Personal saving
Why health-care open enrollment season may cost you more this year
sturti | E+ | Getty Images Don’t be surprised if you spend more time this year picking health-care benefits during open enrollment season. Between rising inflation, policy-specific changes and employees wanting more health-care services, many people won’t be clicking the exact same boxes as last year. Last year during open enrollment — generally in the […]
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Key Democrat outlines 5 priorities for $80 billion in IRS funding
Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing. Tom Williams | Pool | Reuters Senate Finance Committee Chairman Ron Wyden, D-Ore., has outlined five priorities for the nearly $80 billion in IRS funding enacted in August through the Inflation Reduction Act. Wyden shared expectations for […]
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The CNBC FA 100 ranking recognizes advisory firms that help clients navigate their financial lives
Marko Geber | DigitalVision | Getty Images In times of uncertainty — turbulent markets, high inflation, geopolitical turmoil — we often write about what financial advisors are recommending to clients. This advice often boils down to “stay calm” and “don’t let short-term news lead to impulsive moves that have long-term consequences.” Many advisors also offer […]
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This ‘wild card’ strategy offers retirees a fix for unpaid quarterly taxes. Here’s how to use it
Portra | E+ | Getty Images If you’re retired and haven’t made the necessary quarterly estimated tax payments for 2022, there may still be time to avoid late penalties, experts say. Retirees must send tax payments four times per year if they don’t withhold enough from Social Security, pensions, investments or other sources of income. […]
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Damages in Florida from Hurricane Ian could total $47 billion. Here’s how to protect your personal finances from natural disasters
Tap emergency resources Reach out to the Federal Emergency Management Agency, Disaster Assistance Improvement Program and the American Red Cross, as well as state and local governments, for emergency assistance. You may also find help in your community. “Disasters bring people together,” McClanahan said. “People are really good at helping people. “If you have the […]
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Why you need to be cautious of investing tips from stars like Kim Kardashian
Kim Kardashian’s crypto settlement could be a lesson for us all. The reality Tv superstar agreed to shell out $1.26 million to settle fees with the Securities and Trade Commission for failing to disclose she bought compensated to publish a write-up on Instagram about EthereumMax’s crypto asset, the company declared Monday. “Obviously the SEC is producing […]
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Here’s how advisors are helping clients slash their 2022 tax bill
Hero Images | Hero Images | Getty Images Weigh Roth IRA conversions With the S&P 500 Index down more than 20% in 2022, many investors are eyeing Roth individual retirement account conversions, which transfer pre-tax IRA funds to a Roth IRA for future tax-free growth. The trade-off is paying an upfront tax bill. However, lower […]
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What do tax cuts and industry chaos necessarily mean for young Brits? 3 professionals give their tips
At a time when hundreds of thousands are grappling with increasing price ranges and a price tag-of-residing disaster, the International Monetary Fund warned that the U.K. government’s spending options “will possible increase inequality.” Photo by Westend61 by using Getty Pictures The U.K. economy has been gripped by sector mayhem for the last 7 days. The […]
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These are the best ways to give to charity for the ‘vast majority of people.’ Here’s how to pick the most tax-efficient strategy
Catherine Mcqueen | Moment | Getty Images It’s easy to transfer cash when a charity pulls at your heartstrings. But other giving strategies may provide a bigger tax break, financial experts say. Despite economic uncertainty, nearly 70% of Americans plan to donate a similar amount to charity in 2022 as last year, according to a […]
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IRS erred on child tax credit payments for millions of eligible families – but aid was 98% accurate overall, report finds
The IRS skipped about $3.7 billion in advance child tax credit payments for 4.1 million eligible households, but sent more than $1.1 billion to 1.5 million filers who didn’t qualify in 2021, according to an audit released Tuesday by the Treasury Inspector General for Tax Administration. However, the agency accurately issued 98% of the aid, […]
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