Laylabird | E+ | Getty Images Inherited individual retirement accounts can be a financial boost for heirs, but the windfall can trigger tax issues, experts say. Withdrawals from pre-tax inherited IRAs incur regular income taxes. Since 2020, certain heirs can no longer “stretch” retirement account distributions over their lifetime to reduce yearly taxes. Now, certain … Read more
Australia’s largest telecommunications company has announced it will be delaying planned 3G network closure dates by two months amid concerns over access to emergency calls. Telstra announced the network closure will be delayed from June 30, 2024 to August 31, 2024, with the company advising the extension was to “give people more time to upgrade … Read more
Rebekah Alstede Modery, left, and Sarah Alstede, sisters and co-owners of Alstede Farms in Chester, New Jersey. Courtesy: Alstede Farms Sisters Rebekah Alstede Modery and Sarah Alstede were raised on a New Jersey farm. This year, they decided to spend their careers there, too. Rebekah graduated in 2023 with a double major in agricultural business … Read more
Customers at a major Australian bank will be stopped from withdrawing and depositing cash and cheques from branches this month, as it shifts towards “completely digital” payments. Macquarie Bank last year announced it would phase out its cash and cheque payments for customers from this year, citing a shift in customers’ banking habits. From May … Read more
Android users are being warned of a new type of malware connected to the Chrome internet browsing app, which has the potential to take control of users’ phones and potentially access banking information. The new malware, named Brokewell, reportedly disguises itself as an update for Chrome. Once downloaded, it can allow cybercriminals to access sensitive … Read more
Francisco Rivera doesn’t even like candles — but he brings in six figures per year selling them on Etsy. In February 2023, Rivera was living in Orlando, Florida and working part-time for online tutoring company Outschool. Demand dropped when after-school activities resumed post-COVID, so he started looking for more income elsewhere. He found a YouTube … Read more
A NSW man has sold a 5c coin for $2000 — a decade after finding it in his childhood money box. The coin, which was taken into Adelaide coin shop The Purple Penny earlier this year, features a double obverse — the late Queen Elizabeth II’s effigy on both sides. Minted in 2007, its two … Read more
From a CEO change to announcing staff layoffs, it’s been a bumpy couple of days for Peloton. On Thursday, Peloton announced it is laying off 15% of its global staff, which will affect around 400 employees. The company also plans to continue to close retail showrooms in an effort to “align the company’s cost structure … Read more
The US Department of Education sign hangs over the entrance to the federal building housing the agency’s headquarters on February 9, 2024, in Washington, DC. J. David Ake | Getty Images If your current federal student loan servicer is Mohela, or the Missouri Higher Education Loan Authority, the U.S. Department of Education said it will … Read more
Yuga Labs, the creator of the viral Bored Ape Yacht Club non-fungible tokens, announced a new round of layoffs on Friday as the NFT frenzy appears to cool. Greg Solano, YugaLab’s CEO, announced that the startup would lay off an unspecified number of employees as it undergoes “restructuring.” “To put it simply: Yuga lost its … Read more
