As the end of the fiscal year approaches, taxpayers should prepare for the fourth-quarter estimated tax deadline on January 15, 2024. This date is crucial for self-employed individuals and those with income sources that don’t have taxes withheld, such as freelancers, small business owners, and investors. Failing to meet this deadline can lead to harsh
Personal
For many borrowers, student loan payments can feel like a burden; however, one silver lining exists: the potential to lessen your tax obligations. The student loan interest deduction, which allows eligible individuals to deduct up to $2,500 of interest paid on qualifying education loans, could provide some much-needed financial relief in the upcoming tax season.
As the year 2025 unfolds, a significant number of Americans are grappling with heightened credit card debt, signaling a concerning trend for personal finance in the nation. According to a recent report from Bankrate, nearly 48% of credit cardholders are now carrying a balance from month to month. This marks an increase from 44% at
As we step into 2025, many individuals may notice subtle shifts in their financial landscape, particularly with the arrival of the first paycheck of the year. With recent adjustments announced by the Internal Revenue Service (IRS), the upcoming changes to federal income tax brackets are shaping how much money will actually land in our bank
The Consumer Financial Protection Bureau (CFPB) has taken a significant step toward alleviating the financial burden of medical debt for millions of Americans. This newly finalized rule is projected to eliminate approximately $49 billion in medical debt from credit reports, significantly impacting the financial landscape for around 15 million individuals. By instituting this change, the
Target-date funds (TDFs) have gained significant traction as a preferred investment option for retirement savers, particularly in employer-sponsored 401(k) plans. Designed to simplify the retirement savings process, TDFs automatically adjust their asset allocation based on the anticipated retirement date of the investor. By selecting a target-date fund with a year corresponding to their expected retirement
In a rapidly changing financial landscape, securing a robust retirement fund has become increasingly crucial for many Americans. A recent survey by CNBC highlighted that approximately 40% of individuals are trailing in their retirement planning and savings efforts. With 2025 on the horizon, it’s time to delve into the effective strategies that can help maximize
The recent landscape surrounding student loan forgiveness in the United States has left many borrowers feeling disheartened yet hopeful. With the Biden administration effectively retracting its sweeping plans for debt cancellation, individuals now need to turn their attention toward existing pathways for relief. Political hurdles and legal battles have created a maze of uncertainties, but
As the calendar turns to 2025, individuals focusing on retirement should consider January as a pivotal month to reassess and enhance their financial contributions, particularly to 401(k) plans. Insights from various financial experts highlight that a significant number of American workers feel inadequately prepared for retirement, a sentiment echoed in a Bankrate survey where over
The COVID-19 pandemic initiated a revolutionary shift in workplace dynamics, pushing remote work into the limelight. Among the notable proponents of a return to traditional office settings are figures like Elon Musk and Vivek Ramaswamy, who believe that the trend of working from home is a relic of the pandemic that should be dismantled. In