Erin Collins, national taxpayer advocate at the Taxpayer Advocate Service, speaks at a Senate Appropriations subcommittee hearing in Washington, D.C., on May 19, 2021. Bloomberg | Bloomberg | Getty Images There’s a pileup of tax identity theft cases at the IRS — but the agency is working on a “range of improvements” to speed up … Read more
pixelfit | E+ | Getty Images Young, wealthy investors don’t want their parents’ investments. If you’re between the ages of 21 and 43 and have at least $3 million in investable assets, your preferred investments likely aren’t your traditional mix of stocks and bonds, according to new research from Bank of America. Nearly one-third of … Read more
Two winters ago, we vacationed to a hot-spot resort in the Caribbean with our family. Around the perimeter of its casino concourse, a variety of attractions buzzed for our consumption. We found an art installation to climb on, faux floral arches to position ourselves around and giant milkshakes topped with full desserts in sugar-rimmed glasses … Read more
Johner Images | Johner Images Royalty-free | Getty Images Many retirees don’t think about taxes until it’s time to withdraw funds from a pretax account, which can be a costly mistake, financial experts say. Only 3 in 10 Americans have a plan to reduce taxes on retirement savings, according to a Northwestern Mutual study from January … Read more
Tolgart | E+ | Getty Images Cybercriminals are targeting wealth accounts by tapping into a victim’s emotions. So-called romance scams involve building a relationship and trust with the victim so that the target willingly provides access to their accounts or transfers money to the criminal, explained Tracy Kitten, the director of fraud and security at … Read more
Skaman306 | Moment | Getty Images It wasn’t long ago that investors earned practically 0% returns on cash. As the Federal Reserve has kept interest rates high to combat high inflation, you can easily earn 5% annual percentage yields on savings accounts and other low risk vehicles. Some experts are now warning it’s possible to … Read more
Recep-bg | E+ | Getty Images The U.S. Department of the Treasury and IRS on Friday released final tax reporting rules for digital asset brokers — and crypto investors have limited time to prepare, experts say. Mandatory yearly reporting will phase in starting in 2026, with digital currency brokers required to cover gross proceeds from … Read more
At 32, after 12 years of living rent-free with my parents in the San Francisco Bay area, I was ready to move into my own place. I had saved $400,000 and had the flexibility to make the leap, but whether it was uncertain streams of income, wanderlust and mostly, the financial benefits of staying put, … Read more
Republican presidential candidate former U.S. President Donald Trump and Democratic Party presidential candidate U.S. President Joe Biden speak during a presidential debate in Atlanta, Georgia, U.S., June 27, 2024 in a combination photo. Brian Snyder | Reuters The future of Social Security and Medicare may be greatly impacted by whoever occupies the White House following … Read more
Taylor Swift fans queue outside Murrayfield Stadium in Edinburgh, Scotland, on June 6, 2024. Her fans, known as Swifties, had made the superstar $200 million in Eras merchandise sales as of November 2023. Jeff J Mitchell | Getty Images News | Getty Images The price of ‘funflation’ Some ticket prices have surged in recent months, … Read more
