Liu Fengfeng had more than a decade under his belt at one of the world's most prominent technology companies before he realized where the real gold rush in China was taking place.
Computer chips are the brains and souls of all the electronics the country's factories crank out. Yet they are mostly designed and produced overseas. China's government is lavishing money upon anyone who can help change that.
So last year Mr. Liu, 40, left his corporate job at Foxconn, the Taiwanese giant that assembles iPhones in China for Apple. He found a niche — high-end films and adhesives for chip products — and quickly raised $5 million. Today his start-up has 36 employees, most of them in the tech hub of Shenzhen, and is aiming to start mass production next year.
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Made a Lot of Money in the Stock Market This Year?
If you made a lot of money in stocks this year and want an easy way out of paying the resulting taxes, there's one solution you can employ -- and it's totally legal.
By selling stocks at a loss, you offset the taxable value of your capital gains. So if, for example, you've decided to lock in gains of $6,000 from some of your winners by selling shares, but you can also close out positions that give you a $6,000 loss, from a tax perspective, your capital gains are zero. The extra tax burden from your profitable investments is gone, and you've freed up the money that was tied up in those losing stocks to be reinvested in (hopefully) better ones.
DIGGING DEEPER: Rental scam designed to take your money
FORT WAYNE, Ind. (WPTA21) - Imagine packing everything to move into a new home, only to find out the deal you made, was with a crook.
It's a scam you'll find all across the country, one that uses actual rental properties to trick you out of hundreds, even thousands of dollars.
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Lewis grew up in Wisconsin, moved to Indianapolis, before deciding to head back north a bit, landing in Fort Wayne.
Lewis showed up to the home with her U-Haul packed full of her belongings. It was suppose to be move in day.
Factbox: What happens if the U.S. government runs out of money on Monday? | Reuters
WASHINGTON (Reuters) - U.S. President Donald Trump's threat not to sign a $2.3 trillion spending package approved by Congress means that parts of the federal government may have to shut down as soon as Monday even as it grapples with the coronavirus pandemic.
The Trump administration has not said what it will do if the government runs out of money, but previous lapses have led to tens of thousands of non-essential workers being put on leave and others, including those dealing with public safety, forced to work without pay.
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Fidelity's Largest Money Market Fund Waives $247 Million of Fees
(Bloomberg) -- Fidelity Investments has waived nearly $250 million in fees and expenses for its largest money market fund, a sign of how low yields pressured the products in an unprecedented year.
The Fidelity Government Money Market Fund reported the figure for the six months ended Oct. 31 in a filing last week. Without the waivers, investors in the $212 billion fund would have faced negative yields on their holdings.
Retail money market funds struggled this year as the U.S. Federal Reserve tamped down interest rates in response to the Covid-19 pandemic crisis. That made it difficult to generate enough interest income to cover expenses and still pay shareholders, leading to the fee waivers. As a result, managers face earning less revenue to oversee more assets.
Survey: Americans resolving to be smarter about money in 2021 | WRAL TechWire
If the pandemic economy made the year difficult for you financially, you’re not alone. Do you plan on doing something to remedy that in 2021?
Nearly three-quarters of Americans say they have a 2021 New Year's resolution centered around being smarter with money, according to research commissioned by Slickdeals, a social platform for shopping. (See infographic at end of article for a quick view of the data.)
The results: 73% plan to be smarter about money and 47% of respondents said 2020 was a difficult year for them financially. More than half, 53%, point squarely at the pandemic as the cause.
What the new COVID relief package means for your money
A second wave of federal coronavirus relief totaling $900 billion could begin flowing to millions of Americans as soon as the year’s end, nearly nine months after Congress passed the original pandemic relief package known as the CARES Act.
Here’s what the COVID relief package — part of a $2.3 trillion spending bill passed by Congress and now awaiting the president’s signature — could mean for you, your family, your home or your business.
Are You Missing Out on $60,000 in Free Money for Retirement?
Most of us need all the help we can get saving for retirement. Social Security throws a little money our way, and 401(k) employer matching contributions boost our savings efforts, too. But there's another low-effort source of retirement money you may be overlooking: Matching contributions in your HSA.
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The Employee Benefits Research Institute (EBRI) pegs the average annual employer-funded HSA contribution of employers at $895. If that employer contribution of $895 per year earned market-level annual returns of 7%, that money would grow to $60,000 after 25 years. And the true buying power of that balance is even higher than traditional IRAs and 401(k)s, because when you use the funds for your healthcare expenses, HSA withdrawals are tax-free.
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