If you plan on selling investments this tax year or in the future, it’s time to get acquainted with cost basis. But what is cost basis, why does the Internal Revenue Service (IRS) care about it, and how does it affect your income tax return? Let’s break it down together by looking at some frequently
Used Honda Pilots are displayed on the sales lot at Honda Marin on February 06, 2024 in San Rafael, California. Justin Sullivan | Getty Images Used vehicle prices are expected to continue to stabilize in 2025 after swinging wildly for several years before starting to calm down in 2024. Auto data and logistics firm Cox
Federal Reserve officials at their December meeting expressed concern about inflation and the impact that President-elect Donald Trump‘s policies could have, indicating that they would be moving more slowly on interest rate cuts because of the uncertainty, minutes released Wednesday showed. Without calling out Trump by name, the meeting summary featured at least four mentions
In this article EIX PCG SRE Follow your favorite stocksCREATE FREE ACCOUNT A palm tree burns as powerful winds fueling devastating wildfires in the Los Angeles area force people to evacuate, at the Eaton Fire in Altadena, California, U.S. Jan. 8, 2025. David Swanson | Reuters Fear and uncertainty surrounding the wildfires in California appear
The rally in bitcoin and other cryptocurrency prices has generated excitement among some investors, but investment advisors are largely still skeptical that those volatile assets belong in a 401(k) plan or other qualified retirement savings plans. Crypto was one of the fastest-growing categories of exchange-traded funds in 2024. The most popular of these funds, the
Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Bloomberg | Bloomberg | Getty Images As the IRS faces scrutiny from a Republican-controlled Congress, the agency’s internal watchdog has urged lawmakers to preserve taxpayer service and technology funding. The National
Keeproll | E+ | Getty Images It’s no secret that large corporations are using generative artificial intelligence to get ahead — but many small businesses are finding ways to use this technology to their advantage, too. To be clear, there’s still a large chunk (43%) of small businesses that have never even considered using gen
Residential homes in Discovery Bay, California, US, on Thursday, Nov. 7, 2024. Mortgage rates in the US increased to the highest level since July. David Paul Morris | Bloomberg | Getty Images Mortgage rates last week moved higher for the fourth week in a row. That caused already very weak mortgage demand to drop even
Filing your federal income tax return for the first time can feel intimidating. It’s common to hear other taxpayers complain about the tax process, so it’s normal to feel a bit anxious about it. But don’t worry! Filing taxes for the first time isn’t as complicated as it may seem. Most first-time tax filers have
In this article 7267.T-JP Follow your favorite stocksCREATE FREE ACCOUNT Honda 0 Saloon & Honda 0 SUV prototypes Honda LAS VEGAS — Honda Motor on Tuesday at the CES tech conference revealed the company’s newest electric vehicles that are set to be produced at a multibillion-dollar manufacturing complex in central Ohio. The vehicles are the
sturti | E+ | Getty Images The Consumer Financial Protection Bureau on Tuesday announced it has finalized a rule to remove about $49 billion in medical debt from credit reports, a change that will affect an estimated 15 million Americans. Individuals who have medical debt on their credit reports may see their credit scores increase
If you’ve received IRS Form 1098, you might be wondering how it impacts your tax return. Whether you’re a borrower with mortgage interest or a student who paid qualified tuition payments or student loan interest, you may receive Form 1098 or one of its versions. Let’s review these forms, why you received one, and how
In this article DAL UBER LYFT Follow your favorite stocksCREATE FREE ACCOUNT Travelers wait for an Uber ride-share vehicle at Los Angeles International Airport in Los Angeles on Feb. 8, 2023. Mario Tama | Getty Images Delta Air Lines will link its lucrative SkyMiles loyalty program to Uber this spring, the companies announced Tuesday, as
Damircudic | E+ | Getty Images There’s one upside to your student loan payments: they might reduce your 2024 tax bill. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid on eligible private or federal education debt. Before the Covid pandemic, nearly 13 million taxpayers took advantage of the
Taxes aren’t anyone’s favorite topic, but for nonprofit organizations, staying compliant with Internal Revenue Service (IRS) regulations is essential. IRS Form 990 is crucial for maintaining your tax-exempt status and staying transparent about how you use your funds. Thankfully, TaxAct® is here to help you file your Form 990 tax return without any unnecessary headaches.
True Religion Brand Jeans shop entrance: The company sell what they refer to as ‘premium denim’ which is handmade in America. Roberto Machado Noa | Lightrocket | Getty Images Jeans brand True Religion has been acquired by private equity firm Acon Investments and American Eagle-linked firm SB360 Capital Partners – a retail investment fund chaired
Federal Reserve Governors Michelle Bowman and Christopher Waller pose for a photo, during a break at a conference on monetary policy at Stanford University’s Hoover Institution, in Palo Alto, California, U.S. May 6, 2022. Picture taken May 6, 2022. Ann Saphir | Reuters The early departure of the Federal Reserve’s top financial regulator allows for
Just hearing those words ” estate planning ” makes most people zone out, as it’s tied to the end of their mortality, a topic they’d rather avoid. However, it’s important to consider what will happen to your personal belongings, finances and both tangible and digital assets as part of your estate plan. I would be
Simpleimages | Moment | Getty Images As the first paycheck of 2025 hits your bank account, it could have slightly more money due to IRS tax bracket changes. The IRS in October announced the federal income tax brackets for 2025, which raised each income threshold by roughly 2.8%. By comparison, the brackets increased by about
Housing surveyors have reported the largest fall in new buyer inquiries in October since the financial crisis, excluding the period during the Covid-19 lockdowns. Isabel Infantes | Afp | Getty Images LONDON — U.K. house prices fell for the first time in nine months in December, as the country’s Budget and higher mortgage rates dampened
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