned a former counsel at the Securities and Exchanges Commission. The risks posed by large family offices came under the spotlight after the multibillion-dollar Archegos Capital
Larry Wiggins is given the Moderna coronavirus (COVID-19) vaccine by Anya Harris at Red Hook Neighborhood Senior Center in the Red Hood neighborhood of the Brooklyn borough on February 22, 2021 in New York City. Michael M. Santiago | Getty Images The U.S. reported on Saturday another daily record of new Covid vaccine doses administered,
In this article ESGEX IPX-GB US President Joe Biden speaks in Pittsburgh, Pennsylvania, on March 31, 2021. Jim Watson | AFP | Getty Images President Joe Biden’s infrastructure initiative — and the measures it contains to curb climate change — may be a tailwind for investors in so-called sustainable or ESG funds, according to financial
In this article BA TRMB DE 9988-HK 9618-HK SPCE LMT LHX KTOS IRDM ARKX NFLX A SpaceX Falcon 9 rocket carries 10 Iridium NEXT satellites into orbit. mdesigner125 | iStock Editorial | Getty Images Trading in the new space exploration ETF from Ark Invest began on Tuesday, as Cathie Wood’s firm looks to tap the
kate_sept2004 | E+ | Getty Images Many Americans will pocket some extra money this year and next courtesy of changes the American Rescue Plan made to a handful of tax credits. The $1.9 trillion Covid relief measure tweaked the child tax credit, earned income credit, and child and dependent care credit. The changes, especially those
The Matthew McConaughey advice-giving role that seems most made for CNBC is his turn in “The Wolf of Wall Street” as broker and salesman Mark Hanna, and his “Fugazi” speech to the Leonardo DiCaprio incarnation of real-life “Wolf” Jordan Belfort. In the film, “Fugayzi, fugazi. It’s a whazy. It’s a woozie. It’s fairy dust,” is
urbazon | E+ | Getty Images A big wad of debt owed to the IRS can be a soul-crushing burden, but the worst thing you can do is to ignore the issue. It will not go away. “It depends on the level of debt you have, but it can be overwhelming,” said Beverly Winstead, a