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For Love & Money is a weekly Business Insider column answering relationship and money questions. This week, a reader gave their money to their daughter whom they live with for a down payment. Write to For Love & Money using this Google form. Dear For Love & Money,I gave my daughter and her husband money to put a down payment on a house, but we never discussed whether it was a gift or a loan. At the time, we gave money to our other children rather than leave it to them after we died.

Persons: —, It's, it's, Lay, doesn't Organizations: Service

By hiring an accountant, we'll be able to get the most out of tax season and save for retirement. Short-term capital gains are profits you've made on stock that you've held for one year or less. Long-term capital gains are gains on investments you've held for longer than a year and range from 0% to 20%. What tax rate you'll pay on these gains depends on your taxable income, or what tax bracket you fall into. Little-known tax moves like this are another reason hiring an accountant is worth every penny.

Persons: we'll, —, I've, you've, I'm, Max, doesn't Organizations: Service, IRS

I have many financial goals, so instead of one big savings account, I have one for each goal. Years ago, I heard some advice from a financial influencer that stuck with me: If you have numerous savings goals, set up different savings accounts and give each a name to correspond with their purpose. I opened up six new Capital One 360 Performance Savings accounts in the new year to help me achieve my financial goals. TaxesI'm embarrassed to say that I have never set aside money for taxes in all my years as a freelancer. While I usually had the funds available, peace of mind comes with having a separate savings account to cover taxes.

Persons: —, I've, It's, it's, I'd, haven't, Sam Organizations: Service Locations: homeownership

☆ Opinion: The dangers in leaving TikTok at Beijing’s disposal
▼ + stars: | 2024-03-14 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +8 min

CNN —For many of the 170 million TikTok users in the United States, Wednesday’s vote in the House of Representatives to effectively ban the social media platform is worrisome. That’s just one reason why it’s laughable to hear China’s foreign ministry claim that the TikTok bill would disrupt market operations and undermine investor confidence. Most of the world’s most popular social media apps, incidentally, are banned in China unless they — or their user data — are locally based and thus easily overseen by the government. She has had multiple meetings with legislators and has spoken with Trump about protecting TikTok, according to the Washington Post. The government needs to develop oversight rules for all social media.

Persons: Frida Ghitis, Donald Trump, TikTok, Shou Chew, “, Jack Ma —, Xiao Jianhua, National Intelligence Avril Haines, Trump, ” Trump, ”, Jeff Yass, Kellyanne Conway, Meta’s Mark Zuckerberg Organizations: CNN, Washington Post, Politics, ByteDance, Frida Ghitis CNN, Pew Research, Facebook, Oracle, National Intelligence, Rutgers University, Air Force One, Microsoft, Trump, Citizens United Locations: United States, Washington, Russia, TikTok, Beijing, That’s, China, Israel, Tibet, Hong Kong, USSR

☆ Glastonbury Festival 2024: Dua Lipa, Coldplay and SZA to headline event
▼ + stars: | 2024-03-14 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Dua Lipa, Coldplay and SZA will headline this year’s Glastonbury Festival in June, organizers announced on Thursday. Female artists are dominating the top sets at this year’s festival, with two nights being headlined by women on the iconic Pyramid Stage. “I’ll see you in the beautiful Somerset countryside.”Dua Lipa will make her Pyramid Stage debut as Friday night’s headliner. Yui Mok/PA Wire/PA/AP“FRIDAY NIGHT PYRAMID STAGE HEADLINE!!! Anna Webber/Getty ImagesSince the first ever Glastonbury Festival in 1970, some of music’s most popular acts have made the pilgrimage to Worthy Farm and performed at one of the world’s biggest festivals.

Persons: SZA, Shania Twain, songwriter’s, Coldplay, Yui Mok, “, Boy, Janelle Monáe, Avril Lavigne, Camila Cabello, Anna Webber Organizations: CNN, Dua, Coldplay, Festival, Glastonbury, Twitter Locations: Somerset, England, ” Dua Lipa, Lipa, Worthy

But some smaller, more specialized tax credits and deductions could score you hundreds (or even thousands) of extra dollars back as well. Here's an overview of some overlooked federal and state tax credits that filers often miss. At first glance, this might seem counterintuitive — why wouldn't you deduct state income tax, which is usually a larger sum? AdvertisementEven if your state has an income tax, you may still come ahead by itemizing sales tax instead, depending on your tax profile. The IRS provides tables and tools to calculate if claiming sales tax delivers more savings than claiming income tax.

