Financial Connections

https://www.danpink.com/pinkcast/pinkcast-4-31-this-is-how-to-solve-problems-more-effectively-with-one-simple-change/?utm_source=Dan+Pink%27s+Newsletter&utm_campaign=ad845319d6-Pinkcast_Jan24&utm_medium=email&utm_term=0_4d8277f97a-ad845319d6-313712465

Pinkcast 4.31. This is how to solve problems more effectively with one simple change. | Daniel H. Pink LINKS AND FURTHER READING: The study mentioned in this Pinkcast is "Does Could Lead to Good? On the Road to Moral Insight," conducted by Ting Zhang, Joshua D. Margolis, and Francesca Gino.

To follow up, what if you were a victim of some sort of online investment scam? Maybe the infamous pig butchering scam where you're convinced that someone can make you money with no risk. So you give them some and then a little more money. Then, surprise, all the money is gone. You think you have a loss, but think again. If the loss doesn't qualify for the Madoff/Ponzi exception, you get no deduction for the loss. Out of luck. So let's be careful out there. Be wary of unknown text messages etc.

Are you a customer of the crypto exchange FTX? If so the IRS Ponzi rules may help you. If you have an FTX account, your taxes are going to be a mess this year! And it could be months or years before you can deduct your losses. A lot depends on whether Sam Bankman Fried is charged with a crime. A lot depends on the Bernie Madoff scandal. Of course Bernie scammed 40,000 people while FTX is probably over one million!

If the IRS classifies FTX as an investment theft loss, you may be able to deduct the full loss..... sometime. But there are a lot of rules. For now, expect to file an extension to gain more time and see what clarifications the IRS might issue.

Here's a great illustration that we can all understand. It's the Big Mac index. Prices are going up!

💰🍔 Big Mac Index Price in 💰 M3: All Money 🍔 Big Mac Index (the 🟢 green line) measured in 💰 M3: All Money (the 🔴 red line) to adjust it for inflation. See the effect of inflation on prices.

Non Sequitur by Wiley Miller for December 20, 1996 | GoComics.com Santa's 13 Days of Christmas in the Nineties. Four days before Christmas, the government gave to me...greetings of our closeness yet to be.