David Keller, Author at The Financial Wire

Group of Legal Professionals in Serious Discussion in Courtroom Setting

A Brooklyn network laundered $43 million in investment-scam cash through 140 bank accounts and 45 shell companies, prosecutors say

David Keller1 month ago1 month ago010 mins

Federal prosecutors in Brooklyn have charged two members of a money-laundering network with funneling at least $43 million stolen from victims of so-called pig-butchering investment scams through roughly 45 shell companies and 140 company bank accounts. Zhuoying Chen, known as “Jolene,” and Haojie Zhang, known as “Kevin,” allegedly ran the operation from Brooklyn and Queens…

The 401(k) contribution limit rises to $24,500 in 2026, up from $23,500

David Keller1 month ago1 month ago09 mins

Workers saving through a 401(k) or similar employer-sponsored retirement plan can set aside an extra $1,000 per year starting in 2026, after the Internal Revenue Service raised the annual employee elective deferral limit from $23,500 to $24,500. The adjustment, driven by the agency’s cost-of-living formula, also applies to 403(b) and most 457 plans. For the…

Portrait of young man using laptop at table

Workers who leave a job at 55 or older can tap that 401(k) without the 10% early-withdrawal penalty

David Keller1 month ago1 month ago09 mins

Workers who leave a job at age 55 or older can pull money from that employer’s 401(k) without paying the 10% early-withdrawal penalty that normally applies before age 59 and a half. The rule, codified in IRC Section 72(t)(2)(A)(v), applies specifically to qualified employer plans and not to IRAs, a distinction that catches many people…

Americans lost $373 million on Zelle and similar apps last year, and banks paid back less than half

David Keller1 month ago1 month ago09 mins

Americans lost $373 million to fraud on Zelle and similar instant-payment apps last year, and banks reimbursed less than half of those losses, according to Senate investigators who obtained internal data from the country’s largest financial institutions. The Consumer Financial Protection Bureau sued JPMorgan Chase, Bank of America, and Wells Fargo, alleging the banks let…

Elderly man wearing glasses using a laptop at home.

Retirees over 70½ can send up to $111,000 straight from an IRA to charity and owe no tax

David Keller1 month ago1 month ago09 mins

Retirees who have reached age 70½ can now direct as much as $111,000 from an IRA to charity in 2026 without owing a cent of federal income tax on the transfer. That cap stood at $105,000 just two years ago. The increase, driven by annual cost-of-living adjustments the IRS ties to Notice 2025-67, gives older…

Sad business man using laptop sitting at desk isolated with white highlights

A losing investment can trim your taxes by up to $3,000 a year, with the rest carried forward

David Keller1 month ago1 month ago09 mins

Investors who sold stocks, funds, or other assets at a loss during 2025 can subtract up to $3,000 of those net losses from ordinary income on their federal tax return, with any leftover amount rolling into future years until it is fully used. The rule, set by federal statute and enforced by the IRS, applies…

Coca-cola sign above walgreens pharmacy in atlanta

Walgreens will pay $100 million over claims it inflated prescription prices

David Keller1 month ago1 month ago09 mins

Blue Cross Blue Shield plans have reached a settlement of roughly $100 million with Walgreens to resolve allegations that the pharmacy chain submitted inflated prescription prices when seeking reimbursement. The deal adds to a string of federal enforcement actions targeting Walgreens over billing practices, including a separate $106.8 million payout tied to claims the company…

Egg prices jumped 4.3% in June and grocery bills are up 3% over the year, squeezing fixed retirement budgets

David Keller1 month ago1 month ago08 mins

Retirees living on fixed incomes absorbed another hit at the grocery store in June 2026, as egg prices climbed 4.3 percent in a single month while overall food costs rose 3.0 percent compared with a year earlier. The spike landed even as the broader Consumer Price Index posted its steepest monthly drop in six years,…

Hands counting money from a wallet over papers.

High earners can still fund a Roth through a legal “backdoor” conversion

David Keller1 month ago1 month ago09 mins

High-income taxpayers who earn too much to contribute directly to a Roth IRA still have a fully legal path to Roth assets, and the federal tax code spells it out in plain language. The strategy, widely known as the “backdoor Roth,” relies on a two-step sequence: make a nondeductible contribution to a traditional IRA, then…

tax, finances, family, home and happiness concept - busy couple with papers and calculator at home

Series I bonds are capped at $10,000 per person a year, so couples can shield $20,000 from inflation

David Keller1 month ago1 month ago08 mins

Married couples can direct up to $20,000 a year into Series I savings bonds, double the amount available to a single buyer, simply because the U.S. Treasury enforces its $10,000 annual cap per Social Security number rather than per household. That arithmetic gives two-adult households a measurable edge in protecting cash from inflation, especially during…

David Keller

A Brooklyn network laundered $43 million in investment-scam cash through 140 bank accounts and 45 shell companies, prosecutors say

The 401(k) contribution limit rises to $24,500 in 2026, up from $23,500

Workers who leave a job at 55 or older can tap that 401(k) without the 10% early-withdrawal penalty

Americans lost $373 million on Zelle and similar apps last year, and banks paid back less than half

Retirees over 70½ can send up to $111,000 straight from an IRA to charity and owe no tax

A losing investment can trim your taxes by up to $3,000 a year, with the rest carried forward

Walgreens will pay $100 million over claims it inflated prescription prices

High earners can still fund a Roth through a legal “backdoor” conversion

Series I bonds are capped at $10,000 per person a year, so couples can shield $20,000 from inflation

IG

FB

PIN

LI

X