Persons: You've, filers, it's, you've, doesn't Organizations: IRS, Care Locations: California, Texas, Florida, Nevada

☆ U.S. spy chief 'cannot rule out' that China would use TikTok to influence U.S. elections
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: +1 min

China could use social media app TikTok to influence the 2024 U.S. elections, U.S. Director of National Intelligence Avril Haines told a House of Representatives intelligence committee hearing on Tuesday. China could use social media app TikTok to influence the 2024 U.S. elections, U.S. Director of National Intelligence Avril Haines told a House of Representatives intelligence committee hearing on Tuesday. Asked by Democratic Representative Raja Krishnamoorthi if China's ruling Communist Party, or CCP, would use TikTok to influence the elections, Haines said: "We cannot rule out that the CCP would use it." Krishnamoorthi is also the ranking Democrat on the House select committee on China. The House is due to vote on Wednesday under fast-track rules that require two-thirds of members to vote "yes" for the measure to win passage.

Persons: National Intelligence Avril Haines, Raja Krishnamoorthi, Haines, Mike Gallagher, ByteDance, Joe Biden Organizations: National Intelligence, Democratic, Communist Party, CCP, Republican, Senate Locations: China

I thought it wasn't worthwhile to invest in an estate plan if I didn't have any assets. In the United States, the primary intellectual property categories are patents, trademarks, copyrights, and trade secrets. You can also detail the uses of your intellectual property that are allowed in the future." Since your family might not know the full extent of your intellectual property, Hayes recommended making a list of any intellectual property you might have. "Everyone in today's world has digital assets," Hayes said.

Persons: —, Monique Hayes, Hayes, It's Organizations: Service Locations: United States

☆ US intel chief says she can’t rule out possibility that China will use TikTok to influence 2024 elections
▼ + stars: | 2024-03-12 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +5 min

CNN —US intelligence officials “cannot rule out” the possibility that the Chinese government will use TikTok to influence the 2024 US elections, Director of National Intelligence Avril Haines told lawmakers on Tuesday. “We regularly take action against deceptive behavior, including covert influence networks throughout the world, and have been transparent in reporting them publicly,” a TikTok spokesperson told CNN. China is showing “a higher degree of sophistication in its influence activity,” including by experimenting with generative artificial intelligence, according to the report. The Chinese government routinely denies US allegations of election influence. “Even if Beijing sets limits on these activities, individuals not under its direct supervision may attempt election influence activities they perceive are in line with Beijing’s goals.”

Persons: National Intelligence Avril Haines, Haines, “, ”, TikTok, Christopher Wray, Wray, ByteDance, Moscow’s, Xi Jinping, Joe Biden Organizations: CNN, National Intelligence, Intelligence, U.S, Republican, Facebook, Twitter, Capitol, House Intelligence Committee, Foreign Ministry Locations: China, Russia, Iran, New York, Washington, Los Angeles, U.S, Beijing

Read previewAbout a year ago, I signed up for an American Express checking account. I canceled my American Express Rewards checking account just a year after opening. It came as a shock to me that it wasn't available with an Amex checking account and defeated a large purpose of opening this account. It was hard to deposit and transfer moneyAmerican Express makes it incredibly difficult to fund the Amex Rewards checking account. The APY wasn't competitiveBecause of its limited functionality, I ended up using my Amex Rewards checking account as a sort of savings account.

Persons: —, Bill Organizations: Service, Business, American, Express, American Express, Capital

☆ US intelligence report states Netanyahu’s viability to lead Israel is in jeopardy
▼ + stars: | 2024-03-11 | by ( Katie Bo Lillis | Michael Conte | ) edition.cnn.com time to read: +7 min

CNN —The US intelligence community assesses Israeli Prime Minister Benjamin Netanyahu’s “viability as a leader” to be “in jeopardy,” according to its annual report on the national security threats facing the United States that was presented to Congress on Monday. The intelligence report notes that the Israeli population broadly supports the destruction of Hamas. It offers an around-the-world unclassified snapshot of how the intelligence community views the panoply of national security threats facing the United States. Beijing, according to the report, has more than tripled its export of goods with potential military use to Russia since Moscow launched its invasion of Ukraine in 2022. China has provided “economy and security assistance to Russia’s war in Ukraine through support to Russia’s defense industrial base, including by providing dual-use material and components for weapons,” the report states.

Persons: Benjamin Netanyahu’s, ”, ” Netanyahu, Joe Biden, Biden, Netanyahu, Israel, “, Chris Wray, I’ve, ” Wray, Sen, Mark Warner of, Republican Sen, Jim Risch of, ” Warner, ” Risch, “ I’ve, National Intelligence Avril Haines, Bill Burns, Burns, Ukraine “, you’re, ” Burns Organizations: CNN, ISIS, Hamas, Senate, Congressional, Republican, Warner, Democratic, National Intelligence, CIA Locations: United States, Israel, Gaza, Mark Warner of Virginia, Jim Risch of Idaho, Ukraine, Russia, Beijing, Moscow, China

☆ The 'Katespiracy' is officially getting out of control
▼ + stars: | 2024-03-11 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

Now some people on X, formerly Twitter, have coined a catchall term for all the Kate-related conspiracy theories that have been swirling online — "Katespiracy." AdvertisementAs of press time, Kensington Palace has not publicly responded to allegations that the photos were altered. AdvertisementNone of these conspiracy theories, which range from the mildly plausible to completely outlandish, have been definitively proven. What people do know, however, is what Kensington Palace has been willing to disclose. Kensington Palace did not immediately respond to a request for comment from BI sent outside regular business hours.

