Advisors

A trader wears a Trump hat as he works on the floor of the New York Stock Exchange during the opening bell on Nov. 6, 2024. Timothy A. Clary | Afp | Getty Images On Nov. 5, the presidential election handed a decisive victory for President-elect Donald Trump. In the days that followed, the markets

Hispanolistic | E+ | Getty Images Crypto investors could face higher taxes amid the surging price of bitcoin. But if you’re in the 0% capital gains bracket, you can reduce future taxes with a lesser-known strategy, experts say.  The tactic, known as tax-gain harvesting, is selling profitable crypto in a lower-income year. You can leverage the

Chesnot | Getty Images Amid the latest bitcoin rally, crypto investors face a looming deadline that could impact future taxes — and they must take action before Jan. 1, 2025. The U.S. Department of the Treasury and IRS in July unveiled final tax reporting rules for digital asset brokers, with phased-in guidelines. Starting in 2026, brokers will

Baona | E+ | Getty Images Many Americans haven’t saved enough for retirement. However, a big change to 401(k) plans could provide a boost for older workers. The IRS in November unveiled higher 401(k) contribution limits for 2025, with employee deferrals jumping to $23,500, up from $23,000 in 2024. While the catch-up contribution remains unchanged

Laylabird | E+ | Getty Images Most Americans will have a lower tax burden in retirement than during their working years. However, that may not be the case for some retirees, especially for higher earners and big savers, which could have a significant impact on their financial plans, according to financial advisors. “Substantial evidence” suggests

Andrew Bret Wallis | The Image Bank | Getty Images After a spouse dies, some retirees face a costly surprise — higher taxes. Couples, however, can reduce the burden with early planning, financial experts say. The shift from married filing jointly to single on future tax returns can trigger a “survivor’s penalty,” depending on whether

Republican presidential nominee and former U.S. President Donald Trump holds a rally in Saginaw, Michigan, U.S., October 3, 2024. Democratic presidential nominee U.S. Vice President Kamala Harris and Vice-Presidential candidate Tim Walz speaks during a campaign rally and concert in Ann Arbor, Michigan, U.S. October 28, 2024. Brendan McDermid | Evelyn Hockstein | Reuters Former

This combination of pictures created on October 25, 2024 shows US Vice-President and Democratic Presidential candidate Kamala Harris in Houston, Texas on October 25, 2024 and former US President Republican presidential candidate Donald Trump in East Del Valle, Austin, Texas on October 25, 2024.  Getty Images As millions of Americans cast ballots on election day,

A voter works on his ballot at a polling station at theElena Bozeman Government Center in Arlington, Virginia, on September 20, 2024. Early in-person voting for the 2024 US presidential election began in Virginia, South Dakota and Minnesota.  – | Afp | Getty Images Many investors worry their investments may be affected by the outcome

This year is a “super election year,” with more than 60 countries — encompassing around half of the world’s population — hosting national elections, according to Statista. Promoting a healthy economy is high on the list of expectations of voters globally, according to a recent report by Principal Financial Group. But even when the economy

At the national level, the middle class is typically defined as households that earn between two-thirds and double the household median income. Based on 2023 figures, that means those with an annual income between $53,740 and $161,220. Compared to its peak, inflation in the U.S. has eased substantially. According to the Bureau of Labor Statistics,

Andreswd | E+ | Getty Images The great wealth transfer is underway — and families need to prepare, according to certified financial planner Stacy Francis, president and CEO of Francis Financial in New York City. An estimated $84 trillion of wealth will change hands by 2045, with the majority going to Gen X and millennial