DIRS.INFO The most relevant business & tech news

☆ Donating a used car may serve as a charitable gift this holiday season — but it's unlikely to benefit your taxes
▼ + stars: | 2023-11-14 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Additionally, the value of non-cash charitable contributions is limited to 50% of your adjusted gross income, which can be a "real hassle" if you're donating a newer used car, which are "valuable right now," he said. The donor must include the 1098-C when they file their individual tax return, and detail the donation on Schedule A. If you made more than $5,000 in non-cash charitable contributions, you'll also fill out Form 8283, Lucas said. Even if you don't see a tax benefit, you relieve the charity of the effort and expense of repairing and selling the car. How to vet a nonprofit for a car donationIf you plan to donate a car, make sure the organization is a 501(c)(3) organization, Campo explained.

Persons: Manusapon, Albert J, Lucas, you'll, Campo Organizations: AJC Accounting Services, IRS Locations: Manalapan , New Jersey

☆ Exchange-traded funds are among the top 3 investment products that got more popular from 2020, survey finds
▼ + stars: | 2023-11-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Getty ImagesExchange-traded funds came in third among the top 10 investment products to grow in popularity with U.S. households from 2020 to 2022, according to a new survey. Additionally, consumers are more aware of what investment products they own compared to a decade ago. Separately managed accounts grew the mostMeanwhile separately managed accounts and high-yield savings accounts beat out ETFs for spots No. 2 in the Hearts & Wallets survey of investment products that grew the most from 2020 to 2022. Meanwhile, high-yields savings accounts speak to the story around inflation and the Federal Reserve increasing rates, which "have been the main headline the last year or so," he said.

Persons: Gen Z, Laura Varas, Douglas, Boneparth, Douglas Boneparth, Blair duQuesnay, duQuesnay Organizations: Getty, Exchange, Finance, Bone, Federal Reserve, FDIC, CNBC's FA, Ritholtz Wealth Management, CNBC FA Locations: U.S, New York, CNBC's

☆ Here's why it 'doesn't make financial sense' for Americans living abroad to give up their U.S. citizenship, one expert says
▼ + stars: | 2023-11-10 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"It typically doesn't make financial sense, and there's a few reasons why," said Italy-based Alex Ingrim, a financial advisor at Chase Buchanan Wealth Management. While there may be some instances where "the pain of being American" arises in the tax liability, "you're very rarely double-taxed" as an American, Ingrim said. Similarly, if you earn Portuguese income and pay Portuguese income taxes, you will get some credits on your U.S. filing for taxes paid overseas, according to Boudreaux. However, they still have the U.S. tax liability. "For those people, it's a pain, and [they] opt for giving up their citizenship to avoid paying taxes," Ingrim said.

Persons: Alexander Spatari, Alex Ingrim, Ingrim, Jude Boudreaux, expats, Boudreaux, Jordi Mora Igual Organizations: Chase Buchanan Wealth Management, Planning, Social, CNBC FA Locations: Italy, New Orleans, U.S, Portugal, Monaco, Dubai

☆ These luxury stocks won't lose their luster even as sales growth slows to pre-pandemic levels
▼ + stars: | 2023-11-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +13 min

After three years of record growth, luxury companies are feeling the pain as sales slow to a more normal pace. Nowhere have the struggles of the luxury sector been more prominent than in the French conglomerate LVMH Moet Hennessy Louis Vuitton , the group's bellwether. This dynamic tends to hurt the less-prestigious luxury brands more, according to Rogerio Fujimori, an analyst at Stifel. "Chinese [consumers] are back to Southeast Asia and Japan, but there's still a long way to go in terms of Europe. LVMH and other European luxury brands have been market leaders among European equities since 2021 until the first half of 2023.

