If you’re racing to file taxes, you could miss another key deadline — the April 15 due date for first-quarter estimated tax payments. Estimated tax payments typically apply to earnings from gig economy work, freelancing, small business, retirement or investing, which may have no tax withholdings. If you expect to owe at least $1,000 in … Read more
A New York Community Bank stands in Brooklyn on February 08, 2024 in New York City. Spencer Platt | Getty Images New York Community Bank, the regional lender that needed a $1 billion-plus lifeline last month, is offering the country’s highest interest rate for a savings account. NYCB raised the annual percentage yield offered via … Read more
Riska | E+ | Getty Images It may be a while longer before the Federal Reserve lowers interest rates, experts now say. That means savers can still earn the best returns on their cash in years, following a “nuclear winter for the better part of the last 15 years,” said Greg McBride, chief financial analyst … Read more
D3sign | Moment | Getty Images With one week until the April 15 federal tax deadline, the IRS has released an “important update” for Direct File, the agency’s free tax filing program. Since March 12, the pilot program has been fully open for certain filers in 12 states, and Direct File now allows users to … Read more
Songsak Rohprasit | Moment | Getty Images The tax deadline is approaching and some filers are turning to chatbots powered by artificial intelligence for help with returns. But taxpayers should be wary of generative AI — which uses artificial intelligence to create content — for tax advice, experts say. Nearly 1 in 5 Americans would … Read more
Taylor Swift performs onstage for the opening night of “Taylor Swift | The Eras Tour” at State Farm Stadium. Kevin Mazur | Getty Images Entertainment | Getty Images Revenge spending is not dead. Even as Americans owe $1.13 trillion on their credit cards, consumers are still willing to splurge on impulsive purchases. It’s a phenomenon also known as … Read more
A man sits on the Wall street bull near the New York Stock Exchange (NYSE) on November 24, 2020 in New York City. Spencer Platt | Getty Images The stock market could reach a milestone if the Dow Jones Industrial Average reaches 40,000. However, even as stocks have climbed higher, investors are worried there could … Read more
Halfpoint Images | Moment | Getty Images Some retirement savers can still snag an extra tax incentive for 2023. However, most eligible filers don’t claim it, according to the IRS. The retirement savings contribution credit, or “saver’s credit,” can help low- to moderate-income filers offset part of the funds added to an individual retirement account, … Read more
Mstudioimages | E+ | Getty Images Social Security beneficiaries who owe money to the Social Security Administration may see much lower default withholding rates from their monthly checks, thanks to new policies that are going into effect. As of March 25, the Social Security Administration will no longer collect 100% of a total monthly Social … Read more
Drakula & Co. | Moment | Getty Images More from Smart Tax Planning: Here’s a look at more tax-planning news. 1. Get an ‘immediate deduction’ from your IRA One of the first options is a pretax individual retirement account contribution, according to Mark Steber, chief tax information officer at Jackson Hewitt. “They’re still very popular … Read more
