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A House panel has passed a bill that would temporarily expand the standard tax deduction used by the majority of taxpayers by $2,000 per person for the next two years. The Tax Cuts for Working Families Act (H.R.3936) recently approved by … Continue reading → The post Temporary Tax Plan Could Boost Your Standard Deduction By Up to $4,000 appeared first on SmartAsset Blog.
An individual can protect their assets from Medicaid, including their home, by placing them into a trust. Essentially, the assets become owned by the trust and not by the individual. This mechanism can decrease the individual’s asset count for Medicaid eligibility, presenting a way to potentially conserve wealth and secure necessary medical care. However, like all […] The post Does Putting Your Home in a Trust Protect It From Medicaid? appeared first on SmartReads by SmartAsset.
The IRS recently announced a major tax enforcement initiative that will increase scrutiny on high-income earners, partnerships and people with foreign bank accounts. The agency said the effort would “restore fairness to [the] tax system” by focusing on wealthy taxpayers who have seen sharp declines in audit rates over the past decade. A financial advisor […] The post The IRS Is Cracking Down on These High-Income Earners. Are You One of Them? appeared first on SmartReads by SmartAsset.
Once you have $1 million in assets, you can look seriously at living entirely off the returns of a portfolio. After all, the S&P 500 alone averages 10% returns per year. Setting aside taxes and down-year investment portfolio management, a … Continue reading → The post How Much Interest Can You Earn on $1 million? appeared first on SmartAsset Blog.
Retiring at age 62 and filing for Social Security will reduce a person’s lifetime benefits by up to 30% compared to waiting until their full retirement age. However, a person with $2.5 million in a Roth IRA may feel more comfortable retiring at age 62, despite the impact that early retirement will have on their […] The post I Have $2.5 Million in a Roth IRA and Will Receive $2,500 Monthly From Social Security. Can I Retire at 62? appeared first on SmartReads by SmartAsset.
Payback is hell. In a turn of the tables, job seekers are increasingly ghosting employers. That’s according to a new report by Indeed, the online job search platform.
PSP Investments sold out of its Palantir position, slashed a stake in AT&T, and bought more shares of chip makers Intel and Nvidia.
As much as $1.2 billion is at stake in a lawsuit filed against Berkshire Hathaway by the Haslam family company Pilot Corp.
The recent surge in interest rates that sent bond yields near a 15-year high is the “single best economic and financial development in 20 years” for retirees, said Joe Davis, global chief economist at Vanguard. With current yields on 10-year U.S. Treasury notes at 4.23%, boomers, ages 59 to 77, have reason to move money into the more conservative investments. This moment presents new opportunities for investors in or near retirement to use bonds to reduce risk and generate steady income, financial advisers say.
(Bloomberg) -- The most important question facing the economy and financial markets next year is not whether the Federal Reserve will cut interest rates. It’s why.Most Read from BloombergPenn Leaders Out After Genocide Response, Alumni PressureGlobal Rate-Cut Standoff Looms in 2023 Policy FinaleApps That Use AI to Undress Women in Photos Soaring in UseAustralia to Lift Fees for Foreigners Buying Existing HousesThe Record Rush to Buy a Rolex or a Patek Philippe Is OverWith inflation having fallen
If you're looking to receive passive income with your investments, there are many ways to do it. While your best choice will depend on certain factors, such as your age and risk tolerance, there are many ways to invest $20,000. … Continue reading → The post How to Invest $20,000 for Passive Income appeared first on SmartAsset Blog.
The share of first-time homebuyers who received down payment gifts or loans from relatives or friends during the homebuying process in 2023 was 23%.
Top stocks to watch this week include AI stocks Nvidia and Snowflake, which are within striking distance of buy points.
Two years after being told they’d never be “be forced to return to an office”, Nationwide’s 13,000-strong workforce have been slapped with an RTO mandate.
"We continue to expect stocks to do quite well and we remain overweight equities," Carson Group's Ryan Detrick said.
Retirement can seem like a faraway goal until all of a sudden, it's not. When you only have a few years left until you retire, the financial decisions you make take on a new importance. Once you're inside the five-year window, that's a good time to review your plan to make sure you're on track. […] The post How to Master the Last 5 Years Before Retirement appeared first on SmartReads CMS - SmartAsset.
Cashier’s and certified checks share the same objective, but there are differences.
As millennials and Gen Z-ers inherit an estimated $60 trillion in wealth in the coming decades, these are the brands they may be inclined to spend on.
As the holidays approach, if you are in the market for a luxury Swiss watch now might be your best time to buy. Subdial, a watch industry data provider, reported that its Bloomberg Subdial Watch Index fell again for the month of November to a new two-year low.
Semiconductor and EV plants in Central Ohio search for employees amid a manufacturing labor shortage; smaller factories brace for tougher competition.