mw_logo_social-11.png

Personal Finance Daily: What the IRS doesn’t tell you about self-employment taxes and how Barbara Corcoran of ‘Shark Tank’ turned a $50,000 investment into $30 million

This post was originally published on this site

Happy Tuesday MarketWatchers. Don’t miss these top stories:

I treated my girlfriend to a vacation for paying off her car loan — how do I convince her to pay off her student debt?

‘Are these major red flags or is it just a matter of financial literacy?

Netflix agrees to edit suicide scene from ‘13 Reasons Why’ — after teen suicides spiked in months after Season 1 premiere

The television series, launched in 2017, chronicles the life of a teenage girl who decided to take her own life.

Kamala Harris wants to place ‘people over profit’ on prescription drug prices

On Tuesday, the 2020 presidential hopeful said she would have the federal government set fair prices for major prescription medications.

What the IRS doesn’t tell you about self-employment taxes

Many taxpayers get confused about whether they owe the 15.3% self-employment tax.

Why seniors should avoid the temptation to sell their investment property — even if it’s soared in value

Selling could trigger a big — but avoidable — tax bill.

How Barbara Corcoran of ‘Shark Tank’ turned a $50,000 investment into $30 million

The ‘Shark Tank’ investor tells MarketWatch that she hates spending money on clothes, doesn’t believe in resumes and won’t put her money behind anyone with ‘low energy.’

All the ways Gen X is financially wrecked

New study shows that Gen Xers have dramatically increased their debts in recent years.

Amazon is spending $700 million retraining workers, but critics say it wants ‘applause’ for addressing a problem it created

Labor unions say the company could be spending its time and energies on more immediate problems.

Here’s how Amazon Prime Day’s deals stack up against sales at Walmart, Target and Best Buy

More retailers are competing for buyers’ attention with July sales events — but not all deals are created equally.

Instagram, Facebook and Twitter struggle to contain the epidemic in online bullying

Instagram has launched a new feature to help combat inappropriate content.

Elsewhere on MarketWatch
Trump turns up trade pressure on China as he threatens Google probe

President Donald Trump on Tuesday turned up fresh pressure on China over trade with the U.S., as he vowed to “take a look” into allegations that Google’s work with Beijing is treasonous.

Fed chief Powell says he thinks core inflation picked up a bit in June

Fed Chairman Jerome Powell said Tuesday that Fed officials think core PCE inflation was 1.7% in June, up from 1.6% in May. The government won’t release the data until the end of the month.

As backlash against Trump’s ‘go back’ comments builds, here’s Ronald Reagan’s ‘love letter to immigrants’

Ronald Reagan’s final speech as president has resurfaced across social media following Trump’s tweetstorm.

Facebook’s Libra cryptocurrency project gets blistering reception from Senate

Facebook Inc.’s controversial Libra cryptocurrency project encountered a blistering reception from the Senate Banking Committee Tuesday morning despite assurances from the social-media giant that it will comply with banking regulations and offer secure transactions.

Opinion: 50 years after Apollo, does America have the right stuff to join the new space race?

Fifty years after the Apollo landing on the Moon, Paul Brandus asks if Americans can come together to conquer space again.

Retail sales pop again in June in good sign for consumer-driven U.S. economy

Sales at U.S. retailers rose solidly in June for the fourth month in a row, pointing to a strong rebound in consumer spending in the second quarter that suggests the economy is not as fragile as the Federal Reserve apparently believes.

Opinion: Crypto is an unregulated casino, where criminality runs riot

It is no surprise that the unregulated cryptocurrencies market would become the playground of con artists, criminals, and snake-oil salesmen, writes Nouriel Roubini.