Persons: Richemont, Burkhart Grund, LVMH Moet Hennessy Louis Vuitton, Gucci, Ashley Wallace, Bernstein, Luca Sola, Rogerio Fujimori, Fujimori, Wallace, Stifel's Fujimori, there's, Richemont's Grund, —, Fujimori foresees, we've, Hermes, Brunello, Thomas Chauvet, Louis Vuitton, Brunello Cucinelli, LVMH, Dior, Markus Hansen, Hansen, America's Wallace, It's, Vontobel's Hansen, — CNBC's Michael Bloom Organizations: Cartier, Bank of America, U.S, U.S ., EU, Europe, Citi, Bank, Gucci, Bottega Locations: U.S, Europe, Japan, China, Southeast Asia, China's, Thursday's, Kering

Aldean and Anthony's dominance wasn't long — and Combs did earn a 2024 Grammy nomination for best country solo performance — but Wallen stands out as an obvious exclusion. While “Last Night” is nominated for best country song, a songwriter's award, Wallen himself isn't despite his successful year. Monét has also picked up record of the year and best R&B song nominations for her glossy, brassy “On My Mama,” best R&B performance and best traditional R&B performance. Her 2023 release, “Jaguar ll,” is up for best R&B album and best engineered album, non-classical. IT'S RAINING WOMEN, HALLEJUAHThe best story of the 2024 Grammy nominations, of course, is just how many women are represented in the major categories.

Persons: “ Barbie, Reneé Rapp, Rapp's, ”, Rapp, PinkPantheress, Eslabon, Ella Baila Sola, Bunny, Natanael Cano, Karol G's, Jason Aldean's “, Morgan Wallen's “, Luke Combs, Tracy Chapman's, Oliver Anthony Music's, Combs, Wallen, isn't, he's, NewJeans, Barbie, PRINCE HARRY, Michelle Williams, Britney Spears, Prince Harry, Meryl Streep, William Shatner, Rick Rubin, Sen, Bernie Sanders, Michelle Obama, WHO'S, There's, Travis Scott's, Scott, Cole’s, Uzi Vert’s “, Victoria Monét's, Monét, Ariana Grande’s, Chloe x Halle, she’s, Taylor Swift, Billie Eilish, Miley Cyrus, Olivia Rodrigo, Jon Batiste Organizations: ANGELES, música Mexicana, Grupo Frontera, Fuerza, North Locations: Será Bonito, ”, Richmond

☆ Getting engaged? Amid lab-grown diamond boom, here's what to know about man-made vs. natural gems
▼ + stars: | 2023-11-08 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

If your partner got down on one knee and asked you to marry them today, would you say yes? What if you found out the ring destined for your finger boasts a lab-grown diamond? The chances of that engagement ring bearing a man-made diamond are higher than you might think. Global sales for lab-grown diamonds increased to $12 billion in 2022, up 38% year over year, per an analysis by New York-based Paul Zimnisky, a financial and diamond industry analyst. "It's very difficult to resell a lab diamond, and as the price gets lower, I don't think there's going to be a resale market for lab diamonds," Zimnisky said.

Persons: Paul Zimnisky, Borrow, Gen, Zimnisky Organizations: Finance Locations: New York

☆ Gen Z, millennials have a much harder time ‘adulting’ than their parents did, CNBC/Generation Lab survey finds
▼ + stars: | 2023-11-07 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Getty ImagesGen Z and millennial adults are having a hard time achieving the same milestones their parents did when they first ventured out into the workforce. The survey polled 1,039 people between ages 18 and 34 across the U.S. from Oct. 25 to Oct. 30. "We are bombarded with headlines about inflation, and we see inflation when we check out at the grocery store." On the positive side, Beschloss at Generation Lab said there is "hope in this data." Gen Z, millennials and the stock market

Persons: Young, Getty, Cyrus Beschloss, Gen Zers, Blair duQuesnay, duQuesnay, Boneparth, Beschloss, Gen Organizations: CNBC, Generation, Ritholtz Wealth Management, CNBC Financial, Youth, Douglas, Lab Locations: USA, America, New Orleans, New York

☆ Homeowners associations can be a boon, or bust, for buyers. Here's how to vet HOAs when house hunting
▼ + stars: | 2023-11-05 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Different types of homes can be affiliated with an HOA, from single-family homes to co-operatives. Single-family homes are separate units where residents own both the plot of land and the house on it, said Clare Trapasso, executive news editor at Realtor.com. They have their own entrances and access to the street and don't share utilities or other systems with other homes. In a condo, residents own their individual units but jointly own the land and the common areas with other residents. Condos are run with a board of people on the homeowners association making decisions for the community, said Jaime Moore, a premier agent for Redfin.

