UpperCut Images | UpperCut Images | Getty Images Student athletes and their parents have likely heard that the NCAA has opened the door to allow collegiate athletes the ability to profit off their name, image and likeness. The NCAA policy, which took effect in July 1, will allow college athletes and recruits to make money
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FatCamera | E+ | Getty Images It’s a situation that appears incongruous: Congressional Democrats want to expand Medicare’s benefits while a trust fund that supports the program is facing insolvency. Indeed, some Republican lawmakers have seized on that looming problem as a reason to oppose a proposal to add dental, vision and hearing coverage to
Sometimes an investment is too good to be true. As Elizabeth Holmes, founder and former CEO of Theranos, goes on trial on allegations of defrauding investors and patients, her health-care start-up may be a prime example. Nearly a decade ago, investors, including media mogul Rupert Murdoch, former Education Secretary Betsy DeVos and the Walton family
Getty Images Many Americans know the benefit of retirement savings, yet few realize there’s a special incentive to set aside money for their golden years: the saver’s credit. The saver’s credit, formerly known as the retirement savings contributions credit, offers low- and moderate-income filers a write-off at tax time. Currently, savers may claim up to
mediaphotos | E+ | Getty Images As our elected officials debate how best to address a national debt approaching $30 trillion while simultaneously increasing spending levels and addressing wealth inequality, it should not be surprising that tax policy is at the forefront of the discussion In that context, there has been an especially intense focus
Getty Images There has been a recent flood of “math error” notices from the IRS, which have been confusing for taxpayers and difficult to resolve, financial experts say. The IRS sent roughly 9 million such alerts from Jan. 1 through July 15, up from 628,997 in the same period last year, according to Taxpayer Advocate
JGI/Jamie Grill It appears most workers have to wait years for a company’s 401(k) matching contributions to become entirely theirs. The majority (82%) of employers that offer traditional 401(k) plans say they match a portion of their workers’ account contributions, according to a report from human resources firm XpertHR. However, the research shows that just
MANDEL NGAN | AFP | Getty Images Democrats may change the rules for “mega” individual retirement accounts with more than $5 million to help fund their expansion of the country’s safety net. “Mega retirement accounts” are among roughly two dozen tax categories congressional Democrats are eyeing to help raise money for a $3.5 trillion spending
Westend61 | Westend61 | Getty Images Recent upticks in inflation have renewed interest from investors in assets that may help preserve the real (inflation-adjusted) value and purchasing power of their portfolio. The good news is that the typical investor’s portfolio will likely contain all the inflation-fighting tools that they need — such as stocks and
Sinenkiy | iStock | Getty Images The Social Security cost-of-living adjustment for 2022 could be the highest it has been in decades. The latest estimates from The Senior Citizens League, a nonpartisan senior group, point to a possible 6.2% increase for next year based on the latest Consumer Price Index data. In comparison, this year’s
VALERIE MACON | AFP | Getty Images Social Security will be able to pay full benefits for just another 12 years, according to new estimates released this week. Experts, however. say that does not mean you should dramatically change your Social Security claiming strategy. Each year, the Social Security Administration releases an annual trustees report
Zero Creatives | Image Source | Getty Images The response to Covid-19 has marked a historic expansion in the size and coverage of government support for people experiencing unemployment. As we near the end of expanded federal unemployment insurance benefits, state governors now face a choice of whether to continue them. To that point, the