Guiding the Way to Financial Freedom
The U.S. housing market is at a turning point. High mortgage rates mean prices might drop, giving buyers a chance to get their foot in the door. Meanwhile, sellers face new challenges as interest rates and the number of homes for sale change. U.S. Housing Market Hits Rock Bottom According to the CEO of real … Read more
While some antique books sell for pennies at thrift stores and used bookshops, others are sold for more than the price of a new house. First editions or special editions of iconic literary works can sell for thousands and, in some cases, millions. People value first editions, copies signed by the author, misprints, original dust … Read more
New York’s reputation as America’s financial powerhouse is under threat. High taxes and a less-than-friendly business environment have driven away high-earning residents, putting the state’s financial industry—and by extension, its economy—at risk. The Empire State’s Decline New York is seeing a drop in its financial prowess. A recent study shows that the state’s status as … Read more
Before COVID-19, nearly half of all working women — 28 million — worked in jobs paying low wages. Sadly, that hasn’t changed in three years. It’s even worse for women of color. Even in traditionally higher-paying and more equitable industries and careers, women are typically paid 92 cents for every dollar a man earns. Disrupted … Read more
In an era where economic pressures are mounting, Gen Z is faced with living with their parents to save money or venture out and bear the brunt of high living costs. While seemingly pragmatic, this decision carries long-term consequences that extend beyond finances, affecting their emotional well-being and progression into adulthood. Surge in Multigenerational Living … Read more
Making six figures used to mean you were solidly middle class in the U.S., but that is not really the case anymore in some of the priciest cities. A new study shows that in certain spots, you have got to be pulling in as much as $150,000 to get past the lower middle-class mark. It … Read more
As tax season approaches, the Internal Revenue Service (IRS) has introduced a checklist designed to make the tax filing process easier for 2023 returns. The checklist includes a mix of traditional preparation tips and provides new technological aids. The IRS’s updated guidance follows the country’s tax authority’s increased scrutiny of taxpayers with more audits. Preparation … Read more
The complexity of tax documentation can overwhelm even the most diligent taxpayer. Fortunately, the IRS wants to simplify its communications to make life easier for millions. It has commenced a new initiative to make tax notices more accessible and understandable. The Taxpayer’s Burden The average American taxpayer faces a daunting challenge each year thanks to … Read more
In the U.S., young adults are facing financial challenges unlike those of their parents. The burden of debt driven by enormous mortgages and students loans are having a dramatic impact on key life milestones. Financial Dependence on Parents The Pew Research Center reports that less than half of 18- to 34-year-olds are fully financially independent … Read more
Understanding tax credits can be incredibly complex, yet to ensure one can benefit from all that is available it is crucial to know what opportunities lie within the U.S. tax system. Understanding Tax Credits Tax credits are not mere deductions; they are even more valuable. As Eric Bronnenkant, head of tax at Betterment, states, “This … Read more