Nothing wrong with delegation: According to a recent Empower survey, 15% of Gen Z is having their parents file their taxes this year.

But for real, the deadline to file your 2022 tax return is just around the corner on April 18. Whoever you tap to help with your taxes – free government online software, an accountant, or if it’s all up to you – the sooner you file the sooner you may have a little extra cash for your money goals.

— The Editors  

Just keep spinning: Not ready to hand over the keys of your combustion engine vehicle but also low-key stressed about climate change? A new bill introduced in Congress would provide up to $1,500 in tax rebates for the purchase of an electric bike.* The program is modeled after a similar initiative in Denver, Colorado, estimated to have cut 2,040 metric tons of carbon dioxide from the atmosphere in 2022.

Surprise: OPEC+ made an unexpected announcement Sunday that it would be cutting oil production by 1 million barrels per day (or 1% of the world’s supply). Even that small adjustment has pushed per-barrel cost of crude oil from $60-$70 to over $80. Analysts say OPEC+ is hedging bets against a potential recession and drop in oil demand. While gas prices will likely go up, they aren’t anticipated to reach 2022 extremes.

Fast food woes: Despite reporting 10.9% sales growth over the past 13 months, McDonald's is preparing for layoffs. The fast food chain temporarily closed its U.S. corporate offices* this week so employees could work from home “to ensure comfort and confidentiality” during staffing notifications. The company currently has 150,000 employees, with 70% located outside the U.S.

It’s a great week to be a sports fan

Monday saw UConn’s victory in the NCAA championship, the Stanley Cup playoff bracket is almost finalized and baseball teams across the U.S. are hosting their Opening Day celebrations.

For those looking to make a wager on the outcome of a match, the proliferation of online sports betting is changing, well, the game.

The American Gaming Association (AGA) recently reported that more than 46 million Americans planned to place a bet* during the 2022 NFL season. And since 2018, the year the Supreme Court overturned a law that banned sports betting, more than $180.2 billion in bets* have been placed in the 36 states* with a form of legalized gambling.

If you’re thinking about making a bet on a game this summer, there are a few things to consider. First, the AGA has a resource site to encourage responsible gambling*. You may also want to note that winnings are taxable – especially if you’ve won $600 or more* betting on a game.

And if you do win some extra cash, we have a few thoughts on how to make that money work for you.

*Empower Retirement, LLC and its affiliates are not affiliated with the author or responsible for the third-party content provided from links to external material.

As of April 4 2023 EAG does not holds shares of MCD in advisory client accounts.