• You Can Max Out Your IRA Contributions for Longer Than You Might Think
    lifehacker.com
    Individual retirement accounts (IRAs) are available to anyone with taxable income, even if you have retirement benefits at work. Like other types of retirement accounts, IRAs are tax-advantaged: if you contribute to a traditional IRA, you get the benefit of a tax deduction now, while a Roth IRA can be drawn from tax-free in the future. IRA annual contribution limits are relatively low compared to other types of tax-advantaged accountsup to $7,000 in total to your IRAs for 2024 or $8,000 if you're 50 or older. If you have more than one IRAa Roth IRA and a traditional IRA, for exampleyou can make $7,000 in contributions across both, not $7,000 each. This can be split however you want, but there are limits on Roth contributions based on your income and filing status. (There are also deduction limits for traditional IRAs if you or a spouse have an employer-sponsored retirement plan.) While the deadline for contributing to some retirement accounts to gain the tax benefit is Dec. 31, you have a few extra months to make your IRA contributions. When is the IRA contribution deadline?The last day to contribute toward your IRA's annual limit is the filing deadline for that tax year. For example, you have until April 15, 2025when 2024 tax returns are dueto max out your 2024 IRA contributions. Contributions for 2025 can be made until April 15, 2026, and so on. Filing for an extension to submit your return does not extend the deadline for IRA contributions.Why you might want to max out your annual contributionsIf you haven't met your maximum for your IRA(s) in 2024 for any reasonyou opened the account later in the year or made smaller contributions throughout the year, for exampleyou can apply contributions in early 2025 as well as extra cash on hand to your 2024 limit. If you end up earning more or having additional money to invest later in the year, you'll be able to take advantage of the maximum tax benefits for both years. You may even be able to get ahead by maxing out 2025 before the end of the year and be ready to contribute a larger lump sum toward the next year right at the start of 2026 (early investing means more time for compounding to work). The best course of action for your money and investments depends on your personal situation, and it's always a good idea to consult with a tax professional before making any big decisions.How to change your preferred tax year for contributionsGenerally speaking, your IRA contributions will be applied by default to the tax year in which they are made: contributions made before Dec. 31, 2024 will go toward your 2024 limit, while those made on Jan. 1, 2025 and later will apply to 2025. If you want funds deposited on or after Jan. 1 to apply to the previous tax year, contact the brokerage that manages your account. You can likely do this proactively or retroactively up until April 15, but you'll need to find out your brokerage's process for managing tax year preferences. If you accidentally contribute over the annual limit, you also have until your return is filed to transfer or withdraw the excess. Otherwise, you'll pay a 6% tax penalty on that amount.
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  • Now Meta is trying to stop OpenAIs for-profit conversion too
    www.engadget.com
    Meta sent a letter to Californias attorney general on Thursday urging him to stop OpenAI from converting to a for-profit company, a move that Meta says would be wrong and could lead to a proliferation of similar start-up ventures that are notionally charitable until they are potentially profitable. The letter from Meta Platforms to Attorney General Rob Bonta, first reported on byThe Wall Street Journal, comes on the heels of an injunction filed by Elon Musk at the end of November that also asked for OpenAI's conversion to be blocked.Meta argues in its letter, which The Verge has published in full, that OpenAI was able to raise billions of dollars from investors under its original nonprofit mission and now wants to change its status while retaining all of the benefits that enabled it to reach the point it has today. It goes on to say, OpenAI should not be allowed to flout the law by taking and reappropriating assets it built as a charity and using them for potentially enormous private gains. The letter also calls upon the attorney general to look into OpenAIs past practices as a nonprofit. Engadget has reached out to OpenAI for comment.Metas letter also voices support for Elon Musk and Shivon Zilis to represent public interests in Musks lawsuit against OpenAI, which was revived in August. On Friday, OpenAI published a timeline citing emails and other communications from Elon Musk to show how he previously pushed for OpenAI to become a for-profit with him at the helm.In a statement shared with The Verge in response to Meta's letter, OpenAI board chair Bret Taylor said, While our work remains ongoing as we continue to consult independent financial and legal advisors, any potential restructuring would ensure the nonprofit continues to exist and thrive, and receives full value for its current stake in the OpenAI for-profit with an enhanced ability to pursue its mission.This article originally appeared on Engadget at https://www.engadget.com/big-tech/now-meta-is-trying-to-stop-openais-for-profit-conversion-too-181623327.html?src=rss
