Piranka | E+ | Getty Images The season of fall foliage and pumpkin spice lattes is approaching. Meanwhile, the job market might also turning over a new leaf. A “September surge,” or the idea that more job postings become available after Labor Day, is tied to an end of a summer slowdown as job recruiters
Personal finance
Morsa Images | Digitalvision | Getty Images Retirees who are worried about the high costs of prescription drugs are set to get new relief starting in 2025. Starting in January, Medicare drug plan enrollees will have their annual out-of-pocket drug costs capped at $2,000. Between 2025 and 2029, on average, about 1.4 million participants in
Xavier Lorenzo | Moment | Getty Images A lack of attention to taxes may be costing investors big bucks. Many investors are probably familiar with the concept of asset allocation, which entails selecting the right mix of stocks and bonds (say, 60/40) to balance investment risk and return. But where those assets are held —
Images By Tang Ming Tung | Digitalvision | Getty Images Employers are increasingly putting workers’ 401(k) plan savings on autopilot. But the positive impact of automated retirement savings is more muted than initially thought, new research finds. Previously “underexamined” factors — like workers cashing out 401(k) balances when they leave a job — “meaningfully reduce”
A Dollar General store in Germantown, New York, on Nov. 30, 2023. Angus Mordant/Bloomberg via Getty Images Three of the nation’s largest retailers — Dollar General, Dollar Tree and Kroger — charge fees to customers who ask for “cash back” at check-out, amounting to more than $90 million a year, according to the Consumer Financial
Source: Getty Images During a strong year for the stock market, a lesser-known strategy could help rebalance your portfolio and save on future taxes. The tactic, known as tax-gain harvesting, involves strategically selling your profitable brokerage account assets during lower-income years. That could include early years of retirement or periods of unemployment. As of Aug.
Grace Cary | Moment | Getty Images Travelers, be warned: The federal government may revoke your passport if you ignore a big tax bill. Such punishments have become more frequent in recent years, experts said. Federal law requires the IRS and Treasury Department to notify the State Department if an American has a “seriously delinquent
Stefanie Kiser Book: “Wanted: Toddler’s Personal Assistant”. Cover design by Jillian Rahn/Sourcebooks. Courtesy: Stefanie Kiser Stephanie Kiser came to New York City in 2014 as a new college graduate, hoping to become a screenwriter. Instead, she spent the next seven years as a nanny for wealthy families. Kiser’s new memoir, “Wanted: Toddler’s Personal Assistant: How
Federal Reserve Chairman Jerome Powell. Andrew Harnik | Getty Images Federal Reserve chair Jerome Powell on Friday gave the clearest indication yet that the central bank is likely to start cutting interest rates, which are currently at their highest level in two decades. If a rate cut comes in September, as experts expect, it would
Aire Images | Moment | Getty Images Retirees may have income from Social Security, a pension, a retirement plan or other sources — and they typically must either withhold taxes or make quarterly payments to avoid IRS penalties. For 2024, the quarterly estimated tax deadlines are April 15, June 17, Sept. 16 and Jan. 15,
Richard Drury | Digitalvision | Getty Images After funneling money into pretax retirement accounts, you will eventually face mandatory withdrawals in retirement known as required minimum distributions, or RMDs. Since RMDs can trigger higher taxes, the withdrawals can be a nuisance for some retirees who do not need the money. But the yearly activity could
Vice President Kamala Harris, left, and former President Donald Trump Reuters As former President Donald Trump and Vice President Kamala Harris unveil their economic agendas, both presidential candidates have called for tax changes that could affect millions of Americans. Taxes will be a key issue for the next president. Without action from Congress, trillions in