Persons: Clare Trapasso, Jaime Moore, Thomas M, Skiba, Homebuyers, Moore, Redfin's Moore Organizations: Community Associations Institute Locations: New York, Boston, HOA, Nevada

A man walks by the Bank of America headquarters in New York on July 18, 2023. Customers at several big banks on Friday wrestled with direct deposit delays stemming from an industry-wide processing issue. There was a surge of "outages" reported by banking customers Friday morning, including Bank of America, Chase, Truist, U.S. Bank and Wells Fargo, according to Downdetector. All Federal Reserve Financial Services are now operating normally, according to a Federal Reserve statement released Friday. Banks are now working to correct the errors in those payments, he said.

Persons: Chase, Gregory MacSweeney, Banks, Lee Henderson Organizations: Bank of America, U.S . Bank, Financial Services, Finance, Social Security, Fed, Electronic Payments, CNBC Locations: New York, Truist, U.S, Wells Fargo

☆ Applying for too many jobs may keep you from getting hired. Avoid sending a ‘firehose of applications,’ economist warns
▼ + stars: | 2023-11-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

In this article ZIP Follow your favorite stocks CREATE FREE ACCOUNTFiladendron | E+ | Getty ImagesApplying to multiple job openings can increase your chances of landing a new gig. However, if you're thinking of sending out what one economist called a "firehose of applications" all at once and then just waiting for responses, think again. "The problem is that sometimes people take a college application approach to the job search," said Julia Pollak, chief economist at ZipRecruiter. 'Set a daily goal of a number of applications'There are more strategic ways to go about the job search and application process instead of applying to jobs on mass, according to experts. Julia Pollak chief economist at ZipRecruiter

Persons: Julia Pollak, Pollak, Nick Bunker, —, Gabrielle Davis Organizations: ZipRecruiter, Finance, Union, U.S . Department of Labor, ZipRecruiter Survey, New Locations: U.S

☆ With Gen Z, millennials now the biggest ‘dupe’ shoppers, online culture has ‘flipped the script,’ analyst says
▼ + stars: | 2023-10-31 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

So-called girl math is not the only trend spurred by users on the short-form video app TikTok. "Dupes," short for "duplicate," are cheaper alternatives to premium or luxury consumer products, and they are increasingly popular among Gen Z and millennial shoppers and app users. While nearly one-third of adults, 31%, have intentionally purchased a dupe of a premium product at some point, Gen Z and millennials have higher participation rates: roughly 49% and 44%, respectively, according to Morning Consult. "The online culture of dupe shopping, accelerated by TikTok especially in the last few years, has flipped the script," said Ellyn Briggs, brands analyst at Morning Consult. While shoppers may miss out on the experience luxury products provide, dupes are less expensive versions that help consumers save money and test an item before splurging on the real thing.

Persons: Z, Gen, Ellyn Briggs, that's, Marisa Meltzer, Meltzer, Emily Weiss's Glossier Organizations: TikTok, Morning, Finance Locations: New York

☆ Shoppers have choices when it comes to payment plans. Here's how to pick between buy now, pay later and retail credit cards
▼ + stars: | 2023-10-26 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Using financing deals from retail credit cards also allows you to take an item home immediately after purchase, but they operate differently than BNPL plans and serve different purposes. Buy now, pay later deals can buy you 'a little extra time'"If you need a little extra time to pay something off, then a 'buy now, pay later' loan can be a really appealing thing," said Schulz. In addition, retail credit card accounts — especially newly opened ones — often include "deferred" or zero interest promotions. How BNPL, retail cards can affect your creditHoliday debt can be very sticky for cardholders. Actually, sign-ups for retail credit cards consistently spike every year in the fourth quarter, specifically November and December, according to credit bureau company Equifax.

