Wealth Club

Dear Moneyist:

My husband recently inherited a big sum of money when his father passed away. His father left 75% of his estate to my husband, which is worth around $3 million. My husband has been having an affair for some time now. I will confront him about it soon, and after that, I intend to divorce him.

What rights do I have to his inheritance? We have five children together and I went through a lot with him for many years and I want to punish him for going behind my back and having an affair. I know I’m a bitter and scorned wife, but what are my rights with his inheritance?

Lucy in Delaware

Dear Lucy:

Ten U.S. states have community property laws where assets acquired during a marriage are divided 50/50. Delaware, however, is not one of them. It’s an “equitable distribution” state, meaning you both get what a judge deems fair and appropriate. In Delaware, a divorce court would likely divide the assets based on what is fair and equitable. However, your husband would likely keep his inheritance if the money is not co-mingled as inheritance is not typically considered marital property. Given that you have borne him five children and, from what I can glean from your letter, have endured some bad behavior, you still have a good case for at least 50/50 of what remains.

That said, Delaware also takes anticipated inheritances into account when dividing assets — so even if your husband has not received his money and he keeps all $3 million inheritance — it could still be a factor deciding how much you both walk away with in the event of a divorce. (If I were advising your husband, I’d say keep the paperwork.)

Related video: More Americans Relying On Inheritance For Retirement (provided by CBS Los Angeles)

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In Delaware, you could receive more of the marital property if you can prove that your husband was cruel or unfaithful, and whether there is a big gap in your wealth and earnings after you divorce. Your age differences and health may also play a part. (Other states like California are what’s known as “no fault” divorce states, meaning bad behavior does not necessarily result in larger payouts.)

Talk to a lawyer. Then talk to your husband. Ask him, “Are you having an affair?” If he says no, present him with your evidence. Tell him that you raised five children together and you both did the best you could for many of those years and that it’s time to be honest with each other now and, despite what has happened during your marriage, say you owe it to yourselves to show respect to the people you were when you first met. Bring him back to the moment he proposed and tell him that you want to end this marriage with the same dignity and respect that you brought into it. It’s not good to remain in a marriage where you are resentful and unhappy.

Take heart: You’re not the only person who has written about marital infidelity. This unfaithful and soon-to-be-divorced partner lamented the financial consequences of his decision. There will always be a reason to wait. Don’t be like this acrimonious couple. Start the process today, if you are sure you want to divorce him. The rest of your life awaits.

Do you have questions about inheritance, tipping, weddings, family feuds, friends or any tricky issues relating to manners and money? Send them to the Moneyist and please include the state where you live (no full names will be used). 

In the recently concluded 5-day festive season sale, Flipkart captured highest market share at 51 per cent, driven by sales in mobiles and fashion categories. Amazon's market share for the same period stood at 32 per cent, with the rest of the e-commerce industry accounting for 17 per cent, reveals a report from RedSeer Consulting, a research and advisory firm focused on the consumer internet market.

“E-tailers generated their highest ever sale performance over the five festive days generating Rs 15,000 crore in GMV or $2.3 billion in sales (at $1=Rs 65) compared to $1.4 billion generated in 2017 sale, registering a year-on-year growth of 64 per cent. Flipkart accounted for more than half of the GMV for the entire industry. Between just Flipkart and Amazon, the share is 62 per cent and 38 per cent respectively” said Ujjwal Chaudhry, Engagement Manager, RedSeer Consulting. A week before the festive sale began, RedSeer had forecast sales of $2.5 - $3 bn for the industry.

Despite large investments by both Flipkart and Amazon in supply chain and affordability initiatives like debit card EMIs, Consumer Electronics lagged behind expectations and grew by only 45 per cent, while fashion and smartphone categories grew by 78 per cent and 70 per cent respectively.

The second day of the five-day festive sale was the biggest in terms of GMV as it saw the launch of multiple new exclusives in mobile phones and offers on other platforms as well. After the second day, GMV growth slowed down a bit with the last three days of the sale accounting for only 42 per cent of sales compared to 60 per cent in the first two days. Last year's GMV for the entire sale period was surpassed by the end of the second day.

“Sixty four per cent growth compared to last year bodes well for the industry. Mobiles and Consumer Electronics continue to account for more than 75 per cent of festive sales. This year saw higher participation by fashion shoppers which made it the fastest growing vertical” observed Chaudhry.

