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☆ I worked on cruises for 3 years and now frequently sail as a passenger. Here are the 10 things I do on every trip.
▼ + stars: | 2024-11-27 | by ( Tammy Barr | ) www.businessinsider.com time to read: +5 min

I spent three years working on cruise ships. Here are the 10 things I always do while cruising to have the best trip possible. Depending on what time I get on the ship, my cabin and luggage may not be available for several hours. Frequent walks on the promenade deck are often a highlight of my tripYou can see some wonderful views from a cruise ship. Lastly, I always lean into themed parties and eventsMany cruise ships have themed events or nights, and I love looking them up in advance so I can prepare my outfits.

Persons: I've, You'll, I'd, It's, we're, we'll, Tammy Barr Locations: Paris, Berlin, Rome, Civitavecchia

If the IRS has questions about your tax returns or wants to perform an audit, you'll probably be asked to produce your tax records. But of course, it is absolutely not recommended that you skip tax filing or intentionally commit fraud on your tax return. Employment tax recordsBusinesses should keep employment tax records, or payroll records, for at least four years after the last completed tax filing. Tips for organizing and storing recordsThe IRS clearly outlines the guidelines around how long you should keep your tax records. When you're ready to get rid of financial documents or tax records, shredding is the best method.

Persons: you've, Tom Taulli, filers, you'll, Matthew Jenkins, Tanza, Morgan, Read Organizations: Internal Revenue Service, IRS, CFA, CFP, Noble, Finance, Morgan Stanley Wealth Management, Fidelity, BI, Elon University Locations: TheStreet

☆ 'Suits' actor Patrick J. Adams said his mom helped him confirm that it was time to quit and focus on family
▼ + stars: | 2024-11-27 | by ( Erin Liam | ) www.businessinsider.com time to read: +4 min

AdvertisementPatrick J. Adams left "Suits" after realizing he only stayed for the money. Patrick J. Adams knew it was time to leave "Suits" after a conversation with his mom. While Adams left the show after the seventh season in 2018, Gabriel Macht, who plays Harvey Spector, stayed on for the final two seasons. AdvertisementFirst released in 2011, "Suits" experienced a resurgence in popularity after being rereleased on streaming platforms like Netflix. AdvertisementSimilarly, Ashley Tan left her job as a JP Morgan analyst after feeling like she was wasting her life.

Persons: Patrick J, Adams, Troian, Jesse Tyler Ferguson, Mike Ross, Meghan Markle, You've, Gabriel Macht, Harvey Spector, Gabriel, Bellisario, I'd, Aaron Korsh, Macht, AJ Eckstein, Ashley Tan, It's Organizations: Canadian -, Harvard Law, Netflix, Nielsen, Business Insider Locations: Canadian - American, Toronto

☆ The shipping industry is wrestling with one of its largest challenges
▼ + stars: | 2024-11-27 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +5 min

Anthony Wallace | Afp | Getty ImagesThe shipping industry is contending with a worldwide shortage of seafarers, and it's fueling a troubling mix of fake resumes, accidents at sea, and elevated freight rates. "We have been seeing a consistent shortage of seafarers," Rhett Harris, senior manning analyst at Drewry, told CNBC. The Philippines, China, Russia, Ukraine and Indonesia are the largest suppliers of the world's seafarers, according to the most recent seafarer workforce breakdown report by the International Chamber of Shipping (ICS) and BIMCO in 2021. Before Russia's invasion of Ukraine in February 2022, Russian and Ukrainian seafarers made up almost 15% of the global shipping workforce, ICS data showed. "Policymakers need to create national strategies to address the seafarer shortage," the shipping organization said.

