The unemployment rate in the United States has been relatively low, with 30 months at or below 4%. However, there is a population of individuals known as NEETs, which stands for “not in employment, education, or training,” who are opting out of the labor force due to discouragement from their economic circumstances. These NEET individuals
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A federal appeals court recently made a decision to allow a vital part of President Joe Biden’s student loan relief plan to proceed while legal challenges are ongoing. The 10th Circuit U.S. Court of Appeals granted the Biden administration’s request to stay an order that had temporarily blocked a provision of the Saving on a
The U.S. stock market has experienced a significant shift in recent years, with a handful of companies taking center stage. This trend has led to a situation where the top 10 companies in the S&P 500 now account for a substantial portion of the index, increasing from 14% to 27% over the past decade according
When it comes to planning for retirement, experts emphasize the importance of monitoring your savings rate and the total amount saved for your nest egg. However, determining the exact amount needed for retirement is heavily reliant on one factor that remains uncertain – life expectancy. Lisa Schilling from the Society of Actuaries Research Institute highlights
Lawmakers are showing increasing interest in taxing the ultra-rich, however, a recent Supreme Court ruling has raised concerns about the future of wealth tax proposals. In the case of Moore v. United States, the Supreme Court blocked a challenge to the “mandatory repatriation tax,” which is a one-time levy on certain foreign investments that was
Many Americans find themselves grappling with summer travel expenses long after the season has passed. According to a survey conducted by Bankrate in March, 36% of Americans are planning to go into debt in order to fund their summer vacation. The methods used to cover these expenses range from personal loans, buy now pay later
The premium tax credit is instrumental in making health insurance more affordable for those who purchase it through the federal marketplace. This credit allows participants to lower their insurance premiums upfront or claim a tax break when filing their return. The American Rescue Plan Act temporarily enhanced this credit during the COVID-19 pandemic, covering plans
The upcoming 2024 presidential debate between President Joe Biden and former President Donald Trump is expected to shed light on their respective stances on tax policy. One of the key issues up for discussion is the fate of the expiring tax breaks introduced through the Tax Cuts and Jobs Act of 2017 (TCJA). If Congress
Cody Gude, a 35-year-old from Tampa, Florida, was eagerly anticipating a decrease in his student loan payment from $200 to $100 due to the rollout of the Saving on a Valuable Education (SAVE) plan by President Joe Biden. This lower monthly payment meant he would no longer have to work extra delivering groceries on Instacart.
As individuals approach retirement with significant pre-tax 401(k) balances, it is crucial to have a comprehensive plan in place to manage future tax implications. According to financial experts, diligent savers could potentially encounter a “tax time bomb” once required minimum distributions (RMDs) come into play during retirement. Certified financial planner Scott Bishop highlights the impact