A Social Security Administration office in San Francisco. Getty Images The Social Security Administration’s average wait time for an initial disability decision hit an all-time high in August of more than six months, or 198 days — almost three times higher than it was a decade ago. That is just one of many signs that
Personal finance
Sporrer/Rupp | Image Source | Getty Images As talk of Social Security reform heats up heading into the November election, one congressional proposal to expand the federal program has received a new endorsement from California lawmakers. In August, a joint resolution passed both the state’s senate and its assembly. Now, it goes to Capitol Hill
Cecilie Arcurs | Getty Images There’s about one month until the Oct. 17 tax deadline extension, and experts say filers need to prepare, especially for more complicated returns. An estimated all-time high of 19 million American taxpayers filed an extension for their 2021 returns, according to the IRS. Kevin Brady, a certified financial planner and
Andresr | E+ | Getty Images For retirement “super savers,” good financial habits appear to go far beyond fattening up their nest eggs, a new study shows. Most of these workers — whose 401(k) contributions are at least 15% of their pay or 90% or more of the maximum allowed — also pay their bills
Getty Images If you haven’t been sending part of your income to the IRS in recent months, this week is the last chance to avoid a tax penalty. The deadline for third-quarter estimated taxes is Sept. 15, applying to income from self-employment, small businesses, investments, gig economy work and more, according to the agency. “It’s
Peopleimages | Istock | Getty Images As open enrollment season gets underway, you may find yourself having to decide whether a health savings account should be part of your 2023 medical coverage. These tax-advantaged accounts let users save for medical expenses. Many companies will soon — or already have started to — hold their annual
Olena Ruban | Moment | Getty Images By next month, tens of millions of Americans should be able to start applying for student loan forgiveness. For a number of reasons, experts say borrowers should fill out their application sooner rather than later. These are 4 dates that should be on your radar, including three before
Helen Cortez / EyeEm | Getty Images Determining who benefits most from student loan forgiveness — the poor, middle class or wealthy — may sound like a straightforward exercise. But an exact calculation is difficult, according to economists and education experts. Aside from challenges related to the available data, future financial benefits that will accrue
Like many borrowers, Halid Hamade, 28, is poised to benefit — at least somewhat — from student loan forgiveness. After President Joe Biden announced he will forgive $10,000 in federal education debt and up to $20,000 for recipients of Pell Grants who meet the income threshold, Hamade said he was happy. Still, “it’s not enough,”
Hinterhaus Productions After boosting paid parental leave during the pandemic, many companies are now cutting or reducing the popular employee benefit. In 2022, organizations with paid maternity leave dropped to 35% from 53% in 2020, according to the Society for Human Resource Management’s employee benefits survey. And fewer than one-third, 27%, now provide paid paternity
Marko Geber | DigitalVision | Getty Images If you’re one of the millions of Americans expecting student loan forgiveness, you won’t owe federal taxes. But that doesn’t mean you’re off the hook at the state level. Indiana is the latest to confirm forgiveness will trigger state income taxes, and some borrowers may owe county levies
As prices rise, Americans are increasingly finding new ways to make ends meet. But with some necessary purchases, such as groceries, there are fewer options that don’t involve taking on debt. That makes the option to pay later — through companies such as Klarna, Zip, Zilch, Affirm and Afterpay — look increasingly attractive. More