Powerball’s jackpot is $1.6 billion, the largest lottery prize ever. If you win, here’s how much would go to taxes

Jonathan Alcorn | Reuters If you manage to beat the odds stacked against hitting the Powerball jackpot, don’t forget you’ll have a silent partner in the win: the taxman. The jackpot for Saturday night’s drawing is now the largest lottery prize ever at an estimated $1.6 billion — pretax — if you were to opt…

Opinion: Ron Baron explains his investing philosophy with goal of doubling his money every 5 to 6 years

In this article TSLA Follow your favorite stocksCREATE FREE ACCOUNT Ron Baron, founder of Baron Capital Anjali Sundaram | CNBC I began my career as a securities analyst in 1970. It was a tumultuous time. The Vietnam War, Watergate, the resignation of President Richard Nixon, the Iranian hostage crisis, a recession, inflation, interest rates in…

Op-ed: High-net-worth investors can amplify their charitable impact with a ‘recoverable grant’

Miniseries | E+ | Getty Images Anyone watching the markets this year knows that it’s been a bumpy ride. But investors and the corporate sector aren’t the only ones feeling the pinch as financial markets have fallen sharply. With an estimated 33% of all charitable giving taking place in November and December, non-profit organizations will…

This individual retirement account deduction mistake may derail your tax break

dowell | Moment | Getty Images As the year-end approaches, you may be looking for ways to lower your 2022 tax bill — and certain tax-saving moves have rules you must follow in order to qualify. One option, adding money to your pretax individual retirement account, may be attractive if you make too much for…

Supreme Court again declines to block Biden’s student loan relief plan

Supreme Court nominee and U.S. Court of Appeals Judge Amy Coney Barrett on Capitol Hill in Washington, October 21, 2020. Ken Cedeno | Reuters The Supreme Court on Friday rejected a second request to block the Biden administration’s student loan debt relief program. Justice Amy Coney Barrett denied an emergency application to block the program…

Carbon Taxes, Trade, and American Competitiveness

Key Findings Carbon leakage occurs when a climate policy in one jurisdiction leads to emissions-producing activity simply shifting to a different jurisdiction. Leakage raises both environmental concerns—as it undermines emissions reduction efforts—and economic concerns. In the aggregate, leakage is relatively small, but it could have an outsized impact on specific emissions-intensive, trade-exposed (EITE) industries. Using…

Spain’s Race to the Bottom in the International Tax Competitiveness Index

Tax Foundation recently released the 2022 International Tax Competitiveness Index (ITCI) measuring the competitiveness and neutrality of countries’ tax systems. Since 2020, Spain has dropped from 26th to 34th (out of 38 countries) in the ITCI due to multiple tax hikes, new taxes, and weak performances in all five index components. In Spain’s case, some…

Carvana tumbles after posting declines in nearly every aspect of the car reseller’s business

In this article CVNA Follow your favorite stocksCREATE FREE ACCOUNT Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Shares of Carvana fell in extended trading Thursday after the online used car retailer missed Wall Street’s top- and bottom-line expectations for the third quarter and reported declines in revenue, profit and sales compared with a year…

Jim Cramer says to parse the Dow for recession-resilient stocks

In this article PG JNJ Follow your favorite stocksCREATE FREE ACCOUNT CNBC’s Jim Cramer on Thursday advised investors on where to look for stocks that can withstand a potential economic downturn. “The Dow Jones Industrial Average is filled with relatively cheap stocks because traders assume these 30 old-line companies are the most vulnerable to a…

Cramer’s lightning round: I’m sticking with Nvidia

Loading chart… Nvidia Corp: “I know it’s overvalued right now. … I think a year from now, the stock’s going to be higher, and I’m sticking with Nvidia.” Loading chart… GoPro Inc: “I said sell that stock. … $95, never looked back.” Loading chart… Home Depot Inc: “I think that the Fed is directly targeting…