However, Flipkart's CEO Kalyan Krishnamurthy, in a statement said “We have recorded over 70 per cent share of the entire Indian e-commerce market, matching the scale of global marquee retail events. We pushed the boundaries on many fronts and hit some of our biggest-ever numbers. From selling 1 million mobile phones in the first hour of sale to establishing Flipkart as India’s fashion hub, we demonstrated our position as market leader with no clear competition.”

Amit Agarwal, Senior Vice President and Country Head, Amazon India said “We have received an overwhelming response to the fifth Great Indian Festival, with sales in the first 36 hours nearly surpassing entire first wave last year and the event exceeding our most aggressive plans across all categories. With 3x times surge in Prime member sign-ups across the country, more than 80 per cent of new customers coming from small towns and orders from 99 per cent of serviceable pin-codes in just 4 days, we are humbled that Amazon.in is trusted by India to find, discover, and buy anything online.”

NEW DELHI: You can now start filing your income tax returns (ITR) for the last financial year 2018-19 with the Income Tax department issuing ITR forms 1 and 4 from today.

"ITR 1 & 4 for AY 2019-20 is available for e-Filing. Other ITRs will be available shortly," the I-T department said on its website.

ITR-1 (Sahaj) and ITR-4 (Sugam) forms can be downloaded from the income tax e-filing website and also used for filing your tax returns online.

ITR-1 form is meant for resident and salaried individuals having total income of upto ₹50 lakh while ITR-4 form is for businessmen and individual professionals having total income of upto ₹50 lakh. HUFs and firms (other than LLP) having total income of upto ₹50 lakh can also use this form for ITR filing.

Both the ITR forms are however not meant for individuals who are either director in a company or has invested in unlisted equity shares. The I-T department has said that this has been done in a bid to clamp down on shell companies and check routing of black money.

Directors in both listed and unlisted companies will have to file their tax returns in ITR-2. It will also be mandatory for them to disclose details like Director Identification Number (DIN), Permanent Account Number (PAN), equity holding along with the names of the companies.

You also need to keep in mind that it is now compulsory for all those filing ITRs to mention Aadhaar number in the forms without which the tax returns will not be processed.

A PTI report had earlier said there has been no change in ITR-1 or Sahaj form but some sections in ITR 2, 3, 5, 6 and 7 have been rationalised.

The last date for filing ITR is July 31 for those who are not required to get their accounts audited.

It is advisable to start filing your tax returns as soon as possible to avoid any penalties for delay and also to get early tax refunds.

In 2017-18, the Income Tax department added 1.07 crore new taxpayers while the number of ‘dropped filers’ came down to 25.22 lakh. A total of 6.87 crore ITRs were filed during FY 2017-18 as compared to 5.48 crore ITRs filed during FY 2016-17, the department said.

Authored by Alex Kimani via SafeHaven.com,

Black-market traders have increasingly been tapping into an invisible network to funnel  a wide range of goods into global markets right under the noses of customs and border protection agents—to the tune of over $500 billion.  

All of the merchandise —- including luxury designer wares such as Chloé ankle boots, Chanel Le Boy bags, Saint Laurent wallets or chic Ray-Ban shades - are not authentic brand-name products but inexpensive replicas that are undeniably, shamelessly fake.

And they now command a half-trillion-dollar market that’s expanding at astronomical rates.

The market for counterfeit goods has reached alarming proportions, powered by tech-savvy traders lurking in dark corners of the internet.

According to a report by the European Union’s intellectual property office (EUIPO) and the Organization for Economic Co-operation and Development (OECD), the market for illicit goods has grown by over 100 percent over the past decade, with counterfeits accounting for 3.3 percent ($590 billion) of international trade in 2016 compared to $250 billion in 2008. Interestingly, the surge came against a backdrop of falling global trade volumes.

China leads the way

The report was compiled by analyzing thousands of customs seizures, with footwear, clothing, leather goods and IT equipment topping the list of the most frequently seized imported fakes.

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Source: The Guardian

The report also reiterated another well-known trend: China, by far, remains the biggest source of fake goods. China was the main source of counterfeit products in 9 out of 10 categories tracked by the trade watchdogs with as many as 27 percent of seized goods being traced back to the country. Other leading offenders include India, Malaysia, Pakistan, Turkey, Thailand and Vietnam.

