A customer walks by a display of fresh eggs at a grocery store on Sept. 25, 2024 in San Anselmo, California. Justin Sullivan | Getty Images It’s déjà vu for grocery shoppers, as the price of those Grade A eggs has spiked in recent months, just two years after egg prices soared to record highs. […]
Here’s the deadline for required minimum distributions for 2024
Eclipse_images | E+ | Getty Images Large balances can cause a ‘tax nightmare’ For some investors, bigger pretax accounts can be “a tax nightmare in retirement” when it’s time for RMDs, certified financial planner Derek Williams with Veratis Advisors in Cary, North Carolina previously told CNBC. Pretax RMDs boost your adjusted gross income, which can […]
Economists ‘really had it wrong’ about recession: market strategist
David Zervos, Jefferies Scott Mlyn | CNBC The Federal Reserve is expected to cut interest rates by another quarter point at the conclusion of its two-day meeting next week. “Two years ago … 3 out of 4 economists were saying we’re going into a recession,” David Zervos, chief market strategist for Jefferies LLC, said during CNBC’s […]
Here’s how to pay for taxes on your Roth IRA conversion, advisors say
Srdjanpav | E+ | Getty Images More from FA Playbook: Here’s a look at other stories impacting the financial advisor business. When a Roth conversion is completed, you’ll owe regular income taxes on the converted balance, based on your current-year taxable income. Ideally, you’re “managing the tax bracket,” said CFP Jim Guarino, managing director at […]
Treasury may fine small businesses up to $10,000 if they don’t file this report
Treasury Secretary Janet Yellen following a tour of the Financial Crimes Enforcement Network (FinCEN) in Vienna, Virginia, on Jan. 8, 2024. Valerie Plesch/Bloomberg via Getty Images Small businesses and their owners could face penalties of $10,000 or more if they don’t comply with a new U.S. Treasury Department reporting requirement by year’s end — and […]
Retail returns: An $890 billion problem
A driver for an independent contractor to FedEx delivers packages on Cyber Monday in New York, US, on Monday, Nov. 27, 2023. Stephanie Keith | Bloomberg | Getty Images Holiday shopping is expected to reach record levels this year. But a growing share of those purchases will be sent back. Returns in 2024 are expected to […]
What to know before taking your first required minimum distribution
Grace Cary | Moment | Getty Images After decades of building your nest egg, you will eventually have to start taking required minimum distributions, or RMDs, from pretax retirement accounts. The first RMD can be tricky, according to financial experts. Since 2023, most retirees must begin RMDs at age 73. The first deadline is April […]
Mocha mousse is the 2025 color of the year
PANTONE 17-1230 Mocha Mousse, Color of the Year 2025. Courtesy: Pantone “Mocha Mousse” was dubbed 2025’s color of the year, according to the Pantone Color Institute, which it described as “a warming, brown hue imbued with richness.” Leatrice Eiseman, executive director Pantone Color Institute, described the shade as “sophisticated and lush, yet at the same […]
More employers add 401(k) plan match for workers paying student loans
Morsa Images | Digitalvision | Getty Images Companies can now offer their workers a “match” on their student loan payments in the form of a contribution to their 401(k) plan — and a small but growing number of employers are taking advantage of the option. Traditionally, companies have only paid a 401(k) match to workers […]
Medicare open enrollment ends Dec. 7. These last-minute tips can help
The Good Brigade | DigitalVision | Getty Images Older Americans have just a few days left to evaluate their Medicare coverage for next year. Medicare’s annual open enrollment period for health plans and prescription drug coverage runs until Dec. 7. Experts say it’s worthwhile for Medicare’s 67.8 million beneficiaries to make sure they have the […]