As Bitcoin surges to new heights in 2024, it may invoke the age-old allure of riches in the minds of many investors. However, before diving into the crypto pool headfirst, it’s imperative to approach with caution. Financial experts have consistently emphasized that cryptocurrencies like Bitcoin should occupy only a minor segment of investment portfolios. Generally,
Personal
The 2025 tax filing season is set to commence on January 27, marking an important date for individuals preparing to submit their federal tax returns for the previous year. Taxpayers must be mindful that the deadline for filing these returns and paying any taxes owed is April 15, 2025. This date looms crucial as it
As the new year unfolds, many individuals engage in the annual tradition of setting resolutions to improve their lives. Among these, participating in a month-long abstinence from alcohol, known as Dry January, has gained remarkable popularity. Recent data reveals that 22% of adults are choosing to forgo alcohol for the entire month, marking an increase
The landscape of Social Security benefits has dramatically shifted following the recent enactment of the Social Security Fairness Act. Signed into law by President Joe Biden, this legislation stands to impact nearly 3 million individuals by re-establishing the benefits of those previously hindered by pension offsets associated with public sector employment. While this is largely
The looming deadline of January 15 for submitting estimated taxes is critical for taxpayers, particularly those who rely on variable income sources like freelance gigs, small businesses, or investment earnings. Failing to adhere to this deadline can lead to severe financial repercussions, as the IRS warns of potential penalties and interest charges that could complicate
For student loan borrowers, one silver lining amidst the looming responsibilities of repayment is the potential for tax benefits. The student loan interest deduction allows qualifying individuals to deduct up to $2,500 annually on the interest accrued from either federal or private education loans. This benefit, though often overlooked, offers significant tax relief for borrowers
As the clock strikes 2025, a considerable number of Americans are greeted with a grim reality regarding their financial health, particularly concerning credit card debt. According to a recent report from Bankrate, nearly half of all credit cardholders—48% to be precise—find themselves in a position where they are carrying debt from one month to the
In the ever-evolving landscape of personal finance, the arrival of the new year often brings anxieties and anticipation regarding tax changes. As we step into 2025, many American workers will notice a shift in their paychecks, thanks to recent adjustments made by the IRS. In October, the Internal Revenue Service announced an increase in federal
In a significant move aimed at alleviating the financial burden of medical debt, the Consumer Financial Protection Bureau (CFPB) recently finalized a rule that could remove approximately $49 billion in medical debt from the credit reports of American consumers. This sweeping reform is expected to positively impact around 15 million individuals, offering them a chance
Target-date funds (TDFs) have gained significant traction in the realm of retirement savings, particularly within 401(k) plans. Designed to simplify the investment process, these funds automatically adjust their asset allocation based on an investor’s target retirement date. This hands-off approach has led to their prevalence; approximately 29% of assets in 401(k) plans were allocated to