U.S. President Joe Biden gestures after speaking about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. Andrew Caballero-Reynolds | AFP | Getty Images Mishima Hughson filed for bankruptcy in December, joining the ranks of hundreds of thousands of Americans who undergo the process each year. Along the way,
Personal finance
Joe Biden and Donald Trump 2024. Brendan Smialowski | Jon Cherry | Getty Images Presumptive nominees President Joe Biden and former President Donald Trump have both pledged to extend expiring tax breaks for most Americans — but questions remain on how to pay for it. Trillions in tax breaks enacted by Trump via the Tax Cuts and Jobs Act
Urbazon | E+ | Getty Images If you’re living and working abroad and still need to file 2023 taxes, the deadline is only one week away. While the regular tax deadline was April 15 for most taxpayers, there’s an automatic two-month extension to June 17 for those U.S. citizens and resident aliens, including dual citizens,
Maca And Naca | E+ | Getty Images Your student loan bill may get smaller next month. Here’s why: A feature of the Biden administration’s latest income-driven repayment plan that will reduce millions of borrowers’ monthly payments kicks in on July 1. For some borrowers, “it’s a dramatic drop,” said higher education expert Mark Kantrowitz.
Joe Biden and Donald Trump 2024. Chip Somodevilla | Alex Wong | Getty Images Trillions in expiring tax breaks are at stake this election season — and those sunsets could raise taxes for most Americans after 2025 without extensions from Congress. The Tax Cuts and Jobs Act of 2017, or TCJA, temporarily reduced taxes for most
Alvaro Gonzalez | Moment | Getty Images Despite a strong labor market, some applicants are facing more competition on the job hunt. But prolonged unemployment and lower income for 2024 could offer the chance for tax planning, experts say. One “silver lining” of a job layoff can be a temporary lower federal income tax bracket,
Jamie Grill | Getty Images Mega backdoor Roth conversions can significantly boost tax-free retirement savings — but this maneuver is not available for all investors and mistakes are common, experts say. When investors make too much to save directly to a Roth individual retirement account, backdoor strategies can bypass the IRS income limits. A mega
Ippei Naoi | Moment | Getty Images Generation X is known as the sandwich generation because they sit between having a combination of financial or emotional responsibility for adult children and aging parents — in addition to managing their own current lifestyle aspirations and securing their retirement future. It’s a lot to deal with, and
SDI Productions | E+ | Getty Images A gradual cooling of the labor market has made it tougher to find a new job, but overall conditions are still favorable for job seekers. “Things have gotten competitive,” said Julia Pollak, chief economist at ZipRecruiter. “Don’t get discouraged; there are opportunities out there,” she added. “This is
D3sign | Moment | Getty Images Americans aren’t good at taking vacation. About 62% of workers say having a job with paid time off — for vacations or illness — is “extremely important” to them, more so than benefits like health insurance, a 401(k) plan or paid parental leave, according to a Pew Research Center
Peshkova | Getty Images From cash stuffing to loud budgeting, TikTok is chock-full of ways to build wealth — and more people are taking notice. Financial TikTok, also known as #FinTok, is now one of the most popular sources for financial information, tips and advice, particularly among Generation Z. With less access to professional advisors and
Martin Barraud | Ojo Images | Getty Images Many Americans are likely familiar with financial thresholds that are adjusted for inflation each year. They include contribution limits to 401(k) plans, cost-of-living adjustments for Social Security benefits and federal income tax brackets, to name a few. These tweaks help households keep pace with the rising cost