Eric Audras | PhotoAlto Agency RF Collections | Getty ImagesIf you've poured cash into money market mutual funds, you could see a higher 2023 tax bill in April. But other investments could reduce your 2024 taxes, experts say.Investors and institutions have funneled cash into money market funds amid rising interest...
Category: Wealth
Investors piled cash into money market mutual funds in 2023 and now could see a higher tax bill
JGI/Jamie GrillIf you funneled cash into money market mutual funds in 2023 amid rising interest rates, you may have a surprise tax bill in April, experts say.Investors and institutions have piled $5.84 trillion into money market mutual funds, as of Nov. 29, according to the Investment Company Institute, and many...
Charlie Munger, investing genius and Warren Buffett’s right-hand man, dies at age 99
Billionaire Charlie Munger, the investing sage who made a fortune even before he became Warren Buffett's right-hand man at Berkshire Hathaway, has died at age 99.Munger died Tuesday, according to a press release from Berkshire Hathaway. The conglomerate said it was advised by members of Munger's family that he peacefully...
Pack your jerseys. The era of ‘sports tourism’ is here
Start your engines. From Formula One races to the Summer Olympic Games, traveling to attend major sporting events is on the rise.Sports tourism, as it's called, is one of the fastest-growing sectors in the travel industry, according to the United Nations World Tourism Organization. The market is massive, and only...
This tax-smart charitable donation strategy is like ‘hitting two birds with one stone,’ advisor says
Ольга Носова | Istock | Getty ImagesIf you're retired and giving to charity this season, there's a planning move that can reduce your 2023 taxes while donating to a worthy cause, experts say.The strategy, known as qualified charitable distributions, or QCDs, allows retirees to transfer money from an individual retirement...