state of New Jersey attempts to help people who work for a living , what gives????
the staff of the Ridgewood blog
Trenton NJ, in an effort to encourage and help more New Jersey workers have secure retirements, the Senate Budget and Appropriations Committee approved legislation that would provide taxpayers a gross income tax exclusion in the amount of contributions made to a qualified retirement plan.
Continue reading SHOCKER : NJ State Senate Proposes Ways to Enhance Retirement Savings
Continue reading Market Freakishly Unalarmed by Weekend Developments
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Ridgewood NJ, the Producer Price Index (wholesale prices) for final demand increased 1.0 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 0.4 percent in December 2021 and 0.9 percent in November.
Continue reading Inflation: Wholesale Prices Jump 1% , Up 9.7% For the Year
the staff of the Ridgewood blog
Jersey City NJ, Acting Attorney General Matthew J. Platkin and the Bureau of Securities today announced that a Jersey City-based financial services company, BlockFi Lending, LLC, has reached a $100 million settlement with state and federal securities regulators over the company’s offers and sales of unregistered securities in the form of interest-bearing digital asset deposit accounts called BlockFi Interest Accounts.
Inflation the largest 12-month increase since the period ending February 1982
the staff of the Ridgewood blog
Ridgewood NJ, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.5 percent before seasonal adjustment. Increases in the indexes for food, electricity, and shelter were the largest contributors to the seasonally adjusted all items increase. The food index rose 0.9 percent in January following a 0.5-percent increase in December.
Continue reading Inflation Rose at the “Faster then Expected ” Pace of 7.5%
Government Seized $3.6 Billion in Stolen Cryptocurrency Directly Linked to 2016 Hack of Virtual Currency Exchange
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New York NY, two individuals were arrested this morning in Manhattan for an alleged conspiracy to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex, a virtual currency exchange, presently valued at approximately $4.5 billion. Thus far, law enforcement has seized over $3.6 billion in cryptocurrency linked to that hack.
The crypto market is extremely volatile. This means that it is important to understand what you are investing in before pouring your hard earn cash into the virtual currency markets. Usually, when someone thinks about cryptocurrencies, they immediately associate them with high returns. Although this may be true, the cryptocurrency markets still have a lot of risks that many traders do not take into consideration when making their trades or investments. The following includes an introduction to cryptocurrency and some very important things that all traders should consider before deciding to invest in any cryptocurrencies.
Continue reading Important Things You Should Consider Before Investing In Crypto
the staff of the Ridgewood blog
Washington DC, Real gross domestic product(GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 , according to the “advance” estimate released by the Bureau of Economic Analysis. In the
third quarter, real GDP increased2.3 percent.
Continue reading GDP Grew at a Stronger than Expected 6.9% Pace
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Washington DC, the Federal Reserve kept its interest rates range at near-zero levels Wednesday but hinted at future tightening and balance sheet realignment. The Fed signaled a slow and steady approach to surging inflation.
Offshore Trusts offer a safe haven from the courts and creditors of other states and help you avoid both your own country’s tax system and their banks’ reporting requirements. Offshore trust laws provide a level of confidentiality and privacy that many people find attractive.
Your money is separate from the client operating the trust, so there is no way for the courts to make you reveal any financial information. The trustee will only disclose this information to appropriate parties.
Originally, Offshore Trusts were used by people who had concerns about their own governments and wanted to secure their assets outside the reach of their home country’s legal system. However, there are several reasons why you could set up an Offshore Trust.
Continue reading An Easy Guide To Understanding How Offshore Trusts Work
Ronald Reagan “Most Terrifying Words – ‘I’m from the government and I’m here to help.’”
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Washington DC, more bad news ,the White House is preparing to release an executive order as early as next month that will outline a comprehensive government strategy on cryptocurrencies. Many agencies have issued guidance letters, informal statements, and public rules regarding crypto laws, but these efforts have not yet been coordinated into a single document. Senior officials have met multiple times to discuss the directive and federal agencies have been studying or providing regulatory guidance around digital assets for years.
the staff of the Ridgewood blog
Ridgewood NJ, a group of institutions backed by the Federal Deposit Insurance Corp. plans to offer a new stablecoin called USDF. Founding members of the group include Synovus, New York Community Bank, and Sterling National Bank. USDF will be a bank-minted alternative to USDT and USDC. It will operate on the Provenance blockchain and be redeemable for cash from any of the group’s members. USDF aims to address the consumer protection and regulatory concerns of nonbank-issued stablecoins. What could possibly go wrong with that?
the staff of the Ridgewood blog
Ridgewood NJ, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.5 percent in December on a seasonally adjusted basis after rising 0.8 percent in November, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.0 percent before seasonal adjustment. Increases in the indexes for shelter and for used cars and trucks were the largest contributors to the seasonally adjusted all items increase. The food index also contributed, although it increased less than in recent months, rising 0.5 percent in December.
the staff of the Ridgewood blog
Washington DC, Richard H. Clarida announced on Monday his intention to resign from the Board of Governors of the Federal Reserve System on January 14, 2022. He has been a member of the Board and Vice Chair since September 17, 2018.
the staff of the Ridgewood blog
Ridgewood NJ, beginning January 1, 2022 payment platforms ,PayPal, Venmo, CashApp and Zelle will be required to issue 1099Ks to any taxpayer who receives $600 or more for transactions tagged as “Goods and Services”. This is a change from our current state of affairs which requires 1099Ks to be generated only for $20,000 of gross revenue and 200 individual transactions of this type.