Persons: Matt Schulz, Schulz, That's, Sara Rathner, Rathner, NerdWallet Organizations: Finance, LendingTree, Retail

☆ Homebuyers must earn more than $400,000 to afford a home in the 2 priciest metro areas — and New York isn’t one of them
▼ + stars: | 2023-10-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

"The Bay Area has consistently been one of the most expensive markets in the country," said Daryl Fairweather, chief economist at Redfin. Why the New York metro area is low on the listMidtown Manhattan, New York, as seen from Hoboken, New Jersey. That's because the metro area goes beyond Manhattan and the city's four other boroughs, extending into nearby counties. "Even though Manhattan is really expensive, once you get to the outlying areas [in] the New York metro area, it actually becomes quite affordable," said Fairweather. Interested homebuyers in the region still need to earn six figures annually to afford a home, about $197,734, Redfin estimates.

Persons: Thomas Barwick, San, Daryl Fairweather, Gary Hershorn, Fairweather Organizations: Area, Redfin, California metros, San Diego —, New, Midtown, Corbis, Council for Community Locations: Getty, San Francisco, San Jose , California, California, Anaheim, Oakland, San Diego, New York, Midtown Manhattan , New York, Hoboken , New Jersey, Manhattan, U.S

☆ Credit card users paid $130 billion in fees, interest in 2022, federal watchdog says
▼ + stars: | 2023-10-25 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Proposed changes are meant to fill gaps in the Credit Card Accountability Responsibility and Disclosure Act of 2009, or CARD Act. The law imposed guardrails on credit card companies such as price controls on penalty fees and specific conditions in which they can be charged. However, there is no restriction on how much APR a company can charge nor language on late fees. How to minimize credit card fees, interestCardholders who carried a balance paid about 20% of their average statement balance in interest and fees last year, the CFPB found. WalletHub estimates that cardholders paid on average $76.27 in fees and interest per credit card account in the fourth quarter of 2022.

Persons: Biden, Schulz, it's, " Schulz, cardholders, Autopay, Matt Schulz, Sara Rathner Organizations: Consumers, Federal Trade Commission, Istock, Getty

☆ These credit cards have had 'increasingly notable' high rates, analyst says. What to know before you shop
▼ + stars: | 2023-10-23 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

"We've seen all types of credit card rates go up in recent years, but store cards have been increasingly notable," said Ted Rossman, senior industry analyst at Bankrate. "It's becoming way more common for many credit cards to have that as a possible standard rate," Schulz told CNBC in a previous interview. watch nowYet, about 74% of 2023 holiday shoppers still plan on using credit cards to buy gifts this year, NerdWallet found. 'These 0% promos are very dangerous'Retail credit cards will oftentimes offer a 0% interest promotion described as "deferred interest." Sara Rathner credit cards expert and writer at NerdWallet.

Persons: We've, Ted Rossman, Matt Schulz, Schulz, Sara Rathner, NerdWallet, Bankrate's Rossman, Rathner Organizations: Bankrate, Finance, CNBC Locations: NerdWallet

☆ As mortgage rates hit 8%, home 'affordability is incredibly difficult,' economist says
▼ + stars: | 2023-10-20 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Lifestylevisuals | E+ | Getty ImagesHow home affordability has changedIn August 2020, the typical monthly mortgage payment was $1,581, based on an average interest rate of 2.94%, Redfin found. Nowadays, the typical U.S. homebuyer's monthly mortgage payment is $2,866, according to Redfin — an all-time high. "In the next year or two years, interest rates will be lower, and people will have the ability to refinance." That said, competition for homes on the market is likely to be worse in a few years as interest rates cool, she said. "When interest rates come down, everyone's going to come back to the marketplace," said Cohn.

