All Wright scores 26 and Valparaiso earns 93-77 win over Central MichiganIf you’re sitting on a pile of travel or credit card rewards with no immediate travel plans, donating them to a charity is an easy way to have a positive impact. And it's a popular way to give: In 2021, Alaska Airlines Mileage Plan members donated around 94 million miles to charities at an approximate cash value of $2.6 million, according to the airline. Beyond the social benefits, miles donations also qualify as activity on your loyalty account and can prevent the rest of your rewards from expiring . But if you’re in the habit of maximizing points and miles, you might also want to stretch the value of your charitable donations as far as possible. And by that measure, some methods of donating points and miles fall short. Here’s what to consider before donating your miles and points . Many loyalty programs make it easy to redeem your points and miles for a donation directly through their rewards portals. But some portals — especially those from airline and hotel programs — don’t publish the cash value a charity will receive for your miles or points. That means the charity may receive less value for your donation than you’d think, while also making it hard to compare the value of a donation with the value of other options for redeeming your points. Best Western Rewards is one of the few loyalty programs that publishes a cash value for charitable points donations. The charity will receive $2 for every 500 points you donate, for a point a value of 0.4 cent each. NerdWallet values Best Western points at 0.6 cent apiece, so you would receive 33% less value for your donation relative to using them for a hotel stay. Generally, the Internal Revenue Service (IRS) doesn’t count points and miles as a source of income, so if you donate them, you can't deduct the cash value of your gift. This lack of favorable tax treatment for the consumer combined with the uncertain value you’ll often receive for miles and points donations should have you at least consider other avenues for your philanthropic endeavors. Keep in mind that this drawback only matters for taxpayers who itemize deductions on their income tax returns. If you're like most people and take the standard deduction instead of itemizing, you wouldn't be able to get a charitable tax deduction from any donation. Some rewards programs have a minimum donation amount for select charities. For example, you’d have to donate at least 2,000 Southwest Rapid Rewards points for a donation to the Make-A-Wish Foundation. That minimum amount makes it tougher to donate points that may be collecting dust in your loyalty account. To maximize the value of your donation, consider a charity that books travel directly with your miles or points rather than donating directly through your loyalty program's portal. For example, Miles4Migrants uses donated airline miles and credit card points to directly book award travel for refugees and asylum seekers. “Instead of maximizing points and miles to book a dream trip, we do it to help refugees reach safe new beginnings,” said Patrick Stouffer, partnerships manager at Miles4Migrants, in an email. Miles4Migrants has redeemed over 775 million donated miles in pursuit of their mission, with a cash value of over $17 million. That expertise allows them to get more value out of every donation. “Our team has the specialized knowledge necessary to stretch the value of every point or mile, ensuring donations go as far as possible,” Stouffer said. “Even if you aren’t able to reap any tax advantages of donating your points, at least you’ll know they made the largest possible impact.” Direct cash donations help avoid the downsides of donating miles and points. If you have a credit card that earns cash back , or if you earn cash rewards through a shopping portal like TopCashBack or Rakuten , consider cashing out and donating those rewards instead of your miles and points. With a cash donation, you’ll know the exact value a charity will receive from your donation and likely qualify for a potential itemized deduction on your taxes. Some rewards programs make this process simple and transparent. Travel rewards programs sometimes incentivize charitable giving by offering bonus points for your cash donations. For example, American Airlines offers 10 AAdvantage miles for every dollar members contribute to the charity Stand Up To Cancer. That extra incentive can be an individual boon for your charitable donation. Just be aware that any points or miles you receive from such promotions will reduce the tax deductibility of your contribution. American Airlines values those bonus miles you receive through donations at 3 cents each. So if you donate $100 and receive 1,000 AAdvantage miles, American values those miles at $30. You’ll receive a tax form declaring those rewards as $30 in income, giving you a qualifying tax deduction of $70. When you donate cash and receive bonus points, the charity still receives your full donation and you get a slug of points. While you'll have to pay taxes on those points, it can still be a big win for your future travel plans. More From NerdWallet Craig Joseph writes for NerdWallet. Email: cjoseph@nerdwallet.com . The article Should You Donate Your Points and Miles to Charity? originally appeared on NerdWallet.
