As we approach the end of 2025, the countdown to the expiration of significant tax provisions under the Tax Cuts and Jobs Act (TCJA) looms large on the horizon. Enacted during former President Donald Trump’s administration in 2017, this legislation fundamentally altered the tax framework in the United States, offering numerous tax cuts and alterations
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As the election approaches, the influx of tax policy proposals can lead investors to feel overwhelmed and stressed. Experts warn that these emotions can trigger impulsive financial decisions. For instance, Democratic nominee Vice President Kamala Harris plans to introduce middle-class tax cuts while increasing taxes on the wealthiest Americans and corporations. On the other hand,
In the midst of a heated election season, the focus has shifted to potential changes in capital gains taxes and how they could influence investments. Democratic Vice Presidential nominee, Kamala Harris, made headlines last week with a proposal to set the long-term capital gains tax at 28% for individuals earning more than $1 million annually.
As the trend of elaborate dorm room designs continues to grow among college students, the need for dorm insurance has become a topic of discussion. Dorm insurance is essentially a personal property insurance designed for college students residing on campus. This type of insurance typically covers accidental and water damage and can cost up to
Recently, there has been a significant legal challenge to President Biden’s proposed plan for student loan forgiveness. Despite the promising news earlier this summer that debt relief was on the horizon for millions of federal student loan borrowers, a Republican-led lawsuit has managed to temporarily block the relief. U.S. District Judge Randal Hall in Augusta,
The IRS is still grappling with how to prevent increased audits on taxpayers earning less than $400,000. Despite this, certain aspects of your tax return can attract scrutiny, regardless of income. Experts caution that individuals should be aware of potential red flags that could prompt an audit. Although the IRS is concentrating its enforcement efforts
Vice President Kamala Harris has recently proposed an increase in the capital gains tax rate, specifically targeting households with an annual income of over $1 million. The suggested rate of 28% on long-term capital gains assets owned for more than a year is a significant jump from the current 20% rate applicable to top earners.
Gone are the days when coupons were only found in Sunday circulars. In today’s digital age, consumers have a plethora of options to save money, from online codes to browser extensions and money-saving apps. According to a recent study by SimplyCodes, Friday emerges as the best day for consumers to save money while shopping online.
Vice President Kamala Harris has recently outlined her economic agenda, which includes higher taxes on wealthy Americans and corporations. She has endorsed President Joe Biden’s proposed tax increases in his fiscal year 2025 budget, specifically supporting a 25% minimum tax on total income exceeding $100 million. This proposal, known as the billionaire minimum tax, aims
As the eligibility for Medicare begins at age 65 for most Americans, many younger retirees turn to Marketplace health insurance for coverage. This option provides lower monthly premiums until the end of 2025, thanks to enhanced tax breaks. The data from the Kaiser Family Foundation shows a significant increase in Marketplace coverage among Americans aged