[ad_1] Tom Werner | DigitalVision | Getty Images Certain tax credits have been reduced One possible reason for a smaller tax refund is the child tax credit and the child and dependent care tax credit have been reduced for 2022, explained certified financial planner Cecil Staton, president and wealth advisor …
Read More »35% of millionaires say they won’t have enough to retire, report finds
[ad_1] A cool $1 million is not what it used to be. There are more millionaires in the U.S. and globally than ever before, with nearly 24.5 million millionaires nationwide as of 2022, according to the latest Global Wealth Report from the Credit Suisse Research Institute. Even so, having seven …
Read More »Here’s why your tax refund may be smaller in 2023, the IRS says
[ad_1] If you’re expecting a tax refund in 2023, it may be smaller than this year’s payment, according to the IRS. Typically, you get a federal refund when you’ve overpaid yearly taxes or withheld more than the amount you owe. Your annual balance is based on taxable income, calculated by …
Read More »The IRS interest rate for unpaid refunds and balances will soon be 7%
[ad_1] Bill Oxford | E+ | Getty Images If your tax refund is still in limbo, there’s good news: Your balance may be accruing interest, and the rate increases to 7% from 6% on Jan. 1, according to the IRS. As of Nov. 18, there were 3.4 million unprocessed individual …
Read More »Despite long Covid risks, employees consider cutting health benefits
[ad_1] Tech startup company Fast Chief Communications Officer Jason Alderman (R) talks with an employee on the first day working in the office on March 24, 2021 in San Francisco, California. Justin Sullivan | Getty Images Inflation has stretched household budgets near their limit. As a result, most people have …
Read More »What to know before rebalancing your investment portfolio
[ad_1] After a volatile year for the stock and bond markets, it may be time to rebalance your portfolio by shifting assets back to match your original goals, according to experts. As of Nov. 28, the S&P 500 Index was down roughly 17% year-to-date, and the U.S. bond market has …
Read More »These 4 tips can help you stay out of debt this holiday season
[ad_1] Consumers spent a record $9.12 billion online shopping during Black Friday and another record $11.3 billion on Cyber Monday, according to the most recent data from Adobe. So far this November, consumers have spent $107.7 billion online overall, up nearly 10% from last year. Yet roughly 60% of Americans were living paycheck to …
Read More »How the BlockFi bankruptcy, FTX collapse may affect your crypto taxes
[ad_1] It is thought the new U.K. government’s mini-budget may have made buying a house even more difficult. Photo by LanaStock via Getty Images Crypto firm BlockFi on Monday filed for Chapter 11 bankruptcy, two weeks after the collapse of crypto exchange FTX, further complicating taxes for investors during a …
Read More »Lesser-known ways to reduce your 2022 tax bill or boost your refund
[ad_1] Charles Taylor | Getty Images 1. If your income is higher in 2022, defer your bonus into 2023 If you’ve had a strong year and expect lower earnings in 2023, you may try to defer a holiday bonus until the new year, experts say. “It’s always exciting to reap …
Read More »Retailers roll out stricter return policies ahead of the holidays
[ad_1] The holiday shopping season is always closely followed by a spike in gift returning. But this year, it may be harder to bring things back for free or at a low cost. Roughly 60% of retailers said they’re making changes to existing returns policies, with fewer promising free returns, …
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