Tag: Finance News
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Federal Housing Department Approves Increased Voucher Payments in Los Angeles for Low-Income Residents
The Housing Authority of the City of Los Angeles (HACLA) submitted the request earlier this year. The Federal Housing Department has given its approval for the city of Los Angeles to raise the payment amounts for vouchers aiding low-income and homeless residents with their rent These new voucher payment standards (VPS) will be enforced from…
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Living In States That Don’t Tax Social Security Benefits To Provide Relief For Retirees – Check Which States Are Included In The List!
How does living in states that don’t tax Social Security benefits provide relief for retirees? How Living in States That Don’t Tax Social Security Benefits Will Provide Relief for Eligible Residents After Retirement If you are nearing your retirement age, you should check if you are living in states that don’t tax Social Security benefits…
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Oil Prices Rise Amidst Expectations of Tighter Supplies, Overcoming Demand Concerns
This rebound was primarily driven by expectations of reduced supplies, which overshadowed concerns about potential demand slowdowns. Oil prices rise in Asian trading on Monday, bouncing back after their initial dip in four weeks Last week, oil prices rise around 0.8% lower, influenced by the Federal Reserve’s hawkish stance and its indication of prolonged high…
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Cost of Living Adjustment (COLA) Boosts Social Security Benefits for 2024
With over two decades of surveys, Gallup reveals that for retirees, at least 80% rely on their monthly benefits, while 76% to 88% of future retirees anticipate needing Social Security income to cover expenses. Social Security benefits are set to see a significant increase in 2024, as the annual Cost of Living Adjustment (COLA) is…
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Current Market Volatility Sees S&P 500 Drop 2.9% in Worst Week Since March
This marked the worst performance since March. Despite this, the index has shown a 12.5% increase year-to-date. The current market volatility witnessed a significant downturn last week, resulting in a 2.9% drop in the S&P 500, closing at 4,320.06 It’s up by 20.8% from its low of 3,577.03 on October 12, but down by 9.9%…
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Maximizing Individual Retirement Accounts: A Smart Strategy for Tax Efficiency
While taxes are an inevitable part of financial life, strategies exist to minimize contributions to the IRS. Individual Retirement Accounts (IRAs) provide a vital avenue for tax-conscious individuals to safeguard their income A standout option is capitalizing on the generous limits of 401(k) plans. Those below 50 years can stash away up to $22,500, while…
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Record-Breaking Mega Millions Lottery Jackpot Hits $230 Million as Winning Ticket Eludes Players Again
While the grand prize remained elusive, a ticket sold in Oregon did succeed in matching five numbers, albeit without the crucial Mega number, resulting in a substantial $1 million win. In the most recent Mega Millions Lottery drawing on Friday evening, no fortunate player managed to secure all six numbers, consequently propelling the projected jackpot…
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$1,312 2023 Permanent Fund Dividend Coming To Eligible Residents As Their Share Of Alaska’s Natural Resource Wealth
A $1,312 2023 Permanent Fund Dividend is coming to eligible residents as their share of Alaska’s natural resource wealth. 2023 Permanent Fund Dividend Worth $1,312 to be Sent to Eligible Residents as Part of Their Share of Alaska’s Natural Resource Wealth A 2023 Permanent Fund Dividend worth $1,312 is expected to be sent to residents…
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Understanding How the Interest Income Tax Rate Impacts Your Earnings
Investors utilizing high-yield savings accounts or certificates of deposit (CDs) for additional income may face tax implications. Interest income tax rates derived from various sources, including bonds, bank accounts, and investments, may be subject to ordinary income tax This tax rate applies uniformly to interest and ordinary dividends, aligning with an individual’s ordinary interest income…
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Mega Millions Jackpot Soars to $205 Million in Latest Drawing
The Mega Millions jackpot lucky numbers were unveiled shortly after 11 p.m. ET, and the results are now in. The Mega Millions jackpot has hit an impressive $205 million in the drawing held on September 22nd, creating a buzz among lottery enthusiasts across the nation Should there be a fortunate winner from Friday’s drawing who…