The inheritance itself generally was not federal taxable income, thanks to the stepped-up basis rules that usually reset inherited property to its fair market value at the date of death. But any appreciation that occurred after his father’s death can…
By Mike Barrington
· 1:10pm ET At some point, Congress will need to save Social Security, or not. According to the 2025 Trustees Report, the Old-Age and Survivors Insurance (OASI) trust fund will become insolvent by 2033. The…
Douglas A. McIntyre There are several “known knowns” about Social Security. (The term was coined by the Secretary of Defense of the United States, Donald Rumsfeld, in 2002.) Among these is the fact that, according…
Douglas A. McIntyre The cost of living in the United States has rapidly outpaced wage growth in recent years, as the Consumer Price Index soared to multi-decade highs in the last five years. According to…
Sam Stebbins Household incomes vary wildly across American cities, and in nearly every state one metro area pulls far ahead of the rest. Find out whether your city made the cut and how much wealthier its…
In America, there exists a large wealth gap, which is the highest among G7 nations. It has become a popular talking point for politicians such as Bernie Sanders. According to Federal Reserve data (Q4 2023),…
Famous tech analyst Gene Munster, did some simple math. If a new compensation package for founder and CEO Elon Musk can hit $1 trillion over the course of 10 years, Tesla (NASDAQ: TSLA |…
Elon Musk’s net worth has dropped $60 billion this year. However, he is still the world’s richest man according to Bloomberg. His net worth is $372 billion. No. 2 on the list is Larry…
Continued economic development across the world is driving an increase in prosperity and financial security. According to data from the World Bank, global economic output — as measured in current U.S. dollars (USD) —…
Jeff Bezos had to pay for his wedding to Lauren Sanchez which cost as much as $50 million. Since he has sold $5.7 billion in Amazon (NASDAQ: AMZN | TSLA Price Prediction) shares, he…
Scott Coulter, a former high ranking executive at the Social Security Administration, created a plan to save the funds from running out of money as soon as 2032. His plan was rejected, despite some…
The value of privately held rocket company SpaceX rose to $400 billion based on recent stock sales in the private market. The valuation was $350 billion in December. Founder Elon Musk owns 42% of…