New York Representative Mike Lawler warned fellow Republicans against moving to topple House Speaker Mike Johnson, saying they’d be “playing with fire” and wasting time just as President-elect Donald Trump takes office. With the speakership vote scheduled for Jan. 3, Johnson has faced criticism from some ultraconservative lawmakers after backing a temporary spending deal that didn’t include Trump’s initial demand for lifting the U.S. debt ceiling. “The fact is that these folks are playing with fire,” Lawler said on ABC’s “This Week.” “And if they think they’re somehow going to get a more conservative speaker, they’re kidding themselves.” Republicans can count on 219 House seats, Lawler said, and need 218 votes to elect a speaker without Democratic support. GOP congressman Thomas Massie of Kentucky has said he won’t support Johnson. A factional fight among House Republicans last year led to Kevin McCarthy’s removal as House speaker, which Lawler called “the single stupidest thing I’ve ever seen in politics.” “With that said, removing Mike Johnson would equally be as stupid,” he said. Trump’s decisive election victory in November and his sway over House Republicans means he could wield his power to try to install someone else as speaker, though he hasn’t taken a public stand on Johnson’s future. “We can’t get anything done unless we have a speaker, including certifying President Trump’s election on Jan. 6,” Lawler said. “So to waste time over a nonsensical intramural food fight is a joke.”
Max George has had "a rough day" in hospital. The 36-year-old pop star - who is best known for being part of the boyband The Wanted alongside Siva Kaneswaran, Nathan Sykes, Jay McGuinness and the late Tom Parker - took to social media earlier this week to tell fans that he would need surgery over a sudden heart problem and shared another update with fans on Friday (13.12.24) evening. Speaking in a new video posted to Instagram, he said: ""I've had a bit of a rough day today. "My heart rate dropped this morning, which was a little bit scary. But everyone here's amazing and they managed to get it back up a little bit and get it stable again, which is great. "A lot of friends and family are asking why I'm not just going in and having anything done yet, but there's so many tests that need to be done before we do anything." "I just need to get through to next week and have all the tests done, then they'll know exactly what to do." The 'Glad You Came' hitmaker concluded his message by noting that he is determined to stay positive amid the ordeal. He said: "Obviously they'll be able to do something but it'll be better doing it with all the information they need. But year, it's s**** But still here and staying positive." In his initial post to Instagram, Max - who is currently dating former soap actress Maisie Smith - revealed that he will be spending Christmas in hospital. He wrote on Instagram: "Yesterday I felt really unwell and was taken in to hospital. Unfortunately after some tests they’ve found that I have some issues with my heart. "I have a lot more tests to determine the extent of the problems and what surgery I will need to get me back on my feet. "It’s gonna be a difficult few weeks / months... and Christmas in a hospital bed wasn’t exactly what I had planned! "But, as always, I’m surrounded with love and support from my wonderful partner Maisie, her family, my family and friends.. and I’m 100% in the best place. "Although this is a huge shock and no doubt a set back, it’s something I’ll take on with all I’ve got! I count myself very lucky that this was caught when it was. "Apologies if I bore you with updates in the coming weeks..I’ve probably got a month in a bed and there’s not THAT much to do!"
Magnus Carlsen To Participate at FIDE World Blitz Championship 2024 After Dispute Over Jeans is ResolvedNone
Major stock indexes on Wall Street drifted to a mixed finish Friday, capping a rare bumpy week for the market. The S&P 500 ended essentially flat, down less than 0.1%, after wavering between tiny gains and losses most of the day. The benchmark index posted a loss for the week, its first after three straight weekly gains. The Dow Jones Industrial Average slipped 0.2%, while the Nasdaq composite rose 0.1%, ending just below the record high it set on Wednesday. There were more than twice as many decliners than gainers on the New York Stock Exchange. Gains in technology stocks helped temper losses in communication services, financials and other sectors of the market. Broadcom surged 24.4% for the biggest gain in the S&P 500 after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Some tech stocks were a drag on the market. Nvidia fell 2.2%, Meta Platforms dropped 1.7% and Google parent Alphabet slid 1.1%. Among the market's other decliners were Airbnb, which fell 4.7% for the biggest loss in the S&P 500, and Charles Schwab, which closed 4% lower. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 17% after raising its forecast for revenue growth for the year. All told, the S&P 500 lost 0.16 points to close at 6,051.09. The Dow dropped 86.06 points to 43,828.06. The Nasdaq rose 23.88 points to 19,926.72. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to 57 all-time highs so far this year . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.40% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower.