The financial news that actually matters
For years, a married couple earning $38,000 who adopted a child out of foster care might owe only $1,500 in federal income tax. The adoption tax credit could wipe that bill to zero, but the thousands of dollars left over just sat there on paper, carried forward year after year, often expiring before the family…
When an orthopedic surgeon in one of six pilot states submits a request to perform knee surgery on a 72-year-old Medicare patient, the claim no longer goes straight to CMS for payment. Instead, it lands with a private technology vendor, which uses algorithms and clinical reviewers to decide whether the procedure should happen at all….
A freelance graphic designer earning $120,000 a year can now shield $24,000 of that income from federal taxes, not just this year but every year going forward. A two-partner accounting firm splitting $400,000 in profits can each deduct up to $40,000. And the owner of a small plumbing company clearing $200,000 through an S-corporation can…
A 50-year-old teacher in Virginia has $180,000 sitting in her 403(b). She knows she should own long-term-care insurance. She has even been quoted a premium: $2,200 a year for a standalone policy. But between her mortgage, two kids in daycare, and a car payment, writing that check has never quite made the cut. As of…
When Alyssa Bridgeman left her warehouse logistics job in 2021, she didn’t think much about the $2,800 sitting in her 401(k). She started a new position, enrolled in a new plan, and moved on. Two years later, she learned her old balance had been pushed into a default IRA invested in a money-market fund earning…
Until recently, a trip to the pharmacy for a shingles vaccine could cost a Medicare enrollee more than a week’s worth of groceries. Shingrix, the two-dose vaccine recommended for adults 50 and older, lists at roughly $200 per shot. Before 2023, most Part D plans required enrollees to cover a copay, coinsurance, or deductible on…
Workers who have been maxing out their 401(k) contributions just got more room. Starting January 1, 2026, the annual deferral limit for 401(k) plans climbed to $24,500, a $1,000 increase over the 2025 ceiling of $23,500. The IRA contribution cap rose as well, reaching $7,500 after holding at $7,000 for the prior two years. For…
A single filer who puts $2,000 into a 401(k) or Roth IRA could get up to $1,000 knocked straight off their federal tax bill. A married couple filing jointly could get $2,000. No itemizing required. The benefit is called the Retirement Savings Contributions Credit, better known as the Saver’s Credit, and it has been part…
Book a hotel room advertised at $250 a night, and by the time you reached checkout, the total had often crept to $310 or more. A “resort fee” here, a “destination amenity charge” there. Concert tickets pulled the same trick: a $95 seat ballooned past $130 once “service” and “convenience” fees appeared in the cart….
Consider two workers who both earned at or above Social Security’s taxable ceiling for most of their careers. One files for benefits at 62. The other waits until 70. In 2026, the early filer collects $2,969 a month. The late filer collects $5,251. Same earnings history, same decades of maximum payroll contributions, yet the monthly…