Before the calendar flips to 2020, you might want to see if there are some moves you can make to take advantage of the tax breaks for medical expenses. Experts say it’s worth exploring, as the cost of health care continues its upward climb. The U.S. spent about $3.5 trillion on health care in 2017,
Personal finance
Ah, the joys of new marital bliss. Now … about those tax returns. If you tied the knot this year (or plan to this month), it’s worthwhile evaluating what getting married will mean for your 2019 tax situation. While many couples will see their taxes drop, some will face a “marriage penalty” — paying more
Customers pay at a cashier station in a JCpenney Store at the Newport Mall in Jersey City, New Jersey. Kena Betancur | Getty Images Going big on those holiday purchases will cost you — especially if you’re in New Mexico. Residents in the Land of Enchantment take 17 months to pay off an average credit
Caiaimage/Paul Bradbury | Caiaimage | Getty Images You’ve got your holiday shopping list made and you’re checking it twice. But are you getting the right gifts for the right people? And what should you do if you are strapped for cash? Following some simple gift-giving rules can help you easily navigate the holiday season. They
Investment expert Mellody Hobson is the epitome of the American Dream. The youngest of six kids, she was raised by a single mother. “We had a lot to overcome financially when I was a child,” she said in a recent interview with CNBC’s Wilfred Frost. Her childhood included frequent evictions from their homes in Chicago
Sam Bassett | Iconica | Getty Images If you’re sitting on a few million dollars and you want to save on taxes, consider giving some of it away. The Tax Cuts and Jobs Act roughly doubled the amount an individual can transfer to others without being subject to the 40% gift and estate tax. In
Peloton holiday ad. YouTube If you cover your eyes on Christmas morning, are you expecting to open them up and see a Peloton? If you haven’t already heard, that’s the premise of a new holiday commercial from the home fitness company. And it’s attracting some criticism on social media. That’s in part because the ad
Charitable donations generally kick into high gear on “Giving Tuesday,” a single day specifically focused on charity in the shopping-heavy week after Thanksgiving. Since its start, the #GivingTuesday effort has raised more than $1 billion online in the U.S. alone. And yet, the new tax law has taken its toll. In terms of total dollars,
Hero Images | Hero Images | Getty Images It pays to be smart this Cyber Monday. While there are steps to take to make sure you are getting the best deals, there are also potential traps you can fall into. “Having a strategy for Cyber Monday is imperative, especially if you’re looking to save money,”
Pictured: (l-r) Rainn Wilson as Dwight Schrute and Steve Carell as Michael Scott in an episode of “The Office.” Justin Lubin | NBCU Photo Bank If you’re like many workers, you’ll be shopping online while you’re working today. A recent survey from Robert Half Technology, a human resources consulting company, found that 52% of employees
Geber86 | E+ | Getty Images Staying in equities and embracing their risk and potential return just might make sense for some retirees. Older investors with a combination of pension income, Social Security benefits and income annuities have a measure of safety in retirement. “If you have a big pension and Social Security, maybe you
Simon Jarratt/Corbis/VCG | Corbis | Getty Images This holiday season, donate to charity and give yourself the gift of an attractive tax break. Taxpayers in search of last-minute savings can give directly to the organization or use a tax-advantaged account known as a donor-advised fund. If you itemize on your taxes – meaning your deductions
Virojt Changyencham | Moment | Getty Images Dreaming of a big city escape somewhere around the world, yet dreading a big credit-card bill when you get home? Booking an urban adventure packed with excitement, entertainment and cultural engagement doesn’t have to bust your budget, according to U.K.-based Starling Bank. The firm analyzed 35 cities worldwide,
Like many students his age, Natanael Pabon-Trinidad, 18, wanted to pursue a college degree. He simply didn’t have the funds to afford it. “My mom doesn’t have a high-paying job, and I was worried about all that and not being able to pay,” he said. Rather than relying on loans, Pabon-Trinidad was encouraged by his
Holiday shopping is in full swing. Consumers are expected to spend around 5% more this year, with the average gift-giver shelling out $740, according to some surveys. But being able to afford those gifts for all of your loved ones can be difficult. Especially if you have a tendency to spend on yourself while also
Don’t be surprised if a proposal billed as a middle-class tax cut emerges from the White House at some point next year. With the president’s hope to make it an election issue — as recently described by his top economic policy advisor in an interview with CNBC — the idea is to lower taxes on America’s middle earners
Hero Images | Getty Images No one is born knowing how to handle money. Smart money management has to be taught. Guess whose job that is? That’s right: parents. Yet teaching their kids about money is something most parents dread. Instead, they’d rather go to the dentist (39%), talk about sex (36%) or pay a
Black Friday has arrived. Certified financial planner Ted Jenkin, CEO and founder of Atlanta-based financial advisory firm oXYGen Financial, has some tips for people heading out to shop. To begin, there are several apps that can help you find the best deals, he said. With Flipp, plug in your zip code and the biggest discounts
If you hit the Mega Millions jackpot in Friday night’s drawing, don’t forget that good ol’ Uncle Sam will be hovering with palm out. After more than two months of twice-weekly drawings with no one matching all six numbers — your chance of doing so is 1 in about 302 million — the top prize
Thanagon Karaket / EyeEm | EyeEm | Getty Images It’s almost time to turn the calendar over to a new year. And if you’re retired or have inherited a retirement account, that means you’re on deadline to take your required minimum distributions by Dec. 31. RMDs, as they are commonly known, are the minimum amount