Interestingly, the latest fake goods report seems to closely mirror another 2016  independent report titled: Social media and luxury goods counterfeit: a growing concern for government, industry and consumers worldwide that was published in the Washington Post.

Both reports identified the explosive growth in online technologies as a key reason for the proliferation in the trade in counterfeit goods.

Many counterfeit sellers are technology-savvy and use instant messenger apps such as Telegram or Whatsapp that provide end-to-end encryption to hide their nefarious activities.

They are also adept at using fake accounts, spam bots or deploy botnets to avoid being flagged by internal security systems and post thousands of images on a daily basis. If an account is exposed and blocked by Instagram, it often reappears under a new profile name sometimes in a matter of hours.

Buyers of luxury goods, beware: luxury products seem to be the category most heavily targeted by sellers of these scam products.

According to the Washington Post report, as many as 20 percent of 750,000 Instagram posts about top fashion brands that they analyzed featured illicit products with Prada, Chanel, Fendi, Louis Vuitton along with Cartier and Rolex among the most affected luxury brands.

Overall, the internet acts as a ‘giant amplifier’ that provides an almost direct line that connects producers and consumers with no filters or barriers.

The hidden psychological cost

While the internet has no doubt played a big part in expanding the fake goods business, it’s highly likely that most buyers of counterfeit products do it the traditional way - from some backstreet vendor where they can see, touch, feel, smell and readily identify them as cheap knockoffs.

It has always seemed like the fashion industry was merely engaging in marketing rhetoric when it tells us that counterfeits are bad for us. Many people who knowingly buy fake goods do it in an attempt to polish their self-image—cheaply and through deception. Yet, studies have shown that such people could be biting off more than they can chew—by incurring a huge psychological burden that makes them feel compelled to cheat in other areas of life, too.

One such study by researchers from Harvard Business School, UNC Chapel Hill and Duke University published in Scientific American, makes for compelling reading.

So maybe it’s not just a clever ruse drummed up by makers of ostentatious goods. All those dudes rocking faux Prada belts and ladies swinging plastic Birkin bags might succeed in fooling everyone but themselves.

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Chegamos a mais uma de nossas colunas semanais sobre mundo digital, tecnologia e empreendedorismo.

Nosso destaque  são as novidades do novo iPhone que a Apple lançará no próximo dia 12 de setembro.

Saiba o que esperar do novo iPhone, que será anunciado no dia 12

A Apple anunciou o dia 12 de setembro como data para seu próximo grande evento, no qual espera-se que a empresa anuncie os novos modelos do iPhone – tradicionalmente, a empresa lançar o celular na primeira quinzena de setembro. Ainda falta uma semana, mas vários rumores já apontam quais serão as novidades. De acordo com a agência de notícias Bloomberg, os aparelhos vão atender uma faixa mais ampla de preços, ferramentas e tamanhos, para terem mais apelo no mercado, disseram fontes familiarizadas com o assunto. A Apple não confirmou as informações e só dará detalhes oficiais sobre os dispositivos no dia do evento.

Além do iPhone, é provável que a Apple anuncie no evento do dia 12 um novo Apple Watch, seu relógio inteligente, e também uma nova versão do iPad Pro. Abaixo, saiba o que esperar do novo iPhone da Apple – ou melhor, dos novos iPhones, no plural.

Três novos aparelhos

A expectativa é que a Apple lance três celulares. Um deles deve ser uma nova versão do iPhone X, que possivelmente será chamado de iPhone XS, com tela OLED de 5,8 polegadas. Um outro aparelho, o provável iPhone X Plus, deve ter tela OLED de 6,5 polegadas. Esse modelo também tem sido chamado por aí de iPhone XS Max. Por fim, o modelo mais barato, que deve ser a estrela do evento, terá tela LCD de 6,1 polegadas, segundo fontes. Ambos os dispositivos com tela OLED poderão ter duas entradas para chips SIM.

Cores

De acordo com o site 9to5Mac, o modelo mais barato do novo iPhone, com tela LCD de 6,1 polegadas, será lançado em várias cores, provavelmente cinza, branco, azul, vermelho e laranja. Além disso, o iPhone de tela OLED de 6,5 polegadas estará disponível nas cores preto, branco e um novo tom de dourado.