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  • A US Congressman tried (and failed) to fake his Spotify Wrapped for political gain
    www.engadget.com
    There are some things you just dont do in certain parts of the US. You dont use inferior salsa during a cattle drive in Texas. You dont eat pizza with a knife and fork in New York City. You dont yell Belichick is a big, fat cheater! in a crowded Boston bar (even if it happens to be true).And if youre in New Jersey or just America in general, you NEVER take the holy name of Bruce Springsteen in vain in ANY manner. So its bewildering why one New Jersey representative would even think about faking his listening habits when it comes to The Boss.9to5Mac spotted a curious looking post on X from US Rep. Josh Gottheimer (D-NJ). The congressman shared what appeared to be his Spotify Wrapped playlist for the year, with one list consisting of Springsteens classic tracks like Glory Days and Thunder Road and the other filled with tracks from various hip hop stars. He tried to cement his esteem for Springsteen in his post by saying his first ever concert was at Meadowlands to see The Boss! Well, it didnt take long for the internet and anyone whos ever used Spotify to figure out that he faked the whole list just to kiss up to his constituents.Yikes pic.twitter.com/bTEkSodA9u Sebastian (@SebastianRios68) December 9, 2024 Gottheimers list included such glaring mistakes as inconsistent font sizes, improper spacing between the albums on his lists and the fact that both lists were titled Your top songs even though one only had Springsteen albums. He didnt even use the same font type or size for all of his track and album entries.So how did Gottheimer handle this musical faux pas with the press? He dug in his heels on his Springsteen tracks and blamed his two kids for the rest. He admitted to NJ Advance Media that he made a fake Spotify Wrapped list but says the tracks on each list are accurate because he shares an account with his children because thats easier than going back in time and setting up a family plan.This would be my Spotify Wrapped if I didnt share my account with my 12 and 15-year old kids, Gottheimer told the outlet. While its Springsteen all day for me dont get me wrong, I still love listening to Taylor Swift!Gottheimer has since taken the post down and replaced it with a list of his most listened to Springsteen tracks. Hes trying to save face because hes in a heated race for governor and if you want a solid shot at moving into New Jerseys governor mansion, then you need to make your love for The Boss known far and wide across the Garden State. If Gottheimer is also going for the Dad who makes his kids cringe at their music choices vote, then hes a lock.This article originally appeared on Engadget at https://www.engadget.com/social-media/a-us-congressman-tried-and-failed-to-fake-his-spotify-wrapped-for-political-gain-205516508.html?src=rss
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  • EU citizens are enthusiastic about AI use in law enforcement, but some fear it is a danger to democracy
    www.techradar.com
    Europeans show enthusiasm for AI in law enforcement, yet there are concerns about its influence on elections and misinformation.
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  • Hugging Face launches an open source tool for affordable AI deployment
    www.techradar.com
    Hugging Face launches Generative AI Services (HUGS), offering zero-configuration deployment and flexible pricing for developers.
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  • TSMC says first advanced U.S. chip plant 'dang near back' on schedule. Here's an inside look at the Arizona fab
    www.cnbc.com
    Apple will be the largest customer at TSMC's new Arizona chip fab, which the Taiwanese company says is 'dang near back' on schedule. Here's an inside look.
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  • Elon Musk reveals SEC sent him 'settlement demand' after Twitter buyout probe
    www.cnbc.com
    The U.S. Securities and Exchange Commission has issued a "settlement demand" to Elon Musk, the tech billionaire revealed in a social media post on Thursday.
