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Now that he is unable to access cryptocurrency, former FTX founder Sam Bankman-Fried trades fish to cover his jail expenses

The former crypto-billionaire Sam Bankman-Fried quickly became familiar with the Metropolitan Detention Center’s financial structure. While awaiting punishment on 7 felony counts, including wire fraud and an attempt to commit laundering funds, the infamous founder of the cryptocurrency exchange FTX was keeping busy by exchanging food products for services. It seems that a convict gave him the…

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How does your check compare to the typical Social Security benefit at ages 62, 66, and 71?

Fortunately for you, the Social Security Administration (SSA) releases comprehensive data on all claimants and benefits received in the United States. But bear in mind that the amount of your every monthly payout is mostly determined by 4 things when considering your benefit to others: the number of years you were employed, the income you earned…

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IRS proposes a $5,000 cap for 2023 but delays implementing a new $600 Form 1099-K filing threshold until 2024

The updated $600 Form 1099-K reporting level for third-party settlement organizations will not go into effect until 2023, according to an announcement made by the Internal Revenue Service (IRS). Payment processors, tax experts, and taxpayers all provided input that led to this conclusion. It is to lessen confusion. Only if a taxpayer obtains more than $20,000…

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Biden suggests prohibiting cable cord-cutting charges

On Tuesday, the Federal Communications Commission unveiled a proposed regulation that would outlaw early termination fees for contracts involving cable and satellite services. Early cancellation costs would be eliminated by cable operators as well as direct broadcast satellite, or DBS, providers under the proposed rule. Based on an FCC announcement, it would also mandate that…

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During Thanksgiving, Warren Buffett gives around $900 million to charitable organizations

In keeping with his promise to dedicate the majority of his riches to philanthropy, billionaire Warren Buffett has given over $870 million in Berkshire Hathaway stock to 4 philanthropic foundations. This holiday custom is noteworthy. The Susan Thompson Buffett Foundation, a nonprofit that funds family planning and reproductive wellness initiatives, received 1.5 million Class B…

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