As we usher in 2024, Bitcoin has made headlines by experiencing a staggering price increase of roughly 125% throughout the year, eventually closing near $94,000 after beginning in the low $40,000s. The allure of such significant returns can be irresistible, particularly for new retail investors eager to capitalize on the bullish momentum. Nevertheless, experts advocate
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As we approach the 2025 tax filing season, the anticipation builds among taxpayers eager to submit their individual tax returns for the 2024 fiscal year. The IRS has slated January 27, 2025, as the inaugural date when it will start accepting and processing these returns. This deadline marks a crucial time for those wishing to
Each new year brings an opportunity for reflection and change, prompting many individuals to set personal resolutions. One of the most notable trends in recent years has been the increasing popularity of Dry January, a movement whereby participants abstain from alcohol for the first month of the year. According to a report from Morning Consult,
The recent passage of the Social Security Fairness Act marks a significant shift in how retirement benefits are delivered to millions of Americans, as nearly 3 million people stand to gain from increased Social Security payments. Championed by President Joe Biden, this law aims to rectify inequities affecting individuals in public sector jobs—such as police
As the deadline for the fourth-quarter estimated tax payment approaches on January 15, 2024, taxpayers must be vigilant about their financial obligations to avoid unnecessary penalties. The IRS has made it clear that missing this deadline could lead to unexpected charges that can complicate one’s tax return filing. Estimated taxes primarily apply to income derived
As 2025 begins, financial stability seems to be slipping away from many Americans, particularly in the realm of credit card debt. A recent analysis from Bankrate reveals that a staggering 48% of credit cardholders now find themselves carrying debt month to month, a notable increase from 44% at the onset of 2024. This trend raises
For many borrowers, managing student loans can be a daunting task; however, there is a silver lining when it comes to tax season. The student loan interest deduction offers significant relief, allowing eligible taxpayers to deduct up to $2,500 of interest paid on their federal or private education loans. This deduction can play a crucial
In the wake of financial adjustments announced by the IRS, employees welcoming the first paycheck of 2025 may notice a slight increase in their take-home pay. The IRS has officially raised the federal income tax brackets, resulting in around a 2.8% increase in income thresholds. This adjustment reflects a more conservative response to inflation compared
In a significant policy shift, the Consumer Financial Protection Bureau (CFPB) announced the finalization of a rule that will dramatically affect the financial landscape for millions of Americans burdened by medical debt. This landmark decision, disclosed on Tuesday, seeks to alleviate approximately $49 billion worth of medical debt from the credit reports of about 15
As the financial landscape evolves, target-date funds (TDFs) have emerged as a popular choice for retirement savings, particularly among participants of 401(k) plans. While these funds provide a straightforward approach to investment, they come with both advantages and disadvantages that warrant careful consideration. According to data released by the Plan Sponsor Council of America, approximately