Customers shop for produce at an H-E-B grocery store on Feb. 12, 2025 in Austin, Texas. Brandon Bell | Getty Images Millions of Social Security beneficiaries may see a 2.7% to 2.8% increase to their monthly checks in 2026, according to new estimates based on the latest government inflation data. A 2.8% Social Security cost-of-living […]
Who qualifies for the ‘no tax on tips’ deduction? It’s complicated
Lighthouse Films | Digitalvision | Getty Images The U.S. Department of the Treasury in August released a preliminary list of 68 occupations that may be eligible for President Donald Trump‘s “no tax on tips” deduction. But some jobs from the list ultimately may not qualify, experts say. Both parties floated “no tax on tips” during […]
Retirement will ‘take a miracle’ for 21%, Natixis survey finds
Helovi | E+ | Getty Images Americans are feeling more optimistic when it comes to retirement. Just 21% Americans surveyed by Natixis Investment Managers said it will “take a miracle” to have a secure retirement, down almost half from 41% who said the same in 2021. Part of that confidence stems from the S&P 500 […]
How to get the best mortgage rates as 30-year fixed nears 1-year low
The average rate on the 30-year fixed mortgage notched its biggest one-day drop in more than a year on Friday. Although mortgage rates are now at their lowest level since October, the average rate for a 30-year, fixed-rate mortgage is still just around 6.29%, according to Mortgage News Daily — a big leap from the under […]
Student loan payments on pause? What to know
Damircudic | E+ | Getty Images There’s been a sharp uptick in the number of student loan borrowers hitting the pause button on their monthly bills. The U.S. Department of Education offers two primary ways to postpone your payments — deferments and forbearances. Between those statuses, more than a quarter of the country’s over 40 […]
How to invest in gold amid the precious metal’s record run
Gold prices notched another fresh record this week as more investors piled into the metal amid economic uncertainty and rising bets for a Federal Reserve rate cut. So far this year, bullion has gained about 35% as of Friday’s close. Spot gold is now near $3,600 an ounce. “Without a doubt, gold has been trending higher, and it’s […]
Higher SALT deduction relieves homeowners, adds to national debt
President Donald Trump‘s “big beautiful bill” raised the state and local tax deduction, known as SALT, to $40,000 for 2025. The change comes less than a decade after a cap was placed on this tax break for the first time in its history. Taxpayers who itemize tax breaks can claim the SALT deduction, which includes state and […]
No tax on Social Security benefits: Senator introduces bill
A Social Security Administration (SSA) office in Washington, DC, March 26, 2025. Saul Loeb | Afp | Getty Images President Donald Trump’s “big beautiful bill” provides relief to certain Social Security beneficiaries who pay taxes on their benefits. But it doesn’t eliminate those levies entirely. Now, Sen. Ruben Gallego, D-Arizona, introduced a bill on Thursday […]
Treasury names jobs for Trump’s ‘no tax on tips’ deduction
President Donald Trump arrives to speak on his plan to end tax on tips in Las Vegas, Jan. 25, 2025. Mandel Ngan | Afp | Getty Images Who qualifies for ‘no tax on tips’ The Treasury’s preliminary list outlined 68 occupations that “customarily and regularly received tips” on or before Dec. 31, 2024, which would […]
How to leverage 0% capital gains taxes under Trump’s ‘big beautiful bill’
D3sign | Moment | Getty Images Many investors don’t know about the 0% capital gains bracket, which allows you to “harvest gains,” or sell profitable assets, without triggering taxes. With new deductions added for 2025, more investors could qualify for the 0% bracket under President Donald Trump‘s “big beautiful bill.″ That could offer a “golden […]