Personal

For many taxpayers, particularly those with varied sources of income, the deadline for estimated tax payments can often sneak up unexpectedly. The fourth-quarter estimated tax payment for the 2024 filing year is due on January 15, 2025. Missing this deadline can have significant consequences, including incurring “unexpected penalties and fees” as outlined by the IRS.
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The recent confirmation of the Social Security Fairness Act introduced by President Joe Biden represents a significant shift in how Social Security benefits are allocated, primarily impacting nearly 3 million beneficiaries across the country. This legislation, which garnered strong bipartisan support, aims to amend existing policy that disproportionately affected public sector workers, including firefighters, teachers,
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As borrowers cautiously resume their financial commitments in the wake of the student loan payment pause, a critical aspect of tax planning emerges: the student loan interest deduction. This provision enables eligible individuals to deduct as much as $2,500 from their taxable income for interest accrued on qualifying student loans—both federal and private. Historically, this
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On a significant day for American consumers, the Consumer Financial Protection Bureau (CFPB) shaped the landscape of personal finance by announcing a transformative rule aimed at alleviating the burden of medical debt on credit reports. By removing approximately $49 billion in medical debt from the financial histories of those affected, this change stands to benefit
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In recent years, target-date funds (TDFs) have emerged as one of the predominant investment options available within 401(k) retirement plans. Their appeal lies in the simplicity they offer to investors, allowing individuals who may lack investment expertise or time to engage in complex financial planning to still allocate their retirement savings efficiently. As of 2023,
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