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Q. In a recent column, you indicated that I could use the qualified charitable distribution (QCD) option at 70 1/2. I am confused. I thought I did not have to take required minimum distributions (RMDs) for a few more years. If I take a QCD when I reach 70 1/2, am I required to take required minimum distributions? Why would I use the QCD option if I am not required to take required minimum distributions yet?

A. Taking a QCD at 70 1/2 does not mean that you are required to take required minimum distributions (RMDs) then. As long as you intend to make a charitable contribution at 70 1/2, there is still a tax advantage in doing so. For example, if you made a charitable contribution of $200 to a qualified charity, and your marginal tax bracket for the year you made the contribution was 22%, you would be able to save $44 in federal taxes (the amount of your contribution multiplied by your marginal tax bracket). If you used the standard deduction on your tax return, because you did not have enough deductions to itemize your deductions, using the QCD option would reduce your federal taxes. read more

A federal judge has upheld a ruling directing OpenAI to preserve logs and data slated for deletion after news outlets including the Orlando Sentinel suing the technology giant accused the company of hiding evidence of copyright infringement.

The new ruling, issued Thursday in Manhattan Federal Court, denied the company’s objection to an earlier court order directing OpenAI to keep any data used to train its artificial intelligence bots — logs which plaintiffs say may contain details of widespread content piracy.

OpenAI executives have maintained that they are merely safeguarding users’ privacy by objecting to any data retention request or order.

But lawyers for the plaintiffs said the privacy argument is nothing more than a distraction.

“This is like a magician trying to misdirect the public’s attention,” said Steven Lieberman, a lawyer representing the Sentinel and several other media outlets.

“That is absolutely false. The judge has made clear and plaintiffs have made clear that they don’t want to receive information that personally identifies the users of these conversations. If data is turned over, it will only be turned over anonymously. And OpenAI knows that. No one’s privacy it’s at risk.” read more

By KEN SWEET

NEW YORK (AP) — All the major banks passed the Federal Reserve’s annual “stress tests” of the financial system, the central bank said Friday, but the test conducted by the central bank was notably less vigorous than it had been in previous years.

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All 22 banks tested this year would have remained solvent and above the minimum thresholds to continue to operate, the Fed said, despite absorbing roughly $550 billion in theoretical losses. In the Fed’s scenario, there would be less of a rise in unemployment, less of a severe economic contraction, less of a drop in commercial real estate prices, less of a drop in housing prices, among other metrics compared to what they tested in 2024. read more

A federal judge has upheld a ruling directing OpenAI to preserve logs and data slated for deletion after news outlets including the New York Daily News suing the technology giant accused the company of hiding evidence of copyright infringement.

The new ruling, issued Thursday in Manhattan Federal Court, denied the company’s objection to an earlier court order directing OpenAI to keep any data used to train its artificial intelligence bots — logs which plaintiffs say may contain details of widespread content piracy.

OpenAI executives have maintained that they are merely safeguarding users’ privacy by objecting to any data retention request or order.

But lawyers for the plaintiffs said the privacy argument is nothing more than a distraction.

“This is like a magician trying to misdirect the public’s attention,” said Steven Lieberman, a lawyer representing the News and several other media outlets.

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The stream of haunted houses for Universal’s Halloween Horror Nights continues to trickle out, and Friday’s announcement sounds like a cool relief for folks living through another Florida summer. The maze, the seventh announced for the 2025 event, is called Galkn: Monsters of the North, and it looks cool, in the literal way.

“In a remote northern village, a wicked being rises from the dead, bringing a horde of monsters and demons from the fjords to wreak havoc on the townspeople.,” reads a post on Universal Orlando‘s social media platforms. “You’ll face icy, horned, winged and wolfish fiends that gradually merge into one giant horror. Then you’ll try to escape the belly of the beast.”

It’s the fifth (and final) original house announced within a week for HHN, which begins at Universal Studios Florida theme park on Aug. 19.

Universal Horror Unleashed picks Chicago for 2nd site

Previously announced originals include Grave of the Flesh (featuring flesh-eaters); Dolls: Let’s Play Dead (created by twisted little girl); Hatchet and Chains: Demon Bounty Hunters (spawn of Sinister Sinema 2); and El Artista: A Spanish Haunting (spooky paintings). read more