Persons: Anthony Wallace, Rhett Harris, Harris, Daejin Lee, Henrik Jensen, Danica Crewing, FertiStream's Lee, Drewry's Harris, Jensen, Caitlin Ochs Organizations: Afp, Getty, Drewry, CNBC, International Chamber of Shipping, ICS, Group, —, CVs Locations: Busan, Russian, Ukraine, Russia, Philippines, China, Indonesia, Iran, Red, New York

☆ The world reacts to Donald Trump's latest trade plans
▼ + stars: | 2024-11-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, the world reacts to Donald Trump's latest trade plans , which could be a massive negotiation tactic . Michael M. Santiago/Getty ImagesThe man who dubbed himself a master negotiator is upending the global trade market with his latest tactic. AdvertisementThe world is reacting to President-elect Donald Trump's new trade proposals targeting China, Mexico, and Canada. There's a lot to unpack, so let's break it down:So, Trump finally gave us an update on his tariff plans. He's telegraphed his plans for hammering Chinese imports, but a 25% tax on Canadian and Mexican goods was a shock.

Persons: Donald Trump's, Trump, Michael M, He's, Will, Justin Trudeau, Claudia Sheinbaum's, Jenny Chang, Rodriguez, Goldman, Scott Wren, Wells Fargo's, They've, Elon Musk's, Omead Afshar, Afshar, Prince Williams, Bill Clark, Astrida Valigorsky, Alyssa Powell, Kendrick Lamar, Drake, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Affordable, Canadian, Trump, US, Companies, Getty, JPMorgan, Deutsche Bank, BI, Tesla, North, Spotify, Universal Music, Wall Street Locations: China, Russia, Mexico, Canada, Canada's, East, New York, Chicago, London

☆ 56% of Americans say their parents never discussed money with them. How experts recommend getting the conversation started
▼ + stars: | 2024-11-27 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

As families gather for Thanksgiving this year, money is one topic that likely won't be discussed. Yet experts say it's a perfect time to start the conversation, particularly with aging parents. More than half of Americans — 56% — say their parents never discussed money with them, according to a recent Fidelity survey of 1,900 adults ages 18 and up. For the wealth they do have, most Americans say they accumulated it on their own, with 80% identifying as self-made and only 5% saying they inherited it, Fidelity found. 1 sign of successYet experts say that not having a plan in place can leave individuals and their families vulnerable when unexpected events happen.

Persons: —, David Peterson, Peterson, Warren Buffett, MaryAnne Gucciardi, Gucciardi, there's Organizations: Fidelity, Finance Locations: Cambridge , Massachusetts

☆ 'Moana 2' has a dramatic ending with a big twist. Here's what it means for the future of the franchise.
▼ + stars: | 2024-11-27 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +3 min

It has big implications for the future of the franchise, including a possible "Moana 3." "Moana 2" follows the titular hero on another adventure at sea, and it concludes with a thrilling ending. And, of course, there's the demigod Maui (Dwayne Johnson), who, by the end of the movie, teams up with Moana. Still under the thumb of Nalo, the mid-credit scene teases that Matangi will be helping Nalo as the god sets out to take on Moana. The scene also teases the return of Tamatoa, the enormous singing crab from the first "Moana" movie.

Persons: Nalo, Loto, Moni, Kele, Maui, Dwayne Johnson, It's, Moana, Motufetu, Disney hasn't Organizations: Disney Locations: Motufetu, Moana, Maui

Some of the very best menswear deals include sitewide sales at Bonobos, Todd Snyder, and Everlane. You'll also find iconic brands like Ralph Lauren, Timberland, and The North Face with deep discounts on a wide range of items. The best Black Friday deals on shirts, sweaters, hoodies, and blazersThis Black Friday, we're seeing amazing deals on all sorts of tops. Additionally, you'll find many deals on the best men's jeans from brands like Todd Snyder, Abercrombie, and Levi's. View at BonobosBonobos Gramercy Premium Jeans $104.30 $149.00 Save 30% Yes, Bonobos does jeans as well as they do chinos.

Persons: There's, Todd Snyder, You'll, Ralph Lauren, Timberland, Tommy John's, Bonobos, Todd Snyder Ralph Lauren Polo, Ralph Lauren Polo Bear, Ralph Lauren Ralph Lauren, Ralph Lauren Ralph Lauren Big, Lauren, Ralph Lauren Ralph Lauren Loopback, Ralph Lauren Bonobos, you'll, Abercrombie, Fitch, Jean, Amir Ismael, We've, Todd Snyder Todd Snyder, Allbirds Organizations: Business, Todd Snyder Luxe, Montauk Polo, Fleece, Black, Abercrombie, Abercrombie & Fitch, Chino, luxe, Adidas, Nike, Tree Locations: chino, Columbia

☆ A Gen Zer who used AI to apply for hundreds of roles says it helped him land a job
▼ + stars: | 2024-11-27 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

AdvertisementA 28-year-old used an AI tool called AIHawk to apply for hundreds of jobs on LinkedIn. Using AI tools during the application process comes with risks. AIHawk automates the application process for LinkedIn's easy-apply jobs — which pulls info from a user's profile to fill in an application. AIHawk is one of many AI job application tools on the market. Did an AI job tool help you land a job recently?

