ALL THE MONEY NEWS YOU NEED TO KNOW | | | |
Happy Thursday, Daily Money readers! It's Bailey Schulz here with the day's top stories. |
If you're considering dining out this Thanksgiving, be prepared to pay up. While grocery costs are still high, experts warn that restaurant menu prices have risen even more drastically. |
The cost of food away from home has increased at a faster rate (about 6%) than food at home from a standard grocery trip (2.4%), according to Michael Swanson, agriculture economist with Wells Fargo Agri-Food Institute. Meanwhile, the higher wages restaurants have had to offer to get employees to return to work after the pandemic have led to increased menu prices for diners. |
"It's really hard to say to people, 'Hey it's going to be cheaper to eat for Thanksgiving this year as compared to last year," Swanson said. While Turkeys are cheaper this year compared to last November, "in general, food is not cheaper than a year ago." | Frozen turkeys are displayed Nov. 1 at a Kroger grocery store in Buckner, Missouri. Michael Clevenger/Courier Journal/ USA TODAY NETWORK |
IRS zeroes in on the taxes of uber-wealthy Americans |
What does that mean for the rest of us? |
Tax experts say middle-income Americans probably face a lower risk of audit now than at almost any time in the recent past. The IRS assures the public that audit rates will not increase for taxpayers earning less than $400,000 a year, a threshold that roughly corresponds to the top 2% of earners. |
"I don't think the average person has a single thing to worry about in terms of heightened enforcement," said Robert Nassau, a law professor and director of the Low Income Taxpayer Clinic at Syracuse University. "In fact, if anything, people like us are going to have less enforcement as the government focuses on the wealthier people." |
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Turning 15 years old this year, the seasonal favorite is joined by two new holiday coffee items: the Frosted Peppermint Chip Coffee and the Peppermint Iced Coffee. The drinks will be added to the menu for a limited time starting Nov. 13. |
How are you feeling about this holiday shopping season? |
Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. | | | | Falling turkey prices and rising restaurant costs may make Thanksgiving more affordable to have at home this year, experts say. | | | | The IRS wants to step up audits of wealthy tax evaders, leveraging a windfall in revenue from Congress. What does that mean for ordinary Americans? | | | | Chick-fil-A announced the return of its Peppermint Chip Milkshake and introduced the Peppermint Iced Coffee and Frosted Peppermint Chip Coffee. | | | | Veterans Day is Saturday, which means some places might be closed the day before the holiday. Here's what to expect. | | | | The Consumer Financial Protection Bureau wants to level the regulatory field for digital wallets that aren't operated by traditional banks. | | | | The FTC has already advised of scams targeting veterans and do-gooders this season - make sure you know where your charitable donations are going. | | | | We have a list of restaurants and other businesses where veterans and active military personnel can get free food, discounts and more. | | | | Pizza Hut, one of the world's largest pizza chains, is offering a unique and exotic dish on the menu in Hong Kong - snake pizza. | | | | Cruise lines generally charge single supplements for solo travelers, but those fees are getting easier to avoid. | | | | Wendy's is spreading holiday cheer by offering a free 6-piece chicken nuggets with any purchase every Wednesday through 2023. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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