Persons: Kensington, Kate Middleton, Kate, —, she's, rince, ike Organizations: Service, Associated Press, Reuters, Agence France, Presse, AP

For Love & Money is a weekly Business Insider column answering relationship and money questions. Write to For Love & Money using this Google form. If you sue the granddaughter after the grandmother helped you in your earlier court case, any goodwill you two share will disappear. That said, if you don't sue, you'll never receive the justice you deserve — not to mention the money you're owed. Write to For Love & Money using this Google form .

Persons: —, I'd, you've, Ben Michael, Michael, Business Insider's, there's, it's, I'm, you'll, didn't Organizations: Service, Business

☆ The US is dropping aid into Gaza. Here’s why that will do little to ease a humanitarian crisis
▼ + stars: | 2024-03-09 | by ( Niamh Kennedy | ) edition.cnn.com time to read: +7 min

CNN —The US has joined several other countries in airdropping aid into Gaza, which is grappling with a humanitarian crisis. But despite this advantage, aid agencies say their drawbacks overwhelmingly outweigh their benefits. “Humanitarian workers always complain that airdrops are good photo opportunities but a lousy way to deliver aid,” Richard Gowan, the International Crisis Group’s UN Director said. Aid agencies have consistently said not enough aid is reaching Gaza. “When countries use airdrops and these maritime piers is usually if not always in situations when you want to deliver humanitarian aid into enemy territory.

Persons: We’ve, ” Richard Gowan, Michael Fakrhi, “, ” Fakrhi, John Kirby, ”, ” Kirby, Mahmoud Shalabi, Shalabi, Abdel Qader Al Sabbah, Kerem Shalom, Michael Fakhri, Israel, Dave Harden, ” Avril Benoît, CNN’s Louis Mian, Sana Noor Haq, Nadeen Ebrahim, Lauren Kent Organizations: CNN, UN, Food Programme, Islamic, “, Crisis, White, Medical Aid, Palestinian, Food, US Aid, Biden, MSF Locations: Gaza, warzones, Afghanistan, Islamic State, Iraq, Beit Lahia, Palestinian, Israel, Kerem, Rafah

Investing apps that encourage you to invest like the rich are focused on active trading. The wealthiest 10% of US households own nearly 67% of the wealth in our stock market, according to data from the Federal Reserve. Investment apps are made for trading, not savingI put investors into two buckets: traders and savers. Most investment apps are designed to make users act like traders: They encourage you to pick individual stocks, trade them frequently and keep a close eye on their performance. Unless you're investing for the thrill of big wins and losses, stop seeking get-rich investment strategies from people who were already rich.

Persons: —, Michael Jordan, Read, Stephen King, Gary Vee, I'm, Rich Organizations: Service, TikTok, Echo Trade, Federal

We can't predict what the Fed will do or how that will impact mortgage rates. Yes, even as high interest rates make buying a home with a mortgage more expensive! On one hand, interest rates may drop so buying a home with a mortgage is more affordable. Or we could say there's still massive demand in the Boston market despite the jump in interest rates. Get the lowest mortgage rate you canPretty obvious advice if you want to get a mortgage now, right?

Persons: —, doesn't Organizations: Service, National, ARM Locations: Boston

Many people leave too much money in their high-yield savings account instead of investing it. Most experts recommend keeping at least three to six months of expenses in a dedicated savings account as an emergency fund. Ideally, these funds are kept in a high-yield savings account that earns enough interest to keep up with inflation and then some. The fact is, interest rates for savings accounts and CDs fluctuate based on market conditions. Get Exclusive Savings with Raisin: Open one of the best savings accounts with a no-fee Raisin account in minutes and spread your savings across an exclusive network of over 30 FDIC-insured banks and NCUA-insured credit unions.

Persons: —, Lawrence, Regina McCann Hess, Hess, Jeff Rose, Will, Shinobu Hindert Organizations: Service, Nasdaq, Vanguard, Fidelity

Then, open separate business checking, business savings, and business credit card accounts to keep your personal and NIL business finances separate. To determine if you need to make quarterly estimated tax payments, consider having a CPA run a tax projection for you. Federal quarterly estimated tax payments typically include federal income taxes and self-employment taxes, which are 15.3% of your net income. State quarterly estimated tax payments vary by state, so check with your tax professional. Plan for multiple state income tax return filingsAs a student-athlete, it is likely that you will earn NIL income in multiple states.