Persons: AIHawk, Guilherme, Federico Elia, I'd Organizations: LinkedIn, Business Locations: Brazil

☆ A Biden-brokered cease-fire has begun in Lebanon. Trump's team is claiming credit.
▼ + stars: | 2024-11-27 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +3 min

"Everyone is coming to the table because of President Trump," said Florida Rep. Mike Waltz. Donald Trump's team has claimed credit for the cease-fire deal between Israel and Hezbollah, which took effect in Lebanon on Wednesday morning. Mike Waltz, the President-elect's national security advisor, posted on X that "everyone is coming to the table because of President Trump." AdvertisementAccording to the Associated Press, a senior Biden administration official said that Trump's team was kept informed about negotiations as they unfolded. The official added that the incoming Trump team was not directly involved in the talks.

Persons: President Trump, Mike Waltz, Trump, Donald Trump's, Joe Biden, Richard Goldberg, Goldberg, Benjamin Netanyahu, Biden, Vance, Marco Rubio, Pete Hegseth, Tulsi Gabbard, John Ratcliffe Organizations: Israel, Florida, Lebanese, Associated Press, Biden, Trump, Washington, Foundation, Defense of Democracies, AP, The Times, World Bank Group, Business, White Locations: Gaza, Israel, Lebanon, Iran

☆ Generative AI's hype has yet to lead to a must-have gadget for the holiday season
▼ + stars: | 2024-11-27 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

Generative artificial intelligence has taken Silicon Valley by storm since the launch of OpenAI's ChatGPT chatbot in November 2022. There was a lot of optimism over the potential of GenAI gadgets at the CES trade show in January, said Paul Gagnon, vice president for analyst firm Circana. Additionally, consumers may find current GenAI devices too expensive, and they may be confused about what the devices can actually do, he said. The reality is that while GenAI has captivated Silicon Valley, it's still "inning zero" in regard to widespread adoption, Bajarin said. Despite Silicon Valley not having a breakout year for GenAI hardware, here are a few GenAI devices early adopters can buy.

Persons: chatbot, Paul Gagnon, Gagnon, we've, — there's, hasn't, Ben Bajarin, Ray, Bajarin, Ryan Reith, Reith, GenAI, Steve Koenig Organizations: Nvidia, CES, Creative, Microsoft, Apple, Intel, Dell, Lenovo, IDC, Consumer Technology Association Locations: Silicon

Still, the best cashmere sweaters can set you back hundreds of dollars a piece, so we recommend taking advantage of seasonal discounted pricing. The best Black Friday cashmere dealsAmicale Cashmere Hoodie $134.99 $350.00 Save 61% Upgrade your hoodie with this 100% cashmere pullover available in four hues. View at Saks Off FifthFAQs on Black Friday cashmere dealsIs Black Friday a good time to shop for cashmere? Black Friday is one of the best times to shop for cashmere since discounts can reach upwards of 50% on luxury items. Check out our roundup of all of the best Black Friday deals.

Persons: Gabrielle Chase, There's Organizations: Business, Saks Locations: TURKEY

☆ Marc Andreessen talks DOGE and Elon Musk: 'It's time to carve this government back in size and scope'
▼ + stars: | 2024-11-27 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

AdvertisementMarc Andreessen discussed Elon Musk and the Department of Government Efficiency on Joe Rogan's podcast. Cut, baby, cut, Marc Andreessen says of Elon Musk's DOGE cost-reduction effort. "It is time to carve this government back in size and scope," the Silicon Valley investor said during a recent appearance on Joe Rogan's podcast. The VC specifically referenced a text exchange that Musk sent then-CEO Parag Agrawal shortly after being appointed to Twitter's board. "Imagine that statement being applied to the government," Andreessen said, referencing Musk's "What did you get done this week?"

