Month: December 2021

Rep. Bill Pascrell, D-N.J., speaks at a news conference announcing the State and Local Taxes (SALT) Caucus outside the U.S. Capitol on April 15, 2021. Sarah Silbiger | Bloomberg | Getty Images House Democrats’ $1.75 trillion spending package boosts the limit on the federal deduction for state and local taxes, known as SALT, to $80,000
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Today’s Social Security column addresses questions about when annual earnings limits are applied, survivor benefits after remarriage and child benefits when a parent is receiving disability benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more Ask Larry answers here. Have Social
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Should you make after-tax Roth or pre-tax contributions to your 401(k)? Roth accounts can be powerful wealth-building tools. But paying tax early doesn’t always make sense, especially for taxpayers with significant income. Here’s when to consider pre-tax vs Roth 401(k) contributions. Quick recap on pre-tax vs Roth 401(k)s Both pre-tax and Roth accounts grow tax-deferred,
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The pandemic has had unexpected consequences, such as the explosion of demand for home improvement projects. “In 2021, we saw crazy growth,” says Bill Darcy, CEO of the National Kitchen and Bath Association, a not-for-profit trade organization with over 50,000 members, including manufacturers, remodelers, retailers and other industry specialists. “It was the third highest rate
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Jussie Smollett leaves the Leighton Criminal Court Building after his trial on disorderly conduct charges on December 7 2021 in Chicago, Illinois. Kamil Krzaczynski | AFP | Getty Images A Chicago jury reached guilty verdicts on five of six charges against Jussie Smollett Thursday. The former “Empire” actor was accused of falsely reporting that he
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As Bill Gates reflected on what he calls his “most unusual and difficult year,” the billionaire also looked ahead to 2022 and beyond with no shortage of optimism — including when it comes to our “more digitized future.” In a year-end post on Gates’ personal blog, the Microsoft co-founder included a prediction about the future
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Senate Majority Leader Chuck Schumer, D-N.Y., outside the Senate Chambers of the Capitol on Dec. 7, 2021. Anna Moneymaker | Getty Images News | Getty Images The Senate will soon consider whether to implement a plan for a federal paid family and medical leave as part of the Build Back Better bill. Advocates are campaigning
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If you own any Treasuries, take a grim look at what’s left after inflation and taxes. Inflation has already crossed the 6% mark. Are we going to see 7%? What does that do to savers? My answers are “Yes, soon” and “They get slaughtered.” The inflation rate, as measured by the one-year gain in the
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CoreLogic, a leading global property information, analytics and data-enabled solutions provider, today released the Homeowner Equity Report for the third quarter of 2021. The report shows homeowners with mortgages—which account for roughly 63% of all properties—have seen their equity increase by 31.1% year over year, representing a collective equity gain of over $3.2 trillion, and an average
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Elizabeth Holmes, founder of Theranos Inc., leaves federal court in San Jose, California, on Wednesday, Dec. 8, 2021. David Paul Morris | Bloomberg | Getty Images SAN JOSE, Calif. — In her final effort to try and sway the jury in her criminal fraud trial, Theranos founder Elizabeth Holmes blasted ex-boyfriend Ramesh “Sunny” Balwani, her
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Investors saw it all in 2021. Next year promises a little more upside, according to two top strategists. “Aside from the latest variant, and Covid in general, the underlying economy is quite strong,” Stephanie Link, chief investment strategist and portfolio manager at Hightower, said during CNBC’s Financial Advisor Summit Wednesday. “You have above-trend inflation, not runaway inflation,” she told
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andresr | E+ | Getty Images For many Medicare beneficiaries, a supplement plan — aka, Medigap — is an appealing way to cover some out-of-pocket costs. These policies at least partially cover the cost-sharing aspects of Medicare — deductibles, copays and coinsurance. However, there are limitations. For example, Medigap plans don’t cover costs associated with
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