Personal finance

sorn340 | iStock | Getty Images It’s now been more than seven months since President Joe Biden asked the U.S. Department of Justice to review his legal authority to cancel student debt. The agency hasn’t released its findings yet. And although top Democrats argue that the president can cancel the debt through executive action, Biden

A detail of the statue of Satoshi Nakamoto, a presumed pseudonym used by the inventor of Bitcoin, in Budapest, Hungary. Janos Kummer | Getty Images News | Getty Images The price of popular cryptocurrencies like bitcoin and ethereum plunged Friday after Chinese officials intensified a crackdown, essentially declaring crypto to be illegal. The government intervention,

In this article BKCC Ronnie Kaufman | DigitalVision | Getty Images Everyone wants to be happy in retirement. So what will it take to get there? It’s not just saving money, although that is key, according to certified financial planner Wes Moss, chief investment strategist at Atlanta-based Capital Investment Advisors and author of the upcoming

President Joe Biden speaks during a virtual Covid Summit of the United Nations General Assembly on Sept. 22, 2021 in Washington. Alex Wong | Getty Images News | Getty Images The wealthiest 400 American families paid an 8.2% average rate on their federal individual income taxes from 2010 to 2018, according to a White House

mediaphotos | E+ | Getty Images Many popular tax-planning strategies are on the chopping block as Democrats debate how to pay for their $3.5 trillion spending package. However, now is the time to consider year-end moves to lower next year’s tax bill, regardless of what happens in Congress. “Year-end tax planning should be done every

Damir Khabirov | iStock | Getty Images A bill introduced by Senators from both parties would help high school students achieve financial literacy by giving them money and then matching a portion of what they continue to save. The Program to Inspire Growth and Guarantee Youth Budgeting Advice and Necessary Knowledge, or the PIGGY BANK

@Sabi32 | Twenty20 On Sept. 15, millions of families received the third advance child tax credit payment automatically from the IRS. But others who got their July and August payments without a problem have yet to get their money. Sarene Leeds, 44, is one such parent. The freelance writer in White Plains, New York, was

President Joe Biden addresses the 76th Session of the U.N. General Assembly on Sept. 21, 2021 in New York. Eduardo Munoz-Pool/Getty Images President Joe Biden and House Democrats have unveiled plans to raise taxes on households with more than $400,000 of annual income, and cut or maintain taxes for those below the line. But what’s

D-Keine | Getty Images As Democrats seek ways to cover their $3.5 trillion spending package, lawmakers are floating a new limit on a popular write-off for technology startups and other industries. Created to spur investment in certain types of smaller companies, so-called qualified small business stock allows founders, early employees and investors to write-off up

Halfpoint Images | Moment | Getty Images New data on the monthly child tax credit payments shows how parents earning up to $50,000 a year are using the extra money. They’re investing it. The monthly checks started in July, and include up to $300 per child under age 6 and $250 per month for children

skynesher New retirees — or anyone on the verge of retiring — may want to consider what an extended stock market dip would mean for their portfolio over the long-term. While the market has partially rebounded from Monday’s slide, it’s a good reminder that down markets can pose significant “sequence of returns” risk in the

The Good Brigade | DigitalVision | Getty Images Roth accounts are after-tax accounts with unique benefits for retirement savers. Namely, investments grow tax-free, and withdrawals aren’t subject to tax during one’s retirement years. But there are some key differences between Roth savings in a 401(k) plan and in an individual retirement account. Here are some

In this article TSLA Jeff Bezos, left, and Elon Musk Getty Images; Reuters The wealthiest Americans may be dodging as much as $163 billion in income taxes every year, according to the U.S. Department of the Treasury, and many leverage tax laws to do it legally, financial experts say. Although U.S. levies increase with income,

Chip Somodevilla | Getty Images News | Getty Images A tax package unveiled by House Democrats would forbid individual retirement accounts from holding certain private investments typically reserved for the wealthy. While proponents think the proposal would raise investor protection and reduce an the use of an IRA as a tax shelter for the rich,

svetikd | E+ | Getty Images Millions of American families with kids have received three monthly payments since July totaling $45 billion through the new enhanced child tax credit. There’s a limited amount of time for families with eligible children to sign up if they didn’t get the checks automatically, likely because they don’t traditionally

@canada_by_alexis | iStock | Getty Images Half of people who haven’t yet purchased a home point to their student debt as a reason for the delay. That’s the finding from a new report by the National Association of Realtors, which partnered with Morning Consult to conduct an online poll in June of 1,995 student loan

You want your kids to have a healthy financial life, yet knowing how to help make that happen may leave you stumped. It may be especially hard if you have your own money struggles. Yet teaching them as early as possible can make a difference. “There’s a lot of misinformation out there that they will

Food is served at an outdoor restaurant in New York, August 3, 2021. Caitlin Ochs | Reuters As the Delta variant has wound its way through the U.S., signs show it is also hitting the wallets of some Americans. A new report from Morning Consult finds that the Delta variant is spurring pay or income

LifestyleVisuals | E+ | Getty Images Many older Americans worry about rising medical expenses, and those who may benefit most from a tax-friendly health savings account are the least likely to have one.  That’s according to a report from the National Poll on Healthy Aging, which surveyed Americans ages 50 to 80 about health expenses and savings. 

Sac C Wat’hn Buy Thna Thwi Phl / EyeEm | EyeEm | Getty Images One of the biggest unknowns for retirees may be whether they’ll eventually need long-term care — that is, help with daily living activities — and to what degree. Many people may end up requiring little care if they need any at