Fg Trade | E+ | Getty Images If you’re planning to sell investments or rebalance brokerage assets next year, it’s possible you won’t trigger a tax bill for 2024. The IRS on Thursday released dozens of inflation adjustments for 2024, including higher income tax brackets, increased standard deductions and boosted income thresholds for capital gains.
Personal finance
A customer holds a fuel nozzle at a Shell gas station in Hercules, California, U.S., on Wednesday, June 22, 2022. President Joe Biden called on Congress to suspend the federal gasoline tax, a largely symbolic move by an embattled president running out of options to ease pump prices weighing on his party’s political prospects. Photographer:
Peopleimages | Istock | Getty Images For many Americans, planning for retirement may feel like a daunting financial goal. Now, there’s another risk on the horizon that may stoke their worries — the 2024 elections. Almost half of investors — 45% — surveyed by Nationwide Retirement Institute believe next year’s presidential and congressional contests will
Wael Alreweie | Istock | Getty Images Bitcoin investors are eagerly waiting for regulators to approve the first U.S. spot bitcoin exchange-traded fund, which could be significant for cryptocurrency investors, experts say. Last week, the price of bitcoin notched an 18-month high, climbing to $37,970, after BlackRock took first steps toward an ether ETF. The
Getty Images Exchange-traded funds came in third among the top 10 investment products to grow in popularity with U.S. households from 2020 to 2022, according to a new survey. While individual stocks were the most commonly owned investment product, held by 43% of households in 2022, 18% of households invested in ETFs in the same
Araya Doheny | Getty Images When Dave Bernstein, 87, started working at the U.S. Postal Service in February 1970, he was making $2.35 an hour. To supplement his income, he also took on other work. Years later, Bernstein decided in 1992 to take a voluntary retirement. “We knew there was going to be a reduced
Nosystem Images | E+ | Getty Images Many older women outlive their spouses and may not expect higher future taxes after suffering from the loss. But there are ways to prepare, according to financial experts. American women have a significantly higher life expectancy than men, according to data from the Centers for Disease Control and
Delmaine Donson | E+ | Getty Images Health savings accounts offer perhaps the best tax perks relative to other investment accounts. But most account holders use them in a way that dilutes their benefits, data shows. Just 19% of HSA participants invest their account assets, according to a new survey by the Plan Sponsor Council
Alexander Spatari | Moment | Getty Images Americans who move abroad still have a responsibility to file their taxes with the IRS, sometimes in addition to taxes paid in their place of residence. Unsurprisingly, the thought of renouncing their U.S. citizenship may have crossed their minds at least once. However, experts advise against the move.
Credit card debt is mounting. Americans now owe $1.08 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. Balances jumped 15% from a year ago, according to a separate quarterly credit industry insights report from TransUnion, while the average balance per consumer hit $6,088, the highest in 10 years. Persistent inflation has put
Simpleimages | Moment | Getty Images Heading into 2024, consumers should “economize” their budgets, pay down debt and save money, if possible, to boost their personal finances, Dana Peterson, chief economist at The Conference Board, said Thursday at CNBC’s Your Money event. This “three-point action plan” is important for households since there’s “a high risk
Klaus Vedfelt | Digitalvision | Getty Images Travel was expensive and busy in 2023, leading jetsetters to seek out cheaper, less-trodden alternatives to popular hot spots. It’s a great way to save money on trips heading into 2024, according to experts. This concept — seeking out cheaper duplicates, or “dupes,” of pricey products — was
Tom Werner | Digitalvision | Getty Images If your partner got down on one knee and asked you to marry them today, would you say yes? What if you found out the ring destined for your finger boasts a lab-grown diamond? The chances of that engagement ring bearing a man-made diamond are higher than you
Richard Stephen | Istock | Getty Images The clock is ticking for Congress to shore up Social Security benefits. The latest projections from Social Security’s actuaries show the program’s trust funds are due to run out in 2034, at which point 80% of benefits will be payable. If Congress does not act by 2034, the
Americans now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances spiked by $154 billion year over year, notching the largest increase since 1999, the New York Fed found. “Credit card balances experienced a large jump in the third quarter,
U.S. Treasury Secretary Janet Yellen outlines the improvements the IRS will deliver to taxpayers in 2024, during remarks at IRS Headquarters in Washington on Nov. 7, 2023. Kevin Lamarque | Reuters Treasury Secretary Janet Yellen on Tuesday announced IRS goals for the 2024 tax filing season and shared agency updates amid continued scrutiny from some Republican
In this article ZIP Follow your favorite stocksCREATE FREE ACCOUNT Commuters arrive from Metro North Railroad trains in Grand Central Station in New York. Timothy A. Clary | AFP | Getty Images Rising pay transparency is causing a new kind of competition among employers — and it’s not necessarily for talent. Instead, the shift in
Peopleimages | Istock | Getty Images Social Security beneficiaries will soon get notices showing exactly how much money to expect in their monthly checks for 2024. Those recipients are slated to get a 3.2% boost to their benefits starting in January with the 2024 annual cost-of-living adjustment. Retirement benefits are expected to go up by
Arik Armstead of the San Francisco 49ers at the NFC Championship game against the Philadelphia Eagles on Jan. 29, 2023. Kevin Sabitus | Getty Images Sport | Getty Images It’s no secret that professional athletes are often higher earners — but one football player revealed his pay stub on social media to show how much
Miniseries | E+ | Getty Images Homebuyers are dealing with record-high costs this year amid interest rate hikes and shrinking supply. While shopping for homes is increasingly competitive, prospective buyers should consider an additional factor when weighing the pros and cons of a given property: the homeowners association, or HOA. Homeowners associations are run by
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