Market Update | Nov 16
Jon Granston | November 16, 2023
Jon Granston | November 16, 2023
Top Headlines: Delivered by Leonard Steinberg
November 16, 2023
01 Anyone can make a yearly gift to a person of up to $17,000 tax-free, or $34,000 per couple. Parents and grandparents can financially help children in other ways that don’t trigger gift taxes: tuition payments to schools or universities (tax-free).....and also help with down payments on a child’s home without paying gift taxes.
(NY TIMES)
(YAHOO)
03 In the $2 trillion US deficit our spending (besides Social Security, Medicare and Medicaid) and interest payments are almost identical: $169 billion vs. $177 billion!
04 Jeff Bezos just announced a permanent move to Miami - joining his parents who live there already - where he spent much of his youth. He’ll be closer to his Space project. Tax-wise, his move from Seattle mirrors Florida’s in some regards as Washington also does not impose a state income tax. In 2021 Jeff paid a federal tax rate of around 23% on $4 billion-plus in income between 2014 and 2018.....now how can I get that rate?????
05 Dissatisfaction is more likely when money is tighter, a 2022 study in the Journal of Consumer Research found. People feel worse about purchases of both things and experiences and write more negative reviews, researchers found.
This regret often stems from thinking about all the other ways the money could have been used instead.
(ATTOM)