Persons: Redfin, homebuyers, Mark Hamrick, Alicia Huey, Melissa Cohn, William Raveis, Cohn Organizations: Bankrate.com, Istock, Federal Reserve, CNBC, William Raveis Mortgage Locations: U.S, Birmingham , Alabama, New York

☆ Credit card users paid nearly $164 billion in fees, interest in 2022. It may 'get a little worse,' analyst warns
▼ + stars: | 2023-10-19 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

Some credit card companies charge as much as $41 for a missed payment. Proposed changes are meant to fill gaps in the Credit Card Accountability Responsibility and Disclosure Act of 2009, or CARD Act. The law imposed guardrails on credit card companies, like price controls on penalty fees and specific conditions in which they can be charged. However, there is no restriction on how much APR a company can charge nor language on late fees. How to minimize credit card fees, interestCardholders paid on average $76.27 in fees and interest per credit card account in the fourth quarter of 2022, WalletHub found.

Persons: Oscar Wong, Biden, Schulz, Cardholders, WalletHub, it's, cardholders, Autopay, Matt Schulz, Sara Rathner Organizations: Federal Trade Commission

☆ Sparse inventory drives prices for new, used vehicles higher. 3 things to do when car shopping
▼ + stars: | 2023-10-17 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +4 min

Moreover, the strike might only affect a relatively small number of vehicles when compared to the auto market as a whole. Car shoppers hardly saw similar end-of-summer sales last year either because of a chip shortage that reduced production levels, added Caldwell. "It is absolutely a great time to look into the EV market, both for new and pre-owned," he said. Additionally, recurring price cuts from Tesla this year might also soften prices in the EV market as a whole, added Caldwell. Shopping tips for a low-inventory car market

Persons: Adam Gault, Jessica Caldwell, Edmunds, Gen Z, We're, They're, Caldwell, Tom McParland, There's, Kelley, EVs Organizations: Finance, Workers, United Auto Workers, Automatch Consulting, EV Locations: Edmunds

☆ The 'ideal booking window' for holiday airfare is closing, economist says. 'Travelers are going to miss out'
▼ + stars: | 2023-10-13 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +3 min

D3sign | Moment | Getty ImagesIf you have yet to purchase your fall and winter holiday travel and are hoping for a bargain airfare, time is running out. "Travelers are going to miss out on the opportunity to save when they wait too long," said Hayley Berg, lead economist at Hopper. In early October, 85% of Hopper app users who intended to book holiday travel had yet to do so, according to a survey of 500 people. In the last few days before Christmas, travelers could see price jumps of about $40 a day, Hopper anticipates. Fares will likely become increasingly competitive as travelers wait, "judging by the number of people traveling this year," said Elizabeth Ayoola, a personal finance writer at NerdWallet.

Persons: Hayley Berg, Hopper, Berg, airfare, Elizabeth Ayoola Organizations: Travelers, Finance, Air, Getty

Recent indicators show that women are increasingly eager to put their money to work outside of traditional portfolio offerings. For instance, women accounted for 31.2% of angel investors in the first two quarters of 2022, a slight increase from 30.3% in the same period in 2021, according to a report by Jeffrey E. Sohl at the Center for Venture Research at the University of New Hampshire. This is "an encouraging sign that women angels are an increasing active segment in the angel market," especially as women are predicted to control the majority of the net worth in the U.S., the report said. If you have the money and inclination, angel investing is "a window to innovation across the economy," Jo Ann Corkran, co-CEO and managing partner of Golden Seeds, said Thursday at CNBC's Financial Advisor Summit. It doesn't depend on the market cycle and innovation is always happening, she added.

Persons: Jeffrey E, Sohl, Jo Ann Corkran Organizations: Center for Venture Research, University of New, Golden, CNBC's Financial Locations: University of New Hampshire, U.S

That's almost half the nearly 6.7 million Latinas who live in those states, representing the largest group of women of color affected by the court's decision. Financially insecure women are more likely to be affected by state bans and restrictions, the report notes, because they are likely to lack funds to travel to another state for abortion care. Roughly 1.4 million Latinas in these 26 abortion-restricted states work in service occupations, according to the report. Twenty-six states have banned or further restricted abortion services by providers such as Planned Parenthood since the Supreme Court overturned the landmark Roe v. Wade case. Michael B. Thomas | Getty Images News | Getty ImagesAt large, Hispanic women or Latinas are over represented in low-wage occupations, such as servers and cleaners.

