Share to Twitter Share to Linkedin By Rachel Leland, Next Avenue As aging World War II veteran Johnnie Ray Toland started showing signs of Alzheimer's, his family began searching for an assisted living home to care for him. Staff members at one home introduced the family to Tammi Palasini. Palasini, who would later be sentenced to 20 years behind bars for various crimes, including fraud, convinced the Toland family to give her control of $340,000 of their funds. Aid and Assistance Scam In what is known as an "aid and assistance scam," Palasini falsely promised the Toland family that she would help diversify their father's assets to get beneath the threshold to qualify for VA benefits and earn a return on their investment. It wasn't until after Toland's death three years later that the family learned Palasini was a scam artist who had victimized them and their father. On the same day as Toland's funeral, a postal inspector contacted … [Read more...] about How Older Veterans Can Protect Themselves From Scam Artists
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SECURE 2.0’s New Rule On IRAs And Charity Can Really Pay Off
Share to Twitter Share to Linkedin A new rule under SECURE 2.0 creates a great opportunity for IRA owners 70 ½ or older with charitable inclinations to get a prospective valuable tax benefit and keep cash flow. The current law allows a charitable distribution from an IRA for individuals age 70 ½ or older (irrespective of the new Required Minimum Distribution of age 73) to make a distribution of up to $100,000 a year directly to a qualified charity. This is called a Qualified Charitable Distribution, or QCD, and they are fantastic opportunities on their own. Now, SECURE 2.0 has introduced a provision that allows a ‘split-interest’ gift, which gives the IRA owner a tax break and provides continuing cash flow. Why a QCD is a great idea. QCDs have a lot of advantages over a conventional charitable deduction. 1. A QCD is eliminated from income, and not treated as an itemized deduction. Thus, a donor can use the standard deduction or other itemized … [Read more...] about SECURE 2.0’s New Rule On IRAs And Charity Can Really Pay Off
Judge Strikes Down Required Coverage Of Preventive Care—Cancer Screenings, Pregnancy, Medications And More
Share to Twitter Share to Linkedin Topline A federal judge in Texas struck down a provision of the Affordable Care Act that required coverage for a range of preventive services—including for cancer screenings, medications and more—ruling the task force members tasked with enforcing those preventive services were unlawfully appointed. Key Facts U.S. District Judge Reed O’Connor ruled preventive care recommendations made by the U.S. Preventive Services Task Force do not have to be complied with, and blocked the federal government from enforcing the task force’s recommendations. The task force issues recommendations for preventive care services that insurers are then forced to cover, as dictated by the provisions of the Affordable Care Act, meaning the ruling means insurance companies will no longer be bound to cover the preventive services affected. Among the preventive services affected by O’Connor’s order are screenings for breast … [Read more...] about Judge Strikes Down Required Coverage Of Preventive Care—Cancer Screenings, Pregnancy, Medications And More
Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His Father
While still CEO of now-collapsed FTX, Bankman-Fried transferred millions of dollars to his father. Some of those funds have since been used to pay for his mounting legal fees, according to two sources close to the company. By Sarah Emerson and Steven Ehrlich S am Bankman-Fried, founder of fallen cryptocurrency exchange FTX who claimed to have just $100,000 in his bank account last November, is preparing for trial in October backed by a roster of powerful attorneys. But it has remained unclear, until now, how the former billionaire would afford his pricey defense. Forbes has learned that Bankman-Fried has been paying legal fees from a multi-million dollar gift he gave his father with money borrowed from FTX’s sister company. In 2021, while CEO of FTX, Bankman-Fried made a large monetary gift to his father, Stanford Law professor Joseph Bankman, two sources with operational knowledge of both companies told Forbes . It was funded by a loan from the … [Read more...] about Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His Father
Over 60 Christian Dissidents Detained In Thailand Facing Imprisonment, Torture If Deported To China
After an early morning police raid, Chinese Christian refugees in Thailand now face imminent deportation back to China and persecution, human rights advocates told the Daily Caller News Foundation. Thai police are allegedly transporting the 63 members of the Shenzhen Holy Reformed Church, also known as the Mayflower Church, to Bangkok to be repatriated to the People’s Republic of China, Deana Brown , 68, founder of Freedom Seekers International, told the DCNF while in Thai custody. Along with church members, Thai police also arrested and confiscated the passports of Brown and fellow Texan, Stacy Nichols, 51, who’d both just arrived in Patayya, Thailand, for a week-long visit with the congregation on Thursday, Brown said. In October 2019, the Mayflower Church, led by Pastor Pan Yongguang, fled religious persecution at the hands of the CCP. After a vote, the church decided to resettle in Jeju Island, South Korea, where a travel visa would not be required for Chinese citizens, … [Read more...] about Over 60 Christian Dissidents Detained In Thailand Facing Imprisonment, Torture If Deported To China
Self-Employment Rises Among Women, Surpassing Pre-Covid Highs
Share to Twitter Share to Linkedin Self-employed women, broadly speaking, felt the full brunt of the Covid downturn at greater numbers than nearly any other group. The rate of self-employed mothers working at least 30 hours a week, for instance, dropped by more than 40% in one month from March to April 2020, according to Federal Reserve data. The rates of self-employed fathers working at least 30 hours a week dropped by 18% in comparison. That number has reversed, according to new data from the Federal Reserve Bank of Dallas . In the years that followed the initial Covid surge, the number of women and mothers that have chosen the self-employment route has steadily increased, rising faster than rates of men and fathers. Women now represent nearly 40% of all self-employed individuals, up from 34% in 2016. By August 2022, the number of self-employed women with children surpassed pre-Covid numbers as it sat 8% higher than rates seen in January 2020. These … [Read more...] about Self-Employment Rises Among Women, Surpassing Pre-Covid Highs