Personal finance

Jetta Productions Inc Entrepreneurs hoping to pocket some tax deductions for 2019 shouldn’t forget a new 20% break. The qualified business income or QBI deduction made its debut in 2018, a feature of the Tax Cuts and Jobs Act. The new write-off allows owners of “pass-through” entities, including S-corporations and partnerships, to deduct up to

Jennifer Adolfie, 33, with a steeply discounted Louis Vuitton bag she found on Poshmark. Source: Jennifer Adolfie You can save a shocking amount of money when you ditch the mall and shop at an online reseller. There’s another reason to do this around the holidays. You can also spare the planet — at least a

Colin Anderson Productions pty ltd More Americans may soon be able to buy into risky investments such as private equity funds, hedge funds and stock in start-up companies — and investors should be wary. The SEC this week proposed a rule that would loosen requirements around who can invest in so-called private securities, a move

Guido Mieth | DigitalVision | Getty Images You’ve saved for retirement for decades. Now what? Time to think about how to draw down your money in a smart way. The IRS currently requires savers to make withdrawals from their retirement accounts starting at age 70½. However, this week the Senate passed a bill that would

A coal miner takes a break after his shift at a small mine outside the city of Welch, West Virginia, on May 19, 2017. Despite Trump’s repeated promises to “put the miners back to work,” and promises from Gov. Justice to do the same, West Virginia University researchers predict coal-mining employment will resume its decline.

If you’re hoping to snag the best-available terms on a loan, standard guidance about credit card usage could end up interfering with your plans. The common advice is to keep revolving debt below 30% of your available credit so your so-called utilization rate doesn’t hurt your credit score. Yet experts say your FICO score —

Getty Images Amid the political noise in Washington, D.C., wealthy investors are going with an asset class they know best: real estate. Members of TIGER 21, an investment club for high-net worth people, ticked up their holdings in real estate to 29% from 28% during the third quarter. This is the group’s highest allocation in

The biggest legislative changes to America’s retirement system in 13 years are on their way. On Thursday, the U.S. Senate approved a spending bill that includes the bipartisan Secure Act, which aims to increase the ranks of retirement savers and the amount they put away. The measure — which passed the House earlier this week

lechatnoir Millennial investors residing in California are packing their bags for friendlier tax climes. That was one of the findings from a recent analysis by financial services firm Wealthfront. The company studied more than 200,000 clients, defining millennials as those born between 1980 and 1994. Half of the young clients who are planning to leave

FatCamera | E+ | Getty Images Lawmakers are about to resurrect a package of tax breaks, bringing back a number of valuable expired deductions and credits. “Tax extenders” are a series of temporary provisions in the tax code that have expired and must be cleared by Congress retroactively each year for filers to take them.

Phil Roeder Americans are likely losing a popular retirement tax strategy next year that allows the wealthy to leave large inheritances in retirement accounts. Several retirement provisions were tucked into a bipartisan $1.4 trillion spending package that federal lawmakers must pass by Friday to avoid a government shutdown. Among the many items in the bill

U.S. President Donald Trump speaks during a roundtable on small business at the White House in Washington, D.C., U.S, on Friday, Dec. 6, 2019. Kevin Dietsch | Bloomberg | Getty Images The Supreme Court will determine next year whether investigators may finally get a glimpse at President Donald Trump’s tax returns. The court said on

Jaireme Barrow has been the victim of “porch pirates” several times. Jaireme Barrow While you’re gearing up for the holidays, fraudsters may be trying to take advantage of you. Empty gift cards, bogus charitable solicitations, cyber attacks and thieves who steal packages from your porch aren’t necessarily unique to this time of year. However, because

Unexpected medical bills are doing more than driving up debt. For many Americans, those debts are also making it more difficult to get a mortgage. Buyers with medical debt are more likely than others to be denied a mortgage, according to a report on consumer housing trends by online real estate marketplace Zillow. Zillow’s survey

Drazen | Getty Images For many people, it’s a call they’re not expecting. An unknown caller tells you that your Social Security number has been suspended or cancelled. If it happens to you, it’s likely the latest iteration of a robocall scam the IRS warned individuals about earlier this year. Still other calls try to

For some, 2020 will be the year that retirement becomes a reality. For others, it will be a financial improbability. Retirement readiness nationwide is shaky overall. Only 23% of men and just 12% of women are “very confident” in their ability to fully retire with a comfortable lifestyle, according to recent research from the Transamerica

There’s one form of discrimination that the 1990 Americans with Disabilities Act didn’t fix: economic. Until recently, people who were eligible for federal assistance programs such as Medicaid and SSI still faced an uneven playing ground. Using these programs meant you could not have assets over $2,000, a paltry amount when you consider life’s various

Hero Images | Hero Images | Getty Images Whether it’s a lemonade stand, mowing lawns or even — these days — developing a new app, there are plenty of ways kids can become entrepreneurs. They don’t even necessarily have to be a big success. Just developing an entrepreneurial mindset can help them form necessary life

Technology firms dominate your online activity, so why not your wallet, too? Most recently, Google has announced it will offer checking accounts as part of a project code-named Cache, notching the boldest move yet by tech into consumer banking. In fact, the company is just the latest Silicon Valley leader to make a bid to

I had just turned 21 and was celebrating my first legal drink when my friend pointed out that this was my last big birthday for a long time. I remember feeling a little sad. Now I’d add: Not long enough. Five years later, we find ourselves drinking to — if not celebrating — another turning