Reconhecimento de gestos

Os três aparelhos da Apple devem ter um novo sistema de reconhecimento de gestos, que surgiu inicialmente no iPhone X. Ainda seguindo a tendência do antecessor, os novos celulares devem ter Face ID, tecnologia que permite que os usuários desbloqueiem o celular apenas olhando para ele.

Memória

Segundo o site Engadget, os modelos de tela OLED terão 4GB de memória RAM – um avanço em relação aos celulares do ano passado, que tinham 3GB. O iPhone mais barato deve ter 3GB.

Preço

É esperado que o modelo mais básico, de tela LCD, custe entre US$ 699 e US$ 799. Os dois modelos com tela OLED, entretanto, devem custar a partir de US$ 999.

O iPhone mais barato. A versão mais simples do aparelho será feita em alumínio, ao invés do aço inoxidável, para baratear a produção, segundo rumores. Além disso, o aparelho não deve ter recursos como a câmera traseira dupla e o 3D Touch. Entretanto, ele deve ter o mesmo design geral que os outros dispositivos.

Tesla sofre novo abalo com saída de executivo e vídeo de Musk fumando maconha

As ações da Tesla sofreram sua maior queda em dois anos nesta sexta-feira (7), já que a empresa foi abalada pela saída de seu gerente de contas depois de somente um mês e pelas preocupações crescentes dos investidores com o comportamento do executivo-chefe, Elon Musk, que fumou maconha durante uma transmissão pela internet.

Os investidores da montadora de veículos elétricos estão tensos depois de um agosto tumultuado, durante o qual Musk propôs e depois recuou abruptamente de um acordo de privatização.

A Tesla disse que seu gerente de contas, Dave Morton, renunciou por estar incomodado com a atenção pública e com o andamento do trabalho.

Morton, cuja saída ocorre depois de a Comissão de Valores Mobiliários e Câmbio dos Estados Unidos (SEC) iniciar um inquérito sobre o plano abortado de Musk, engrossa uma lista de executivos que deixaram a Tesla recentemente.

A Bloomberg também noticiou nesta sexta-feira que o gerente de recursos humanos, Gaby Toledano, não voltará de uma licença depois de pouco mais de um ano no cargo.

Mesmo antes de Musk surpreender ao anunciar no Twitter no dia 7 de agosto que tinha um financiamento “garantido” para um acordo de privatização, a Tesla já estava sendo questionada por investidores, analistas e operadores de venda a descoberto no momento em que se empenha em atingir suas metas de produção e diminuir seus gastos.

Morton, que entrou na Tesla em 6 de agosto, foi citado em um documento da empresa nesta sexta-feira no qual disse que acredita “muito” na Tesla e que não teve desentendimentos com sua liderança a respeito de seu relatório financeiro.

Um quarto dos usuários do Facebook deletou o aplicativo nos EUA

Cerca de um quarto dos usuários do Facebook nos Estados Unidos deletou o aplicativo do smartphone no último ano, mostra uma pesquisa da Pew Research Center divulgada esta semana.

Além disso, mais da metade (54%) dos usuários com 18 anos ou mais afirmaram ter ajustado as configurações de privacidade nos últimos 12 meses.

Quatro de 10 usuários disseram que pararam de checar a rede social por diversas semanas; e 74% dos entrevistados responderam que tomaram uma dessas ações no último ano.

A pesquisa foi realizada entre o dia 29 de maio e 11 de junho, poucos meses após o escândalo com a consultoria Cambridge Analytica, que obteve dados de 87 milhões de usuários sem consentimento, por meio de um aplicativo que coletou dados de forma irregular.

O Facebook modificou sua política de dados e tornou as configurações de privacidade mais acessíveis aos usuários. Apesar disso, ainda sofre críticas por banir publicações políticas de conservadores nos Estados Unidos.

De acordo com o Pew Research Center, a grande maioria dos republicanos acredita que, de modo geral, as redes sociais censuram discursos do seu espectro político. Não há muita diferença, entretanto, entre republicanos e democratas. A relação com o Facebook esfriou em ambos os lados.

Entre as medidas que o Facebook adotou pós-Cambridge Analytica está a possibilidade de fazer o download de dados pessoais da plataforma.

A pesquisa identificou que apenas 9% das pessoas utilizaram esse recurso. Desse grupo, 47% deletaram o aplicativo e 79% ajustaram funções de privacidade.

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