As the November election draws near, some attention has been focused on a particularly contentious plan by Joe Biden to eliminate the 401(k) deduction. In truth, Biden isn’t proposing to eliminate the 401(k) deduction as much as to replace it with a tax credit. AFP via Getty Images Be that as it may, defined contribution
Like everything else this year, the Kentucky Derby 2020 is different, not May but September, run in the evening (7:02 pm Eastern time), and run without fans in the stands. But betting and the IRS haven’t changed. It’s traditional to place a bet, and the winnings can pay off handsomely. U.S. law still allows legal
SCRANTON, PENNSYLVANIA – JULY 09: The Democratic presidential nominee Joe Biden stops in front of … [+] his childhood home on July 09, 2020 in Scranton, Pennsylvania. (Photo by Spencer Platt/Getty Images) Getty Images Housing policy wasn’t a major theme of the recent Democratic National Convention, however, Joe Biden did put out a Housing Policy
Roberto Arias prepares a grave for burial at Woodlawn Cemetery during the coronavirus disease (COVID-19) outbreak in Everett, Massachusetts, U.S., May 27, 2020. Brian Snyder | Reutes The U.S. will top more than 410,000 Covid-19 deaths by the end of the year as the country heads into the fall and winter, according to a new forecast from the Institute
Jennifer Haynes, a self-employed chef and single mother living in Rancho Cucamonga, Calif., is struggling to make ends meet after unemployment benefits abruptly stopped in July without explanation. Meanwhile, the 42-year-old is the sole provider for twin boys, one of whom has special needs. Jennifer Haynes Jennifer Haynes didn’t just fall through cracks in the
This back-to-school season is like no other for many reasons. And that makes preparing for it especially challenging. As of a recent tally, a little more than half of U.S. elementary and high school students will attend school only virtually this fall, although changes are announced daily. As a result, families have delayed many traditional back-to-school purchases.
getty Does the recent fall in the market worry you? Depending on your age, it shouldn’t. If you’re a millennial, there’s something else that should worry you more. The good news, though, is that it’s something you have total control over. If you’re like most investors, you read the results of the market every day.
getty The stretch IRA was a popular tool for extending the benefits of a tax-deferred account to a non-spouse beneficiary. The goal was to minimize the tax impact of the required minimum distributions (RMDs). Typically, it worked by having the account owner designate a child or grandchild as the beneficiary, who was then allowed to
Median listing prices rose 19% in Philadelphia in August getty Realtor.com recently released the latest numbers on the country’s housing market. Economists crunched the numbers from August. Despite a 10 % year-over-year increase in the national median listing price to $350,000, the market is hotter and more competitive than ever. This current listing price growth is
Liu Yifei stars in Disney’s “Mulan.” Disney There’s a reason that blockbuster tentpoles are meant to be seen in theaters. Unfortunately, for audiences in the U.S., the ongoing coronavirus pandemic forced Disney to postpone its theatrical release of “Mulan” and, ultimately, give it a home on Disney+. The film, which seeks to merge the 6th
Job creation in August represents continued improvement in the U.S. economy but a full recovery won’t happen until the coronavirus pandemic is under control, Boston Federal Reserve President Eric Rosengren said Friday. Unemployment fell to 8.4% as nonfarm payrolls rose by 13.7 million last month, the Labor Department reported, in numbers that were significantly better
The sell-off in Tesla shares as been sharp and swift. As of Friday morning, the stock has lost roughly $85 billion in market cap since Monday and CEO Elon Musk’s wealth has taken a hit. But the stock is still up about 800% over the past year. CNBC’s “Squawk Box” crew discusses what could be
Traders work during the opening bell at the New York Stock Exchange on March 5, 2020. Johannes Eisele | AFP | Getty Images It may feel that much of our lives are on pause during the pandemic. But not the stock market. Especially over the last few days. On Thursday, the S&P 500 tech sector
getty Let’s start from scratch: what are the tax advantages of a traditional or Roth 401(k) or IRA? In both cases, they allow savers to avoid paying taxes on their investment returns. In the case of a traditional IRA/401(k), they also allow savers to pay their taxes, ultimately, based on their total effective tax rate
This segment of What’s Ahead discusses two easy and momentous ways to give Americans a big raise in pay, a fitting topic as we go into the long Labor Day weekend. The first, a flat tax, would be a tax cut for everyone, which would also free up resources and time for more productive pursuits.
Aaron Marshall is CEO & Co-Founder of Keyrenter Property Management, the nation’s leading property management and real estate franchise. getty If you’re in property management or you work in any sort of real estate, it would be very easy right about now to feel pretty bleak about your profession. “Nobody in their right mind,” you might think,
With Labor Day weekend approaching, top U.S. health officials are pleading with the American public to maintain public safety precautions, such as mask-wearing and social distancing. The U.S. is headed into the fall with a troubling level of spread if the country can’t bring the daily numbers down through September, White House coronavirus advisor Dr.
Federal Reserve Chairman Jerome Powell, wearing a face mask, testifies before the House of Representatives Financial Services Committee during a hearing on oversight of the Treasury Department and Federal Reserve response to the outbreak of the coronavirus disease (COVID-19), on Capitol Hill in Washington, U.S., June 30, 2020. Tasos Katopodis | Reuters Interest rates are
Jose Luis Pelaez Inc | DigitalVision | Getty Images There is nothing like a precipitous decline of nearly 35%, followed by a swift rise of about 50% in the S&P 500 index — all within the span of five months — to motivate people to bust out the old cliché “buy low, sell high.” Ah, yes,
Jose Luis Pelaez Inc Millions of Americans who are eagerly waiting for a second round of $1,200 stimulus checks may be relieved to know those payments are still a priority for Washington lawmakers. But Republicans and Democrats in Congress must first end their stalemate and approve the next coronavirus relief bill before Americans can get