Persons: Roe, Wade, Lea, That's, Lupe M, Shaina Goodman, Michael B, Thomas, Dobbs, Candace Gibson, Goodman, Rachel Greszler Organizations: National Partnership for Women, National Latina Institute, Reproductive, Getty, U.S . Department of Labor, Heritage Foundation

☆ Here are 3 ways to avoid paying more than what you actually owe on your credit cards
▼ + stars: | 2023-10-11 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

Given record-high interest rates, now is not the time to be taking on more credit card debt. The Federal Reserve is expected to further hike interest rates before the end of the year, and the average credit card interest rate is already at an all-time high. Automated payment options can help credit card holders bypass late payment fees. "You can set it up for a lower payment," said Sara Rathner, credit cards expert and writer at NerdWallet, referring to a monthly automated card payment. "There's no penalty charge on your card if you pay your statement balance before the due date," Ewen added.

Persons: Sara Rathner, Nick Ewen, Guy, Ewen Organizations: Federal, Finance

☆ Israel-Hamas war causes oil prices to spike. Here's what drivers in the U.S. need to know
▼ + stars: | 2023-10-09 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +1 min

Oil prices jumped more than 3% after members of the militant group Hamas launched a surprise attack on Israel from the Gaza Strip last weekend. However, neither Gaza nor Israel produce much petroleum, so the overall effect on oil and gas prices is likely to remain limited — as long as no third parties from in or outside the region become involved, according to industry experts. "The impact on the oil price will be limited unless we see the 'war' between the two sides expand quickly to a regional war where the U.S. and Iran and other supporters of the parties get directly involved," Middle East managing director of energy consultancy Facts Global Energy, Iman Nasseri, previously told CNBC. More from Personal Finance:Widow lost $661,000 in a common elder fraud schemeWhy so many workers are striking in 2023How to vet a qualified tax preparer for next seasonAs long as the violence does not spread, oil and gas prices in the U.S. are likely to be unaffected.

Persons: Iman Nasseri, Widow Organizations: Hamas, Global Energy, CNBC, Finance Locations: Israel, Gaza, Iran, U.S

☆ Holiday shoppers are bracing for more financial strain this year. Here are 3 ways to prepare
▼ + stars: | 2023-10-04 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +2 min

To that point, many are already getting ahead of holiday expenses. Half of holiday shoppers plan to begin, or have already begun, making purchases before Halloween, according to Bankrate. "The fact that deals start early allows you to research the best options and spread out your cashflow," said Rossman. Overall, think through what your gift-giving budget should be ahead of time so it doesn't create a financial strain. 3 ways to get ahead of holiday spendingwatch now

Persons: David Paul Morris, Hopper, Hayley Berg, Carolyn McClanahan, who's Organizations: Bloomberg, Getty, CNBC, Amazon, Walmart, Planning Partners, CNBC's FA Locations: Jacksonville , Florida, CNBC's

Taylor Swift fans forked out an average $2,183 for a resold ticket to a concert on the superstar's Eras Tour, according to resale research site TicketIQ. Now, ticket resellers may owe taxes on profits made during what may turn to be — for them, at least — a rather "Cruel Summer." Ticket profits have always been taxable, but the new IRS reporting threshold for business transactions on third-party platforms, such as TicketMaster or eBay , is now a single payment of $600, down from 200 transactions worth an aggregate of over $20,000. Taxpayers will have to prepare as the law takes effect this coming season. "Starting at the beginning of next year, you want to make sure you know how to report this income," said certified financial planner and enrolled agent Tommy Lucas of Florida-based Moisand Fitzgerald Tamayo.

Persons: Taylor Swift, Tommy Lucas of, Moisand Fitzgerald Tamayo Organizations: TicketMaster, eBay, Taxpayers Locations: Tommy Lucas of Florida

Search resuls for: "Sola"

25 mentions found