Things To Do In SW Florida

By CORA LEWIS

NEW YORK (AP) — If your life has been upended by a wildfire, hurricane, flood, tornado, or another disaster this past year, the IRS recognizes that you may need more time to file your taxes and grants you an automatic extension beyond the normal filing deadline, which is Tuesday.

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You’re also permitted to write off a certain amount of loss due to disaster, reducing your tax burden. That could be damaged property, lost income, or small business losses.

“It can feel really daunting and overwhelming, after you’ve already lost your home or your vehicle, to tackle that project (of loss write-off). It can take time and a lot of energy,” said Alison Flores, manager at the Tax Institute for H&R Block. “We see people be hesitant to tackle that, and so they leave that loss on the table.” read more

For many tax filers, state and federal income taxes are due Tuesday.

If you are done working on your 2024 taxes, congratulations.

If you have not, the last-minute tax filing tips below, from one San Diego finance professional and the Internal Revenue Service, could make the coming days a little bit less of a drag.

Insights from a finance pro

Levi Anderson, a financial planning manager with the San Diego office EP Wealth Advisors, a fee-only, fiduciary firm, shared some insights and reminders for anyone still working on their taxes, whether alone or with a tax professional.

1. If you’re filing an extension, you still have to pay your tax balance by Tuesday’s tax deadline, Anderson said. “If you are filing an extension, be aware that taxes are due on the original tax deadline although you are filing an extension,” he said. “Although the penalty for ‘Failure-to-Pay’ is less than the ‘Failure-to-File’ penalty, the penalty and interest can add up if you wait until later to pay your taxes you owe.”
2. It’s not too late to contribute to your 2024 retirement accounts — even though we are four months into 2025. Those contributions could reduce your taxable income. “Making a last-minute contribution to these accounts still can count for the 2024 tax year until April 15th. Just be sure you note it as a 2024 contribution when you make it,” Anderson said.

IRS resources for last-minute filers

For last-minute filers looking for free filing resources, qualified taxpayers can still use IRS Direct File and IRS Free File. “Additionally, anyone can use IRS Free File to submit an extension of time to file regardless of their income,” the agency says on its website. Link: irs.gov/filing/file-an-extension-through-irs-free-file

The IRS has a searchable FAQ page with links to almost 60 questions and answers, including “Should I file an amended return?” and “How do I correct an excess salary deferral to my 401(k)?” and a series of questions about payments and distributions dubbed “Is it taxable?” Link: irs.gov/help/ita read more

By SARAH PARVINI, AP Technology Writer

LOS ANGELES (AP) — Nvidia announced Monday that it will produce its artificial intelligence super computers in the United States for the first time.

The tech giant said it has commissioned more than one million square feet of manufacturing space to build and test its specialized Blackwell chips in Arizona and AI supercomputers in Texas — part of an investment the company said will produce up to half a trillion dollars of AI infrastructure in the next four years.

“The engines of the world’s AI infrastructure are being built in the United States for the first time,” Nvidia founder Jensen Huang said in a statement. “Adding American manufacturing helps us better meet the incredible and growing demand for AI chips and supercomputers, strengthens our supply chain and boosts our resiliency.”

Nvidia’s announcement comes as the Trump administration has said that tariff exemptions on electronics like smartphones and laptops are only a temporary reprieve until officials develop a new tariff approach specific to the semiconductor industry. read more

By NICHOLAS RICCARDI

SAN JOSE, Calif. (AP) — Like many in the tech industry, Jeremy Lyons used to think of himself as a relatively apolitical guy.

The only time he had participated in a demonstration before now was in the opening days of Donald Trump’s first presidential term, when he joined fellow Google workers walking out of the company’s Silicon Valley campus to protest immigration restrictions. Google’s co-founder and its chief executive officer joined them.

Last weekend was Lyons’ second, also against Trump, but it had a very different feel.

The man directing thousands of marchers with a bullhorn in downtown San Jose on April 5 was another tech worker who would not give his full name for fear of being identified by Trump backers. Marchers were urged not to harass drivers of Tesla vehicles, which have gone from a symbol of Silicon Valley’s environmental futurism to a pro-Trump icon. And no tech executives were anywhere to be seen, only months after several had joined Trump at his January inauguration. read more

As a homeowner, you likely have a lot more equity in your house than you did just a few years ago.

U.S. homeowners gained almost $3 trillion in equity in the fourth quarter of 2024 compared to the previous year, according to data from the Federal Reserve Bank of St. Louis.

While your home equity shouldn’t be the first place you go to cover a cash shortfall, a home equity line of credit (HELOC) can be a useful resource in a short-term financial crisis.

How to know if a HELOC is the best move for your emergency

Before applying for a HELOC, consider whether it makes the most sense for your financial situation. HELOCs and other home equity products use your home as collateral, meaning you could lose it to foreclosure if you can’t keep up with your monthly payments.

If your emergency poses a long-term threat to your financial stability, a HELOC may be more risk than reward. However, if there’s a clear end in sight and you just need to get over an expensive hill, a HELOC could be the right move.

For example, you could be planning a leave of absence from work for medical reasons but know that you’ll return within a few weeks or months. Even with emergency savings and insurance, you could find yourself in a “short-term cash crunch,” says Thomas Carson McLean, certified financial planner and founder of Altruist Wealth Management in Charlotte, NC. In this case, a HELOC could act as a financial bridge until you’re back to work. read more