Good morning and happy Valentine’s Day. In the Thursday newsletter’s trivia, we covered how Americans are expected to spend around $29.1 billion on Valentine's Day this year, according to the National Retail Federation.
Well, what we didn’t cover is that 31% of non-celebrators plan to splurge on a gift for themselves or treat themselves to self-care. Self-love is an investment, so whether you’re celebrating or not, treat yourself, dear reader. You deserve it.
Here’s what we’re covering today:
The new $6,000 ‘senior bonus’ deduction and how to claim it if eligible
JP Morgan hints at why it shut down Trump’s bank accounts — but is ‘debanking’ even legal in the US?
Podcaster Bobbi Althoff asked Mark Cuban for $5 million to buy a house. The billionaire’s response
If you turned 65 before the end of 2025, you may be eligible for a brand-new tax deduction worth up to $6,000 — or $12,000 for married couples.
Created under President Trump's One Big Beautiful Bill Act, the deduction is designed to give seniors extra relief on top of the standard deduction. But it's not permanent, it comes with income limits, and you'll need to claim it correctly on your return.
Here's how to make sure you don't miss it before the April 15 deadline.
■ Trivia
Candy is the most popular Valentine's Day gift, with 56% of Americans planning to buy some this year. But how many of those iconic Sweethearts conversation hearts are produced every year?
A) 800 million
B) 2 billion
C) 8 billion
D) 14 billion
Get to the end for the answer!
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JPMorgan Chase is being sued by President Donald Trump, who alleges the bank closed his and his business entities’ accounts in 2021 for political reasons.
The bank says the lawsuit has no merit and denies shutting accounts over political or religious views, pointing instead to legal or regulatory risk as grounds for closures.
The case spotlights the broader issue of “debanking” — and how tightly regulated banks decide when to cut off customers, including everyday account holders.
Podcaster Bobbi Althoff once asked Mark Cuban for $5 million to buy a house in Southern California during an episode of The Really Good Podcast. "You could give me a billion dollars right now and it probably wouldn't even affect you," she quipped. "Fine $5 million, we'll go small."
But the billionaire didn't budge. Despite finding common ground over a shared birthday and lactose intolerance, Cuban cautioned that even with a multimillion-dollar handout, California living would remain beyond her means.
Here's why he said no — and what it reveals about the true cost of homeownership.
■ More Moneywise
NEWS: Restaurants say this Trump move will cost them $168M collectively, and they're begging Congress for help. Here's why consumers may soon feel the pinch.
RETIREMENT: Retirement is supposed to be the reward after decades of hard work but these 5 things vanish once you retire. Are you prepared?
DEBT: Americans in these 3 states are drowning in debt the fastest. Here’s what’s driving it and how to keep your head above water
■ Trivia answer
Candy is the most popular Valentine's Day gift, with 56% of Americans planning to buy some this year. But how many of those iconic Sweethearts conversation hearts are produced every year?
C) 8 billion
Source: Shutterstock
That's roughly 100,000 pounds of candy hearts produced per day — and they still sell out within six weeks of hitting shelves. The most requested message? "Marry Me."
Have a great weekend!
-Moneywise