Advertisement | | | Tax season is in full swing but did you know that the IRS may not tax every income source? Find out more info as you scroll down this newsletter. | | 💵 Today’s Top Stories | | | You won’t be able to miss this giant crocodile water slide. Plus, limited-run beach towels, Team Clark-approved barbeque sauce and something for your four-legged friends. Read more. |
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| | | Team Clark tells you how much you should spend on tires, the best inexpensive brands and where to shop for tires. Read more. |
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| | | Clark sold his travel agency at 31 years old and walked into a decades-long media career almost by accident. Here’s what he would’ve done if he took another path. Read more. |
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| | | Looking to get your first credit card without much credit history? The Petal Card uses a non-traditional approach to evaluate your worthiness. Read more. |
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| | 💵 The IRS Doesn’t Tax These Income Sources | Tax season can be a bummer even though we know it’s coming every year. It seems like we owe the IRS a piece of every bit of money we get. | And thanks to higher interest rates, some people are remembering for the first time in years that interest earned on savings accounts and CDs is taxable. | However, as Kiplinger pointed out, there’s a long list of income that the IRS may not tax: | Financial gifts to/from individuals ($18,000 limit per person) Charitable gifts (get receipts, depends on if you take the standard deduction or itemize) Employer-provided health insurance HSA contributions Inheritances (cash, property, etc. … income subsequently generated is taxable) Life insurance proceeds (this can get complex) Long-term care insurance payouts Disability benefits Municipal bond interest (with some exceptions)
| | 📊 Stat of the Day | 🚘️ $6,583: Average profit per new luxury vehicle in 2023. That’s more than double the average domestic vehicle brand’s per-vehicle profit of $3,132. Luxury vehicle brands are not as affected by inflation or higher interest rates. |
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| | 💰️ Deal Alert: Today’s Top Deals | | | | | 🎙️ Podcast |  | Full Show: How To Protect Your Home From Deed Theft and Are Credit Card Rewards Really Worth It? |
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| There’s a major issue in the United States and it’s getting worse: People are losing their homes to squatters. It’s really happening and your rights are limited. Can this happen to you? Clark explains the issue, your rights, and the action you need to take. Also, Team Clark often talks about using rewards credit cards, but they aren’t a fit for every wallet. Clark talks about the pros and cons of credit card rewards, and if you should consider avoiding them. | | | ☎️ Need Money Help? | The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information. | | Advertisement | | | Did You Enjoy Today’s Newsletter?Let us know what you think so we can better serve you! | |
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