Persons: Marc Andreessen, Elon Musk, Joe Rogan's, Elon, Andreessen, Andreessen Horowitz, Ben Horowitz, Sen, Elizabeth Warren, Rogan, Musk, Parag Agrawal, Agrawal, Jack Dorsey, … — Organizations: Department of, SEC, FTC, Elon Musk's, Musk's Department, Government, Securities Exchange Commission, Federal Trade Commission, Federal Aviation Administration, Consumer Financial Protection Bureau, Republican Party, Twitter, Big Tech Locations: Silicon

☆ Bitcoin bounces back above $95,000 as investors eye $100,000 milestone heading into Thanksgiving holiday
▼ + stars: | 2024-11-27 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin on Wednesday climbed back above $95,000, recovering slightly from a pullback this week that knocked it from record levels. The broader crypto market, as measured by the CoinDesk 20 index, gained 5%. Although bitcoin is widely viewed as a store of value and a digital alternative to gold, the cryptocurrency often trades in tandem with the stock market. "The bitcoin bull market has legs," Alex Thorn, head of firmwide research at Galaxy Digital, said in a report Wednesday. Bitcoin is up 124% for the year and is still widely expected to reach the $100,000 milestone before the year is over.

Persons: Bitcoin, cryptocurrency, bitcoin, Coinbase, Trump, Alex Thorn, Biden, Katie Stockton, CNBC's, … Organizations: Wednesday, Metrics, Nasdaq, Dow Jones Industrial, Galaxy Digital Locations: U.S

☆ Goldman Sachs Asset Management is fired up about the economy heading into 2025 — but serious risks are still lurking under the surface
▼ + stars: | 2024-11-27 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

AdvertisementThe global economic expansion will continue into 2025, according to Goldman Sachs Asset Management. "But it's all a give and take here, because we're also going to be seeing a lot of efficiencies come into the labor market, potentially." GSAM strategists aren't sweating about the labor market yet, but they're watching those trends closely. Despite their lofty valuations, GSAM isn't bailing on US equities. That may finally change in 2025 as China's government gets serious about economic stimulus, Wilson-Elizondo said.

Persons: Alexandra Wilson, Elizondo, Goldman, Trump's, Wilson, We're, we're, corporates —, it's, aren't, isn't, GSAM Organizations: Goldman Sachs Asset Management, Management, Trump, Companies, Goldman, Wilson

☆ Gold trades in tight range ahead of US inflation data
▼ + stars: | 2024-11-27 | by ( ) www.cnbc.com time to read: +2 min

Gold prices flitted within a narrow range on Wednesday as investors awaited key U.S. inflation data for insights into the potential scale of a Federal Reserve rate cut next month. Spot gold was steady at $2,635.56 per ounce, as of 0222 GMT, moving largely within a slim $9 range during the session. Gold is traditionally considered a safe-haven investment during periods of economic and geopolitical uncertainty, including trade wars and other conflicts. Investors digested a handful of economic data on Tuesday indicating the economy remained on solid footing. Elsewhere, China's net gold imports via Hong Kong in October fell from September and were down 43% from the previous year, data showed.

Persons: Bullion, Kyle Rodda, Rodda Organizations: Federal, Capital.com, Federal Reserve, U.S . Federal Reserve Locations: ., Israel, Lebanon, Capital.com . U.S, France, Iran, Hong Kong

☆ I started a business where I got paid to play 'Dungeons & Dragons' with people. 3 years later, we run 180 games a month at our main studio, and I'm living the nerdworld dream.
▼ + stars: | 2024-11-27 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +5 min

Inspired by Critical Role, Najid and his partners opened a studio for paid D&D games in 2021. We began to get more bookings, and the single-room studio space wasn't enough. AdvertisementSetting up a proper studio space, too, has improved the player experience. There's also a community space outside our main studio, where people can hang out before and after their "D&D" games. Right now, I still run games — but I've limited it to a yearlong campaign for a small group of players.

