Now Might Be Time for an EV or Solar Panels, With Federal Tax Breaks at Risk
The heyday of big federal tax breaks for Americans going green could end soon.
That means if you're considering buying a new or used electric vehicle or adding solar panels or a heat pump to your home, now is the time to grab the tax breaks.
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CBS News
13 minutes ago
- CBS News
Massive tree topples in San Mateo, crushing several cars; 1 person injured
A huge tree toppled over in San Mateo Wednesday afternoon, crushing a number of cars and completely blocking a roadway. The tree fell along South Railroad Avenue near 9th Avenue in Central San Mateo. The tree went down next to Green Fashion Nursery and smashed into vehicles parked along South Railroad. A San Mateo Police Department spokesperson said one person was treated for injuries that were not life-threatening; it was unknown if the person was taken to a hospital. At least one ambulance was seen at the location, and an independent journalist at the scene reported a child had to be extricated from a vehicle and was taken to a hospital with an unknown condition. A huge tree is seen toppled over onto cars parked on S. Railroad Avenue near 9th Avenue in San Mateo, June 3, 2025. KPIX Police said there were numerous first responders at the scene and urged people to avoid S. Railroad Avenue between 9th and 10th Avenue, as well as areas of S. B Street and S. Claremont Street near S. Railroad Avenue. There was no immediate estimate on when the tree would be cleared. This is a breaking news update. More information to be added as available.

Miami Herald
19 minutes ago
- Miami Herald
Shark Tank's Kevin O'Leary sends strong message on Social Security, ‘Ghost Money'
As Americans juggle everyday expenses such as rent or mortgage payments, transportation costs, phone bills, and groceries, many also reflect on how much they should set aside for savings and investments to ensure a stable retirement. Kevin O'Leary, a well-known entrepreneur and investor from ABC's "Shark Tank," has made a strong statement about retirement planning and Social Security. He stresses that Social Security alone is insufficient for a comfortable retirement and urges Americans to reconsider their financial strategies. Don't miss the move: Subscribe to TheStreet's free daily newsletter O'Leary advises retirees to aim for replacing about 65% of their pre-retirement income to maintain financial security in their later years. He is a firm advocate of 401(k) plans and IRAs, emphasizing their tax benefits and the value of employer-matching contributions. His financial guidance revolves around disciplined saving, minimizing debt, and adjusting lifestyle expectations to build a sustainable and secure retirement. One of the most critical points he underscores is that Social Security was never intended to serve as a retiree's primary financial safety net. Currently, the average monthly benefit sits around $1,900, translating to roughly $23,000 annually-an amount that often falls short of what retirees need for financial stability. Related: Shark Tank's Kevin O'Leary makes bold prediction on U.S. economy To strengthen their financial future, many workers turn to employer-sponsored 401(k) plans, which frequently offer company matching contributions - a valuable incentive for saving. For individuals seeking tax advantages, traditional IRAs allow pre-tax contributions, postponing taxes until withdrawals begin in retirement. Alternatively, Roth IRAs require taxes to be paid upfront but provide the benefit of tax-free withdrawals later in life. But O'Leary also offers his take on ways people can resist the urge to spend money and invest it instead. In his book, "Cold Hard Truth on Men, Women and Money," O'Leary explains his view on compound interest and what he calls "Ghost Money." "I love compound-interest charts almost as much as I love compound interest," O'Leary wrote. "There's no more tangible way to see money grow. Those charts are also a chilling way to watch money die." He then clarifies his view on Ghost Money. "Ghost Money is dead money, money wasted on stupid things, money that should have been invested instead," he wrote. "Let's put a cost on that kind of wasted money, and learn new ways to save a fortune for your retirement." More on retirement: Dave Ramsey sounds alarm for Americans on Social SecurityScott Galloway warns Americans on 401(k), US economy threatShark Tank's Kevin O'Leary has message on Social Security, 401(k)s O'Leary expands on his opinion about how Americans can save money to invest in their future retirement plans without relying exclusively on Social Security. "The average American regularly spends money automatically, unconsciously, on four common purchases: coffee, magazines, lunches, and alcohol," O'Leary explained. "What I'm going to show you is how casually money is flushed down the toilet." O'Leary highlights how small, unconscious spending habits can add up significantly over time. He points to common expenses such as purchasing two magazines per month for $10, buying coffee twice a week for $6, grabbing lunch once a week for $10, and indulging in a couple of happy hour drinks on Fridays for another $10 - all seemingly minor costs. However, O'Leary emphasizes that when these purchases are examined over a decade, assuming the costs remain constant, the financial impact becomes substantial. With 4% compounded interest factored in, the total amount spent grows considerably, illustrating how seemingly harmless spending choices can significantly affect long-term financial security. Related: Dave Ramsey sends strong message to Americans on 401(k)s Here is how O'Leary breaks down the lost financial opportunity on these expenses: "I want you to start being haunted by Ghost Money, to feel its loss when you spend on unnecessary items," O'Leary added. "I want this lost money to stand by your bed at night, like Marley over Ebenezer Scrooge, and shake its chains at your financial folly." Related: Shark Tank's Kevin O'Leary sends big Social Security message to all Americans The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.


Bloomberg
21 minutes ago
- Bloomberg
Brookfield Office Tower in LA Sells for 42% Less Than 2005 Price
A unit of Brookfield Corp. sold an office tower in downtown Los Angeles for $210 million, 42% less than its purchase price in 2005. While the deal was at a deep discount, the price-per-square foot — about $201 — topped other recent office sales downtown, according to Kevin Shannon, the Newmark Group Inc. broker who represented Brookfield. Those prices have been around $150 or less per square foot, he said.