Author: News Room

Conventional wisdom regarding Traditional IRA’s is to not take distributions from your Traditional IRA because you will have to pay tax on it. Let the assets in your Traditional IRA continue to grow tax deferred and take distributions based on the IRS Required Minimum Distribution rules (RMD’S). Another strategy is to convert your Traditional IRA to a Roth IRA. This is a hot topic and there is a lot of information today from advisors and the internet in relation to a Roth conversion. There are many good reasons to make a Roth conversion. Those reasons include: Minimizing income tax Possible…

Ex-Trump White House official: It would be a disaster for Trump if he doesn’t debate Harris Former Trump White House communications director Anthony Scaramucci says that Republican presidential nominee Donald Trump will definitely choose to debate presumptive Democratic presidential nominee Vice President Kamala Harris because Trump knows it will be a disaster for him if he doesn’t. Read the full article here

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Julien Alfred of St Lucia won the women’s 100 metres at the Paris Olympics in a national record of 10.72 seconds, upsetting world champion and fastest woman in the world this year Sha’Carri Richardson of the US who had to settle for silver.Alfred, 23, became the first athlete from the tiny Caribbean nation of 168,000 inhabitants to win an Olympic medal. Richardson suffered a poor start in pouring summer rain, but rebounded in the final metres to claim second place in 10.87…

Patrick Industries, Inc. (NASDAQ:PATK) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET Company Participants Steve O’Hara – VP, IRAndy Nemeth – CEOJeffrey Rodino – PresidentAndrew Roeder – EVP, Finance, CFO, and Treasurer Conference Call Participants Daniel Moore – CJS SecuritiesMichael Swartz – Truist SecuritiesCraig Kennison – BairdScott Stember – ROTH MKMNoah Zatzkin – KeyBanc Capital MarketsTristan Thomas-Martin – BMO Capital Markets Operator Good morning, ladies and gentlemen, and welcome to Patrick Industries Second Quarter 2024 Earnings Conference Call. My name is Rob and I’ll be your operator for today’s call. At this time, all participants are in…

Warren Buffett’s Berkshire Hathaway slashed its stake in tech giant Apple by nearly 50%, according to Berkshire’s second quarter earnings report released on Saturday. Berkshire Hathaway disclosed its holdings in Apple were valued at $84.2 billion at the end of the quarter, dropping from 790 million shares to 400 million shares. The sharp selloff is notable for Buffett, who is known for holding onto stocks for long periods of time. Apple did not respond to CNN’s request for comment. Berkshire Hathaway has previously downsized its stake Apple, which has a market cap over $3.3 trillion. In the final three months…

At age 12, Bella Lin spent an hour every week “scraping, scrubbing and power washing” excrement off her two guinea pig cages.”It was essentially a [mini] porta potty,” Lin, now 17, tells CNBC Make It.The experience was taxing and gross enough to prompt Lin to design her own cages: first on notebook paper, then with bricks and plastic in her backyard in Sunnyvale, California and now in a factory in Hangzhou, China.Lin is the founder and CEO of GuineaLoft, a small pet accessory brand that sells on Amazon. GuineaLoft’s cages are made with acrylic walls and a disposable wax-coated paper…

It’s a July for the record books.State Street Global Advisors finds inflows into exchange-traded funds hit $127 billion. Not only was it the best July ever, but the firm’s head of SPDR Americas research notes it is also the second-largest monthly inflow ever.”Part of it is just the market,” Matt Bartolini told CNBC’s “ETF Edge” on Thursday. “We see investors deploy cash from the sidelines. A lot of cash was built up over the years. We started to see investors really make a concerted effort to continue to buy into this rally. We also saw sort of broadening in the…

A Tiktok trend is encouraging people to save more money. It’s called the ‘no-buy year.’ The rules are simple. Make a list of the non-essential items you will not spend money on for a set length of time and stick to it.  Many people start at the beginning of the year, but some try the challenge for just a month since it could be difficult for a whole year. Some are paying off tens of thousands of dollars in debt. “I’ve been on a debt-free, no-buy year journey since January 1, 2023. On May 3, 2024, 488 days later, I’ve paid off…

Between commission fees and moving costs, home sellers said they spent more than expected to secure a home sale this year, according to a Clever Real Estate survey. On average, sellers spent $54,616 to sell their homes, with 42% reporting that the costs exceeded their expectations, the survey said. The biggest expense was on listing agent and buyer’s agent commission fees. Sellers spent an average of $21,603 on these fees in addition to $10,000 on repairs, $8,000 on closing costs and $7,200 on concessions. Moving expenses added an extra $3,250 to the bill. Sellers also spent an average of $4563…

Former president Donald Trump’s plan to repeal the tax on Social Security benefits would lower taxes for US households by an average of $550, according to a new analysis by the Tax Policy Center. But that tax cut would come with a big price: By reducing Social Security and Medicare hospital insurance (HI) revenues by $1.5 trillion over the next decade, Trump would drive both programs into insolvency faster, resulting in sharply reduced benefits for tens of millions of recipients. Winners And Losers TPC estimated that lower-income households would get little or no benefit from the tax cut in 2025.…