Persons: — Organizations: Student, Service, NCAA, IRS, CPA, Block

For Love & Money is a weekly Business Insider column answering relationship and money questions. This week, a reader feels her boyfriend is taking advantage of her financially. Write to For Love & Money using this Google form. I feel like my boyfriend is taking advantage of me. Write to For Love & Money using this Google form .

Persons: —, I've, I'm, it's, Let's, he's, they've Organizations: Service Locations: dinnertime

As long as my child is under 17, with just a few criteria, I'm eligible for the child tax credit. You're eligible for the child tax credit until your child is 17I didn't know much about the current child tax credit and asked Miller if I was eligible. "If you have a child under the age of 17, you could qualify to receive a child tax credit on your tax return," he said. But since the deadline to file 2023 taxes is April 15, some people have already filed their taxes. "This is similar to what they have done in the past, so there's no need to wait on filing your 2023 taxes."

Persons: hasn't, —, I'm, Paul Miller, Miller Organizations: Service, IRS, Relief, American Families and Workers, Senate

That's why, in the fall of 2019, I decided to purchase a disability insurance plan. Why I bought disability insuranceI've written about disability insurance for years, but never really considered getting a plan myself. How I chose my disability insurance policyThere are two types of disability insurance, short-term and long-term. I bought long-term disability insurance with a 90-day waiting period. There are five states that require employers to provide short-term disability coverage, also known as temporary disability insurance.

Persons: I'm, —, You'd Organizations: Service, Social Security Administration, Social Security, Union Locations: New York

I wondered if ChatGPT would give me good retirement adviceSpeaking of tiresome work, I've spent many years putting off my retirement plan beyond my husband's 401(k). First, I asked Rush and ChatGPT the same question: What are the best retirement strategies for self-employed people? They recommended similar types of accountsRush and ChatGPT had similar suggestions regarding which kinds of retirement savings accounts freelancers should consider. ChatGPT also mentioned determining your risk tolerance and diversifying your investment portfolio accordingly, as well as including healthcare expenses in your retirement plans by contributing to an HSA, and reassessing and adjusting your retirement plans regularly. I'm happy getting retirement advice from a humanBut Rush had a few other suggestions that ChatGPT didn't list in its response to my question.

Persons: ChatGPT, I've, Justin Rush, Rush, it's, they've, doesn't Organizations: Service, Business, Google, IRA

Go beyond financial literacy"Gone are the days that we can hide behind the illusion that more financial literacy is enough," says Rahkim Sabree, AFC, financial therapist and counselor. Currently, 25 states require financial literacy education for students; however, rarely, if ever, does financial literacy address larger systemic issues that exist. Black students owe an average of 188% more than what white students borrowed by the fourth year after graduation. One 2016 study found that if current trends continue, closing the wealth gap would take more than 200 years. AdvertisementYounger Black Americans have now become the fastest-growing demographic of new investors in the stock market.

Persons: —, Martin Luther King, Jr, Moritz Kuhn, Moritz Schularick, Ulrike I, Rahkim Sabree, We've, Kristin Afelumo, Lazetta Rainey Braxton, Braxton Organizations: Service, Business, Federal Reserve Bank of Minneapolis, Black, National Bureau of Economic Research, Economic Policy Institute, AFC, Bureau of Labor Statistics, Netflix, Lazetta, Associates Locations: America, Evanston , Illinois, Black

Read previewRunning a small business is challenging and securing funding is often a major hurdle. Given the high rates of small business failure linked to funding issues, it is apparent that financial preparation is key. I'm a financial planner, and I've identified seven documents that small business owners should have — especially if you need a small business credit card, grant, or a business loan. To ensure your small business is well-prepared to secure funding, it is essential to have the following financial documents in place. 1. Business credit reportUnderstanding and managing your business credit score is essential to secure funding.

Persons: —, I've, Bradstreet, Dun & Bradstreet, DUNS, Experian Organizations: Service, Business, Dun &, Insurance Locations: Dun, Experian

Our experts answer readers' insurance questions and write unbiased product reviews (here's how we assess insurance products). This week, a reader paid half the cost of their brother's funeral out of their own pocket. He had life insurance, with the money going to my mother and my two adult kids. Try saying something like, "I didn't have the chance to prepare for my brother's funeral expenses financially. You weren't wrong to ask, and you certainly weren't wrong to assume your brother's life insurance would cover the funeral costs.

Persons: —, didn't, Dear, what's, I'm, weren't, isn't Organizations: Business, Service Locations: Florida

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