Persons: Farez Najid, Najid, Shou Zi Chew, I'd, Cheryl Teh, Jodie Yeo, Dennet Krishnan, prepped, There's, We've Locations: Singapore

☆ Jim Cramer defends cryptocurrency support: 'National debt worries are never going to go away'
▼ + stars: | 2024-11-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Tuesday defended his stance on cryptocurrency, saying he endorses owning some as a hedge against government spending and a ballooning deficit, as "national debt worries are never going to go away." Some on Wall Street believe that due to cryptocurrency's fixed supply, it will be a solid asset in the event that continued excessive federal spending — and a widening U.S. national debt — devalues the dollar. However, he acknowledged that cryptocurrency is also fairly new and doesn't yet have a proven track record. Cramer expressed skepticism that the government will be able to solve the debt issue any time soon. "I think bitcoin, ethereum and maybe even some other cryptocurrencies deserve a spot in your portfolio, too," Cramer said.

Persons: CNBC's Jim Cramer, I've, —, Cramer, cryptocurrency

☆ Wall Street is bullish on sports investing as major leagues' values outpace the S&P 500 by up to 5 times. Here's the strategy and sectors top firms are betting on.
▼ + stars: | 2024-11-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

AdvertisementFormula 1 kicked off the trend in 2006 after allowing private equity firm CVC Capital Partners to purchase it. Then, in 2021, the NBA allowed private equity to own up to 20% of franchises. For example, the value of Major League Soccer (MLS) was up by 1,565%, or almost five times the index. "You've seen many large private equity firms participating in that space over the past five years or longer, and that certainly has seen significant valuation growth. Below is a table from JPMorgan's 2025 outlook report showing private equity funds planned investment themes.

Persons: David Tepper, Steve Cohen, Jay Serpe, Ted Yarbrough, Serpe, You've, JP Morgan, Yarbrough Organizations: Sports, Carolina Panthers, New York Mets, Capital Partners, NBA, JPMorgan Private Bank, Major League Soccer

☆ Tish Cyrus-Purcell says her divorce from Billy Ray Cyrus was 'tough on everyone' — even her adult kids
▼ + stars: | 2024-11-26 | by ( Amanda Goh | ) www.businessinsider.com time to read: +5 min

AdvertisementTish Cyrus-Purcell says her divorce from Billy Ray Cyrus was difficult even for her kids, who are now adults. "For me, I never wanted to be divorced," Cyrus-Purcell said on a podcast. Tish Cyrus-Purcell says she wanted her marriage to Billy Ray Cyrus to end. Cyrus-Purcell has three kids — Miley, Braison, and Noah — with Cyrus. And a parental divorce can leave adult kids feeling "like that last security blanket is being ripped out from under them," Sussman said.

Persons: Tish Cyrus, Purcell, Billy Ray Cyrus, Cyrus, Kate Hudson, Oliver Hudson, — Miley, Braison, Noah —, Brandi, Dominic Purcell, he'll, Brandi —, —, Noah, Hudson, Susan Moss, Moss, it's, " Moss, Rachel Sussman, " Sussman, Sussman, Gabby Landsverk Organizations: Business, CDC Locations: NYC

☆ How Bluesky rose out of Twitter's ashes to challenge X and Threads
▼ + stars: | 2024-11-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +10 min

And while these larger social media platforms still dwarf Bluesky, the startup now has more than 22 million users and is not showing any signs of slowing down. Bluesky had experienced a previous surge in July 2023 after X, then still named Twitter, temporarily limited the number of posts users could read per day. Just days before Musk officially took over Twitter, the Bluesky team publicly unveiled more details about their project and rolled out a waitlist for the Bluesky app. Despite Bluesky starting as a side project within Twitter, the startup has lost its last connection to the original micro-blogging app. Bluesky is looking for ways to support the users "who are actually the ones making the network awesome and fun," Wang said.

