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…
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…
In the wake of a turbulent period for California property insurance companies, characterized by major insurers suspending or limiting coverage, the state’s chief regulator, California Insurance Commissioner Ricardo Lara, has announced plans to enact fresh regulations designed to incentivize insurance companies to continue operating in the nation’s most populous state. Seven out of California’s top…
This marks a significant increase from 2010, with over 44,000 renter households affected in 2022, compared to 36,000 in the previous decade. A recent analysis by the United Planning Organization (UPO) reveals a concerning trend in D.C., where over 50% of renters are allocating more than half of their income on rent and utilities The…
High gas prices reached over $4 in Arizona despite nationwide gas prices slowing down. High Gas Prices in Arizona Already Reach Over $4 Amidst Slowing Down of Nationwide Gas Prices High gas prices reached over $4 in Arizona despite nationwide gas prices slowing down, which resulted in Arizona being one of the states, where there…
With a staggering $1.7 trillion in loan debt impacting 43.5 million Americans, borrowers are urged to prepare for this transition. Federal student loan payments are set to recommence, marking a significant milestone since the pandemic-induced pause Jazmyne Harris, a student loan borrower, expressed her apprehension, echoing sentiments felt by many. “I’m not excited. I do…
The Pittsburgh Promise has announced that the class of 2028 will be the final cohort to benefit from this financial assistance. The Pittsburgh Promise, a scholarship program aiding students in Pittsburgh Public Schools to pursue higher education, is slated to conclude within the next five years In a communication addressed to families in Pittsburgh Public…
Student loan borrowers will expect garnishment of Social Security benefits following the student loan payments resumption after a three-year hiatus. Student Loan Borrowers to Expect Garnishment of Social Security Benefits Following Student Loan Payments Resumption Some student loan borrowers would expect garnishment of Social Security benefits after the resumption of student loan payments following a…
This decision impacts benchmark interest rates on various financial products across the US economy. Savers and those with surplus funds now have ample opportunities to achieve returns surpassing inflation rates. The benchmark interest rate set by the Federal Reserve remained unchanged, maintaining its highest level in over two decades Traditional brick-and-mortar giants like JPMorgan Chase…
The specter of mounting student loan debt looms large over millions of Americans, but proactive steps can be taken to avert this financial burden. In the quest to help their children avoid college debt, parents have more influence and options than they may realize It’s never too early for families planning for college to start…