‘Am I crazy?’ I’ve paid my fiancée rent for 9 years and spent $10,000 improving her home. She’s also listed on my health insurance. What should I do?

I have a situation that is causing a lot of issues in my relationship. We have been dating for 17 years, have lived together for close to nine years and have been engaged for six.  When I moved into her house, we agreed I would pay $600 a month in rent. Over the years, I … Read more

Workers in California and Washington State will get more pay transparency

Do you know how much your job is worth? Millions of Americans are finally getting the answer.  On Jan. 1, California and Washington state began requiring employers to include pay ranges with their job listings. The two states follow New York City and Colorado in implementing pay-transparency measures. As of Dec. 4, just 44% of … Read more

Democrats release Trump’s tax returns, and CPAs have questions: ‘In order to generate these kinds of losses, you need to be super rich. It’s not a poor man’s game.’

The nonpartisan committee’s findings also raised several red flags related to the filings, namely Trump’s carryover losses, loans to his children that may or may not also be considered taxable gifts, and deduction-related tax write-offs.  That year, as the COVID pandemic hit, the Trumps reported a loss of $4.8 million. For 2018 and 2019, the … Read more

Auto Maker Stellantis to Stop Work at Illinois Factory

Auto Maker Stellantis to Stop Work at Illinois Factory

‘We’re headed for a family feud’: My father offered his 3 kids equal monetary gifts. My siblings took cash. I took stock. It’s soared in value — now they’re crying foul

Dear Quentin, Several years before my father’s death, he offered me and my two siblings each an early “cash gift” from his estate in the amount of whatever the maximum non-taxable amount was at the time. He was an active investor and offered the gift in the form of the stock instead of cash. My siblings … Read more

Investors may be whistling past the graveyard of a recession with latest rally in stocks

Investors feeling giddy about last week’s sharp rally for stocks might want to give a listen to Tom Waits’ song, “Whistlin’ Past the Graveyard” from 1978, to sober up for the dangers that still lurk ahead. The surge in stocks catapulted the S&P 500 index SPX, +0.92% almost back to the 4,000 mark on Friday, … Read more

IRS releases new federal tax brackets and standard deductions. Here’s how they affect your family’s tax bill.

America’s high inflation rate will produce a 7% increase in the size of the standard deduction when workers file their taxes on their 2023 income, according to new inflation adjustments from the Internal Revenue Service. It’s also going to pump up tax brackets by 7% as well, according to the annual inflation adjustments the IRS … Read more

Social Security’s ‘taxable maximum’ jumps 9%—but will it make a dent in the trust fund?

Social Security’s payroll tax cap was raised nearly 9% for 2023, meaning more income will face Social Security taxes next year, but the rise is unlikely to affect the solvency of the trusts underpinning the system. Citing the increase in average wages, the Social Security Administration said the maximum amount of earnings subject to the … Read more

Finance workers’ cocaine use surges amid burnout crisis: ‘It’s just going up and up’

When Jaime Blaustein was interviewed for his first job at Morgan Stanley in 2012, he was hooked on heroin. Blaustein’s drug use had spiralled throughout his university studies as he moved from drinking alcohol and smoking marijuana to using cocaine, crack cocaine and, eventually, heroin. By the time he graduated, despite five attempts at rehab,…

Fed’s Powell sparked a 1,000-point rout in the Dow. Here’s what investors should do next.

Now might be the time to consider hiding out in short-dated Treasurys or corporate bonds and other defensive parts of the stock market. On Friday, Federal Reserve Chairman Jerome Powell talked of a willingness to inflict “some pain” on households and businesses in an unusually blunt Jackson Hole speech that hinted at a 1970s-style inflation … Read more