As the 2025 tax season gets underway, there’s some good news for taxpayers looking to avoid the cost and hassle of tax preparation services. The IRS is expanding its Direct File program, a free online tool designed to help you prepare and file your federal tax return without paying a cent. Whether you’re tired of…
Social Security benefits are a crucial part of retirement income for millions of Americans, but many recipients are shocked to see deductions eating into their monthly checks. From healthcare costs to federal taxes, understanding what gets taken out can help you plan ahead and avoid surprises. Here are nine common deductions you should be aware…
Many retirees are considering a return to the workforce, whether it’s for extra income, personal fulfillment, or both. But before you jump back in, it’s important to understand how working again could impact your Social Security benefits, taxes, and retirement savings. Here’s a breakdown of what you need to know. How Social Security Benefits Are…
Elon Musk has once again stirred up public debate after claiming that he “deleted” a government team behind the IRS’s free tax filing program. But is this actually true? His statement caused a wave of confusion, especially among taxpayers eager to use the program this season. Here’s what’s going on, what’s real, and what it…
Claiming Social Security early sounds tempting, but how much does it actually cost you each month? Thousands of Americans consider this question each year, and understanding the real numbers could help you avoid major financial surprises. Here’s what you need to know. The Basics of Claiming Early You can start receiving Social Security retirement benefits…
The Social Security Administration (SSA) has officially announced an increase to the maximum taxable wage limit for 2025, raising it from $168,600 in 2024 to $176,100. This 4.4% increase means high earners will see a larger portion of their income subject to the 6.2% Social Security payroll tax starting next year. For employees, the Social…
Families across the United States received much-needed financial relief in November 2024, with some qualifying for up to $1,500 in state child stimulus payments. This comes alongside the ongoing federal Child Tax Credit (CTC) program, offering additional financial benefits to help ease the burden on parents and guardians. Let’s break down how these payments work,…
The U.S. government rolled out a series of stimulus payments to help Americans recover from the financial stress caused by the COVID-19 pandemic. These payments included $1,200, $1,400, and ongoing discussions of a possible $2,000 check. But who qualifies, and when can beneficiaries of Veterans Affairs (VA), Supplemental Security Income (SSI), and Social Security Disability…
If you’ve heard the buzz about a massive $5,500 stimulus check headed your way in February 2025, you’re not alone. But before you get your hopes up, let’s clear up what’s fact and what’s fiction. Despite the excitement, there is currently no official confirmation from the government or the Social Security Administration (SSA) about such…
Amid online buzz about a one-time $3,500 payment and a $1,000 monthly boost for Social Security, Supplemental Security Income (SSI), Social Security Disability Insurance (SSDI), and Veterans Affairs (VA) beneficiaries in 2025, many are wondering: Is this for real? Here’s what we know so far. Confirmed Changes for 2025: COLA Increase The Social Security Administration…