Persons: Rose Wang, Elon Musk's, Bluesky, Wang, David Carr, Carr, Jay Graber, Jack Dorsey, Jay, Graber, Daniel Holmgren, Paul Frazee, Dorsey, Parag Agrawal, Musk, Nostr, Jack, we're, Mark Zuckerberg, Jack Johnston, Johnston, Gen, That's, It's, Similarweb's Carr Organizations: Twitter, CNBC, Brazilian Supreme, Google, Yahoo, Myspace, Facebook, Anthropic, Delaware State, PBLLC, Bluesky, Blockchain Capital, Blockchain, cryptocurrency Locations: Brazil, San Francisco

☆ Miss Universe runner-up says she wasn't offended by the CEO calling the winner's blond hair and blue eyes the 'ultimate evolution' for the pageant
▼ + stars: | 2024-11-26 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +4 min

She said the Miss Universe brand didn't need to evolve because "we already got the best here." "We have blond and blue eyes, so we're coming to the ultimate evolution already," the CEO said when a reporter asked how she planned to evolve Miss Universe. "Maybe that's just her perspective; maybe that's how she felt about the evolution of Miss Universe." Raul Rocha and Anne Jakrajutatip with Miss Universe 2024 Victoria Kjær Theilvig following her crowning. Adetshina's own journey to the Miss Universe stage was tumultuous .

Persons: Anne Jakrajutatip, Victoria Kjaer, Chidimma Adetshina, Jakrajutatip's, Victoria Kjaer Theilvig, Adetshina —, I'm, Raul Rocha, Kjær Theilvig, Hector Vivas, Donald Trump Jr, Trump, Jakrajutatip, Adetshina, Miss, there's Organizations: Miss, WE, Miss Universe, Trump Jr, BI, Jakrajutatip, Miss Nigeria Chidimma Adetshina Locations: Miss Nigeria, Africa, South Africa, Nigeria

☆ Here's how to maximize your tax breaks for charitable giving
▼ + stars: | 2024-11-26 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Here's what to know about charitable tax breaks before swiping your credit card or transferring funds, according to financial advisors. How the charitable deduction worksWhen filing taxes, you claim the standard deduction or your total itemized deductions, whichever is bigger. The latter includes a tax break for charitable gifts, medical expenses and state and local taxes, or SALT, among others. For 2024, the standard deduction is $14,600 for single taxpayers and $29,200 for married couples filing together. Plus, you can satisfy yearly required minimum distributions, or RMDs, with a QCD, according to the IRS.

Persons: Indiana University Lilly, Paula Nangle, Donald Trump, Nangle, filers, Sandi Weaver, Weaver, Juan Ros Organizations: Indiana University, Indiana University Lilly Family School, Marshall Financial, President, Weaver Financial, Medicare, Financial Management Locations: Doylestown , Pennsylvania, Mission , Kansas, Thousand Oaks , California

When Erika Kullberg's law firm refused to accommodate a family emergency, she knew she had to quit. Kullberg left her law firm after she was denied an extension on a work assignment despite being in the middle of a family emergency. When Kullberg left her law firm — and her salary with it — these are the steps she took to ensure she'd still be financially secure. "I had a number of months I was very, very comfortable with, and so I made sure that that was saved up." "Ever since I was at a law firm, I was really frugal," she said.

Persons: Erika Kullberg's, —, Erika Kullberg, Kullberg, wasn't, doesn't Organizations: Finance, Service

☆ A millennial used a little-known tax strategy to 'exchange' his rental property and sidestep capital gains taxes indefinitely. He explains the challenges and why it was worth the hassle.
▼ + stars: | 2024-11-26 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

AdvertisementJose Palafox used a DST 1031 exchange to defer taxes on his Portland rental sale. In the summer of 2024, Jose Palafox took advantage of a little-known tax strategy called a DST 1031 exchange, which allows investors to avoid capital gains tax on the sale of a rental property. Palafox was ready to sell his Portland rental, which had become more of a headache than a cash cow. Executing a DST 1031 exchange, in which you sell a property and reinvest the proceeds into a Delaware Statutory Trust (DST), not only allowed him to defer capital gains tax — it also released him from landlord responsibilities. To do a DST 1031 exchange, you have to be what's called an accredited investor.

Persons: Jose Palafox, Palafox, Palfox, I'd, you've Organizations: Delaware Statutory Trust, BI, DST Locations: Portland, San Francisco, Bay, Delaware

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