The Internal Revenue Service doesn't consider cryptocurrency to be actual money. But it does consider it to be a valuable asset and if you made dollars on bitcoins and other cryptocurrencies, that money is going to be taxed.On the other hand, following the $1.4 trillion crypto industry drop in value in 2022, if you had substantial losses, as many did, you could get some tax … [Read more...] about The IRS is watching digital ‘assets’
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The party is over for tax credits
The big tax perks after the pandemic are reduced this year. Parents won't be getting checks, but they will still have a (smaller) credit to use against taxes owed. The Child Tax Credit was boosted for the 2021 tax year to $3,600 for children younger than 5 and $3,000 for kids 6 to 17. For the 2022 tax year, the child tax credit will drop to $2,000 for all children 16 and … [Read more...] about The party is over for tax credits
Make yourself a success
To succeed, remember these truths:* Winners are not born, they are made.* The dominant force in your existence is the way you think.* You can create your own reality.* There is some benefit to be had from every adversity.* Each one of your beliefs is a choice.* You are never defeated until you accept defeat as a reality and stop trying.* The only real limitations on what you … [Read more...] about Make yourself a success
Payment app fraud can be a financial disaster
There are lots of ways to get scammed out of money these days, but it is happening frequently with payment apps. Pew Research found that 13 percent of payment app users realized they had sent money to scammers and 11 percent reported that their account had been hacked. Many more have likely been scammed without realizing it. And with authorized transactions, once the money … [Read more...] about Payment app fraud can be a financial disaster
Here’s why diversification is important in investing
Diversify. Diversify. Diversify. Study investing and "diversification" ranks among the most common terms tossed around. Indeed, the first bit of advice many professional investors offer newbies is to diversify their investment portfolio. So what makes diversification such an important concept? Let's dig in. First, diversification means spreading your investments across … [Read more...] about Here’s why diversification is important in investing