Category Personal Finance

The Treasury Inspector General for Tax Administration (TIGTA) recently released a report revealing that between 2018 and 2020, the IRS missed out on nearly $1.5 billion in taxes from unreported gambling winnings. This shortfall occurred due to approximately 150,000 individuals…

The Tax Foundation’s recent reports highlight significant concerns regarding the proposed increase of the U.S. corporate tax rate to 28%, backed by Vice President Kamala Harris and congressional Democrats. Here are the key points from their findings: Impact on Workers…

The decision on when to claim Social Security benefits is crucial, especially for those with a long and high-earning career who are eligible for the maximum benefit. Here’s a breakdown of the key factors to consider: Understanding Social Security Benefits:…

The upcoming 2025 Social Security cost-of-living adjustment (COLA), while intended to help beneficiaries keep pace with inflation, presents both advantages and challenges for retirees. Good News: Larger Monthly Payments: The 2025 COLA will result in increased Social Security checks, providing…

The Senior Citizens League (TSCL) has revised its forecast for the Social Security cost-of-living adjustment (COLA) for 2025 to a modest 2.5%, down from the 3.2% increase seniors received in 2024. This anticipated smaller adjustment is raising concerns, particularly as…

Credit cards offer a host of benefits, from earning rewards to providing security on purchases. But what if you have a card you’re not using? Should you keep it or close the account? Let’s explore both sides of the argument…

The Supplemental Nutrition Assistance Program (SNAP) is a federal initiative aimed at helping low-income individuals and families in the tri-state area access nutritious food. How Does SNAP Work? Previously known as food stamps, SNAP benefits are now distributed through a…

As healthcare costs continue to soar, medical industry analysts now predict that health plan expenses will rise by at least 5.8% in 2025. “It might only increase by 6% for larger companies, but I’m seeing jumps of 10%, 20%, and…

Republican presidential nominee Donald Trump’s proposal to lower the U.S. corporate tax rate from 21% to 15% would disproportionately harm the bottom half of the nation’s income distribution while benefiting those at the top, according to a Thursday analysis by…

The Social Security Administration (SSA) has announced that the next Supplemental Security Income (SSI) payment will be released in less than 24 hours. All SSI recipients will receive their payments on the same day, though the amount will differ depending…