The issue of student loan forgiveness has become increasingly contentious in recent years. The Biden administration’s proposal to cancel student debt has sparked heated debates across the country. Individuals like Arkansas Attorney General Tim Griffin, who took over 30 years to pay off his $100,000 student loan balance, question the fairness of debt cancellation. On
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When it comes to managing your finances, it is crucial to stay on top of your tax obligations. The second-quarter estimated tax deadline for 2024 is June 17, and failure to send a payment could result in penalties imposed by the IRS. This deadline is particularly important for individuals who have income sources without withholdings,
When assessing your retirement readiness, it is common to compare your 401(k) balance to others to gauge progress. Recent data from Fidelity reveals that the average 401(k) balance among investors on the platform was $125,900 in the first quarter. However, breaking down this data by age group may not provide an accurate comparison. Instead, looking
Gen Z is proving to be ahead of the curve when it comes to investing. According to the 2024 Schwab Modern Wealth survey, Gen Z adults are starting to invest and save at an average age of 19. This is a stark difference from baby boomers, who typically began investing at the age of 35,
The real estate market is experiencing a surge in new listings, with a 13% increase from a year ago as reported by Zillow. However, this influx of properties is not translating into quick sales due to escalating prices and interest rates. Senior economist at Zillow, Orphe Divounguy, points out that while there is an uptick
In a recent Senate Budget Committee hearing, lawmakers and experts discussed various Democratic proposals for increasing taxes on corporations and wealthy Americans. The proponents of these plans argue that higher taxes are necessary to address income inequality and reduce the federal budget deficit. Joseph Stiglitz, a professor of economics at Columbia University, emphasized that higher
The federal government recently announced that it has issued over $1 billion in tax credits as an upfront cash incentive to buyers of electric vehicles. This program aims to make EVs more affordable for many households relative to their gasoline-powered counterparts and is a big component of the Biden administration’s push to reduce U.S. greenhouse
As the 2025 deadline for the expiration of crucial tax breaks enacted by former President Donald Trump approaches, both President Joe Biden and Trump have pledged to extend these provisions for most Americans. However, the real challenge lies in determining how these extensions will be funded given the looming federal budget deficit. This article aims
It has been 50 years since the Supplemental Security Income (SSI) program was first introduced to provide financial assistance to people with disabilities and older adults. Initially, the program started by issuing monthly benefit payments of around $140 per individual or $210 per couple. Fast forward to 2024, and the maximum monthly benefit has increased
As a U.S. citizen or resident alien living outside the country, it is crucial to be aware of the tax filing deadline extension. While the regular deadline for most taxpayers was April 15, there is an automatic two-month extension until June 17 for those who qualify. The two ways to be eligible for the June