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  • The cold December full moon, the last one of 2024, coincides with a rare lunar standstill: Heres the best time to see it
    www.fastcompany.com
    Life is full of beginnings and endings.As we wind down 2024, the end of the year still has some special moments in store for us. Be sure to look up at the night sky this weekend to catch the final full moon of the year, which is also dubbed the cold moon by the Old Farmers Almanac. This majestic celestial display is 18.6 years in the making as the moon is at its extreme points in orbit. Lets break it all down and look at the peak viewing time:Why is the December full moon cold?Historically, the phases of the moon were used to track the seasons. The names of the full moons were first recorded in the Maine Farmers Almanac in the 1930s. The monikers were partly inspired by the Native American and colonial-American cultures.Each moon has multiple names. Decembers full moon is best known as the cold moon. As NASA points out, this Mohawk name helps describe the chilly temperature of winter. It also goes by frost moon or the winter moon. Old European names include the Moon before Yule and the oak moon.What makes this full moon so special?The cold moon coincides with a major lunar standstill. This means that when the satellite rises in the east and sets in the west, it will be at its most northerly or southerly positions. Both the moons orbit and the Earths axis of rotation are titled, making this possible.Over an 18.6-year cycle, the moons orbit wobbles, which shifts the rise and setting points across the horizon. During the last three years of this movement, the moon appears to pause, creating the standstill.What is the best way to see the December cold moon?According to the Old Farmers Almanac, the cold moon will shine brightest on Sunday, December 15, at 4:02 a.m. ET. That doesnt mean you have to get out of bed in the wee hours of the morning: To the naked eye, the moon will appear full from Saturday, December 14, through Monday, December 16.If youd like to witness the major lunar standstill, this handy tool from Time and Date can help you find the exact moonrise and moonset times for your location.This full moon presents an exciting opportunity for archaeologists who are hoping to use the natural phenomenon to better understand prehistoric monuments. English Heritage, the organization that manages Stonehenge, has been researching the lunar standstill, for example. You can also watch a previous standstill at Calanais, another standing-stone monument in Scotland, and live out your Outlander dreams.
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  • Old hockey cards and a Rembrandt-ish painting: Some attic treasures are auctioned for millions
    www.fastcompany.com
    Kaja Veilleux has been hunting New England attic treasures for more than 50 years. He once found a copy of the Declaration of Independence sitting on a pile of trash, and he made headlines this year when he stumbled upon a million-dollar portrait gathering dust in an old farmhouse in Maine that may have been painted by the Dutch master Rembrandt.Then there was the time, Veilleux said, he was shown a $50,000 gold coin kicking around in a tool draweronly to have the well-meaning owner destroy much of its value before he could auction it by using a scouring pad to clean itand scratch it.Its like a treasure hunt every day, Veilleux said with a chuckle.Many people dream of cashing in on some dusty, old heirloom. In October, three sisters from Ohiosold a rare dimefor more than half a million dollars. Two years ago, a case ofold hockey cardsfound in a Canadian home sold for more than $3.7 million.Veilleux, 73, helps people sort gems from junk when he appraises furniture, antiques and art by using his knowledge of what similar items have sold for in the past. But art auctions can be fickle. Who could have guessed abanana duct-taped to a wallcould sell for more than $6 million?A fake provided an early lessonVeilleux started collecting coins at age 8 and soon found he had a good memory for visual objects. His training for a career in antique dealing has all been on the job, he said, including a lesson he learned early when he spent most of the money he had at the time on bidding for a beautiful miniature painting.When he got home from the auction and looked at the artwork under a magnifying glass, he realized it was a print, with dabs of paint added to make it look genuine.I paid $350 for a $35 object, which always taught me to look at things very carefully, Veilleux said.In the late 1990s, he was at a house call in South Freeport, Maine. It was a hoarders house, he said, where piles of trash were awaiting their trip to an already-full dumpster. Atop one pile, Veilleux spotted what was later confirmed to be a 1776 copy of the Declaration of Independence.He auctioned it for $99,000 but the state of Maine sued to take possession of the document, and won. That meant both the buyer and seller ended up missing out.A possible Rembrandt is found in MaineThis years artwork find was his most valuable yet. Veilleux said he and an assistant were on a house call in Camden, Maine.We start going through the house and there were rare little things and big things everywhere, Veilleux said. Finally, we are on the third floor near the attic, and we find a stack of paintings, and in it is this beautiful