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Want to see a show in the West End? You'll soon need more than a passport and theater ticket. (Photo: Getty Images)
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New travel rules: UK and EU require preapproval for entry BY STEVE DINNEN If you’re jetting off to London to catch some wintertime theater, take note that starting Jan. 8, you’ll need government preapproval to enter the country. And soon thereafter, 30 more European countries will launch their own visa-like program that requires preapproval to enter. The long-considered, oft-delayed European system, known as ETIAS (European Travel Information and Authorization System) is in
response to global security concerns. A similar sentiment is guiding the United Kingdom.
Enrollment starts Nov. 27 for the UK’s system, known as ETA (electronic travel authorization). As the name implies, it’s all electronic. And it’s mandatory: no clearance, no admission. The government wants a minimal amount of information, such as a photo, and information page from your passport. The fee is 10 pounds, and the travel permit is good for two years.
On the continent, the scope of ETIAS mostly overlaps with the European Union, though it includes some
countries that aren’t members. Of the 44 European countries in all, 27 are members of the EU, 30 participate in ETIAS, and 29 are enrolled in the Schengen system, the passport control process that requires travelers to have a visa to enter Europe. (Switzerland and Norway, for example, are not members of the EU but do participate in both ETIAS and Schengen). ETIAS applies to anyone from a country not needing a Schengen Zone visa, including Americans.
Bottom line: Everyone entering the Schengen Zone country will need either a Schengen visa or a mini-me ETIAS visa.
The Europeans also have an electronic application process. They claim an approval process of minutes, though they caution it could take up to 14 days or even a month “if you are invited in for an interview.” They also caution that they may ask about criminal history, drug use and health history. If you clear this gauntlet and pay a 7-euro fee, you’ll get a three-year admission authorization.
If you’d like to read the fine print, here’s more information for both the UK program and the broader ETIAS program.
Speaking of visas, they’re more readily available now than at any time in our history. Granted, Americans can travel visa-free to most of the world’s 197 countries. But sometimes you’ll need a visa, and we now have e-visas that are easily obtained online from countries like India or Uganda. Just upload your travel information and passport page and photo into their files and — voilà! — you’re ready to go. Some countries, like Jordan and Egypt, go a little easier and issue a VOA, a visa on arrival.
When you apply for that visa, be aware that some nations accept only “M” or “F” as a gender. And while the United States will give you a passport marked X, some nations, like Saudi Arabia and the
United Arab Emirates, don’t and will not allow you to enter. They may not allow you even to pass through.
For a thorough rundown about whether you need a visa to visit a particular country, try the U.S. State Department website listing for the country you plan to visit, or check out CIBT Visas.
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Market reacts to Trump's win BY STEVE DINNEN
Winners and losers made themselves known at the opening bell on Wednesday morning, just hours after Donald Trump won the election. Incongruities sprang forth. Facing the prospect of less regulation, banks and financial services had a banner day on Wednesday. Discover Financial Services jumped 17.38%. Capital One Financial Corp. rose 15%. Investors seemed to overlook Trump’s speech in September that proposed capping credit card interest rates at 10% to give consumers a break. These two companies have about $500 billion worth of credit card debts, and average interest rates on cards now top 20%. To be clear: All these stocks with huge daily gains or losses did so based on what
might lie in store for them, good or bad, once Trump moves back into the White House. So how do Discover and Capital One notch double-digit share price gains in the face of a promise to gut them? Tesla Motors climbed 14.75%, apparently on the hunch that the new bromance between Trump and Tesla CEO Elon Musk will bring good things to the carmaker. But Tesla makes only electric vehicles, and pretty much everything tied to EVs — car producers, lithium miners, battery makers, etc. — was on the skids Wednesday. Alternative energy stocks tanked, as well. A Tesla subsidiary,
Solar City, makes all its money selling solar panels. Musk owns a huge piece of SpaceX, whose rockets Trump praised on Wednesday. But Tesla has no financial ties to SpaceX, or its subsidiary, satellite operator Starlink. Trading in Trump Media and Technology Group, the operator of Truth Media, the president-elect’s social media platform, was briefly halted on Wednesday as it shot up 35%. It settled at 35.96, a nice 5.6% gain that pegged its market capitalization at $6.8 billion. This, for a company that posts revenues of around $1 million per quarter. Incongruities, indeed.
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The 2025 tax breaks are here. See where you land. BY ASHLEA EBELING FOR THE WALL STREET JOURNAL
The brackets that determine how much Americans pay in taxes each year are moving up by their smallest amount in a few years.
It will take more income to reach each higher tax bracket after the roughly 2.8% inflation adjustment for 2025, the Internal
Revenue Service said. The annual adjustments are based on formulas tied to inflation.
This year’s adjustments slightly outpace the current inflation rate, which has been cooling. Still, average hourly earnings rose 4% from a year earlier in September, the Labor Department said.
The higher standard deduction and new income ranges for each tax bracket mean that someone who earned the same income would likely owe slightly less in taxes, though the difference may be a few hundred dollars in many cases. Inflation adjustments to estate- and gift-tax thresholds, meanwhile, can save some taxpayers hundreds of thousands of dollars.
READ MORE
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Year-end Roth IRA conversions are popular, but don't wait too long BY KATE DORE FOR CNBC
If you’re weighing a year-end Roth individual retirement account conversion, waiting too long could be risky, financial experts say.
Roth conversions move pretax or nondeductible IRA funds to a Roth IRA, which can start tax-free growth. The trade-off is upfront taxes on the converted balance, which boosts your adjusted gross income.
The strategy has become more popular, with a 46% year-over-year increase during the second quarter of 2024, according to Fidelity.
Roth conversion timing is important, particularly for those eager to complete the transaction in 2024, experts say.
Some investors want to pay Roth conversion taxes now while there are lower tax brackets because the current rates are scheduled to sunset after 2025 without action from Congress.
READ MORE
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dsmWealth's suggested reading
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Please stop with party dress codes. Your friends have bills to pay. (Washington Post)
Try the 6 to 1 grocery shopping method to save time and money (Kiplinger)
It has your money and your pants size. Here’s what PayPal is doing with them. (Wall Street Journal)
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