The U.S. Department of Education has revealed additional information about the upcoming rollout of the 2025-26 Free Application for Federal Student Aid (FAFSA). The new application will undergo beta testing with limited groups of students starting on October 1, before being released to all students and contributors on or before December 1. According to the
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In a year where the stock market is performing exceptionally well, it is crucial to consider alternative strategies to rebalance your portfolio and secure future tax savings. One such strategy that is often overlooked is tax-gain harvesting. This tactic involves strategically selling profitable assets in your brokerage account during years with lower income, such as
The cost of attending college is skyrocketing, with some institutions now approaching the six-figure mark for a single academic year. Schools like New York University, Tufts, and Yale are among those with a sticker price of more than $90,000, and projections suggest that this amount could exceed $100,000 by 2026. This steep increase in tuition
In recent years, the federal government has been cracking down on individuals with seriously delinquent tax debts by revoking or limiting their passports. This enforcement mechanism, which has been in place since 2018, serves as a last resort to collect unpaid tax levies according to experts. Should taxpayers fail to resolve their debt, they may
Minnesota Gov. Tim Walz recently highlighted the importance of Social Security survivor benefits in his family’s life during his speech at the Democratic National Convention. His personal experience shed light on the pivotal role these benefits play in supporting families who have lost a parent. Despite the significant impact these benefits can have, many families
The recent statements made by Federal Reserve Chair Jerome Powell have raised speculation about a potential interest rate cut in the near future. This move, if implemented, would be the first rate cut in over four years, marking a significant shift in monetary policy. Experts are predicting that this adjustment may come as soon as
The recent massive data breach at National Public Data, a background check company owned by Jerico Pictures Inc., has raised concerns about the security of personal information. The breach, which may have exposed over 2.9 billion personal records, has sparked fears among consumers about the safety of their sensitive data. While the company has released
When it comes to 401(k) contributions, there is a fine line between maximizing your savings and making financially sound decisions. While it is tempting to contribute the maximum amount allowed into your 401(k) plan, it may not be the best choice for everyone. Financial advisors advise that before making the decision to maximize your contributions,
The Covid-19 pandemic brought about a significant change in the labor market dynamics of the United States. Remote work, which was once considered a temporary solution, has now become a permanent fixture, according to economists. Nick Bunker, the economic research director for North America at job site Indeed, describes the work-from-home revolution as one of
As retirees, it is crucial to have a clear understanding of the various sources of income that may be available to you, including Social Security, pensions, retirement plans, and other financial resources. Managing these income streams effectively requires careful planning to ensure compliance with IRS regulations and avoid potential penalties. For the year 2024, retirees