portrait of a young woman by Rembrandt.The painting of a teenage girl in a black dress with a white ruffled collar was sold as after Rembrandt, meaning it was in the style of the 17th-century master but wasnt proven to be by him. The artwork sold for $1.4 million, including auction fees, indicating the buyer was willing to take a significant gamble the painting was a Rembrandtalthough it would have likely sold for many times that price with a proven provenance.People seek to value their heirloomsEach Tuesday, people bring in their heirlooms and collectors items to Veilleuxs office in Thomaston, Maine, to see what they might fetch at auction. The appraisal is free but Veilleux gets a commission if they end up selling the pieces at his Thomaston Place Auction Galleries.Erika Taylor stopped by on a recent Tuesday with two artworks her father had collected in China in the 1940s, when he was living there after escaping from Nazi Germany. One depicted a blooming peony and the other a grasshopper.She said Veilleux had given her an initial estimate of up to $30,000 for each of the artworks, based on the photographs shed shown him. But she was in for bad news.When Veilleux inspected the artworks closely, he declared they were prints, because paint would have permeated the paper.Its disappointing, Taylor said. But he has a lot of experience.Still, Taylor wasnt totally convinced and said she might seek a second opinion.Another seller, Jean Koenig, got better news. She brought in a large aquamarine ring. She said her father found the gem in a Brazilian mine and her grandmother had fashioned it into a ring, adding rubies and diamonds.Koenig ended up agreeing to auction the ring, with an estimated sales price of between $10,000 and $15,000. She plans to split the proceeds with her seven siblings.Its just been sitting in a box for years, she said. We decided it was time.By Nick Perry, Associated Press
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  • This week we picked the architecture and design highlights of 2024
    www.dezeen.com
    This week on Dezeen, we looked back at the highlights of 2024 as the year comes to an end, including the top 10 gadgets of the year.Among the projects featured in the gadget highlights were a pair ofhiking trousers that give the wearer a boost as they walk and a stretchable digital screen that can expand up to 50 per cent.We also unveiled our picks for the top 10 UK architecture projects of the year, the top 10 home interiors of the year and the top 10 cabins of the year.The proposed Legends Tower would be the tallest skyscraper in the USThe proposed tallest skyscraper in the US, Legends Tower, was back in the news this week after local airport director Jeff Mulder expressed concern about its height and safety.In a complaint to the Federal Aircraft Administration (FAA), he claimed Legends Tower's 581-metre (1,907 feet) height would create safety issues and delays for air travel.However, the tower's architect California-based studio AO has since stated it is "collaborating" with the FAA to resolve the issue.Herzog & de Meuron's design for Vancouver Art Gallery will no longer go aheadIn other North American news, Vancouver Art Gallery has abandoned its plans for a new building by Swiss architecture studioHerzog & de Meuron after almost a decade.The institution cited financial concerns as the reason for the decision. Herzog & de Meuron's renders of the project showed copper-clad stacked volumes protruding from a mass-timber structure.A new luxury hotel is set to be erected on the site of the Nakagin Capsule Tower, picturedIn Japan, renders were released of the luxury Pullman Tokyo Ginza hotel, which is set to be built on the site of the Nakagin Capsule Tower an iconic example of the metabolism architecture style.Readers' opinions were divided on the decision to erect what some called an "uninspired and generic" hotel on the site of the building, which was demolished in 2022.Pantone's colour of the year was discussed in an opinion piece this weekIn an opinion piece this week, Michelle Ogundehin discussed the Pantone colour of the year for 2025, an "unremarkable mid-brown called Mocha Mousse."The colour, which was unveiled last week, "reflects the triumph of manipulative marketing for greed over need," she said. "I believe this may be a classic exemplar of enshittification, in both story and hue."Healthcare facilities will be placed under a canopy at Jawaher Boston Medical DistrictDesigns for the Jawaher Boston Medical District in Sharjah, UAE, by Renzo Piano Building Workshop were also unveiled this week.The renders show healthcare facilities located inside a large tree-filled park, which will measure 1,000 metres by 500 metres and have a canopy at its centre.White Arkitekter has completed a sculptural water tower in SwedenPopular projects featured on Dezeen this week included a sculptural water tower in Sweden by White Arkitekter, an "architecturally unique" London home and a So Paulo penthouse designed by Philippe Starck.This week's lookbook featured interiors with gold and silver accents to ring in the festive season.This week on DezeenThis week on Dezeenis our regular roundup of the week's top news stories.Subscribe to our newslettersto be sure you don't miss anything.The post This week we picked the architecture and design highlights of 2024 appeared first on Dezeen.
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