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Monthly Archives: December 2022

Singapore to raise goods and services tax in January

Singapore’s goods and services tax will be raised to 8% in January 2023. Ore Huiying | Bloomberg | Getty Images Come Jan. 1, Singapore will raise its goods and services tax, otherwise known as the GST, from 7% to 8%. It’s the first of two scheduled hikes of the GST, …

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Elon Musk tells Tesla employees to ignore stock market craziness

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, June 13, 2019. Mike Blake | Reuters After shares of Tesla dipped by more than 10% on Tuesday deepening a year-long selloff, …

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Why carrying holiday debt can be especially troubling this year

Pedestrians view the holiday windows at a store in New York on Dec. 2, 2021. Christopher Occhicone | Bloomberg | Getty Images High inflation and rising interest rates mean holiday shoppers who turned to credit cards and other methods of borrowing are left with bigger balances this year. Slightly more …

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Who will lose out most if student loan forgiveness falls through

Daniel De La Hoz | Istock | Getty Images Low- and middle-income individuals According to an analysis by the White House, 87% of the dollars forgiven under its plan would go to those making less than $75,000 a year. Meanwhile, any individuals earning more than $125,000 would be excluded from …

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FTX used $200 million of customer funds for two venture investments

FTX founder Sam Bankman-Fried leaves following his arraignment in New York City on December 22, 2022. Ed Jones | AFP | Getty Images Of the billions of dollars in customer deposits that disappeared from FTX in a flash, $200 million was used to fund investments in two companies, according to …

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Payments from Equifax settlement over 2017 data breach are going out

Bloomberg | Bloomberg | Getty Images More than 147 million people’s data was compromised In the wake of Equifax’s 2017 data breach, which compromised the personal information of more than 147 million consumers — including names, birthdates and Social Security numbers — the company became the target of multiple lawsuits …

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Spending bill may halt abuse of tax incentives for land conservation

The $1.7 trillion federal spending bill includes a new change that will curb the abuse of tax incentives for land conservation. Pictured, Montana. Mike Kemp | In Pictures Ltd. | Corbis Historical | Getty Images The $1.7 trillion federal spending bill includes a change designed to curb the abuse of …

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‘Top Gun’ to ‘Avatar’, these are the highest-grossing movies of 2022

“Avatar: The Way of Water” has made over $1 billion in ticket sales in just two weeks. James Cameron’s blockbuster, the sequel to the highest-grossing movie of all time, joins “Jurassic World: Dominion” as a 10-figure earner this year and may depose Tom Cruise’s “Top Gun: Maverick” as the highest-grossing …

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‘Avatar’ sequel box office tops $1 billion despite Covid in China

Avatar: The Way of Water Courtesy: Disney Co.  James Cameron’s “Avatar: The Way of Water” has passed the billion-dollar mark at the global box office, but sluggish sales in China could weigh on the film’s final haul. Worldwide ticket sales for the Disney film now stand at $1.03 billion, the …

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Avoiding individual retirement account early withdrawal tax penalties

Integrity Pictures Inc | The Image Bank | Getty Images Retirement accounts are a tax-advantaged way to build your nest egg — but tapping them too soon typically comes with a penalty. However, the tax code waives that penalty in some circumstances. And federal lawmakers are about to add a …

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