In the world of American taxation, few topics spark as much debate as the Qualified Business Income deduction, or QBI. Introduced as part of the Tax Cuts and Jobs Act in 2017, this provision was heralded as a boon for small business owners, freelancers, and gig workers alike. However, we must tread carefully when evaluating
Personal
In a decision that could reshape the future of retirement investing, the Trump administration has lifted previous restrictions on including cryptocurrency and digital assets in 401(k) plans. This move, which rescinds cautionary guidance established by the Biden Labor Department in 2022, raises numerous flags regarding the safety and integrity of retirement savings. The Guided approach
In a striking display of judicial power, U.S. District Judge Myong J. Joun’s recent injunction has thwarted President Donald Trump’s audacious plan to shift the management of federal student loans from the Department of Education to the Small Business Administration (SBA). This decision is not merely a legal ruling; it serves as a critical safeguard
The last few months have been akin to a turbulent rollercoaster experience for families with college savings plans. Various political factors, notably President Donald Trump’s shifting tariff policies, have cast a long shadow over the financial markets, creating a whirlwind of uncertainty. Amidst this fluctuation, many families banking on their 529 college savings plans might
Investors often find themselves navigating a complicated web of tax implications, particularly when it comes to mutual funds. Many individuals are unaware that even if they haven’t sold a single share of their mutual fund holdings, they could still be hit with a surprise tax bill at year-end due to capital gains distributions. This seemingly
In a political climate already ripe with contention, the recent advancement of a House Republican tax and spending bill—heralded as President Donald Trump’s “big, beautiful” tax initiative—leaves much to be desired. Touted for its increase in the child tax credit, this legislation appears to be a hollow promise for millions of low-income families who desperately
In an unexpected show of bipartisan support, the Senate recently rubber-stamped the “No Tax on Tips Act”, a move that aligns with the campaign rhetoric of former President Donald Trump as he gears up for another presidential run. At first glance, one might commend this act for its intention to alleviate the financial burdens of
In the wake of the Trump administration’s brutal resurgence of debt recovery on federal student loans, tens of millions of Americans find themselves in a precarious financial situation. The implications of this policy shift stretch far beyond the borrowers themselves. It effectively creates a domino effect, placing increasing pressure on an already strained consumer economy.
Recent shifts in consumer behavior reveal an unmistakable trend: Americans are bracing themselves for a different kind of economic landscape, one defined not by indulgence but by austerity. After a surge in panic buying, triggered by unexpected economic pressures, a majority are now prepared to tighten their belts. This change, notwithstanding its necessity in troubled
In an age where higher education is touted as the pathway to prosperity, the harsh reality of student debt renders many graduates trapped in a relentless cycle of financial despair. Jason Collier, a dedicated special education teacher in Virginia, epitomizes the struggle of countless Americans navigating the treacherous waters of education financing. At 46, he