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Get the facts before making financial gifts

If you have gifting to loved ones on your mind, here are some considerations related to taxes and logistics. GIFTING LOGISTICS Unless you’re writing a check from your bank account, the logistics of gifting funds can get a bit complicated. If you want to gift from your IRA, your only option is to sell a chunk of it, then pay any taxes due, then write a check. That’s not terrible, so long as you understand the tax implications. IRA withdrawals are typically subject to ordinary income tax, along with penalties if you’re not yet 59½. You could also trigger some knock-on tax ...

Trump administration’s changes to the CFPB cost Americans $19 billion, a new report says

NEW YORK (AP) — One year after the Trump administration took control of the Consumer Financial Protection Bureau, the consumer watchdog has largely retreated from enforcement and regulatory work, changes that consumer advocates and Democrats now estimate have cost Americans at least $19 billion in financial relief. In a report provided to The Associated Press ahead of its release by the office of Sen. Elizabeth Warren on Monday, the authors say the CFPB harmed consumers by abandoning major consumer protections, stalling investigation and dismissing a number of ...

Tips for seeking the perfect match on four wheels

Valentine’s Day isn’t just about roses and candlelight — it’s about chemistry. The kind you feel instantly, irrationally, and sometimes against your better judgment. People have chemistry with cars too. Some lure you in with their rogue spirit and self-assurance, others charm you with confidence and poise, and a few will leave you wondering why you can’t stop thinking about them days later. The car experts at Edmunds have identified five vehicles with distinct personality traits. With a bit of matchmaking luck, perhaps one of them will be the next automotive love of your ...

EPA ends credits for automatic start-stop vehicle ignition feature

DETROIT (AP) — The Environmental Protection Agency announced an end Thursday to credits to automakers that install automatic start-stop ignition systems in their vehicles, a device intended to reduce emissions that EPA Administrator Lee Zeldin said “everyone hates.” In remarks with President Donald Trump on Thursday at the White House, Zeldin called start-stop technology the “Obama switch” and said it makes vehicles “die” at every red light and stop sign. He said the credits, which also applied to options like improved air conditioning systems, are now “over, done, ...

Cafaro names new marketing chief

Staff report The Cafaro Company on Wednesday announced the appointment of Esther Buschau as the organization’s chief marketing officer effective immediately. In a news release, the company said the move underscores Cafaro’s commitment to driving growth and innovation as it continues to strengthen its middle market dominance nationwide. In her role as CMO, Buschau will lead the organization’s strategic marketing initiatives, including the enhancement of the legacy Cafaro brand. She will oversee the evolution of the firm’s marketing function to align brand strategy with the ...

FanDuel to stop accepting credit card deposits starting March 2

The Associated Press FanDuel Sportsbook will no longer accept deposits by credit cards beginning March 2, the same step DraftKings Sportsbook took in August. FanDuel issued a statement saying this decision has been in the works. “Over the last few months, FanDuel has been evaluating the payment methods that we offer to customers and made the decision to remove credit cards as an option for our Sportsbook, casino and racing product in the United States,” the sportsbook said. “This change was made to improve the deposit experience for our customers.” Many sports bettors ...