Roughly $198.3 million goes straight to the IRS The Powerball jackpot winner can expect a large upfront federal tax withholding. The IRS requires a mandatory 24% withholding for prizes that exceed $5,000. If you choose the $826.4 million cash option, the 24% federal tax withholding automatically reduces your winnings by $198.3 million. But the windfall…
Steven Chechette (C) speaks with a recruiter at the KeySource booth at the Mega JobNewsUSA South Florida Job Fair held in the Amerant Bank Arena in Sunrise, Florida, on April 30, 2025. Joe Raedle | Getty Images U.S. private sector hiring rose less than expected in August, data released Thursday shows, offering the latest indication…
Stephen Miran, U.S. President Donald Trump’s nominee to be chairman of the Council of Economic Advisers, sits on the day he testifies during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 27, 2025. Annabelle Gordon | Reuters Stephen Miran, President Donald Trump’s nominee for the open…
Federal Reserve Governor Christopher Waller speaks during The Clearing House Annual Conference in New York City on Nov. 12, 2024. Brendan McDermid | Reuters Federal Reserve Governor Christopher Waller, a candidate to take over from Jerome Powell as chair in 2026, on Wednesday voiced his support for starting a rate-cutting cycle in two weeks and said…
Romain Costaseca | Afp | Getty Images Bitcoin edged higher on Tuesday as stocks fell and gold shot to a new record. The price of so-called digital gold rose as much as 2% to reclaim the $111,000 level after dropping over the weekend to a low last seen in July. Spot gold hovered around $3,500…
The Honey Deuce is the U.S. Open’s most famous cocktail. Nbc | Nbcuniversal | Getty Images While inflation rates have cooled in recent years, U.S. Open attendees may still be experiencing the aftertaste as they sip on the tennis championship’s iconic beverage. The so-called Honey Deuce carries an eye-popping price tag of $23. While the…
President Trump’s efforts to fire Federal Reserve Governor Lisa Cook could jeopardize the central bank’s independence, according to longtime investor Rebecca Patterson. “We shouldn’t ignore this at all. This is a big deal what’s going on,” the former Bridgewater Associates chief investment strategist told CNBC’s “Fast Money” this week. Patterson, now a senior fellow at…
Rack of bridal gowns hanging in a shop window in San Diego, California. Cavan Images | Istock | Getty Images I’m getting married next year, and a recent item on my to-do list was a fun one: buy my wedding dress. In mid-August, I had an appointment at a bridal boutique in New York City….
dowell | Moment | Getty Images With the stock market hovering near record highs, you may have large profits sitting in a taxable brokerage account. Upon selling, you could owe capital gains taxes, levied at 0%, 15% or 20%, based on taxable income, if you own the assets for more than one year. There’s also a…
Jakub Porzycki | NurPhoto | Getty Images Ether is pulling back to start the week, after hitting a fresh all-time high over the weekend. The price of the second largest cryptocurrency fell 5% to $4,588.85 on Monday, according to Coin Metrics. On Sunday, it rose to a fresh record of $4,954.81, after hitting an all-time…
