The financial news that actually matters
Americans who hold health savings accounts and reach age 65 can pull money out for groceries, travel, or any other non-medical expense without facing the 20 percent additional tax that younger account holders owe on such withdrawals. The rule is written directly into federal tax law at 26 U.S.C. Section 223(f)(4), which carves out an…
A business that buys a piece of equipment today can, under federal tax law, deduct its full cost on the same year’s return rather than spreading the expense across multiple years of depreciation. That single-year write-off, authorized by Section 179 of the Internal Revenue Code, turns on a precise trigger: the asset must be “placed…
Thousands of Arizona car buyers are receiving refund checks after federal and state regulators found that a Phoenix-area dealership tacked hidden fees onto vehicle purchases and leases. The Federal Trade Commission is mailing 5,790 checks totaling more than $2.3 million to consumers harmed by Coulter Motor Company’s undisclosed add-on charges. The payments, which began going…
Self-employed workers gained the ability to shelter up to $70,000 in a solo 401(k) for the 2025 tax year, a figure that rises to $72,000 for 2026. But the actual amount any sole proprietor can contribute depends on a math formula that often pushes the effective cap well below those headline numbers, especially for earners…
Christopher Alexander Delgado, the man behind a crypto scheme called Goliath Ventures, now faces federal orders to hand over 11 luxury vehicles, 30 high-end watches, and 50 designer handbags after prosecutors alleged he ran a $250 million Ponzi-style fraud. The U.S. Attorney’s Office for the Middle District of Florida filed a verified civil forfeiture complaint…
Vincent J. Camarda, the chairman and CEO of A.G. Morgan Financial Advisors, pleaded guilty to running an investment fraud scheme that collected at least $138 million from more than 430 investors through promissory notes tied to five private equity funds. Federal prosecutors say Camarda used his dual position as both a registered adviser and fund…
JPMorgan Chase CEO Jamie Dimon told a Bloomberg Television audience in Miami on March 2, 2026, that stock markets carry “too much exuberance” and that the buoyant mood among investors does not match what he called a “fine” but unremarkable economy. The warning landed while the S&P 500 traded near its all-time high and while…
Americans turning 60, 61, 62, or 63 this year can now stash an extra $11,250 in catch-up contributions to their 401(k) plans, a $3,250 bump over the standard $8,000 catch-up limit for workers 50 and older. The increase, created by the SECURE 2.0 Act and confirmed in IRS dollar-limit tables for 2026, applies to most…
Single filers and heads of household earning a modified adjusted gross income of $168,000 or more in 2026 will be completely shut out of direct Roth IRA contributions, according to the IRS cost-of-living adjustment published in Notice 2025-67. The phase-out begins at $153,000, meaning anyone in that income band can contribute only a reduced amount….
Cisco is preparing to cut close to 4,000 positions during its fiscal third quarter ended April 25, 2026, as part of restructuring actions disclosed in its latest regulatory filings with the U.S. Securities and Exchange Commission. The company reported Q3 FY2026 results on May 13, 2026, furnishing its earnings release as Exhibit 99.1 in a…