Welcome to the latest Financial Friday Round-Up, our weekly column filled with the best things for you to read, watch or listen to regarding finance around the web. Below you will information on new tax policies due to the pandemic, a guide to taxes on unemployment benefits, stories from entrepreneurs making the best of a crisis, and more.
The odd rise in meme stocks and NFTs (“non-fungible tokens”) in this first quarter of the year can be dizzying to understand. Now, the price of other collectibles has risen as well, from old sports cards to animated memes. For a glimpse inside this strange new world, check out this piece from The Economist explaining the social nature of financial markets.
The pandemic has left more Americans asking about the ins and outs of unemployment benefits and how they will affect their tax bills. The short answer is that they are taxable at a federal level as if they were wages. State tax bills, however, vary depending on where you live. For a crash course on these tax laws by state, check out this helpful Kiplinger article.
Last year’s silver linings have been emerging more and more lately as entrepreneurs come forth to tell their stories. For example, more affordable New York leases allowed some small businesses the opportunity to set up shop in places they otherwise could not have afforded. For some encouraging news, check out this Wall Street Journal profile.
So many new tax policies have passed as a result of the COVID-19 pandemic that it can be hard to keep track of them all. For a primer on a tax break that gives employers incentive to offer student loan repayments, check out this piece from Money.