As we approach the end of 2025, financial advisors are faced with an impending challenge stemming from the potential expiration of numerous tax benefits that were put into place by the Tax Cuts and Jobs Act (TCJA) of 2017. With trillions of dollars in tax breaks hanging in the balance, advisors must take proactive measures
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The dynamics of Social Security payments are set to undergo significant changes in 2025, bringing important implications for both retirees and high-income workers in the United States. As inflation continues to rise, the Social Security Administration (SSA) has announced a modest 2.5% cost-of-living adjustment (COLA) for benefit payments. However, along with this adjustment, a crucial
As the Social Security Administration (SSA) recently declared, beneficiaries will witness a cost-of-living adjustment (COLA) of just 2.5% in 2025. This adjustment marks a notable downturn from earlier years, particularly when juxtaposed with significant increases seen in 2022 and 2023. In this article, we will explore the ramifications of this COLA, the method of its
As Social Security beneficiaries await news of their cost-of-living adjustment (COLA) for 2025, the mood is tinged with apprehension. Analysts are projecting a modest increase of 2.5%—a figure that might seem disappointing, particularly when juxtaposed with the substantial adjustments beneficiaries have seen in the past few years. While the anticipated rise would add approximately $48
Tax season can be a daunting period for many Americans. With complex regulations and tight deadlines, it often leaves taxpayers scrambling to meet their obligations, especially given the looming October 15 deadline for those who requested an extension. As nearly 19 million taxpayers filed for extensions earlier this year, it’s crucial to understand the implications
In recent years, the digitalization of human interaction has given rise to a troubling trend: relationship scams linked to cryptocurrency. As relationships increasingly flourish on social media and various online platforms, scammers exploit these connections to perpetrate elaborate schemes aimed at defrauding unsuspecting victims. Federal officials have raised alarms about this growing threat, shedding light
In American society, few subjects evoke as much discomfort as discussions surrounding finances. Recent studies underscore this phenomenon, revealing that many individuals would rather disclose their political preferences than share details about their financial situations. For instance, a survey conducted by U.S. Bank involving 3,500 participants reveals a striking reluctance among Americans to engage in
Recent developments in the landscape of student loans have created a precarious situation for millions of American borrowers. As the one-year grace period that allowed borrowers to miss payments without damaging their credit comes to a close, the urgency for a reevaluation of financial strategies is more pressing than ever. While the intention behind the
The United States is approaching a significant election this November, and with it comes an array of concerns and considerations that weigh heavily on Americans’ minds. While the excitement surrounding potential candidates and their platforms often takes center stage, it’s critical to recognize how the political landscape affects everyday financial decisions. The tendency for voters
The IRS, in collaboration with the U.S. Department of the Treasury, has unveiled exciting updates to its Direct File program, which provides a complimentary tax filing option for millions of Americans. Starting next year, the initiative will broaden its reach to over 30 million taxpayers across 24 states, marking a significant leap from its pilot