As 2024 progresses, taxpayers should mark their calendars for January 15, the deadline for fourth-quarter estimated tax payments. Failing to meet this crucial date can lead to additional costs in the form of penalties and fees, which can significantly complicate your tax filing experience, warns the IRS. Estimated taxes are particularly relevant for those earning
Personal
As the fog of the pandemic begins to lift, student borrowers may be pleasantly surprised to learn that their loan repayments could provide a silver lining on their 2024 tax return. The student loan interest deduction is a tax benefit designed to ease the financial burden for qualifying borrowers by allowing them to deduct interest
As 2025 unfolds, a concerning trend regarding consumer debt in the United States is becoming increasingly evident. A recent Bankrate report highlights that 48% of credit card holders now find themselves accruing debt that they carry over from month to month. This figure represents a notable increase—up from 44% at the beginning of 2024. Understandably,
As the calendar flips to 2025, many Americans are greeted with their first paycheck of the year. For some, there may be a noticeable change as a result of new federal tax law adjustments. The Internal Revenue Service (IRS) recently announced its updated federal income tax brackets for the year, implementing an increase in thresholds
In a significant step towards alleviating the financial burdens faced by millions of Americans, the Consumer Financial Protection Bureau (CFPB) has enacted a new rule that stands to remove approximately $49 billion in medical debt from credit reports. This action is poised to affect around 15 million individuals, offering them a chance to rebuild their
Target-date funds (TDFs) have established themselves as a predominant force in the landscape of retirement savings, especially in 401(k) plans. As of 2023, they accounted for a staggering 29% of the average 401(k) plan’s assets, per data from the Plan Sponsor Council of America (PSCA). This figure underscores a significant upward trend, marking an increase
Retirement planning has become an increasingly pressing issue for many Americans, particularly those who feel they are lagging behind. According to a recent CNBC poll, approximately 40% of U.S. adults are not making sufficient preparations for their financial future. However, with the onset of new rules and strategies on the horizon for 2025, it’s a
As we approach retirement in 2025, a growing number of American workers are realizing the importance of enhancing their 401(k) contributions. According to a survey conducted by Bankrate, over half of U.S. employees believe they are behind in their retirement savings journey. This sentiment is a crucial wake-up call, especially considering the upcoming changes to
The ongoing conversation surrounding student loan forgiveness in the United States has seen significant turmoil, particularly with the Biden administration’s recent withdrawal of broad debt cancellation proposals. This shift has left many borrowers feeling uncertain about their financial futures. However, experts point out that while the landscape may be challenging, ample opportunities for targeted forgiveness
As the global workforce gradually adjusts to life after the pandemic, the future of remote work remains a contentious and evolving issue. Elon Musk and Vivek Ramaswamy recently articulated a vision advocating for a reduction in the size of the federal government, emphasizing a full-time return to office work for federal employees. Their stance, presented